Financial statement.
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Financial statement.
http://www.leedsunited.com/news/article ... h573dxzqhl
Seems the doom mongers are wrong about asset stripping.
Good news!
Seems the doom mongers are wrong about asset stripping.
Good news!
Every game I predict a 3 - 1 Leeds win, I am traditional like that.
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Re: Financial statement.
The losses are down but looks like the debt is up to around a nett value of £36Mill to Eleonora Sports (Cellino) .
Needs full set of accounts to see a clearer picture. Not getting excited yet.
Needs full set of accounts to see a clearer picture. Not getting excited yet.
Re: Financial statement.
No doubt the majority on waccoe/twitter will claim it's all a pack of lies as everything stinks at our club apparently
- YorkshireSquare
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Re: Financial statement.
Turnover down, attendances down, wages down, debt up is how I read it.mav wrote:http://www.leedsunited.com/news/article ... h573dxzqhl
Seems the doom mongers are wrong about asset stripping.
Good news!
Re: Financial statement.
Shields53 wrote:
Turnover down, attendances down, wages down, debt up is how I read it.
but debt owed to MC, rather than places that charge for the service.
turnover is down by a tiny amount.
Every game I predict a 3 - 1 Leeds win, I am traditional like that.
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Re: Financial statement.
I doubt very much that Leeds United won't be paying Eleonora Sports interest, that won't come out until next years accounts though.mav wrote:
but debt owed to MC, rather than places that charge for the service.
turnover is down by a tiny amount.
Also looking though the debt being down was part due to the sale of Ross.
- YorkshireSquare
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Re: Financial statement.
This is May 2014 to June 2015 right?mav wrote:
but debt owed to MC, rather than places that charge for the service.
turnover is down by a tiny amount.
We sold McCormack when? July 2014, so without that sale we would have had a loss of £13 million for the year.
Re: Financial statement.
Doubtful - very few teams pay full amount up front - so perhaps half that?Shields53 wrote:
This is May 2014 to June 2015 right?
We sold McCormack when? July 2014, so without that sale we would have had a loss of £13 million for the year.
still not great though!
Every game I predict a 3 - 1 Leeds win, I am traditional like that.
- YorkshireSquare
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Re: Financial statement.
As with any financial statement, what's there is really what the club want you to hear. there is a lot missing unless you go through the detail. I just see falling turnover and attendance and expect that to go the same way this year.
Spending on players had increased to £6m which was up from £2m the previous year but it is still not enough for a club that says it wants to challenge for promotion. All in all I see a shrinking club.
Also no mention of debt owed to GFH which is somewhat of an Elephant in the room.
Spending on players had increased to £6m which was up from £2m the previous year but it is still not enough for a club that says it wants to challenge for promotion. All in all I see a shrinking club.
Also no mention of debt owed to GFH which is somewhat of an Elephant in the room.
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Re: Financial statement.
Is this the 'financial good news' that the gobsh*te alluded to after the game last night? I make no claim to understand accounts, but turnover and attendances down and debt up doesn't sound that good to me.
"When the going gets weird, the weird get professional!" Hunter S Thompson
Re: Financial statement.
again, depends on the debt - I pay more interest on my credit card debt than I do on my Mortgage despite the CC debt being a tiny % of the house loan.
Also, every time they "convert debt to equity" they devalue GFH a little more
This is spun to look positive but we will never know for sure.
Also, every time they "convert debt to equity" they devalue GFH a little more
This is spun to look positive but we will never know for sure.
Every game I predict a 3 - 1 Leeds win, I am traditional like that.
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- Guest
Re: Financial statement.
I've read 2 figurea which aren't miles apart. £28M and £30M plus we are still paying them monthly consultancy fees, no idea what that figure is though, needs the full set of accounts to see that.Shields53 wrote:
Also no mention of debt owed to GFH which is somewhat of an Elephant in the room.
- The Subhuman
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Re: Financial statement.
Can't we sell the elephant?
"Never debate an idiot, they'll only drag you down to their level and they have the advantage of experience"
Re: Financial statement.
We did and replaced it with a snow leopard.faaip wrote:Can't we sell the elephant?
Re: Financial statement.
According to the YEP, player sales (including McCormack's sale) are not included in these figures. It does seem to me that Cellino has been doing a good job with the club, and elsewhere has said that now the club is on a viable footing, they can look at recruiting plyers for the next step. Don't go thinking I am a Cellino apologist, I'm not, but I have to give him due for the improvement. Let's put it this way, when the FL ban him again, this club is going to be far more attractive to investors or purchasers, as it is now looking like MC has sorted out the convoluted maze of debt that Bates and GFH left behind.
Re: Financial statement.
He's already been sold we are renting him backfaaip wrote:Can't we sell the elephant?
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Re: Financial statement.
Player sales are included in the figures, they have to be. They just weren't mentioned in the statement.Drs.Dad wrote:According to the YEP, player sales (including McCormack's sale) are not included in these figures. It does seem to me that Cellino has been doing a good job with the club, and elsewhere has said that now the club is on a viable footing, they can look at recruiting plyers for the next step. Don't go thinking I am a Cellino apologist, I'm not, but I have to give him due for the improvement. Let's put it this way, when the FL ban him again, this club is going to be far more attractive to investors or purchasers, as it is now looking like MC has sorted out the convoluted maze of debt that Bates and GFH left behind.
Re: Financial statement.
Lovely to read a honest balanced opinion, without it/you getting torn a new one, long may it continueDrs.Dad wrote:According to the YEP, player sales (including McCormack's sale) are not included in these figures. It does seem to me that Cellino has been doing a good job with the club, and elsewhere has said that now the club is on a viable footing, they can look at recruiting plyers for the next step. Don't go thinking I am a Cellino apologist, I'm not, but I have to give him due for the improvement. Let's put it this way, when the FL ban him again, this club is going to be far more attractive to investors or purchasers, as it is now looking like MC has sorted out the convoluted maze of debt that Bates and GFH left behind.
- The Subhuman
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Re: Financial statement.
Durly wrote:
We did and replaced it with a snow leopard.
still better than fish
"Never debate an idiot, they'll only drag you down to their level and they have the advantage of experience"