Riddler statement.

[chorleythehord]

if you care to read through the accounts of the LTD company that owns PNE you will find that this statement appears EVERY fuckin year, and I would imagine is in nearly every clubs account statement!!!!!

If it’s in the auditor report every year it must be bloody right then! The club is not a going concern without benefactor support. Fact. Get rid of hemmings we need another benefactor. It’s that simple. And if we want to invest further than the current regime he/she has to be good for £6m-£10m a year. Possibly for several years until / unless we get to premier league and then run a tight ship when we get there.

The statement will be in the accounts for all clubs that run at a loss funded by a benefactor. A couple I just checked that aren’t - Millwall and Rotherham dont have The statement. .

 

[paddysr]

If it’s in the auditor report every year it must be bloody right then! The club is not a going concern without benefactor support. Fact. Get rid of hemmings we need another benefactor. It’s that simple. And if we want to invest further than the current regime he/she has to be good for £6m-£10m a year. Possibly for several years until / unless we get to premier league and then run a tight ship when we get there.

The statement will be in the accounts for all clubs that run at a loss funded by a benefactor. A couple I just checked that aren’t - Millwall and Rotherham dont have The statement. .

Thats not strictly true, Brentford turned a profit last season despite pumping millions into a new stadium.

In theory a new owner could put up an initial outlay to bring in the right players and be running a profitable club within 5 years following that model.

They are about to sell Benrahma and Watkins for what is expected to be over £50m in total. Even if they only reinvest a fifth of that they will be bringing players in that will likely increase in value due to their recruitment policy as well as covering any expected covid losses.

Seems a far more prudent way to run a business.

 

[taxipete1]

We are one of the few clubs owned by a local man who has the best interests of the club at heart. 99.9% of supporters are extremely grateful for his huge financial contribution. To have a small town club fighting at the top of one of the biggest leagues in Europe is a magnificent achievement. Nuff said.

 

[sedgwick__7]

We are one of the few clubs owned by a local man who has the best interests of the club at heart. 99.9% of supporters are extremely grateful for his huge financial contribution. To have a small town club fighting at the top of one of the biggest leagues in Europe is a magnificent achievement. Nuff said.

You seem quite consistent in stating that the Championship is one of the biggest leagues in Europe. In terms of crowds it is but financially ie. TV money etc. it can't be classed as a big league.

Also we are not fighting at the top, we haven't finished in the top 6 of the Championship since 2009.

 

[paddysr]

We are one of the few clubs owned by a local man who has the best interests of the club at heart. 99.9% of supporters are extremely grateful for his huge financial contribution. To have a small town club fighting at the top of one of the biggest leagues in Europe is a magnificent achievement. Nuff said.

1. Not local, Cockley living in the Isle of Man

2. Based on the vote on here 48% arent happy with him.

3. Best interests of the club? Not sure about that. Definitely cares about our longevity but doesn't give a shit about the fans as per the training ground debacle and the lack of communication. The fans are part of the club.

4. We aren't a town we are a city and we are pretty average definitely not small 47th out of 89 localities.

 

[JK]

We are one of the few clubs owned by a local man who has the best interests of the club at heart. 99.9% of supporters are extremely grateful for his huge financial contribution. To have a small town club fighting at the top of one of the biggest leagues in Europe is a magnificent achievement. Nuff said.

And 99.9% of statistics are made up.

 

[Meldrew's Ghost]

We are one of the few clubs owned by a local man who has the best interests of the club at heart. 99.9% of supporters are extremely grateful for his huge financial contribution. To have a small town club fighting at the top of one of the biggest leagues in Europe is a magnificent achievement. Nuff said.

Don't you mean 99.9% of people who get in your taxi Pete? 🤣

 

[Baldygit]

That's him.

Made such a big impact I couldn't remember his name.

Probably because,like the team, he went off the boil 🙂

 

[taxipete1]

1. Not local, Cockley living in the Isle of Man

2. Based on the vote on here 48% arent happy with him.

3. Best interests of the club? Not sure about that. Definitely cares about our longevity but doesn't give a shit about the fans as per the training ground debacle and the lack of communication. The fans are part of the club.

