Quote ="newton warrior"This has been posted on Red Vee:
Saints have released their accounts for the last season at Knowsley Road (financial year to October, 2010). The key points are:
- Losses are up by £500,000 to £1.38m, and total more than £3m in the last four years
- Turnover basically flat (£4.83m v £4.88m in 2009), which is £1m below its 2006 peak
- Sale price of Knowsley Road to Taylor Wimpey was renegotiated down by £1.625m
- Wage bill was 79% of turnover
- Eamonn McManus criticises the club’s management for its commercial failings, writing “it was particularly disappointing that full advantage was not taken of the commercial opportunities availed to the club from its last year at its historic Knowsley Road home.”
- The board plans another debt-for-equity conversion
It all makes for very sobering reading.
Here's the last dozen years, other people can judge whether this year's loss is worse than previous, and whether the trend in recent years is one we should be concerned about:
1999 -£569,205
2000 -£1,557,767
2001 -£940,745
2002 -£871,672
2003 -£376,699
2004 +£137,627
2005 -£31,161
2006 -£259,238
2007 -£400,348
2008 -£449,288
2009 -£861,810
2010 -£1,384,706
An interesting discussion is now taking place, a worry for the game ?'"
how can that be? i thought the salary cap was %50 of ur income or 1.6 mill depending which was the smallest,
unless turnover means somthing completly different i have no idea about finance
