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Accounts to the Year Ended May 2018


div

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24 minutes ago, Lord Pityme said:

That doesnt stack up for a business case. The club like any business set a budget based on known income. To then receive substantial unbudgeted income, and spend all that on top of what you intended to spend is very unwise. What do you then do if subsequent income drops, but you are committed to employment contracts and lease deals etc?

as shareholders the smisa board should (on our behalf) have the club board up on their hind legs at the agm explaining why they have spent so much, and committed to spend even more this January, and how they intend to square that circle? We own 30% of this business, we are equally responsible to ensure it is run correctly.

will the smisa convener do this stbthe agm, or just wave the accounts through same as last time? 

Income is up, profits are up, the outgoings have went up accordingly.  The accounts for next year will include substantial increases in revenue streams from SP football and a tidy wee sum from the McGinn transfer. 

What are we calling the board out on here exactly? 

Edited by bazil85
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1 hour ago, Lord Pityme said:

These accounts are Pre Stubbs reign. So even more of a concern, no?

Possibly, but had moves been made in terms of additional resource in anticipation of promotion, etc? Hence the increase in staff costs? Suppose we can only speculate...can only really comment if I could check then numbers in greater detail.

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1 hour ago, bazil85 said:

Income is up, profits are up, the outgoings have went up accordingly.  The accounts for next year will include substantial increases in revenue streams from SP football and a tidy wee sum from the McGinn transfer. 

What are we calling the board out on here exactly? 

And in next years accounts... signing on fee for Stubbs, plus higher wages than Ross.

Compensation paid for Rice,

Heaton's fee,

more wages for Gus, Nicholl and community manager.

compensation for Stubbs, Jackson.

increase in all players wages in line with contract clauses following promotion

significant increase in playing staff numbers

increase in costs across the board commensurate with playing in premiership 

compensation for Oran

additional funds made available to Oran

poor cup game receipts 

cost of plastic pitch

possible costs if one or more corners developed

subsequent drop in income due to poor form

potential relegation

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1 minute ago, Lord Pityme said:

And in next years accounts... signing on fee for Stubbs, plus higher wages than Ross.

Compensation paid for Rice,

Heaton's fee,

more wages for Gus, Nicholl and community manager.

compensation for Stubbs, Jackson.

increase in all players wages in line with contract clauses following promotion

significant increase in playing staff numbers

increase in costs across the board commensurate with playing in premiership 

compensation for Oran

additional funds made available to Oran

poor cup game receipts 

cost of plastic pitch

possible costs if one or more corners developed

subsequent drop in income due to poor form

potential relegation

Aye, it's all looking good. :lol:

PS You forgot the sports scientist. :lol

Edited by faraway saint
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3 minutes ago, Lord Pityme said:

And in next years accounts... signing on fee for Stubbs, plus higher wages than Ross.

Compensation paid for Rice,

Heaton's fee,

more wages for Gus, Nicholl and community manager.

compensation for Stubbs, Jackson.

increase in all players wages in line with contract clauses following promotion

significant increase in playing staff numbers

increase in costs across the board commensurate with playing in premiership 

compensation for Oran

additional funds made available to Oran

poor cup game receipts 

cost of plastic pitch

possible costs if one or more corners developed

subsequent drop in income due to poor form

potential relegation

Also in next years accounts will be

 

Compensation received for JR and JF (£100k?)

McGinn money (say conservative £900k?)

Increased Prize fund (Last year was £1.02m for 12th v £533k for winning championship

That's an extra £1.5m in income, not sure how season ticket income would stack up but would imagine its worst case the same?

I would also expect gate receipts to be slightly up due to increased ticket price and teams like Killie, Hearts, OF bringing good numbers even if the home end dips slightly

We also still have a couple of assets in Magennis and Erahon

Im not saying the accounts are all rosy but I don't think we will have the begging bowl out either!

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11 minutes ago, Lord Pityme said:

And in next years accounts... signing on fee for Stubbs, plus higher wages than Ross.

Compensation paid for Rice,

Heaton's fee,

more wages for Gus, Nicholl and community manager.

compensation for Stubbs, Jackson.

increase in all players wages in line with contract clauses following promotion

significant increase in playing staff numbers

increase in costs across the board commensurate with playing in premiership 

compensation for Oran

additional funds made available to Oran

poor cup game receipts 

cost of plastic pitch

possible costs if one or more corners developed

subsequent drop in income due to poor form

potential relegation

How does naming all outcomes for playing in a higher league help your point here? 

