Discover and read the best of Twitter Threads about #THFC

Most recents (24)

Manchester City’s 2018/19 financial results covered an “extraordinary” season when they won the domestic treble of Premier League, FA Cup and Carabao Cup, though were eliminated in the Champions League quarter-finals by Tottenham. Some thoughts in the following thread #MCFC
#MCFC profit before tax was flat at £10m, despite revenue rising £35m (7%) from £500m to a record high of £535m, as the revenue growth was offset by costs increasing by the same amount. Profit on player sales was also unchanged at £39m.
#MCFC revenue growth of £35m was entirely due to broadcasting, which increased £42m (20%) from £211m to £253m with Champions League up £31m (57%) to £86m and domestic TV up £11m to £167m – due to a combination of success on the pitch and new deals.
Read 49 tweets
Bayern Munich 2018/19 accounts cover a mixed season. Domestically, they won the Bundesliga for the 7th season in a row, securing the league and cup double for the 12th time. However, they crashed out of the Champions League in the last 16. Some thoughts follow #FCBayern
#FCBayern profit before tax increased from €46m to €75m (profit after tax €52m). Revenue (per Bayern’s definition) rose €93m (14%) to €750m including €90m profit on player sales. The board described the figures as “outstanding”, as both revenue and profit set record highs.
Excluding player sales, #FCBayern revenue rose €31m (5%) from €629m to €660m, mainly due to TV, up €34m (20%) to €211m, though commercial was also up €8m (2%) to €357m. On the other hand, match day down €11m (11%) to €92m. Profit on player sales €62m higher at €90m.
Read 42 tweets
So in the summer I did a Spurs player review...fair to say things may need another review 😬 #thfc
HUGO LLORIS: underrated captain. Clearly has the respect of his peers and mentality to compete for the big trophies. His athleticism and reflexes make him an incredible shot stopper. But too prone to error and loops his kicks which makes it very hard to be direct & attack quickly
PAULO GAZZANIGA: fantastic distribution with how flat and accurate his passes are. Solid keeper. Doesn’t make the errors that he regularly used to before joining spurs and are more than able deputy. Doesn’t have the aura or authority to be a number one for a team challenging
Read 36 tweets
#RealMadrid 2018/19 accounts cover a disappointing season, the first after selling Ronaldo, when they were 3rd in La Liga, semi-finalists in the Copa del Rey and exited the Champions League in the last 16. They also had 3 coaches: Lopetegui, Solari & Zidane. Some thoughts follow.
#RealMadrid profit before tax increased by €10m from €43m to €53m (profit after tax up €7m to €38m). Revenue was a record €757m, but only rose €6m (less than 1%), while profit on player sales shot up €45m to €99m. Profit restricted by a €46m impairment provision.
The only #RealMadrid revenue stream to increase was international competitions & friendlies, up €13m (13%) to €114m, but the others stagnated: broadcasting was down €5m (3%) to €173m; membership fees & stadium revenue down €1m to €173m; while marketing was flat at €295m.
Read 46 tweets
#FCBarcelona 2018/19 accounts cover a season when they won La Liga (for the fourth time in five years), were runners-up in the Copa del Rey and reached the Champions League semi-finals. Some thoughts in the following thread.
#FCBarcelona profit before tax fell €17m to €4m (profit after tax €5m, due to €1m tax credit). Revenue rose €76m (8%) from €914m to a record high of €990m, even though gain on player sales was down €108m. Offset by significant growth in expenses, which were up €69m.
As a technical note, the #FCBarcelona definition of €990m revenue is higher than the standard Deloitte Money League figure of €852m, as it includes €101m gain on player sales, €29m impairment reversal, €7m utilisation of provisions and €1m work performed and capitalised.
