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Chelski accounts
Posted by Ltfc39 on 14/4/2024, 13:15:35
Came out yesterday. Astonishing numbers yet compliant.
I say again, what is the point of trying to compete with this?
⚽️Revenue £512m ⬆️ 6% ⚽️Wages £404m ⬆️ 18% ⚽️Player costs (wages & amortisation) £119 for every £100 of revenue ⚽️Day to day losses £249m ⚽️Player purchases £745m ⚽️Player sales £203m ⚽️Borrowings in year £428m (Source: Kieran Maguire)
Compliant due to Chelsea doing an intercompany transfer of a hotel which outstripped any transfer income.
What will happen is that their numbers will start catching up with them next year.
Re: Chelski accounts
Posted by HH on 14/4/2024, 14:27:31, in reply to "Chelski accounts"
So they're only compliant because their holding company switched a hotel between sister companies for the price of £72m to bring their accounts into line?
Is that any different to City using Etihad to sponsor them at inflated prices to avoid FFP issues?
Slightly different as Etihad are not part of the same group of companies.
Premier League clubs had the opportunity to stop this sort of thing 3 years ago (see Derby) and they chose not to.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 13:27:45, in reply to "Chelski accounts"
I usually disagree with those saying the rich 6 (or 7) should just fuck off, citing the fact that TV revenues would plummet, which they will
But I'm beginning to be swayed by the argument now. I don't know what would become of the English game if that happened... but what's happening now is pretty shit
Re: Chelski accounts
Posted by Town planner on 14/4/2024, 15:29:46, in reply to "Re: Chelski accounts"
Initially the Super League would be a massive success in financial terms, but longer term I’m not sure how successful it would be.
You’d have say 7 English teams, 4 each from Spain and Italy plus maybe 2/3 from France. Outside of Bayern Munich I’m not sure German teams will join, so it will be a smattering of makeweights.
But if you’re an Ajax fan would you really want to be in a league where finishing in the bottom six every season and no relegation. Same for Spurs, a good season would be mid-table.
Local fans of the English clubs would become priced out/disillusioned so the atmosphere at games will be awful – 70% tourists and daytrippers.
As I said earlier the split would have to be 100% hardcore, breakaway clubs have nothing to do with each apart from transfers. Not even an academy pre-season friendly can take place.
Over time I think momentum would swing away from the Super League and even without the ‘big 7’ the PL has strong pulling power, so revenues won’t collapse completely. The European tournaments will likely get more interesting also.
The only way a Super League would work is of they widen it to say four leagues, but the appetite among fans is just not there.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 16:24:01, in reply to "Re: Chelski accounts"
Good post
I do disagree with your penultimate paragraph. I think TV revenues would fall through the floor and that would have obvious implications. A league where Villa, West Ham and Brighton are the giants would have very limited appeal
I agree that, over time, interest might fade in a Euro super league but your idea of 4 divisions in a Euro League is very interesting and would create jeopardy in that system, making it more attractive. I reckon, if that's the way the wind ended up blowing, there would be queues of clubs in England, Spain, Italy, Germany and France willing to join even if it means starting in Div 4 in that system. I'd never really thought of that possibility before but, if that became a reality, that would really be the death knell for pyramids across Europe and the death of loads of football clubs (if there is a promotion and relegation system between the ESL and the national pyramids that might prevent that. But how would that work? How many go up and down? What leagues would it be open to?)
What will happen is that there will be less money in the game meaning less inequality between the haves (West Ham, Villa, Newcastle, Wolves, etc.) and the have nots (Accrington Stanley, Colchester, Grimsby, Rochdale etc.) which ultimately will be better for the game as a whole.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 16:14:09, in reply to "Re: Chelski accounts"
Newcastle would be in the super league. The Saudis would demand it otherwise the buzzsaws might come out again
Thing is the rich 6 or 7 feel they don't need the pyramid anymore. But they do need it. However, the rest of the pyramid needs them too whether we like that inconvenient truth or not
A league where Villa and West Ham are the main draw would not be attractive to many. The young are needed to keep clubs going but my main concern would be the young would just get drawn into the glory hunting of a Euro super league and the clubs left behind would struggle to get kids involved and engaged. Worst case scenario but that is a risk
But, as I say, I think telling the rich clubs to go would be an interesting experiment and I am, reluctantly, warming to it
The young are needed to keep clubs going but my main concern would be the young would just get drawn into the glory hunting of a Euro super league and the clubs left behind would struggle to get kids involved and engaged.
