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Albion Matchday Forum / Re: Pre Match Chat
« on: February 03, 2023, 08:03:50 PM »Hold up theres no red button for me on NOW TV
It’s playing silly wotsits on sky as well
It’s working now so might show on now soon
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Hold up theres no red button for me on NOW TV
We made an operational profit every year until 2019/20 season.
The losses in 2018/19 were due to losses in player trading (we spent more on incoming players than we received on outgoing players). What I'm not sure about is if this includes transfer fees, or is just the costs involved in carrying out the transfer.
Losses in 2017/18 were due to reduction in media related income & an exceptional level of player amortisation.
There is nothing to suggest that WBAFC historic income to wages ratio is out of control.
Only bit that sounds wrong there is before the revenue, I understood they have first dibs in all cases written into law.
With more details surrounding the loan being uploaded we can see the 20m is secured against the ground etc as we would expect but it's also secured against the club badge, trademarks etc.
Can someone with more intelligence than me explain if this is normal? Surely the ground, middlemore road land etc would cover the 20m?
I say this all the time on threads like this....
But can somebody, really simply, explain all this to me (lol, sorry!).
I am awful with things like this.
All I can see at the moment is;
Lai owns WBA
Lai owns another company, lets say XYZ.
Lai lends XYZ £7m from WBA.
Lai doesnt pay this loan back.
WBA make profit. Lai pays himself £7m.
Lai then writes off the loan with this £7m so in affect WBA are £7m down?
Am i right?
Yes, I've got that now.
It looks as though there is a provision in the football club accounts of around £13 million to pay future creditor commitments. This looks as though it's not been included in Group accounts.
So, in reality, there's about £11 million in retained earnings, have I understood that correctly?
Can you point us to this in the accounts please? (The page will do) My understanding is we haven't made a profit for a very long time.
Let's wait & see.
PWC have been auditors since 2017. (from companies house website)
As things stand from what we know, to make a profit that would generate a £7 million dividend, GL would have to either, put aside £7 million from parachute payments or raise £7 million from the sale of assets (players or the Hawthorns).
For a Chairman who has expressed a serious desire to build a promotion team, neither option makes a lot of sense.
The club cannot come out and blame Covid for our financial troubles when the owner has borrowed in excess of £5m from us and currently owes us nigh on £10m.
That would not have been far from evening out some of the losses that Covid may have caused.
And it is nice to know that when we were financially struggling that the owner of this club did not give a **** about that and proceeded to take money from his one failing business to prop up his other failing businesses.
Its actually nearer 0.5% as the £50K represents almost two year's interest
Can't remember seeing that anywhere. I'm expecting the figures for season 20/21 to be worse than 19/20.
I'm not sure he said a dividend would be paid, I believe it was an illustration on how it could be paid.
If the club did go down that route, they would have to generate a profit from sales of around £7 million (£5 million holdings, £1 million minority shareholders, £1 million corporation tax). which would come out of the club & not be available for players.
I understand the club have now received an offer from Al H of around £17 million, so we're getting there.
WBA Holdings is Lai’s company that owns 88% of WBA Group. The published accounts sent to shareholders are WBA Group - these show no inter-company debt. The 22m shown as ‘company’ in the 2020 accounts is probably owed to WBA Football Club Ltd, 100% owned by WBA Group Ltd - you can tell this because it disappears on consolidation into the higher level Group accounts.
And yes, we have £31565k in the p&l account under ‘capital and reserves’ in the balance sheet.