As long as the club continually run as a business then we’ll be fine. Made a profit last two seasons. If we don’t next year then make your point. As usual, assuming the negative. 

You realise we’re in a risk business as well don’t you? Clubs ultimately need to take a certain level of risk to profit as a football club. Two seasons in a row that risk has financially paid off. Yet you still moan. 

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32 minutes ago, Lord Pityme said:

And in next years accounts... signing on fee for Stubbs, plus higher wages than Ross.

Compensation paid for Rice,

Heaton's fee,

more wages for Gus, Nicholl and community manager.

compensation for Stubbs, Jackson.

increase in all players wages in line with contract clauses following promotion

significant increase in playing staff numbers

increase in costs across the board commensurate with playing in premiership 

compensation for Oran

additional funds made available to Oran

poor cup game receipts 

cost of plastic pitch

possible costs if one or more corners developed

subsequent drop in income due to poor form

potential relegation

You have listed what basically is a single cost as 4 separate items. Also the corners will not be filled in if finances won't allow it (it's a bonkers suggestion imo anyway). You can't run a football club without incurring most of what you have listed. These are the base costs of running such a business - pretty much the core of the business and as such will be unavoidable to all clubs at some stages in proceedings.  We spend what we bring in. Always has been the business model and seems will continue to be under the latest regime. Given the overall state of finance in Scottish football it's a prudent policy and up to know it's being executed pretty well.  We cut our cloth accordingly and that includes any bonus income from transfers. There is nothing new in anything revealed in the latest set of accounts and certainly very little to get in a pickle about like some are.

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I think there's definitely some cause for a few questions to be asked at the AGM.

I'm not wetting my knickers at the accounts but I think it would be silly to shrug shoulders and say it doesn't matter.

We spent a LOT of money last season, and yes it paid off. We already look like we've spent a bloody fortune this season and we're going to need to do more of the same in January to give ourselves a chance of staying in the top flight.

The McAllister, Mallan and Morgan money has bankrolled us to this point, and the McGinn money will cover the damage of Stubbsgate this time around but we do need to be careful IMO, as there will be a season when we don't bring in any transfer income. If our costs outweigh our income at that point, and we've left nothing in the bank for a rainy day then what happens?

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10 minutes ago, Ayrshire Saints said:

You have listed what basically is a single cost as 4 separate items. Also the corners will not be filled in if finances won't allow it (it's a bonkers suggestion imo anyway). You can't run a football club without incurring most of what you have listed. These are the base costs of running such a business - pretty much the core of the business and as such will be unavoidable to all clubs at some stages in proceedings.  We spend what we bring in. Always has been the business model and seems will continue to be under the latest regime. Given the overall state of finance in Scottish football it's a prudent policy and up to know it's being executed pretty well.  We cut our cloth accordingly and that includes any bonus income from transfers. There is nothing new in anything revealed in the latest set of accounts and certainly very little to get in a pickle about like some are.

Saying "we spend what we bring in" is just giving permission to blow it all, then have nothing to show for it!

how about detailed plans showing investment for return? This board have completely failed to add even ONE more reasonable additional revenue stream since coming in. All the additional funds they have received have been blown. We need our club to be run to increase its revenue streams, otherwise when smisa take over it will be bust.

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45 minutes ago, foxbar_bud said:

Also in next years accounts will be

 

Compensation received for JR and JF (£100k?)

McGinn money (say conservative £900k?)

Increased Prize fund (Last year was £1.02m for 12th v £533k for winning championship

That's an extra £1.5m in income, not sure how season ticket income would stack up but would imagine its worst case the same?

I would also expect gate receipts to be slightly up due to increased ticket price and teams like Killie, Hearts, OF bringing good numbers even if the home end dips slightly

We also still have a couple of assets in Magennis and Erahon

Im not saying the accounts are all rosy but I don't think we will have the begging bowl out either!

Swings and roundabouts, the compo for Ross was half that and a friendly. And yes the prize money goes up, and thats budgeted to cover increase wages & costs in the premiership. The point is despite benefiting greatly from previous investments in young players, this board have to date only shown they can spend, rather than generate funds.

moving forward we need to generate different revenue streams. If we were relegated this season that would be a devastating hit. We ned to build the club up.