4. We aren't a town we are a city and we are pretty average definitely not small 47th out of 89 localities.

We are a small town who's best days are long gone, believe me I know. Any potential investors would immediately recognise this and conclude much better options are available. Anyone willing to chuck 10 or 20 million a year at the club with no guarantee of success could probably afford Newcastle United, i know which one I'd buy.

 

[Thracia]

If it’s in the auditor report every year it must be bloody right then! The club is not a going concern without benefactor support. Fact. Get rid of hemmings we need another benefactor. It’s that simple. And if we want to invest further than the current regime he/she has to be good for £6m-£10m a year. Possibly for several years until / unless we get to premier league and then run a tight ship when we get there.

The statement will be in the accounts for all clubs that run at a loss funded by a benefactor. A couple I just checked that aren’t - Millwall and Rotherham dont have The statement. .

Both your (presumably totally random) examples' most recent accounts contain the following (common, boilerplate, copy/paste) auditor text:

"In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so".

The Millwall directors provide the following elucidation in their notes (PDF):

"The directors continually monitor the financial position of the Company, taking into account the latest cash flow forecasts and the ability of the Company to generate cash. The directors have prepared the financial statements on a going concern basis having had regard to cash flow projections for a period of not less than twelve months from the date of signing these accounts which includes funding from the immediate parent company, financed by the ultimate parent company. The directors have also considered the impact of player trading, which is an integral part of the Company's activities, and the cash flows associated with this activity.

"While there will always remain some inherent uncertainty the directors remain confident that they will be able to manage the company's finances and operations so as to achieve the forecasted cash flows and, as a result, that it is appropriate to draw up the financial statements on a going concern basis.

"The financial statements do not include any adjustments that would result if the going concern basis of preparation were to become no longer appropriate."

Whereas the Rotherham directors offer the following in their notes (PDF):

"The directors have a reasonable expectation that the company has adequate resources to continue for the foreseeable future and have received a letter of support from ASD Lighting plc confirming financial support for a period of at least 12 months from the date of approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements".

 

[paddysr]

We are a small town who's best days are long gone, believe me I know. Any potential investors would immediately recognise this and conclude much better options are available. Anyone willing to chuck 10 or 20 million a year at the club with no guarantee of success could probably afford Newcastle United, i know which one I'd buy.

But we aren't either small or a town.

This isn't opinion this is fact. I could probably fit the sum total of what you actually know on a postage stamp.

 

[JK]

We are a small town who's best days are long gone, believe me I know. Any potential investors would immediately recognise this and conclude much better options are available. Anyone willing to chuck 10 or 20 million a year at the club with no guarantee of success could probably afford Newcastle United, i know which one I'd buy.

Preston is a City.

That is a indisputable fact.

 

[paddysr]

Preston is a City.

That is a indisputable fact.

Just for clarification

 

[taxipete1]

But we aren't either small or a town.

This isn't opinion this is fact. I could probably fit the sum total of what you actually know on a postage stamp.

This town is absolutely fucked. Sat on the taxi rank the other day looking around and everything is closed, Guild Hall, Bingo, B,&M , Level, Piper Tithbarn pub etc . The place is a shadow of what it used to be, when the owner or his family decides theyve had enough we'll be straight down through the leagues. This is as good as it gets folks and maybe, just maybe with a bit of luck we could get promotion. Enjoy it while it lasts.

 

[paddysr]

This town is absolutely fucked. Sat on the taxi rank the other day looking around and everything is closed, Guild Hall, Bingo, B,&M , Level, Piper Tithbarn pub etc . The place is a shadow of what it used to be, when the owner or his family decides theyve had enough we'll be straight down through the leagues. This is as good as it gets folks and maybe, just maybe with a bit of luck we could get promotion. Enjoy it while it lasts.

Not a town

 

[Thracia]

Guys, don't let the thread be driven onto the scenic but intellectually redundant and expensive off-topic route.

 

[JK]

This town is absolutely fucked. Sat on the taxi rank the other day looking around and everything is closed, Guild Hall, Bingo, B,&M , Level, Piper Tithbarn pub etc . The place is a shadow of what it used to be, when the owner or his family decides theyve had enough we'll be straight down through the leagues. This is as good as it gets folks and maybe, just maybe with a bit of luck we could get promotion. Enjoy it while it lasts.

