£2.7m loss for the year to 30 June 2019

[Ronnie Hotdogs]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

And people had the nerve to say Salford bought their place in the football league.

[Rich Tea Wellin]

We were losing ~500k a year under Hearn in League One, right? Is it similar to last years losses?

[Still's Carenae]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

And people had the nerve to say Salford bought their place in the football league.

We were still trying to re-build the club. Many extra non recurring expenses, even from the clown era are still being paid. This year would have been better. Our outgoings are £7m against a rising income of £5m(Macklin - on Orient hour?)

But longer term the club are looking at breakeven.

The current pandemic, may change the way football is financed. Clubs may be forced to breakeven. Which is not a bad thing.

[Ronnie Hotdogs]

We were losing ~500k a year under Hearn in League One, right? Is it similar to last years losses?

£2.3m loss in their first full year to 30 June 2018.

[Long slender neck]

Need to know what it was in previous seasons.

[Ronnie Hotdogs]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

And people had the nerve to say Salford bought their place in the football league.

We were still trying to re-build the club. Many extra non recurring expenses, even from the clown era are still being paid. This year would have been better. Our outgoings are £7m against a rising income of £5m(Macklin - on Orient hour?)

But longer term the club are looking at breakeven.

The current pandemic, may change the way football is financed. Clubs may be forced to breakeven. Which is not a bad thing.

The argument of costs coming out of the woodwork was used in 2017/18 to justify the loss of £2.3m.

Now, I accept there may still have been some items in the last year that cropped up but come on. This is down to our wage bill.

[Ronnie Hotdogs]

Need to know what it was in previous seasons.

It's all on public record, knock yourself out.

[Long slender neck]

Need to know what it was in previous seasons.

It's all on public record, knock yourself out.

Seeing as you appear to know what you're doing, could you just post it all up here for us?

[Long slender neck]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

And people had the nerve to say Salford bought their place in the football league.

We were still trying to re-build the club. Many extra non recurring expenses, even from the clown era are still being paid. This year would have been better. Our outgoings are £7m against a rising income of £5m(Macklin - on Orient hour?)

But longer term the club are looking at breakeven.

The current pandemic, may change the way football is financed. Clubs may be forced to breakeven. Which is not a bad thing.

The argument of costs coming out of the woodwork was used in 2017/18 to justify the loss of £2.3m.

Now, I accept there may still have been some items in the last year that cropped up but come on. This is down to our wage bill.

Would have been plenty of bonuses paid out for winning the league and the cup final. May also have been costs relating to Justins death.

[Thor]

I've not looked but I'd wager that we file as little information as possible. Doubt theres a p and l filed and the bare minimum supporting behind that.

[LittleMate]

We were still trying to re-build the club. Many extra non recurring expenses, even from the clown era are still being paid. This year would have been better. Our outgoings are £7m against a rising income of £5m(Macklin - on Orient hour?)

But longer term the club are looking at breakeven.

The current pandemic, may change the way football is financed. Clubs may be forced to breakeven. Which is not a bad thing.

The argument of costs coming out of the woodwork was used in 2017/18 to justify the loss of £2.3m.

Now, I accept there may still have been some items in the last year that cropped up but come on. This is down to our wage bill.

Would have been plenty of bonuses paid out for winning the league and the cup final. May also have been costs relating to Justins death.

Agree about the cost of Justin's death. Best to get the costs out of the way whilst in the NL as the FL have more stringent financial rules.

[Still's Carenae]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

And people had the nerve to say Salford bought their place in the football league.

We were still trying to re-build the club. Many extra non recurring expenses, even from the clown era are still being paid. This year would have been better. Our outgoings are £7m against a rising income of £5m(Macklin - on Orient hour?)

But longer term the club are looking at breakeven.

The current pandemic, may change the way football is financed. Clubs may be forced to breakeven. Which is not a bad thing.

The argument of costs coming out of the woodwork was used in 2017/18 to justify the loss of £2.3m.

Now, I accept there may still have been some items in the last year that cropped up but come on. This is down to our wage bill.

I think it is more about rebuilding the clubs infrastructure and expanding other areas. The board said it would take around 18 months to get everything back in place, but you have to spend to get us back. We also had to pay more for the academy, rebuilding and funding the club shop. Work has been done on the east stand as well.

They have probably pushed as many costs as possible into 18-19 season and possibly held some income back to comply with efl rules.

I don't know what the players bill was, but this year it is 55% of turnover max.

With one of costs reducing, our accounts should improve.

[Thor]

Wasn't it said by danny on a podcast that our wage bill was below 50% I'll see if I can find it cos I remember commenting at the time that it is sustainable at the level he quoted. Its said that 60% is the max it should be to turnover and a little lower at our level like SC just mentioned at 55%.

[slacker]

Always concerns me when clubs have to rely on sugar-daddies to balance the budgets (that they set).

[Thor]

This is what I said on the thread of the orient hour 6 feb, I was referring to Danny Macklin.

Interesting that he says players wages are are below 50% of turnover, now that’s impressive and certainly way within the sustainability percentage that most professionals say clubs should be operating at.

[Thor]

If that's the case and the 7m figure is accurate to break even our turnover is approx 4.3m if salaries are less than 50% so let's be generous and say its 50 then the playing side is 2.15m which leaves us with approx 4.85m of other costs in the business to get to the break even number and or the loss sustained.

[Max B Gold]

Always concerns me when clubs have to rely on sugar-daddies to balance the budgets (that they set).

You worry to much. They must have set a deficit budget knowing they would need to finance it. My only worry is how deep their pockets are.

[slacker]

When you think of the small number of Clubs that go to the wall because of debts, you are probably right, Maxy.

[A Pedant]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

That's quite a significant difference to the estimate of £1.9m loss for 18/19, which was that given to the club AGM in April 2019.

[North Stand Dave]

I have heard Travis & Teague are still paying off debt that Italian tw*t Benshitti left us in.
Something do with the clubs training ground.
Can't remember all the facts but there are a few things he left behind unpaid.
But I'm sure all things will be ok in the long run.

[North Stand Dave]

I have heard Travis & Teague are still paying off debt that Italian tw*t Benshitti left us in.
Something do with the clubs training ground.
Can't remember all the facts but there are a few things he left behind unpaid.
But I'm sure all things will be ok in the long run.

[Thor]

Accounts have been filed ahead of tomorrows deadline, showing what appears to be a loss of just over £2.7m for the year to 30/6/19.

That's quite a significant difference to the estimate of £1.9m loss for 18/19, which was that given to the club AGM in April 2019.

You're quite right they did mention they were still paying some bills from the idiots time.

The accounts would also have reflected Justin's death as it occurred within the accounting period. That would I hazard have a big provision made for this in terms of liabilities and potential pay outs under his contract etc.

The owners have since said they expect a loss of £1m in this financial year although I'd suggest that this might be optimistic once we are through this crisis.

[Adz]

219 staff, turnover of 3mm salaries at 4mm so if that 50% is true we must be paying 2.5mm for non playing staff. Salaries up 1mm yoy BTW.

[Top of the JES]

Salford have posted a £3.3 million loss for the same period including £488,000 in transfers which was more than 23 of the 24 clubs in league 2 last season. They may have owners with deep pockets but they cant sustain that for too long.

[Max B Gold]

Salford have posted a £3.3 million loss for the same period including £488,000 in transfers which was more than 23 of the 24 clubs in league 2 last season. They may have owners with deep pockets but they cant sustain that for too long.

No club can in the current circumstances.

Not even the moneybag EPL clubs because their overheads are crippling with no income coming in.