RFC 2014 accounts

[3points]

These are summaries from the accounts. The highlights are as follows (this is all from the Football Club accounts and not the RFC Holdings accounts):

Turnover fell from £59 to £38 million
Operating expenses fell from £62.5m to £49.3m. Of this wages fell from £46m in 2013 to £34.5m in 2014, though player numbers remained the same at 53, though management and coaching staff number increased from 81 to 102 in 2014.

The club made a £5m profit on selling players up to 30 June 2014 (presumably Mariappa, Kebe and Le Fondre). It also sold players for £5.5m after this date (Morrison, McCarty)

Interest payable increased to £1.4m from £0.6m

net loss for the year was £7.3m, compared to £2.3m the previous year.

As at 30 June, RFC Holdings held all the shares and any debt that had previously been provided by TSI had also been transferred to RFC Holdings. As at 30 June all the debt had been assigned to a third party lender, though the accounts do not state who this was (Vibrac perhaps at that date, or maybe the Thais had already started to step up). Other loans in the accounts are now nearly £47m. However, this is largely a reallocation of previous debts from long term to short term liabilities as total creditors only increased from £55.8m to £59.6m. SJM put in another £1.6m in new loans.

The land at Bearwood has been acquired for £4.5m subject to planning permission being granted and the club potentially owes £2.5m on player transfer fees which are dependent upon certain performance criteria being reached.

2014 2013
£m £m
Turnover 38.1 59.2
Operating expenses* 49.3 62.5
Other operating income 0.3 0.3
Operating loss -10.8 -2.9
Profit on disposal of players 5.0 1.1
Loss before interest & tax -5.9 -1.8
Interest payable -1.4 -0.6
Loss for year -7.3 -2.3

*Operating expenses 34.6 46.2
(inc staff costs)

[3points]

These are summaries from the accounts. The highlights are as follows (this is all from the Football Club accounts and not the RFC Holdings accounts):

Turnover fell from £59 to £38 million
Operating expenses fell from £62.5m to £49.3m. Of this wages fell from £46m in 2013 to £34.5m in 2014, though player numbers remained the same at 53, though management and coaching staff number increased from 81 to 102 in 2014.

The club made a £5m profit on selling players up to 30 June 2014 (presumably Mariappa, Kebe and Le Fondre). It also sold players for £5.5m after this date (Morrison, McCarty)

Interest payable increased to £1.4m from £0.6m

net loss for the year was £7.3m, compared to £2.3m the previous year.

As at 30 June, RFC Holdings held all the shares and any debt that had previously been provided by TSI had also been transferred to RFC Holdings. As at 30 June all the debt had been assigned to a third party lender, though the accounts do not state who this was (Vibrac perhaps at that date, or maybe the Thais had already started to step up). Other loans in the accounts are now nearly £47m. However, this is largely a reallocation of previous debts from long term to short term liabilities as total creditors only increased from £55.8m to £59.6m. SJM put in another £1.6m in new loans.

The land at Bearwood has been acquired for £4.5m subject to planning permission being granted and the club potentially owes £2.5m on player transfer fees which are dependent upon certain performance criteria being reached.

2014 2013
£m £m
Turnover 38.1 59.2
Operating expenses* 49.3 62.5
Other operating income 0.3 0.3
Operating loss -10.8 -2.9
Profit on disposal of players 5.0 1.1
Loss before interest & tax -5.9 -1.8
Interest payable -1.4 -0.6
Loss for year -7.3 -2.3

*Operating expenses 34.6 46.2
(inc staff costs)

Sorry for the loss of formatting on the figures at the end, but basically the first number is for 2014 and the second is for 2013.

[bobby1413]

What does all this mean? (I can't be bothered to read it all. Is it good or bad?

[Royal Ginger]

My untrained eye would say that it's a bit bad, but not the end of the world.

Got to sell another 5-7m worth of players next season or reduce the wage bill by that much...i think.

[Sutekh]

Losing Guthrie and Drenthe's wages in the summer will hopefully make a small dent in that then.

[multisync1830]

STAR suggest the deficit is not as much as 53m. from these figures what would be your best guess.

[Royal Ginger]

Losing Guthrie and Drenthe's wages in the summer will hopefully make a small dent in that then.

A very small one. Unless something comes out of the blue I can't see much of an option other than selling McCleary and Obita.

[harry]

Losing Guthrie and Drenthe's wages in the summer will hopefully make a small dent in that then.

A very small one. Unless something comes out of the blue I can't see much of an option other than selling McCleary and Obita.

As well as Guthrie & Drenthe the following have contracts until the summer according to Tilehurst End's list
http://thetilehurstend.sbnation.com/201 ... ract-dates

Senior squad:
Adam Federici
Mikkel Andersen
Chris Gunter
Stephen Kelly
Alex Pearce
Shaun Cummings
Danny Guthrie
Jem Karacan
Royston Drenthe

Under 21s
Stuart Moore
Jonathan Henly
Pierce Sweeney
Ryan Edwards
Craig Tanner
Dominic Samuel
Aleksandar Gogić
Samúel Friðjónsson

Under 18s
Daniel Williams

Suspect we'll see quite a few not being renewed again as FFP bites.

[largetrousers]

What came of Anton buying the ice hockey club? I heard rumours from inside the club that this is where the parachute money went.

[3points]

STAR suggest the deficit is not as much as 53m. from these figures what would be your best guess.