Read 46 tweets
Borussia Dortmund 2018/19 accounts cover their first season with Lucien Favre as manager when they finished second behind Bayern Munich in the Bundesliga and reached the Champions League last 16. Some thoughts in the following thread #BVB
#BVB profit before tax decreased €13m from €35m to €22m (profit after tax €17m), despite revenue rising €60m (19%) from €317m to €377m, as profit on player sales fell €49m from €126m to €77m and total expenses were up €26m, but net interest payable was €3m lower.
All #BVB revenue streams increased, though the largest growth by far was in broadcasting, up €45m (37%) to €167m. In addition, commercial rose €9m (6%) to €157m, match operations €2m (6%) to €45m and other operating income €4m to €8m.
Read 40 tweets
Manchester United are the first Premier League club to publish 2018/19 financial results, covering a disappointing season when they finished sixth in the league and were eliminated in the Champions League quarter-finals by Barcelona. Some thoughts in the following thread #MUFC
#MUFC profit before tax was up slightly from £26m to £27m, as revenue rose £37m (6%) to a record £627m, but the wage bill also increased £36m (12%) to £332m. After tax club went from £38m loss to £19m profit, as prior year was impacted by non-cash write-off due to US tax reform.
#MUFC first English club above £600m revenue. Almost all growth was in broadcasting, up £37m (18%) to £241m, due to Champions League participation (and new rights agreement). Commercial and match day flat at £275m and £111m respectively. Profit on player sales £8m higher at £26m.
Read 45 tweets
In the past couple of weeks I have looked at the cash flow for both the Premier League and the Championship for the 2017/18 season, but how do they compare? Let’s take a look in the following thread, starting with profitability, then moving onto cash.
The Premier League is profitable before tax £472m, while the Championship is loss-making £(289)m. As PL has £149m tax payable, the gap is smaller after tax: £323m profit vs. £294m loss. Both leagues have operating losses, though PL £292m is about half Championship £572m.
PL £4.8 bln revenue is around 7 times as much as Championship’s £729m. The largest difference of £2.4 bln is broadcasting: £2.8 bln vs. £400m, but there’s also a substantial £1.1 bln gap in commercial: £1.3 bln vs. £173m. Match day shortfall is “only” £511m: £663m vs. £152m.
Read 13 tweets
A previous thread explained the differences between a football club’s profit and loss account and its cash flow statement, as it is important to understand where the money has been spent. This thread will look at how this works for each of the 20 Premier League clubs in 2017/18.
#AFC went from £52m operating profit to £42m operating loss, due to lower revenue after failing to qualify for the Champions League, compounded by higher wages and player amortisation plus Wenger pay-off. However, £120m profit on player sales resulted in £70m profit before tax.
#AFC cash flow boosted by favourable £58m movement in working capital (increase in creditors). Spent £29m (net) on players (purchases £110m, sales £81m). Paid £20m for Emirates loan (£11m interest & £9m debt) plus £12m tax. Net cash inflow of £51m was highest in Premier League.
Read 42 tweets
One of the questions most frequently asked by football fans is “Where’s all the money gone?” The answer is only partly found in a club’s profit and loss account, so we need to also look at the cash flow statement to get the full picture. Some thoughts in the following thread.
A club’s profit and loss account is easy to understand, as it is basically revenue less expenses (mainly player wages), but this is an accounting profit based on the accruals concept, which can be very different from actual cash movements.
This is important, as the main reason that football clubs fail is cash flow problems. It does not matter how large your revenue is (or your profits are), if you do not have the cash to pay your players, suppliers or indeed the taxman, then you will find yourself in trouble.
Read 39 tweets
There is much talk about the so-called “Big Six” pulling away from the rest of the Premier League financially, but is this actually true? This thread looks at this question from the perspective of revenue, wages and total player costs #AFC #CFC #LFC #MCFC #MUFC #THFC
For the purpose of this analysis, we will take the 7th highest club in terms of revenue and wages for each season between 2010 and 2018. This means that the 7th placed club is not always the same. For example, for the last 4 seasons’ revenue this was #EFC, #LCFC, #WHUFC & #NUFC.
