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- Re: Luton Town Football Club 2020 Limited - 2022/23 Accounts
Regarding the highest paid director (i.e. GS) salary, I expect the increase is driven by a promotion bonus. His prior year salary I think is low by Championship CEO standards, although of course still very high by normal standards. It will be interesting to see what it is in the Premier and if it comes back down if we go down.
We don't disclose how much exactly the promotion bonuses are, but do say it's the main reason for the 10m increase. Forest did publish their payments for promotion bonuses which were £20.9m, so ours were considerably less. Of course they should have used the additional revenue from the following year to pay it, but decided to splurge it on new players instead.
I also note we now recognised a deferred asset for prior year losses. Sounds boring, but it means we assess that we will be profitable going forwards and the auditors are happy with that assessment.
There was also a 3m interest free loan advanced by one or more shareholders in the year, which was mostly repaid by the year end. It's a good thing to have that support to smooth over any cash flow bumps.
The profit on player/other trading is attributed mostly to NJ leaving.
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