Good to see they're learning lessons at least by paying what I assume will be substantial wages to the two former Rotherham lads
When you see figures like £124 million quid as debt then think back to the amount that we were forced into admin with. At least we had some reasonable explanation with ITV digital going tits up. Are they at the point where it is impossible to turn round but the owner won't admit it?
Surely Man City incur bigger losses? Given the huge amount of recapitalisation they keep doing to write off hundreds of millions of losses.
Don't think it's about overall debt Sheffield Wednesday have been labelled as the worst financial performers in all of Europe last year, according to Off The Pitch. Off The Pitch apply a weighted model of EBITDA margin (earning before interest, taxes, depreciation and amortization), return on assets and equity ratio to 185 European clubs to rank each one based on their financial stablility and viability. Having compiled a list of most European sides, Wednesday finished bottom of that list. Clubs that include transfer revenue in their total turnover have been excluded to create fairness. After all clubs were ranked, the Owls were placed bottom after a series of financial struggles in recent years.
That just seems to concentrate on revenue generated. Not spent or debt. Or am I missing something here?
The Deloitte analysis shows revenue generation. The earning power of clubs. Deloitte also produce a more in-depth analysis which considers revenue, costs and debt. https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/sports-business-group/deloitte-uk-annual-review-of-football-finance-2021.pdf
And there's me thinking the purpose of a football club is to play football but it turns out it's all about making money....
To date (as of 20-21 YE), their accumulated losses are £728.28m. They are propped up by called up share capital of £1.339bn. And let's not get into their overstated sponsorship deals and the lengths they go to in order to pretend involvement with associated companies are at arms length. Seeing as you like a link. mcfc-financial-report-2021.pdf (mancity.com)
To put BFC in context, the average turnover in the Championship, excluding parachute payments is around £20m. In a normal season BFC are around £14m give or take. Typically not the smallest revenue but in the lower reaches around 20th of 24. The big skew is between clubs with parachute payments which virtually doubles the average revenue. League one average revenue is around £6m we should be marginally above that at around £8m. Even the bigger clubs in league one like Sunderland and Wednesday only generate around £15m (normalised to take account of the Covid impact on ticket sales). In league one our revenue would be expected to be above average but certainly not MASSIVE.