RFC 2014 accounts

[Ian Royal]

Yes there's someone who writes a full breakdown article. Not on HNA although it often gets linked. At least I've seen it in the past.

There's a lot of people around on here who look at the accounts and can give some pretty good analysis of them.

[3points]

I thought i would provide some highlights rather than a full write up. To be honest, I cba to do something longer and some of it is still speculation without knowing exactly what happened with TSI and Vibrac.

The most interesting point for me in the accounts is that the full debt has been transferred to a third party lender. Who at is, who knows. But it could be quite I portmant for the future of the club at some point.

The other interesting point is that the TSI debt was transferred across to HOldings. I suspect that while the full amount of the debt still sits in the accounts of the football club, I think this debt was transferred at little or no value, but it does allow for its potential repayment at some point in the future (which is highly unlikely in my view, but it is a case of keeping your options open).

I could get very technical on this stuff, and am happy to try to answer questions where I can.

[3points]

There is a guy who each year does a very good analysis of the accounts for STAR, I can't recall his name and there is every chance he posts on here.
Any way, what he produces always seems very credible and usually corrects all the misconceptions, misrepresentations and misunderstandings that get posted on here as being 'facts'. I hope he is doing the same with this years's accounts and look forward to reading something on the subject which casts genuine light.
I recommend others do the same !

"3 points" in my opinion has posted the facts succinctly and his responses to further questions have been insightful (on both threads running) so i assume you are referring to others ?

Cheers R&R

[loyalroyaldaz]

Does it look like anywhere in there that the future parachute payments were mortgaged/loaned from Vibrac and that money subsequently dissapeared somewhere as i have been led to believe?

[3points]

Does it look like anywhere in there that the future parachute payments were mortgaged/loaned from Vibrac and that money subsequently dissapeared somewhere as i have been led to believe?

Daz, there's nothing in there that can help anyone draw those kind of conclusions. Unfortunately the accounts only state that the debts had been transferred to a third party lender (who, conceivably could have been Vibrac as at 30 June 2014).

There's no comments with regards to the parachute payments so anything you hear is probably just a rumour based upon some element of truth. I think it is widely accepted that Vibrac lent money against parachute payments (that's normal business practice of for them) as those payments aren't received until the end of the season. The fact the interest bill was only £1.4m also suggests to me that Vibrac probably only lent around £15 to £18m assuming an interest rate of about 10% for 10 months or so.

Sorry I can't help further.

[westendgirl]

There is a guy who each year does a very good analysis of the accounts for STAR, I can't recall his name and there is every chance he posts on here.
Any way, what he produces always seems very credible and usually corrects all the misconceptions, misrepresentations and misunderstandings that get posted on here as being 'facts'. I hope he is doing the same with this years's accounts and look forward to reading something on the subject which casts genuine light.
I recommend others do the same !

"3 points" in my opinion has posted the facts succinctly and his responses to further questions have been insightful (on both threads running) so i assume you are referring to others ?

Cheers R&R

I understand the annual analysis is on its way and will be posted on the STAR website when available.

[Vision]

Bucks Dave was the guy who usually managed to summarize it better than most on here and I think he's the guy that does it for Star too.

[Reading4eva]

Out of interest, were Royston's wages being paid by Sheffield Wednesday or do these accounts include what we were paying him. Anyone have an idea on this front?

These financial figures however are an absolute disgrace to those at the top of the tree.

[Nameless]

Don't league rules state that clubs loaning players have to pay a minimum % of wages ?

What about that them are 'disgraceful' ?

They are better than a lot of clubs, but need to be improved significantly. Don't think the Thai's will go down the road that TSI went though so I certainly e pact to see us get back on track, although there are significant obstacles to overcome.

[Harpers So Solid Crew]

Can someone show how the debt has increased over the years, it is surely unsustainable now.

[Ian Royal]

Can someone show how the debt has increased over the years, it is surely unsustainable now.

Very sketchy and incomplete, but iirc the basics are

2014-15: ?
2013-14: -£7m
2012-13: -£2m
2011-12: -£12m
2010-11: ? ~ roughly break even?
2009-10: ? ~ roughly break even?
2008-09: ? ~ roughly break even?
2007-08: +£5m
2006-07: +£4m
2005-06: ~ -£5m
2004-05: ~ -£4m
2003-04: ~ -£4m
2002-03: ~ -£3m

[WoodleyRoyal]

its not like you to be vague ian....

[Harpers So Solid Crew]

Except that is the rough profit or loss, not the debt.

The debt has changed within those figures.

[Green]

Except that is the rough profit or loss, not the debt.

The debt has changed within those figures.

Are you suggesting someone's cooked the books, 2-0

[Ian Royal]

Except that is the rough profit or loss, not the debt.

The debt has changed within those figures.

Which is largely how the debt changes most years. I did say it was incomplete.

It accounts for an increase in debt of about £28m over the last 12-15 years.

[winchester_royal]

I assume the point has already been made - but it's important to remember that these accounts show the state of affairs as at 30th June 2014, so before the Thais came in and (supposedly) restructured our debt.

[Forbury Lion]

Yes there's someone who writes a full breakdown article. Not on HNA although it often gets linked. At least I've seen it in the past.

I think it's someone linked to STAR and it appears on http://star-reading.org/ but not forever as they take old news off and only keep the new news.

[M Brook]

Out of interest, were Royston's wages being paid by Sheffield Wednesday or do these accounts include what we were paying him. Anyone have an idea on this front?

The accounts are for the year ended 30 June 2014. Royston went to Wednesday in September.

[STAR Liaison]

Yes there's someone who writes a full breakdown article. Not on HNA although it often gets linked. At least I've seen it in the past.

I think it's someone linked to STAR and it appears on http://star-reading.org/ but not forever as they take old news off and only keep the new news.

The latest report / analysis by a knowledgeable STAR member (aren't we all?) has just been posted on the STAR website 9th Jan 4.55pm so that should add some facts to this thread.

[handbags_harris]

Completely off topic Star, but you'll need to change the kit colour next to Cardiff away travel now...