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The FFP thread

Discussion in 'Hull City' started by SydneyTiger14, Jul 24, 2022.

  1. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    Acun didn't dispute the figures that Simon Jordan took from the accounts.
     
    #181
  2. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    "The accounts" show a 3m profit two seasons ago and an 8m loss a season ago. We don't yet know the figure from the last season completed.
     
    #182
  3. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    He didn't answer when asked what last seasons loss was and went on to say he expected to lose 10-15m per year, which is loosely in line with FFP.
     
    #183
  4. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    Depends what he's spending it on. Spending on infrastructure is exempt from FFP. If he's spending 10-15m* a season on our squad then that's irresponsibly ridiculous.

    *Considering you amortise transfer fees over the life of a contract.
     
    #184
  5. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    How is it? It's how you compete with teams spending the same. He has the money to invest so why is it irresponsible and ridiculous?
     
    #185
  6. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    Because not spending on the long term assets of the club would be foolhardy. The club needs to be sustainable. I don't want us gambling our future so that he can ride off in 10 years with us saddled with debt.
     
    #186
  7. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    How do you know he isn't? Infrastructure spending wasn't discussed but the plans for the academy were detaililed in the 'i' by Tan.

    Acun's wealth isn't the issue, the cap on squad investment is what he's complaining about. Clearly would spend more if allowed
     
    #187
  8. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    He could convert the club's debt into equity and spend more.
     
    #188
  9. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    What debt?
     
    #189
  10. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    You think the club is debt free?
     
    #190

  11. Mckechnie Orange

    Mckechnie Orange Well-Known Member

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    I don't know until I see the accounts.
     
    #191
  12. Howdentiger2

    Howdentiger2 Well-Known Member

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    It certainly isn't anymore
     
    #192
  13. originallambrettaman

    originallambrettaman Mod Moderator
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    We lost £8m last year, but made £2.5m the year before and another £2.5m the year before that (though I've no idea if the SMC numbers are taken into account).
     
    #193
  14. SydneyTiger14

    SydneyTiger14 Well-Known Member

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    I don't think the SMC losses can be taken into account for FFP or other clubs would use profitable ventures to offset losses.
     
    #194
  15. John Ex Aberdeen now E.R.

    John Ex Aberdeen now E.R. Well-Known Member

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    Was the £2.5 profit to June 22, as I've just listened back and he said we lost £8m, 20/21 and £11m the year before that?
     
    #195
  16. AlRawdah

    AlRawdah Well-Known Member

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    I’ve not listened, but is he combining Hull City and SMC accounts together when stating those losses?
     
    #196
  17. originallambrettaman

    originallambrettaman Mod Moderator
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    We don't know what the 2022 accounts show, they're not filed until the end of September.

    The last three years for the club are £8m loss / £2.5m profit / £2.5m profit and it can't be down to the SMC either, as their losses are only £1.5-2m a year (and that includes the COVID season).
     
    #197
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  18. John Ex Aberdeen now E.R.

    John Ex Aberdeen now E.R. Well-Known Member

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    So these people in the media just pick figures out of thin air:emoticon-0114-dull:
     
    #198
  19. John Ex Aberdeen now E.R.

    John Ex Aberdeen now E.R. Well-Known Member

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    Maybe, difficult to say.
     
    #199
  20. Anal Frank Fingers

    Anal Frank Fingers Well-Known Member

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    Pretty sure that the majority of Bowen's fee was accrued into future years to offset losses, so shouldn't be an 8m loss last year unless Covid impacted far more on revenue than seems possible.
     
    #200

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