The highest revenue in the 2018 Premier League was #MUFC £590m, followed by #MCFC £503m, #LFC £455m, #CFC £448m, #AFC £389m, #THFC £379m and #EFC £189m. The highest growth since 2010 came at #MCFC with £378m (or 300%).
Read 20 tweets
A look at Gio Lo Celso after his move to Spurs. Straight to the point and first of all; a much better signing/fit for Mauricio Pochettino and his philosophy than Paulo Dybala or Coutinho would've been. Only 23-years-old and with a HUGE ceiling. #THFC
At PSG Lo Celso was badly misused - ie; don't read much into it. Not only given a lack of minutes but also played out of position (as deep lying midfielder). At Betis he has been nothing short of outstanding, and one of the best attacking midfielders in Europe. #THFC
Lo Celso's played as an AMC for majority of the season in a variety of systems, so it offers scope for Spurs. At Betis he had freedom to between centre-midfield, wide positions and as a second striker. Down the final stretch he also featured as a False 9 (Kane alt?) #THFC
Read 7 tweets
In preparation for the upcoming 2018/19 Premier League season, I thought that it might be interesting to look at the transfer spend over the last decade, including the growing impact on debt. The analysis is split between 3 periods: last 3 years, last 5 years and last 10 years.
The transfer fees spend is taken from the clubs’ cash flow statements, as this is the only completely accurate source of data. However, it is worth noting that this does not always represent the full cost of transfers, due to the (increasing) use of stage payments.
In the very few cases where a cash flow statement was not available, e.g. if a club only published abbreviated accounts while they were in lower leagues, I have taken data for those years from the Transfermarkt website.
Read 24 tweets
So Ryan Sessegnon looks on his way to’s my thoughts on what he offers and where he would be best served #thfc #ffc
And I’d like @NathanAClark thoughts on the thread I’m about to do as I know he’s keen on Sessegnon being a left back for the future
So he made his name as a 16 year old looking at home in an incredibly tough league. That’s because Sessesgnons main attribute is his maturity and intelligence. He has a fantastic football brain. Understands where to be, how to time runs, when to plays passes etc
Read 11 tweets
As the 2018/19 Premier League season approaches, I thought that it might be interesting to look at the impact of the new three-year TV deal on clubs’ revenue, particularly the changes in the distribution system for the overseas TV deals. Some thoughts in the following thread.
As a reminder, in 2018/19 each club received equal shares for 50% of domestic TV £34m, overseas TV £43m and commercial income £5m. Each league position was worth £1.9m (merit payment), while each match broadcast live was worth £1.1m (on top of £12.2m for a minimum of 10 games).
Therefore, each club received a total of £82m from equal payments with the only differences in Premier League TV distribution due to: (a) league position, ranging from #MCFC £38m to #HTAFC £2m; (b) live TV games, from #LFC £33m to £12m for #AFCB, #HTAFC, #SaintsFC and Watford.
Read 26 tweets
As Arsenal fans nervously await the outcome of this summer’s transfer window, I thought it might be interesting to look at why the club is facing more financial challenges these days. Some thoughts in the following thread #afcb
On the face of it, #AFC are doing fine, having reported profits for 16 consecutive years, adding up to a grand total of £393m, averaging £25m a year. Furthermore, Arsenal’s profits in the last two years were a healthy £70m in 2017/18 and £45m in 2016/17.
In fact, #AFC £70m profit before tax in 2017/18 (the most recent published accounts) was actually the fifth highest ever registered in the Premier League, though it is worth noting that this was comfortably surpassed by two rivals that season: #THFC £139m and #LFC £125m.
Read 40 tweets
After Saturday’s final, the estimates for this season’s Champions League revenue for Liverpool and Tottenham Hotspur can be updated. We can also look at the incredible amounts of TV income earned by English clubs in 2018/19. Some analysis in the following thread #LFC #THFC
#LFC earned an additional €4m for winning the competition (for the sixth time), bringing their total to €111m (£98m), while #THFC remain at €102m (£90m). As a reminder, #MUFC and #MCFC received €93m (£83m) and €93m (82m) respectively.
