[Archived] Financial Weekly

[philipl]

Apparently Stoke's offer for Etherington is currently £2m.

Been impressed by Etherington this season but I am not surprised Stoke are low balling it.

If West Ham haven't raised the funds when they clearly have had opportunities to do so (and get high wage earners off their books) I cannot see the arbitrators, the Courts or Sheffield United looking favourably if West Ham asked for deferred payment terms when the damages from all the cases are determined.

Eggert Magnussen is straightforward- they agreed to make a payment (which included taking his 5% shareholding) and have failed to honour it because of lack of cash.

The more this goes on, the more it points to a serious buyer.

[Iceman]

17. The Walker Family (Blackburn Rovers) £660m

this just makes you sick...i know Rovers are just 1 of their so called busineses, but jeez all we asking for is to give the manager enough money, to at least want to stay with the club for a longer period of time.

[dave birch]

Hidden down at joint 69 is one Robbie Fowler, late of this parish. He is worth £28m, down from £30m last year, so clearly he didn't make a bundle from Rovers. Presumably his decline reflects a reduction in the value of his property empire and will likely reduce further yet.

Tell me, How much his income has declined, and how much he has lost, given that you don't know if he has sold any of his portfolio? His "net worth" may have declined; tomorrow, with a different valuation it may increase.

That is the case with anyone on that list. Worth is all relative, loss depends on whether you sold an item for less than you bought it.

[philipl]

17. The Walker Family (Blackburn Rovers) £660m

this just makes you sick...i know Rovers are just 1 of their so called busineses, but jeez all we asking for is to give the manager enough money, to at least want to stay with the club for a longer period of time.

Icers, if you are going to start a Financial Weekly column, at least make an effort to read it!

[dave birch]

Does anyone know what the 660 million is made up of?

Rovers

Flybe

?

?

Cash?

[ace]

The more this goes on, the more it points to a serious buyer.

Philip, if that IS the case then no danger of administration for whammers?

[Iceman]

Icers, if you are going to start a Financial Weekly column, at least make an effort to read it!

sorry Philip, still trying to keep up here with all this big talk... thought i would just keep you happy with a thread that you always dreamt of having

[philipl]

Chelsea by any business rating ARE insolvent. Their debts are higher than their assets and only continue to trade because of Roman's largesse. Similarly Bolton are being bankrolled by their benefactor. And their debt is considerably higher ( so was ours until the trustees wrote it off. No sign of that from Bolton's backers). Both may eventually want some or all of the money out which is why they are rocky from an investment perspective. Equifax take a hard headed view and say that these businesses are not operating as businesses should - ie linking expenditure to income. In the days of plenty that didnt matter much as banks were lenient and self indulgent millionaires aplenty. Now no more. That is why the Trustees should be lauded and not pillioried as most of the numpties on here like to do.

There you go Iceman.

With regards to West Ham having no risk of administration if they have a buyer, actually the risk is greater.

They are behaving as though they are OK. As we have seen, the last Prem to actually get sold was City and the previous deals were the best part of a year before that. If the possible buyer walks, West Ham are in deep trouble and as Keith Harris said about them- there are two problemsd to selling West Ham: the price and Sheffield United.

[only2garners]

Tell me, How much his income has declined, and how much he has lost, given that you don't know if he has sold any of his portfolio? His "net worth" may have declined; tomorrow, with a different valuation it may increase.

That is the case with anyone on that list. Worth is all relative, loss depends on whether you sold an item for less than you bought it.

Sorry, but I don't follow your point. The list is of net worth and not income (and I've no idea how accurate it is). The comment about Rovers was a flippant one - clearly a few months with us will make damn all difference to is wealth.

[tony gale's mic]

17. The Walker Family (Blackburn Rovers) £660m

this just makes you sick...i know Rovers are just 1 of their so called busineses, but jeez all we asking for is to give the manager enough money, to at least want to stay with the club for a longer period of time.

It's worth noting the chairman of Cheltenham Town is worth £300m more.

[Iceman]

It's worth noting the chairman of Cheltenham Town is worth £300m more.

like i said, im no expert on these things... im still trying to understand it all. So Cheltenham Town's owner is worth 300Mill more than the trustees, but im guessing that means nowt in terms of that club's overall ability to compete on the field of play.