These are tough times for many and the CITY you refer to is under new covid restrictions.

That area of Preston has been an issue since Tithbarn Collapsed. As far as I am aware the plans are still going ahead for the old market development.

Whilst I dont want another thread to go all political as we have enough them, however you could very much say the same about Burnley.

A town whose football club who have now established themselves as a Premier League football club.

 

[chorleythehord]

Thats not strictly true, Brentford turned a profit last season despite pumping millions into a new stadium.

In theory a new owner could put up an initial outlay to bring in the right players and be running a profitable club within 5 years following that model.

They are about to sell Benrahma and Watkins for what is expected to be over £50m in total. Even if they only reinvest a fifth of that they will be bringing players in that will likely increase in value due to their recruitment policy as well as covering any expected covid losses.

Seems a far more prudent way to run a business.

Pumping millions in to a new stadium has no immediate effect on profit and loss. that is an asset purchase.
Brentford run at an operating loss of about £20m a year funded by the owner. He tries to offset this with player sales and profits. I know a brentford fan and he tells me the owner gets the same sort of stick our owner gets from the financially uninformed fans. Accused of back pocketing millions of pounds and using tax losses to somehow miraculously get his money back. That’s despite him pumping £130m in the short time he has owned his boyhood club ( and That’s with the ground a long way from complete ).

In theory anything is possible. Who would have thought going on the cheap and getting a bunch of cheap loan players like blackpool did. would get you up. But they did. The lack of profitable clubs in the championship tells you otherwise though.

I keep coming in here looking like a TH lacky. I’m far from happy about many aspects about the way the club is run. There is nothing wrong with criticising that. It’s just the financially clueless who irritate me. Thinking the answer is “Hemmings out”. And suddenly our new owner will arise , stand the £10m a year loss and pump more in besides to break the wage and transfer structure. It’s just not the real world that I live in. Better the devil you know.

one day though, perhaps sooner than we think , he will not be here. You , Paddy, Jack Daniels, Thracia and the rest will get your wish then. Id be delighted to be proved wrong, and I will support the club no matter what. But I strongly suspect we will not get the investment from any new owner that we get from TH.

Your names have been noted.

 

[JK]

Pumping millions in to a new stadium has no immediate effect on profit and loss. that is an asset purchase.
Brentford run at an operating loss of about £20m a year funded by the owner. He tries to offset this with player sales and profits. I know a brentford fan and he tells me the owner gets the same sort of stick our owner gets from the financially uninformed fans. Accused of back pocketing millions of pounds and using tax losses to somehow miraculously get his money back. That’s despite him pumping £130m in the short time he has owned his boyhood club ( and That’s with the ground a long way from complete ).

In theory anything is possible. Who would have thought going on the cheap and getting a bunch of cheap loan players like blackpool did. would get you up. But they did. The lack of profitable clubs in the championship tells you otherwise though.

I keep coming in here looking like a TH lacky. I’m far from happy about many aspects about the way the club is run. There is nothing wrong with criticising that. It’s just the financially clueless who irritate me. Thinking the answer is “Hemmings out”. And suddenly our new owner will arise , stand the £10m a year loss and pump more in besides to break the wage and transfer structure. It’s just not the real world that I live in. Better the devil you know.

one day though, perhaps sooner than we think , he will not be here. You , Paddy, Jack Daniels, Thracia and the rest will get your wish then. Id be delighted to be proved wrong, and I will support the club no matter what. But I strongly suspect we will not get the investment from any new owner that we get from TH.

Your names have been noted.

 

[bowlandwhites]

You do have some strange notions.

You think I have strange notion
When posters continually complain about TH not putting enough money into a club that's losing millions every year.
I am sure his business interests must have taken a massive hit this year .
It's not just lack of investment in players. It's every decision that's made these days by the club they can't do right for doing wrong anymore & I think it's spoiling the enjoyment for many supporters especially when you no some of the moaning is from fans that don't attend any more.
We are a championship team in the top half of the table & punching above our weight some need to get real with expectations.
Our budget will probebly exceed 20 million this coming season that to me is a lot of bloody money considering the crowds we get & compared to sizes of other clubs in the championship.