Chelsea post £156m losses

[Bonnyloyal]

Swiss Ramble

@SwissRamble
·
15m

Replying to
@SwissRamble
#CFC pre-tax tax loss widened from £36m to £156m (£153m after tax), mainly due to profit on player sales falling £115m from £143m to £28m, though revenue rose £28m (7%) from £407m to £435m, while there was £13m other operating income. Total expenses shot up £117m (23%) to £631m.


Swiss Ramble

@SwissRamble
·
16m

Replying to
@SwissRamble
The main reason that #CFC revenue rose 7% was £91m (50%) increase in broadcasting from £183m to £274m, mainly due to deferred revenue from 2019/20, which offset COVID driven reductions in match day, down £47m (86%) to £8m, and commercial, down £17m (10%) to £154m.


Swiss Ramble

@SwissRamble
·
17m

Replying to
@SwissRamble
Significant #CFC cost growth: wages rose £49m (17%) to £333m, player amortisation up £35m (27%) to £162m (plus £18m impairment), £24m for “ongoing legal matters” and a £6m flip to £1m interest payable. Other expenses cut £15m (16%) to £81m, including lower match day costs.


Swiss Ramble

@SwissRamble
·
18m

Of course, all football clubs have been significantly hit by the effects of the pandemic, so (incredibly) #CFC £153m loss after tax is by no means the largest in Europe. In fact, it is “beaten” by Inter £215m, Juventus £184m, Roma £163m and especially Barcelona £422m.

 

[Gazrfc]

When you think of it that we were on the verge of being forced out of existence due to being £50m in debt, then you’ve got teams down south posting these type of losses like it’s nothing.

Even worse when you look at Barca being linked with paying £55m for a player when they are about 1 billion quid in debt.

Money has ruined the game unfortunately

 

[Loud and proud]

Quite Incredible those kind of losses will mean very little to a club like Chelsea.

 

[Blue Skies At Night]

When you think of it that we were on the verge of being forced out of existence due to being £50m in debt, then you’ve got teams down south posting these type of losses like it’s nothing.

Even worse when you look at Barca being linked with paying £55m for a player when they are about 1 billion quid in debt.

Money has ruined the game unfortunately

Wasn't it brought down to £30m? I seem to recall it was brought down & was well managable by the time Murray decided Rangers would be collateral damage to save his failing business.

 

[Hap Hapablap]

Wasn't it brought down to £30m? I seem to recall it was brought down & was well managable by the time Murray decided Rangers would be collateral damage to save his failing business.

£33m was our number and it was brought down to £18m.

Our situation had nothing to do with the debt we were carrying because it was being managed in a manner you'd expect from a business our size.

Not saying you're one of them but its amazing the amount of supporters who actually don't know the reasons why 2012 happened.

Murray was spooked by the potential BTC liability, Whyte stopped paying our taxes and drove us into the ground, vultures feasted on our carcass and tried to asset strip and enemies of Rangers in positions of power willingly let it happen.

 

[Helensburghloyal1]

Fuk the sfa

 

[Barrymoped]

Eye watering but unlike Barca and others on that list, their losses are being underwritten by Abramovich and not bank debt,

 

[linthousebear1981]

When you think of it that we were on the verge of being forced out of existence due to being £50m in debt, then you’ve got teams down south posting these type of losses like it’s nothing.

Even worse when you look at Barca being linked with paying £55m for a player when they are about 1 billion quid in debt.

Money has ruined the game unfortunately

They are not about a billion in debt, they are 1.5b in debt.

 

[Artful Dodger]

Chicken feed compared to Barcelonas debt.

 

[Baron Von Pie Muncher]

£33m was our number and it was brought down to £18m.

Our situation had nothing to do with the debt we were carrying because it was being managed in a manner you'd expect from a business our size.

Not saying you're one of them but its amazing the amount of supporters who actually don't know the reasons why 2012 happened.

Murray was spooked by the potential BTC liability, Whyte stopped paying our taxes and drove us into the ground, vultures feasted on our carcass and tried to asset strip and enemies of Rangers in positions of power willingly let it happen.

This post should be made a sticky at the top to reinforce what really happened. As you say the amount of supporters who dont actually realise what happened in 2012 is frightening.

 

[super10]

How much did they get for winning the champions league

 

[a_weir]

Oh no. Oh dear.

 

[Blue Skies At Night]

£33m was our number and it was brought down to £18m.

Our situation had nothing to do with the debt we were carrying because it was being managed in a manner you'd expect from a business our size.

Not saying you're one of them but its amazing the amount of supporters who actually don't know the reasons why 2012 happened.

Murray was spooked by the potential BTC liability, Whyte stopped paying our taxes and drove us into the ground, vultures feasted on our carcass and tried to asset strip and enemies of Rangers in positions of power willingly let it happen.

It was my understanding Murray was getting pressured from Lloyds to pay back his debts to them & the tax case uncertainty was what pushed him over the edge. He basically wanted that big question mark off his back & I can't remember his name now but the business guy at Lloyds was one of that other lot doing the pushing (a poet supporters club founder IIRC).

Regardless, my point was that the debts were brought down massively in the couple of years previous & easily manageable when he signed everything over for a pittance. If Murray hadn't given everything away, none of the other shit would've happened. I apologise for getting the numbers wrong.

& you can rest assured I'm not one of them.

