Financial Fair Play

399 posts
User avatar
WoodleyRoyal
Hob Nob Regular
Posts: 3106
Joined: 16 Jun 2008 10:49
Location: Dave Royal I'm Coming for you! whats your IP today?

Re: Financial Fair Play

by WoodleyRoyal » 02 Jun 2019 11:09

2013/14: £7,291,469 loss

2014/15: £2,588,554 profit

2015/16: £15,034,948 loss [three-year rolling: -£19,737,863]

2016/17: £4,661,150 profit [three-year rolling: -£7,785,244]

2017/18: £20,952,868 loss [three-year rolling: -£31,326,666]

User avatar
tidus_mi2
Hob Nob Regular
Posts: 3699
Joined: 15 Jun 2012 15:24

Re: Financial Fair Play

by tidus_mi2 » 02 Jun 2019 11:52

WoodleyRoyal 2013/14: £7,291,469 loss

2014/15: £2,588,554 profit

2015/16: £15,034,948 loss [three-year rolling: -£19,737,863]

2016/17: £4,661,150 profit [three-year rolling: -£7,785,244]

2017/18: £20,952,868 loss [three-year rolling: -£31,326,666]

Oh boy, that 2017/18 figure has us oxf*rd for another 2 seasons then, after which we should be in a better position to invest, as long as we're sensible about it.

Ron oxf*rd Gourlay.

User avatar
maffff
Hob Nob Addict
Posts: 5373
Joined: 25 Nov 2010 09:22

Re: Financial Fair Play

by maffff » 02 Jun 2019 13:00

tidus_mi2
WoodleyRoyal 2013/14: £7,291,469 loss

2014/15: £2,588,554 profit

2015/16: £15,034,948 loss [three-year rolling: -£19,737,863]

2016/17: £4,661,150 profit [three-year rolling: -£7,785,244]

2017/18: £20,952,868 loss [three-year rolling: -£31,326,666]

Oh boy, that 2017/18 figure has us oxf*rd for another 2 seasons then, after which we should be in a better position to invest, as long as we're sensible about it.

Ron oxf*rd Gourlay.


Just this coming season. We don't have details for the last financial year yet, but given income has drastically reduced due to parachute payments and we no doubt made a loss, across last season and thus combined we have a total of 39m over 3 seasons meaning about £18m for last year and this year's, so room for manoeuvre is no doubt slim...

So we need to
- increase revenues; and/or
- take quick action to get rid of the squad bloat; or
- make difficult decisions on players we want to retain where there may be interest

User avatar
Snowflake Royal
Hob Nob Addict
Posts: 8939
Joined: 20 Jun 2017 17:51

Re: Financial Fair Play

by Snowflake Royal » 02 Jun 2019 13:50

So last season we could manage with about -£18m losses, thanks to the profit at the start of the period. Hard to see us losing less than -£10m last season, almost certainly down on the one before, but I'd guess about -£14m is most likely.

Which means anything over about -£5m again next season is almost certainly a breach of FFP, and conceivably we could have no leeway for any loss at all.

So we're looking at potentially having to halve our losses two seasons in a row, or reduce them by three times more than we managed last season in a more pessimistic scenario.

You can see why Howe might have a tight grip on signings and self impose an embargo. We could at least then argue that a rogue CEO had screwed us over and we were taking every step possible to get back on track to get a warning rather than a points deduction.

Either way, financially next season looks a bit bleak, so bloody good job we've got a good Academy. Something we can fund to the hilt without worrying about FFP.

3points
Hob Nob Regular
Posts: 1945
Joined: 27 Oct 2013 17:22

Re: Financial Fair Play

by 3points » 02 Jun 2019 16:23

Didn’t Sheff Weds have a “self imposed” transfer ban last summer? In essence, it is the club signalling to (or agreeing with) the EFL that they are taking the whole FFP thing seriously and please don’t impose sanctions as we’ve been doing everything we can (ie the complete opposite of Birmingham City)


Hound
Hob Nob Super-Addict
Posts: 11209
Joined: 27 Sep 2016 22:16
Location: Simpleton

Re: Financial Fair Play

by Hound » 02 Jun 2019 17:08

I expect that’s certainly being looked into. Just blame fat Gourlay and say we are doing our best to comply.

User avatar
Snowflake Royal
Hob Nob Addict
Posts: 8939
Joined: 20 Jun 2017 17:51

Re: Financial Fair Play

by Snowflake Royal » 02 Jun 2019 18:54

Hound I expect that’s certainly being looked into. Just blame fat Gourlay and say we are doing our best to comply.

Shipping him and the DoF out after such a short time being here is a fairly compelling case to make combined with major savings and reduced transfer spending.

User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 05 Jun 2019 20:16

Please move this if there’s a more suitable home for it.

A bit worrying really. Our former holding company (Reading Asia Holdings Ltd) is in some trouble, to say the least, and will be struck off - and we still use them. Not sure what the FL make of it.

“Date: 04/06/2019
Ref: DEF6/09402921

Companies Act 2006 (Section 1000(3))

The Registrar of Companies gives notice that, unless cause is shown to the contrary, at the expiration of the date two months from the date above, and the name of:

Reading Asia Holdings Limited

Will be struck off the register and the company will be dissolved.

Upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the Crown.”


END.

This with our FFP position is a bit worrying really.

User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 05 Jun 2019 20:19

Then on June 5, 2019:

“Compulsory strike-off action has been discontinued. This document is being processed and will be available in 5 days.”