Phililp the above, does this go for other clubs as well in terms of their wealthy owners? Are the likes of Abromovich(sp) now holding the majority of their money safely locked up, due to this whole credit crunch. Is it merely now a case of damage limitations, for those who have pumped in loads of money and are seeing huge financial losses?

[Hughesy]

Adams has admitted that pompey wont have much to spend despite selling 2 players for over £30m. He has also admitted that some of the money has paid off 'old transfers'.

[Paul]

Didn't we discover from Lee a couple of seasons ago that the average ticket price at Ewood was just £13.00? Have you taken that and the probability that Derby's average is similarly low?

I got the figure from JW that the average price per seat was just under £13. That would have been a couple of seasons back. No I haven't taken that in to account as I was just doing a fag packet exercise for whoever was asking. Whatever the actual revenue figure is somewhat irrelevant. If Rovers avearge 22,000 and Derby 29,000 that's an extra 7,000 x £££ per ticket per match, even if Derby's average is £13 per ticket it still creates £90k per match.

[philipl]

Adams has admitted that pompey wont have much to spend despite selling 2 players for over £30m. He has also admitted that some of the money has paid off 'old transfers'.

They probably only got about £4m cash for the two of them:

Diarra-

+£5m = 25% of £20m up-front

- £2.8m = 20% of profit (£20m-£6m) sell-on paid to Arsenal

£2.2m cash to Pompey

Defoe-

+£15.75m = headline fee

- £4m = sell-on fee to Spurs

- £9.75m = balance of transfer fees owing to Spurs for Defoe and Kaboul

£2m cash to Pompey

They still have the headache of an outstanding balance to Liverpool on Crouch and the super-high wages they are paying. So Crouch is for sale and James, Campbell and Kanu will gratefully be given to anyone willing to take their £90k a week contracts.

[philipl]

It has emerged this morning that Pompey wrote a £700k loyalty bonus clause into Defoe's contract which got triggered as Defoe had not sought the transfer irrespective that he'd been at Pompey such a short time.

However, Pompey have re-assured their fans that Spurs paid it.

Oh yes? Spurs might have written the cheque but knock that out of whatever residual cash got paid to Pompey from the £15.75m headline figure!

The other funny thing is that because Defoe is in dispute with agent Sky Andrews, he got his Mum to handle this transfer!

[DP]

Jermaine must be a very wealthy young man after all his transfers over recent years.

Interesting what Adams said about paying off some old transfer fees. My Pompey supporting colleague still insists they haven't paid the 5 million for Pedro Mendes yet! And he's up in the English 5th Division now if I'm not mistaken.

[iamarover]

There you go Iceman.

With regards to West Ham having no risk of administration if they have a buyer, actually the risk is greater.

They are behaving as though they are OK. As we have seen, the last Prem to actually get sold was City and the previous deals were the best part of a year before that. If the possible buyer walks, West Ham are in deep trouble and as Keith Harris said about them- there are two problemsd to selling West Ham: the price and Sheffield United.

The Times today.http://www.timesonline.co.uk/tol/sport/football/premier_league/west_ham/article5478675.ece

last sentence....West Ham were already a questionable purchase in the short term, but the chances of concluding a takeover now appear dead

[trs]

Bolton wanderers final financial figures for 2008

http://www.bwfc.premiumtv.co.uk/page/Gener...1513089,00.html

[Grez]

I notice that Rovers are officially "OVERDUE" on posting accounts with companies house according to their website...

Any thoughts on reasons why?

[AndyNeil]

most probably becuase they havent been signed off ...

[Jan]

most probably becuase they havent been signed off ...

If they've been presented to the shareholders- which I am pretty sure they have, they've been signed off. Probably just forgot (although technically the due date is 31 January- ie today).

[92er]

Philip has said in another thread that he had the accounts in front of him.

The AGM was a week last Friday.

The annual report was delivered to shareholders just before Christmas.

[philipl]

It is not unknown for Companies House to be slow in recording accounts as having arrived.

[Grez]

It is not unknown for Companies House to be slow in recording accounts as having arrived.

Any chance you can share the highlights? Or do we have to wait until Companies House catch up - ironic really if they are slow in publishing...I wonder if we can fine them? lol

[DeadlyDirk]

Might be worth checking other premiership clubs? Could be that they changed the deadline date due to the transfer window?