 

[LizzyDrippin]

Much like Man City they will always be a nothing club no matter how much money is thrown at them

 

[govanrear1987]

When you think of it that we were on the verge of being forced out of existence due to being £50m in debt, then you’ve got teams down south posting these type of losses like it’s nothing.

Even worse when you look at Barca being linked with paying £55m for a player when they are about 1 billion quid in debt.

Money has ruined the game unfortunately

As silly as it sounds losses don’t matter like this with regards revenue. In business high revenue will pay the money regardless of losses as such.

Everything in the world is in debt, famous quote “why spend your own money when can spend someone else’s”

 

[Angrybluebear]

This post should be made a sticky at the top to reinforce what really happened. As you say the amount of supporters who dont actually realise what happened in 2012 is frightening.

The whole story has still to come out, there should be criminal action brought against the former Lord Advocate Francis Mulholland.

His actions have cost the Scottish Public tens possibly hundreds of millions, he undermined the Scottish justice system, over stepped his boundaries for personal interests and should be made to pay.

 

[ChildOfGoth]

£33m was our number and it was brought down to £18m.

Our situation had nothing to do with the debt we were carrying because it was being managed in a manner you'd expect from a business our size.

Not saying you're one of them but its amazing the amount of supporters who actually don't know the reasons why 2012 happened.

Murray was spooked by the potential BTC liability, Whyte stopped paying our taxes and drove us into the ground, vultures feasted on our carcass and tried to asset strip and enemies of Rangers in positions of power willingly let it happen.

^ This is it

 

[ChildOfGoth]

Who do Barcelona owe that 1.5bn euros money to - banks ? I’ve not been following there story but no doubt some magical deal will be cut and they will be back at the same old spending soon .

 

[Blue Skies At Night]

By saying one of them I meant a Rangers supporter unaware of the real reasons we entered administration, not a ta.rrier

I know how it happened but it never would've went the way it did if Murray had sought out someone with the clubs best interests at heart in the first place, hence my collateral damage comment. Outside of the digits being a bit off, I don't think I was wrong in what I said.

 

[Barrymoped]

Who do Barcelona owe that 1.5bn euros money to - banks ? I’ve not been following there story but no doubt some magical deal will be cut and they will be back at the same old spending soon .

Not likely, they owe it to Goldman Sachs, they restructured the debt to allow them to spend a little and also rebuild the nou camp, but they have really high yearly repayment charges which, if they fail to meet, will hand Goldman Sachs control of the club and away from the fans.

 

[HMS.Temple.Garden]

what happens with Putin has a purge and poor Roman is among them!?

 

[ChildOfGoth]

Thanks , so the scenario you paint seems strangely likely Barry

 

[Rangerista]

what happens with Putin has a purge and poor Roman is among them!?

It's no surprise that Roman is the last prominent oligarch standing. He has been assiduous in not upsetting Putin, for example, when Vlad said go be a governor in Siberia for a couple of years, he couldn't get there quick enough.

I also don't think it's too outrageous to speculate that because of the UK's fallout with Russia over the two poisoning incidents they carried out (two British citizens dead) and our general relations with them, Putin ordered Abramovich to cancel the redevelopment of Stamford Bridge.

Well that's my theory.

 

[bluetonic]

£33m was our number and it was brought down to £18m.

Our situation had nothing to do with the debt we were carrying because it was being managed in a manner you'd expect from a business our size.

Not saying you're one of them but its amazing the amount of supporters who actually don't know the reasons why 2012 happened.

Murray was spooked by the potential BTC liability, Whyte stopped paying our taxes and drove us into the ground, vultures feasted on our carcass and tried to asset strip and enemies of Rangers in positions of power willingly let it happen.

Great summary

 

[Truckerman]

As silly as it sounds losses don’t matter like this with regards revenue. In business high revenue will pay the money regardless of losses as such.

Everything in the world is in debt, famous quote “why spend your own money when can spend someone else’s”

Yeah I remember an article years ago from a financial advisor for people who win the lottery, he advises them when buying a house to take out a mortgage.
He said why use your own money to pay it when you can get the bank to pay it through the interest, I have a freind who won over a £1M on the lottery 10 years ago and he took a mortgage out for his house in a posh place in Lanarkshire ,he could get £36k PY interest

 

[High Society]

When you think of it that we were on the verge of being forced out of existence due to being £50m in debt, then you’ve got teams down south posting these type of losses like it’s nothing.

Even worse when you look at Barca being linked with paying £55m for a player when they are about 1 billion quid in debt.

Money has ruined the game unfortunately

Let’s be clear, we weren’t “£50m” in debt. Our debt was less than £20m but we had a Tax Claim for EBTs
We were shafted by the Bank and Murray bottled it selling to Whyte for £1 against every Directors advice.
it is the second biggest disgrace in Scottish Football history, we all know what the 1st is

 

[ShotaShuffle]

Who do Barcelona owe that 1.5bn euros money to - banks ? I’ve not been following there story but no doubt some magical deal will be cut and they will be back at the same old spending soon .

Just to make clear, £1.5bn Euros is 1500 million. One Thousand five hundred million.

That is absolutely ridiculous and the fact that it is debt owed makes it all the more ridiculous. Barcelona wont fold becuse no bank in their right mind is writing that money off. Not even for a fraction of it.