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canary cherub

The board's biggest cockup

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Agreed.

 

OT  - I didn''t notice the pa - 30%pa on a regular basis is very impressive - I don''t think even that madoff bloke with the Ponzi scheme was managing  that!- I agree the mkt is illogical but still difficult to beat consistently -maybe you should be investing the funds for NCFC.

I still think the property investments may come good for Charlton and NCFC in a year or two. I shall be giving those UK construction market reports lying on my desk more attention than my work strictly requires.

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[quote user="T"][quote user="Mr.Carrow"]

[quote user="T"]Probably not - i''m no doubt you are right most people, at least in Norfolk, like to whinge rather than a dose of boring reality.[/quote]

You mean realities such as City being able to afford £5.2m out of £15m income in `02, but now thanks to our boards "obsession" with off-pitch activities it`s only £1.9m out of £19m income?  Or that a much smaller club in Preston can afford £5m out of £8.5m income?  Or that our "prudent" board have managed to double our non-player wage costs in six years to a crippling £17m?

I don`t believe you ever answered my question T.  If you believe that land and fixed assets are such a good investment for a football club, do you think we should sell any "intangible fixed asset" players who are worth anything and put the money into more fixed assets?

Btw, i`ve averaged 30% pa profit in the stock market since i`ve been trading for the last nine years.  With the research tools available online it`s never been easier to make an informed decision.

[/quote]

 I don''t beleive that the club should sell players to invest in fixed assets but I see nothing wrong with taking out loans as most businesses do in order to enable more income to be generated just as i seeing nothing with someone taking out a sensible mortgage to buy a house

[/quote]

Are you Neil Doncaster in disguise?

During the Forum at the Open Day he tried to make out that the infrastructure was financed by loans. Just off the top of my head I can think of the following that wasn''t financed by loans:

£250k re the purchase of the ex LSE land

£900k re the purchase of the ex Norwich City Council land

£1m and growing, interest payments on the £2.5m loan re the ex LSE land

Arrangement fees re the £2.5m loan re the ex LSE land

£ multi millions, 4m? (and I ''m not talking about the loan re the Community stand) spent in 2004 -2005 on tangible fixed assets that surely could have waited.

£0.9m approx spent on tangible fixed assets during 2007-2008

Money drained away from the playing side of the business...........

 

 

 

  

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[quote user="T"]Not to disappoint. On the left we have the views of Deloittes, Peter Cullum, the chairman of the football league, parlimentary committees and others who have professionally reviewed the finances of football clubs together with the evidence from the numerous clubs that have gone into administration and the latest news from Italy and on the right we have the views of the likes of canary cherub, TFA, Mr C, DF,  buckethead etc or whatever they are calling themselves theses days. It''s a bit like listening to the views on canary call or a visit to speakers corner in hyde park - amusing but cringeworthy. No doubt with all this wisdom they have sold short, made big time and will be shortly forming a consortium to lead NCFC to the promised land. At which point, as they are clearly not hypocrits, they will then give their control of the club away to a multi-billionaire for free. Alternatively, they may stop hanging onto their prejudices and  finally grasp the financial realities of operating a  football club.  A least there is more hope of staying up at the weekend. [/quote]

May be T should conduct some research before posting. The following post clearly shows a grasp of the financial realities of operating a football club:

 

   08/04/2009, 4:35 PM

Tangible Fixed Assets anyone? is not online. Last active: 05/05/2009 15:24:00 Tangible Fixed Assets anyone?

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Joined on 03/08/2005
Posts 2,542

Re: Nearly £10m more to run NCFC Plc compared to Preston North End

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Blahblah, what a coincidence I was going to make a post today about how the club have already made some overhead reductions such as Andrew Cullen departing, Leo Blackburn going and the lady from the Catering operations etc. Say 300k then add £250k for say the departure of Peter Grant in the 2007-08 Accounts (yes I know we had to pay off GR. and crew but that probably covered by the sale of Bell for £750k in 2008-2009 but hopefully no further payoff for a while) and hopefully the tax advice costs (£46k in 2007-2008) have ceased (for a while). That makes nearly £600k. from reducing the overheads.  Add say a £2m reduction from the playing budget and NCFC are heading in the right direction regarding the finances.

Off the top of my head:

the loss was                                                    £2.7m

less depreciation (non cash cost)                     £1.7m

sub total                                                           £1m

cash needed for capital repayment of loans        £1m.

Total                                                                 £2m

 

If NCFC reduce costs by £2.6m (see above) that should leave enough for any shortfall in revenues if season ticket renewals dont quite make 20,000. Hopefully that should free Delia & MWJ. from the need to provide a subsidy.

However there may be scope for further overhead reduction without loss of staff, such as £350k from the travelling, accommodation etc. budget which currently at £800k+ seems to need some explanation!

Once the economy starts to recover there may be scope for further overhead savings, such as Finance costs amongst others. 

£350k from savings in the travelling, accommodation budget and a further £350k later, makes £700k that on an annual basis could then be used to boost the transfer budget or be accumulated for later use such as speeding up debt repayment.

 

BTW., I havent checked but I think you will find that I excluded the EventGuard costs from the comparison against Preston''s cost base. Therefore they are not relevant to the above discussion.

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The above assumes we stay in The Championship.

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