The deficit is £30m, up £7m from last year reflecting the loss for the year. The amount of debt in the club is now £46m, but this has built up over the years (the equivalent number last year was £39m).

Of course, you have to remember that debt is offset by assets as well, which includes the ground and the player registrations.

Losing Guthrie and Drenthe's wages in the summer will hopefully make a small dent in that then.

A very small one. Unless something comes out of the blue I can't see much of an option other than selling McCleary and Obita.

As well as Guthrie & Drenthe the following have contracts until the summer according to Tilehurst End's list
http://thetilehurstend.sbnation.com/201 ... ract-dates

Senior squad:
Adam Federici
Mikkel Andersen
Chris Gunter
Stephen Kelly
Alex Pearce
Shaun Cummings
Danny Guthrie
Jem Karacan
Royston Drenthe

Under 21s
Stuart Moore
Jonathan Henly
Pierce Sweeney
Ryan Edwards
Craig Tanner
Dominic Samuel
Aleksandar Gogić
Samúel Friðjónsson

Under 18s
Daniel Williams

Suspect we'll see quite a few not being renewed again as FFP bites.

We should also remember that next year's parachute payment will reduce significantly from further impacting on FFP. Of the turnover for the year of £38m, £27m came from "Media and Broadcasting" - I can't remember if the parachute payment was £16m or £23m, but this I think will reduce. Therefore, there is likely to be major player reductions / changes. If players like Feds and Gunts want to stay then they will have to take pay cuts. But in the days of FFP, I believe player wages will start coming down unless there's a lot more TV money coming in, so it will be interesting to see what options some of these player take.

[Dick Habbin's hairdo]

Losing Guthrie and Drenthe's wages in the summer will hopefully make a small dent in that then.

A very small one. Unless something comes out of the blue I can't see much of an option other than selling McCleary and Obita.

As well as Guthrie & Drenthe the following have contracts until the summer according to Tilehurst End's list
http://thetilehurstend.sbnation.com/201 ... ract-dates

Senior squad:
Adam Federici
Mikkel Andersen
Chris Gunter
Stephen Kelly
Alex Pearce
Shaun Cummings
Danny Guthrie
Jem Karacan
Royston Drenthe

Under 21s
Stuart Moore
Jonathan Henly
Pierce Sweeney
Ryan Edwards
Craig Tanner
Dominic Samuel
Aleksandar Gogić
Samúel Friðjónsson

Under 18s
Daniel Williams

Suspect we'll see quite a few not being renewed again as FFP bites.

And out of that lot the highest potential revenue earner for the club isn't even listed..... Harry Cardwell.

[mambo3]

s Guthrie & Drenthe the following have contracts until the summer according to Tilehurst End's list
http://thetilehurstend.sbnation.com/201 ... ract-dates

Senior squad:
Adam Federici
Mikkel Andersen
Chris Gunter
Stephen Kelly
Alex Pearce
Shaun Cummings
Danny Guthrie
Jem Karacan
Royston Drenthe

Under 21s
Stuart Moore
Jonathan Henly
Pierce Sweeney
Ryan Edwards
Craig Tanner
Dominic Samuel
Aleksandar Gogić
Samúel Friðjónsson

Under 18s
Daniel Williams

Suspect we'll see quite a few not being renewed again as FFP bites.[/quote]

And out of that lot the highest potential revenue earner for the club isn't even listed..... Harry Cardwell.[/quote]

You just talk bollocks for the sake of bollocks.

[Ian Royal]

Wow, i knew the wages would be big, but for them to still be higher than our first two PL years is obscene. Anton really was a total shithouse.

[PieEater]

In our 2011/12 promotion season wages of £26.8m to turnover of £19.9m was 135%.

Now with the parachute payments it's 91%, still way too high.

[3points]

Wow, i knew the wages would be big, but for them to still be higher than our first two PL years is obscene. Anton really was a total shithouse.

Not really, it's just the over inflation of players' wage expectations and those of their agents.

Think there will be an increasing gulf between the wages in the Prem and the Championship with FFP in full effect in the Chump. Can't see players like Feds and Gunter get £20-25k per week in the Championship anymore.

[Forbury Lion]

Senior squad:
Adam Federici
Mikkel Andersen
Chris Gunter
Stephen Kelly
Alex Pearce
Shaun Cummings
Danny Guthrie
Jem Karacan
Royston Drenthe

If the above are all out of contract in the summer I would consider keeping Federici, Pearce, Karacan and Gunter or Cummings.

Federici - we need a goalkeeper
Pearce - perhaps our best option at central defence
Karacan - If his long term injuries are one-off freak accidents, keep him as he's a great player when he plays, If he's injury prone a new contract might be a luxury we can't afford.
Gunter/Cummings - We need a right back, I'd opt to keep Cummings myself but Gunter is the first team starter. If we can get someone better then let them both go.

[Royal Ginger]

Karacan's contract is a tough one. Great player, greater personality to have around, but he's spent two years of the last four injured making his £/game ratio very high. I'd love to keep him at the club, but not as a high earner.

[ZacNaloen]

Karacan has an option on his contract for another year, if his next 6 months are mostly* injury free I'd take it up and see what happens next year.


* minor muscle injuries are common when coming back from something like he's had so wouldn't hold those against him...

[Nameless]

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 !

[Royals and Racers]

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 ?