Latest figures show big financial loss for Preston North End
Preston North End made a big financial loss in the year ending June 30, 2019.
www.lep.co.uk
Hemmings Interest free Loans are at 43m
Operating loss
www.lep.co.uk
Hemmings Interest free Loans are at 43m
- Joined
- Nov 17, 2018
- Messages
- 4,360
That's an eye opener. Unless wages are brought down in the long term, many football clubs will be going down(wards) and out of business. How can you have a business that pays £143 in wages for every £100 of revenue. The premier leagues created this situation.
Not £500,000 a year, £500,000 a week... for playing football. Plus bonuses and perks. Sorry but it's sick and twisted in my book.
Not £500,000 a year, £500,000 a week... for playing football. Plus bonuses and perks. Sorry but it's sick and twisted in my book.
- Joined
- Jun 2, 2015
- Messages
- 18,710
£43 million? Blummin' heck. Then again, that's nearly as much as my son will owe when he finishes university.
I could've bought Daniel Johnson for the amount I owe in student debt
What would you have used him for?
Thracia
Club Owner, or wingback, depending on your view
- Joined
- Aug 1, 2011
- Messages
- 30,692
Given the current transfer market (something which is beyond our control), there's only 2 ways we can bring the wage bill in line with 100% of turnover.
Either we go up, or we go down.
Meanwhile, TH knows he has to make up the shortfall in operating costs, or the club is insolvent and his entire investment is at risk.
Which is why the accounts state in black-and-white that TH will be making up the shortfall.
So relax.
Either we go up, or we go down.
Meanwhile, TH knows he has to make up the shortfall in operating costs, or the club is insolvent and his entire investment is at risk.
Which is why the accounts state in black-and-white that TH will be making up the shortfall.
So relax.
Kick abouts in the park and that, we'd have been nailed on winners in double cuppies and he could've teed me up nicely in heads and volleys
😂 it would have been poetry in motion. One day my friend, one day.
- Joined
- Apr 27, 2013
- Messages
- 5,103
Hate to break it to you but this kind of thing was made illegal over 200 years ago.
One man is ruining our football club
Trevor HEMMINGS take a bow.
We were so close to a good thing, with investment we could have been challenging for the premiership, but no, So many lies about the new training facilities.
Trevor HEMMINGS take a bow.
We were so close to a good thing, with investment we could have been challenging for the premiership, but no, So many lies about the new training facilities.
- Joined
- Jan 25, 2020
- Messages
- 536
So, in your mind, Trevor Hemings is ‘ruining’ the club by refusing to sanction the spending of even more money the club clearly hasn’t got and can’t generate, in an attempt to join the other financial lunatics gambling on being one of the 3 from 10 clubs who make the it to the premier league in May?
Which bit of the financial statement in the OP did you not ‘get’? Hemings would ruin the club if he ever decided to call in his debts and walked don’t you think?
Two words you may wish to consider and reflect on before posting further on this subject BOLTON WANDERERS
Hemmings can't 'call in his debts and walk' as you call it. If the club is losing money without his input then there will be nothing for him to call for, so he will lose all of his investment.
Oh and while you are shouting Bolton I'll see you with Burnley
And two more...…….Ports Mouth.
And Blackpool, Wigan, Blackburn
Are you for feckin real ?
No he wouldn't. He could sell players like Pearson, Browne, Johnson, Davies, etc etc and likely recoup a big percentage of the 43 m and just sit back and watch PNE's journey down the divisions until the value of the club drops to such an extent that one of these many prospective buyers that we are all being told about actually exist agrees to pay whatever the club would actually be worth playing in div 1 or 2 or lower. By that time he may even get his 43 m back completely.
Even that is unlikely as these players would have to be sold this summer and clubs would know there was a problem and play hard ball. Also deliberately running a business down isn't actually legal in this country.
Fuck me. This has shut a few fuckers up on the Ingol fiasco.
Good time to bury bad news.
Good time to bury bad news.