Ftao Archerfield SWFC accounts now published

Owls wage bill for 2019/20

£33.5 million.

 

And they're still carp

 

And they STILL haven't given the refunds to thousands of fans who are owed one for either the 2020/21 season OR the 19/20 season.
Someone I work with is owed £1300 for him and his wife which Sheffield Wednesday keep telling him 'we'll refund you as soon as we can' which is the line they've trotted out for over a year now

 

Brilliant point, I work with a few who've still not received a penny. I love watching em struggle but these lads arent rich. They've not had a pay rise in years and that money would go to good use.

 

If I hadn't been given a refund for 19/20 despite the club spending 30 odd million on wages I'd have taken them to court by now.

I'll criticise Barnsley where I think it's due and that's quite often as we all know but one thing I can't criticise them on is how speedy they were in issuing refunds and as a club we should have been affected by covid much more than others but we still acted honourably

 

Wednesday ********.

 

So according the balance sheet the club is worth £-32m (minus thirty two million pounds). This means I'd they sold all their assets to pay off all their debts the would be short by £32m.

 

I'll buy it for that

 

Thanks

Here goes a quick summary:

Turnover for the year to July 2020, £20.9m, roughly £15m match receipts and TV money with £6m commercial activities. Not exactly massive but 50% bigger than BFC.

Wage Bill of £33.5m or 160% of turnover. Total operating costs of £41.7m. Overall operating loss of £20.8m.

Beyond that they received just over £6.2m in compensation for the loss of Steve Bruce which offset player amortisation costs. They also have £2.6m of lease charges, (ground rent is £1.5m pa).

This takes us to a loss of £23.6m with a further £500k in interest charges.

Annual loss of £24m.

On the ground the owner still owes the club £45m for the purchase and the club owes the owner over £56m. Accumulated losses of close on £100m. Maybe it’s their debt which makes them massive.

 

Those that have threatened have been paid out. The Wendy supporters trust are putting pressure on the club to refund ALL those that want one, instead of rolling it over. And are threatening em with the courts.

 

First and foremost the EFL will/should look at the late payment of players going back well over a year...Be amazed if the blue pigs avoid a points reduction.

 

but they weren’t in league one at the time

 

Hi mate

Is that defo the Steve Bruce monies? I vaguely recall it being.mentioned the last time they filed their account late... or did i just dream it?

Thanks as always for your knowledge and insight!

 

You are spot on, the confidential payment was in 2018/19 accounts. The £6.2m in this set must be player disposal profits, Lucas Joao springs to mind.

 

doesn't matter. Just like if you get to the Prem you can avoid them.

 

But does it matter if they’re late?

 

Thats correct.

 

Have they exceeded the £39 million loss over 3 years?

If they have are they in for another points deduction?

 

For FFP the EFL are treating 2019/20 and 2020/21 as a single year and allowing clubs to make allowance for direct Covid-19 costs.

Get ready for more creative accounting this coming year.