ENIC

[billyiddo]

A lot of that will be down to depreciation of the stadium would it not? Book loss rather than actual loss

 

[ricky2tricky4city]

Is it too simple to state the drop off in league position has cost us here and the difference between being in the red and the black? It's a, what, £20-25m swing from 5th to 17th?

The big spike in profitability in Poch years driven by regular champions league football?

Maybe I'm over-simplifying and need to properly read the article, but is there anything really to see here?

Clicky headline. Roll eyes.

The impressive rise in profits upto the completion of the stadium were a tactical move as we went into the final reconciliation of refinancing the stadium debt. It paid off in the low long term rates we secured.

COVID then took it's toll (as it did on everything and everyone) on income and profits.

As noted above the circa £70m depreciation charge on the stadium makes it appear we are trading at a bad loss. Remove that, we are not.

Two things to worry about in the accounts.
Player trading and transfer fees owed. (Hence our shift back to young recruits)
Increased operational costs. (Yep inflation is a killer)

Our debt is not a worry (remember that £250m of our long term debt isn't the stadium but the refinanced COVID loan that bridged that particular event)...to service this debt pile isn't an issue as a yearly cost (as long as the current mob don't carry on as they started with Macquarie loan nonsense)

If we go down....we are certainly going to have to trim any fat and hope we bounce straight back......you could say what we need is an astute safe pair of hands. The irony.