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Financial Results

It was always going to take a while for events to ramp up. Covid has slowed that down a fair bit.

I'm not sure it's slowed events per se (I've been to about 10 gigs in the last few weeks), but a lot happening now are those rescheduled from spring 2020 and beyond, which would have been a period when WHL wasn't established on the booking roster. So it might be different from the arena venues etc., which are back up to speed now. Actually a lot of bands are desperate to play at the moment, but can't get venues because they are all booked out with reschedules, which might work in WHLs favour
 
I'm not sure it's slowed events per se (I've been to about 10 gigs in the last few weeks), but a lot happening now are those rescheduled from spring 2020 and beyond, which would have been a period when WHL wasn't established on the booking roster. So it might be different from the arena venues etc., which are back up to speed now. Actually a lot of bands are desperate to play at the moment, but can't get venues because they are all booked out with reschedules, which might work in WHLs favour

I meant in the stadium from opening. We will see more events in year two than year one. We are in year one now but it started half way through the financial year.

In terms of big events by international artists, we are still a long way off being fully up to speed.
 
Looks to me to be sensible planning to dump losses into a bad period
Surprised we haven’t changed the financial years again TBH
Key now is as said previous… full stadium and events. It’s cash flow and money coming in weekly that matters
With the dates of this latest financial results we can (could) carry losses back 3 years, so back to the healthy profit years of 2018 and 2019. Offsetting and recouping a large corporation tax bill from then.

It's a nice silver lining to a difficult period.

Looking in rude health back then I always believed was a tactic for the final re-financing, attracting top level investment firms with our grade A (or higher) rating and securing silly low long term interest rates (2.7%). It duly worked.
 
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With the dates of this latest financial results we can (could) carry losses back 3 years, so back to the healthy profit years of 2018 and 2019. Offsetting and recouping a large corporation tax bill from then.

It's a nice silver lining to a difficult period.

Looking in rude health then I always believed was a tactic for the final re-financing, attracting top level investment firms with our grade A (or higher) rating and securing silly low long term interest rates (2.7%). It duly worked.
The 3 year carry back temporary extension written into legislation is handy, HOWEVER, having looked the limits on losses you are able to carry are not that generous.
 
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The club's financial position does look extremely healthy

Turnover will be approaching £500m I guess this year and even if the cost base has gone over £300m, it still leaves a chunky operating profit....add back deprecation of around £80m and subtract some capex, interest and tax, then the club does produce very healthy cashflow.

Given the owners aren't taking cash out of the club the decision then its how much of that cashflow goes on debt reduction vs players vs increased investment (e.g. the women's pitches and facilities, hotel etc)
 
The club's financial position does look extremely healthy

Turnover will be approaching £500m I guess this year and even if the cost base has gone over £300m, it still leaves a chunky operating profit....add back deprecation of around £80m and subtract some capex, interest and tax, then the club does produce very healthy cashflow.

Given the owners aren't taking cash out of the club the decision then its how much of that cashflow goes on debt reduction vs players vs increased investment (e.g. the women's pitches and facilities, hotel etc)

At the moment the priority has to be getting back in the cl. Otherwise we are at risk of other clubs (leicester...) overtaking us. Not going to be easy. Especially if utd get a good manager in.
 
At the moment the priority has to be getting back in the cl. Otherwise we are at risk of other clubs (leicester...) overtaking us. Not going to be easy. Especially if utd get a good manager in.

Yes, the door is ajar this year when really it shouldnt have been given the cash Utd spent

The results though show why Levy, it seems, is confident about backing Conte in the upcoming windows
 
“We shall also undertake supporting property projects. The development of the hotel, for example, on the stadium campus, will support our Conference and Events business and generate not only additional revenues, but also training and jobs in the local community.”

Interesting part from the report looks like we plan to build and operate the hotel ourselves.
 
“We shall also undertake supporting property projects. The development of the hotel, for example, on the stadium campus, will support our Conference and Events business and generate not only additional revenues, but also training and jobs in the local community.”

Interesting part from the report looks like we plan to build and operate the hotel ourselves.

It will be with a partner I should imagine but will be a hotel that fans can stay in, so it makes sense the club get involved and build something of note.

Regarding the 400m. Not sure how this figure is split between different managers. The brunt of it must have been under Poch? Ndombele, Lo Celso, Sessengon and Clarke. I guess wages have maybe also been factored in?

At least since Paratici, you can say our transfer business has been less wasteful.
 
Can anyone explain to me very quickly how and why revenues from live Events,hotel and residential developments are allowed to be reinvested in the football business (ffp).
 
Can anyone explain to me very quickly how and why revenues from live Events,hotel and residential developments are allowed to be reinvested in the football business (ffp).

Where would you draw the line? Clubs sell merchandise - clothes, is that allowed? How about drinks and food? What about selling off land if they move? I could see some of the oiled clubs buying up businesses to allow them to get around FFP.
 
Can anyone explain to me very quickly how and why revenues from live Events,hotel and residential developments are allowed to be reinvested in the football business (ffp).
It's the clubs income, why wouldn't they be allowed to invest it in the football business? Where else would you expect them to invest it?
 
It will be with a partner I should imagine but will be a hotel that fans can stay in, so it makes sense the club get involved and build something of note.

Regarding the 400m. Not sure how this figure is split between different managers. The brunt of it must have been under Poch? Ndombele, Lo Celso, Sessengon and Clarke. I guess wages have maybe also been factored in?

At least since Paratici, you can say our transfer business has been less wasteful.

They'll have a management company running it. Just take the profits. Nice deals weekend in london, get a stadium tour and watch a game. Korean fans alone will bring in a fortune. European games etc...
 
They'll have a management company running it. Just take the profits. Nice deals weekend in london, get a stadium tour and watch a game. Korean fans alone will bring in a fortune. European games etc...

And knowing DL he will want some kind of statment. Won't be a travel lodge. Topfloor panoramic bar etc.

Btw what is the issue with the stadium sky lounge/bar thing?
 
It's the clubs income, why wouldn't they be allowed to invest it in the football business? Where else would you expect them to invest it?

That’s a whole load of questions I don’t know the answer to.

It’s not core business is it.
 
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