ascender 352 Posted July 30, 2007 Share Posted July 30, 2007 I know we'll get the usual spin about it being a manageable/serviceable amount, but is that not a bit worrying given the ongoing downsizing we've been doing? Net debt at the year end stood at £16.5m (2006 - £5.9m). The increase in the net debt position from last year primarily reflects the trading loss in the period, working capital movements, investment in the playing squad, and costs associated with the exit from the Club's retail operations. Full story here. I guess the CL is priority number 1 for us this year then as it seems to be worth 5M or so on in advertising alone. 0 Quote Link to post Share on other sites More sharing options...
Gribz 743 Posted July 31, 2007 Share Posted July 31, 2007 As high as 16.5m!! I thought it was closer to 8 or 9 million. But yeah CL is a must to get that down even more. 0 Quote Link to post Share on other sites More sharing options...
calscot 0 Posted July 31, 2007 Share Posted July 31, 2007 6M loss and greater spending on players increases the debt to 16M. We need to find more revenue. 0 Quote Link to post Share on other sites More sharing options...
buba3d 0 Posted July 31, 2007 Share Posted July 31, 2007 6M loss and greater spending on players increases the debt to 16M. We need to find more revenue. i think we have to get into the forigen market and then do some more pre season friendlies. 0 Quote Link to post Share on other sites More sharing options...
Guest ackbar Posted August 1, 2007 Share Posted August 1, 2007 The issues regarding the retail operation are cause for concern also. Last year we made 5.2M profit from the shops but this year we have only made 3M. (I assume we never sold enough shirts to reach the next tier of the agreement) It also says that "Net operating expenses reduced by GBP11.8m or 22% to GBP43.1m (2006 - GBP54.9m) largely due to the discontinuance of the retail operation" If we are to assume that this money was saved due to staff wages, rent and other overheads and subtract it from the 20.7M profit earned in that year then simply arithmetic states that the potential profit from the retail arm is 9M! Instead Murray feels it is better to have 18M in the bank over ten years than to earn 9M a year profit from our own endeavours. Still he knows best 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted August 1, 2007 Share Posted August 1, 2007 I'm hoping a friend of mine will be doing a complete break down of the accounts for Gersnet over the next few weeks. 0 Quote Link to post Share on other sites More sharing options...
bmck 117 Posted August 1, 2007 Share Posted August 1, 2007 I'm hoping a friend of mine will be doing a complete break down of the accounts for Gersnet over the next few weeks. will this include how much of murray's 'own money' that he has, in the minds of the majority of fans, put in? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,151 Posted August 1, 2007 Share Posted August 1, 2007 He's an accountant - not a miracle worker... The only person that knows how much money Murray has put in (and taken out) is David Murray unfortunately. Hence the smoke and mirrors analogy... 0 Quote Link to post Share on other sites More sharing options...
craig 5,199 Posted August 1, 2007 Share Posted August 1, 2007 He's an accountant - not a miracle worker... The only person that knows how much money Murray has put in (and taken out) is David Murray unfortunately. Hence the smoke and mirrors analogy... I would think the "taken out" portion would be easy to deduce... VERY LITTLE. If I had the time at work, and you provide the link Frankie, I could take a look at the financials too. 0 Quote Link to post Share on other sites More sharing options...
Hurlock 0 Posted August 1, 2007 Share Posted August 1, 2007 Obviously we'll gain a lot of this back if we reach the Champions league group stages BUT.................I spotted some pretty tough teams that we could get if we get past Zeta so a little bit worrying, hopefully we will be seeded in the next round. 0 Quote Link to post Share on other sites More sharing options...
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