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8 minutes ago, Lord Pityme said:

Swings and roundabouts, the compo for Ross was half that and a friendly. And yes the prize money goes up, and thats budgeted to cover increase wages & costs in the premiership. The point is despite benefiting greatly from previous investments in young players, this board have to date only shown they can spend, rather than generate funds.

moving forward we need to generate different revenue streams. If we were relegated this season that would be a devastating hit. We ned to build the club up.

The compensation received for Jack and James was actually significantly more than £100K.

 

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13 minutes ago, div said:

The compensation received for Jack and James was actually significantly more than £100K.

 

I suppose depends what the friendly brought in? Point is we agree that there is now a collective responsibility not to just let the club accounts go through on the nod. The people who took on the responsibility need to demonstrate their competence, and performance.

just like the rest of us.

Edited by Lord Pityme
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2 hours ago, Lord Pityme said:

Saying "we spend what we bring in" is just giving permission to blow it all, then have nothing to show for it!

how about detailed plans showing investment for return? This board have completely failed to add even ONE more reasonable additional revenue stream since coming in. All the additional funds they have received have been blown. We need our club to be run to increase its revenue streams, otherwise when smisa take over it will be bust.

But that is the business plan - break even without the need for bank borrowing. The board are doing exactly what they set out to do and it's been the policy for years - it's nothing new.

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6 minutes ago, Ayrshire Saints said:

But that is the business plan - break even without the need for bank borrowing. The board are doing exactly what they set out to do and it's been the policy for years - it's nothing new.

And what about Bank of Smisa propping them up to the tune of £150k so far? and counting.

maybe you arent bothered they just spend all unbudgeted income, and we are left with nothing left to show for it, but others believe that going diwn that route will lead to the club failing sooner, rather than later.

FYI, smfc in specific and football clubs in general in Scotland cant borrow a cent from banks. Banks will not even consider a loan as they dont want the fan fury when the administrators step in to recover their debt.

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Yippee for Sky money. 

Players like Jack Baird, Cammy Smith and Danny Mullen, instead of them getting 2 grand a week we can up their wages to above 5 grand a week. 

No mention of admission prices getting reduced. 

Instead of between 22 to 27 pounds it will no doubt be between 25 and 30 pounds. 

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7 hours ago, Suggestion said:

£35,000 directors remuneration seems very high considering any car lease benefits etc would be under business expenses. 

Seriously?

That is a ridiculously small salary for an entire board of directors to take for running a multi million pound business.

I cant believe this is even being raised.

 

Edited by oaksoft
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22 minutes ago, oaksoft said:

Seriously?

That is a ridiculously small salary for an entire board of directors to take for running a multi million pound business.

I cant believe this is even being raised.

 

Yip, one of the more bizarre posts on a thread surprisingly full of knicker-wetting.

Note to club: don't release accounts during an international break.

My two cents: 

GLS seems like a pretty astute bloke.  I’ve no doubt that somewhere in St Mirren towers there will be a series of projections running at least three years forward.

These will include various ‘what if’ scenarios. Perhaps not Tony’s Champions League one, but I’ve absolutely no doubt Championship Football for 2019/20 will be full covered.

Every single bit of speculative income will have been removed from that scenario, and I’m sure it’ll still show us ‘making a small profit’ in the accounts released two years from now.

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12 minutes ago, Bobby_F said:

Yip, one of the more bizarre posts on a thread surprisingly full of knicker-wetting.

Note to club: don't release accounts during an international break.

My two cents: 

GLS seems like a pretty astute bloke.  I’ve no doubt that somewhere in St Mirren towers there will be a series of projections running at least three years forward.

These will include various ‘what if’ scenarios. Perhaps not Tony’s Champions League one, but I’ve absolutely no doubt Championship Football for 2019/20 will be full covered.

Every single bit of speculative income will have been removed from that scenario, and I’m sure it’ll still show us ‘making a small profit’ in the accounts released two years from now.

Agree with this, as much as I appreciate people being a bit wary at the increases in outgoings, it has to go hand in hand with big increases in income and a healthy profit. 

Clubs like SMFC won't have the luxury of saving big money every year and to turnover two decent profits is really good (especially considering some of our peers) 

All well and good saying the expense is high but we got the reward in securing promotion. 

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