That's been happening for years: kids wearing Real Madrid, Barcelona, PSG, etc. shirts along with the obligatory Liverpool, man City, arsenal, etc regalia.
Shame it's come to this, though
Isn't it just.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 17:03:06, in reply to "Re: Chelski accounts"
That's been happening for years: kids wearing Real Madrid, Barcelona, PSG, etc. shirts along with the obligatory Liverpool, man City, arsenal, etc regalia.
Quite how anyone can support a team from a place that they have zero connection to still baffles me.
Re: Chelski accounts
Posted by Ches Fordroad on 14/4/2024, 16:26:53, in reply to "Re: Chelski accounts"
Be great to be rid of the cheats once and for all, if that leads to a less "attractive" package and a reduction in TV money so be it - might flush out a few clubs living way beyond their means too.
One thing I guarantee about the ESL when it happens, it'll be organised on similar lines to the NFL, with small divisions, so no-one finishes lower than 4th or 5th in their league, to spare some big fish the embarrassment of finishing 20th, or 24th.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 16:38:30, in reply to "Re: Chelski accounts"
As Town Planner suggests, though, without the jeopardy, I think even that system would end up becoming pretty boring
In the NFL half the teams' seasons are over after about 9 or 10 games. European football fans wouldn't like that. Even the younger generations
Re: Chelski accounts
Posted by Ches Fordroad on 14/4/2024, 16:49:13, in reply to "Re: Chelski accounts"
The owners of these clubs wouldn't give a shit though as long as the money keeps rolling in, and it'd be even more driven by TV money versus gate money than the current PL set up.
And there'll always be a tourist daytripper market who'd turn up to - say - Tottenham v Juventus even if it were a meaningless match because it'll be their only chance to ever see a game there.
Re: Chelski accounts
Posted by Music Critic on 14/4/2024, 16:57:18, in reply to "Re: Chelski accounts"
Yeah, that's a very real possibility. What might happen, though, is if people do get bored, the TV subscriptions/revenues will dry up
I mean this all might be moot as the regulator, in theory, is supposed to be protecting the pyramid in this country. Let's see how that pans out in the face of big money interests
I was hoping that the TV revenues would dry up in PL but clearly that's not going to happen despite the predictability eit all. In that sense Leicester winning it in 2016 was probably the worst thing to happen as it shows the smaller clubs can sometimes break into the big 6.
When (not if) the big clubs sod off and join their European Super League, they need to be expelled from their respective national Football Associations, so that when (not if) the money runs out - which it will when most games have nothing riding on them so it'll turn into a never-ending cycle of pre-season friendlies - they can re-join at the bottom of the pyramid.
And because the clubs won't be members of their Football Associations, none of their players will be eligible for their national teams.
Posted by J in c on 14/4/2024, 13:20:48, in reply to "Chelski accounts"
Who cares
Re: Chelski accounts
Posted by Random number generator again on 14/4/2024, 21:20:28, in reply to "Re: Chelski accounts"
Can go through all those examples later or tomorrow but somehow it opened in Summer 2016..possibly an oversight when PL Rules transferred across, came to prominence in Spring 2019, clubs first considered it in Spring/Summer 2018.
Loophole shut Summer 2021.
Re: Chelski accounts
Posted by Random number generator again on 14/4/2024, 21:17:40, in reply to "Re: Chelski accounts"
To cut a long story short, they've basically done a Derby. (Plus Aston Villa, Birmingham, Blackburn, Reading, Sheffield Wednesday, Stoke).
One difference here is that this maybe an outright sale rather than Sale and Leaseback, I haven't looked in depth and it is Hotel and Carpark rather than Stadium.
However the underlying principle is the same. Fixed Asset sold/sold and leased back at a Profit to offset or mitigate losses.
EFL managed to get the loophole shut in 2021, less than clear in the PL.
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