Anyone who studies the accounts able to shed any light on this, and what exactly it means for the club and our fragile position currently?


User avatar
Wycombe Royal
Hob Nob Addict
Posts: 6118
Joined: 14 Apr 2004 19:31
Location: The posh part of Winnersh

Re: Financial Fair Play

by Wycombe Royal » 05 Jun 2019 20:45

The strike off action is just their normal process where accounts haven't been filed. The business I work for was in the same position and we filed our accounts 6 months late for various reasons. It normally just requires them to get in contact and explain the situation so that CH stop the action. They will still get the fines though, but they are small and potential prosecution for the directors.

User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 08 Jun 2019 10:25

Are we certain that Caraboa are being replaced as shirt sponsor this summer? They’re contract is up I thought, but still nothing mentioned about a) a renewal or b) a new sponsor.

Either way I hope Nigel Howe has pushed for a much improved deal. He doesn’t have the best record in that field. In the Premier League we were bottom of the sponsorship table, and in this league we always find ourselves mid to lower table which is disappointing considering how far this club has grown over the last two decades.

Stadium sponsorship should also be a priority, but again that is something Howe has looked at (reportedly) offers in the past, but none were deemed suitable.

User avatar
Sutekh
Hob Nob Addict
Posts: 8585
Joined: 12 Feb 2014 14:05
Location: Destroying things.... just like Michael Gilkes used to

Re: Financial Fair Play

by Sutekh » 08 Jun 2019 10:43

Wallsy Are we certain that Caraboa are being replaced as shirt sponsor this summer? They’re contract is up I thought, but still nothing mentioned about a) a renewal or b) a new sponsor.

Either way I hope Nigel Howe has pushed for a much improved deal. He doesn’t have the best record in that field. In the Premier League we were bottom of the sponsorship table, and in this league we always find ourselves mid to lower table which is disappointing considering how far this club has grown over the last two decades.

Stadium sponsorship should also be a priority, but again that is something Howe has looked at (reportedly) offers in the past, but none were deemed suitable.


Carabao sponsorship definitely finishes this summer (unless someone quietly signed an extension in the last 3 years).

https://www.readingfc.co.uk/news/2016/j ... 6z4LzK5.99

Not sure how good that is though as given Reading’s miserable showing for the last couple of seasons which companies are exactly going to be queuing up? Perhaps a 1 year deal with options to review and extend might be appealing to some parties.

Perhaps a brand with Chinese connections might be in the offing (eg. Huawei seeing as they have offices in GP?) or more likely another local deal like the club had with Waitrose.

Whatever deal it finally turns to be as it’s going to effectively be a buyer’s market I don’t think it will bring in all that much money.

Nameless
Hob Nob Addict
Posts: 5484
Joined: 23 Aug 2013 12:25

Re: Financial Fair Play

by Nameless » 08 Jun 2019 11:33

CAsh converters have just pulled out of a shirt sponsor deal with London Irishciting moral issues as the reason.
Perhaps they might fancy coming across to the round side ?


User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 08 Jun 2019 16:34

Nameless CAsh converters have just pulled out of a shirt sponsor deal with London Irishciting moral issues as the reason.
Perhaps they might fancy coming across to the round side ?


Sounds quite apt at present :lol:

User avatar
From Despair To Where?
Hob Nob Addict
Posts: 8556
Joined: 19 Apr 2004 08:37
Location: With grace we will suffer, with grace we shall recover

Re: Financial Fair Play

by From Despair To Where? » 09 Jun 2019 10:09

It's going to be a £25m a year deal with a Chinese property company that owns shopping malls.

User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 09 Jun 2019 19:04

Jose confirms the self-imposed transfer embargo will be lifted tomorrow. Clearly something financially has changed and we are free to sign players again.

Hound
Hob Nob Super-Addict
Posts: 11209
Joined: 27 Sep 2016 22:16
Location: Simpleton

Re: Financial Fair Play

by Hound » 09 Jun 2019 19:36

Intriguing comments certainly

Zip
Hob Nob Addict
Posts: 5542
Joined: 30 Dec 2017 16:39

Re: Financial Fair Play

by Zip » 09 Jun 2019 19:39

Wallsy Jose confirms the self-imposed transfer embargo will be lifted tomorrow. Clearly something financially has changed and we are free to sign players again.


That’s odd. Not sure what would have changed since he made the comment a few weeks ago.

User avatar
Wallsy
Member
Posts: 150
Joined: 08 May 2019 15:42

Re: Financial Fair Play

by Wallsy » 09 Jun 2019 20:40

Chronicle “hearing” that Celtic want Liam Moore. I can’t imagine they can cough up £7m+ for him, and I doubt we’re prepared to spread the costs a great deal.

We know players will leave this summer though, so brace yourselves. Needs must.

User avatar
Snowflake Royal
Hob Nob Addict
Posts: 8939
Joined: 20 Jun 2017 17:51

Re: Financial Fair Play

by Snowflake Royal » 10 Jun 2019 07:22

Worrying we're told there's a self imposed embargo and then the second a Moore rumour turns up it's lifted.

Don't get me wrong, he's got to be close to our highest earner and almost certainly getting paid well above his value. He's also one of our most valuable players to sell, but we're so chronically short at CB I wouldn't want to sell him even though he's probably the single biggest wages off the bill / incoming transfer fee combination we could get.

I feel there are other players who could command multi- millions we'd miss far less *coughSwiftcough*

399 posts

Who is online

Users browsing this forum: No registered users and 8 guests

It is currently 22 Oct 2019 15:27