#LFC 2018/19 Champions League revenue of €111m (£98m) is €30m (£26m) higher than €81m (£72m) they earned in 2017/18, having won the trophy against “only” reaching the final. It includes: participation €15.3m, prize money €60.0m, UEFA coefficient €23.3m & TV pool €12.7m.
Read 16 tweets
After last night’s Europa League final, the estimates for this season’s Europa League revenue for Arsenal and Chelsea can be updated #CFC earned an additional €4m for winning the competition, bringing their total to €44m (£39m), while #AFC remain at €36m (£32m).
However, #CFC 2018/19 Europa League revenue of €44m (£39m) is €21m (£19m) lower than the €65m (£58m) they earned in the 2017/18 Champions League. It includes: participation €2.9m, prize money €18.3m, UEFA coefficient €3.4m & TV pool €19.1m.
Despite reaching the final, #AFC 2018/19 revenue of €36m (£32m) is €2m (£1m) lower than the €38m (£33m) they earned for getting to the semi-final in 2017/18. It includes: participation €2.9m, prize money €14.3m, UEFA coefficient €3.4m and TV pool €15.6m.
Read 9 tweets
The Premier League has published its TV revenue for the 2018/19 season, ranging from £97m for #HTAFC to £152m for #LFC, who earned more than league winners #MCFC £151m, due to more matches broadcast live. Some thoughts in the following thread.
Each club receives equal shares for 50% of domestic TV £34.4m, overseas TV £43.2m and commercial income £5.0m. Each league position is worth £1.9m (merit payment), while each match broadcast live is worth £1.1m (on top of £12.2m for a minimum of 10 games).
#LFC Premier League TV money increased by £6.5m from £145.9m to £152.4m in 2018/19, due to a £3.6m higher merit payment (for finishing 2nd, compared to 4th the previous season) and £2.4m more from overseas TV deals. Benefited from most live TV games: 29 vs. #MCFC 26.
Read 14 tweets
Last week I estimated how much English clubs would earn from the 2018/19 Champions League. Today I take a look at this season’s Europa League revenue for Arsenal and Chelsea #AFC #CFC
Although total Europa League revenue has significantly increased (by 40%) in 2018/19, two points are worth noting: (a) this is lower than the 54% Champions League increase; (b) the impact of the new UEFA coefficient (though only 15% of total distribution, compared to 30% in CL).
As a result, both #AFC and #CFC are estimated to earn less than last year. #CFC is obvious, as they were in the Champions League in 2017/18, but #AFC is due to the impact of UEFA coefficient & TV pool. As it stands (prior year in brackets):

#AFC €36m (€38m)
#CFC €40m (€65m)
Read 16 tweets
Following their incredible exploits this week, Liverpool and Tottenham Hotspur have reached the Champions League final, so we can now update our estimate of how much English clubs will earn from the 2018/19 competition #LFC #THFC #MCFC #MUFC
Due to the significant increase (around 50%) in Champions League revenue in 2018/19, all English clubs will earn much more than prior season (2017/18 comparatives in brackets). As it stands:

#LFC €107m (€81m)
#THFC €102m (€61m)
#MCFC €93m (€64m)
#MUFC €93m (€40m)
#LFC Champions League revenue is €107m for reaching the final, up from €81m last season.

Includes: participation €15m, prize money €56m, UEFA coefficient €23m and TV pool €13m.

If they win the final, they will earn an additional €4m, bringing their total to €111m.
Read 11 tweets
Swansea City’s 2017/18 financial results covered a “difficult” season when they finished 18th, so were relegated to the Championship after 7 consecutive years in the Premier League. They had 3 managers: Paul Clement, Carlos Carvahal and Graham Potter. Some thoughts follow #Swans
#Swans made a loss before tax of £3.2m, compared to a prior year profit of £13.4m, representing a £16.6m deterioration, as revenue fell £1m from £128m to £127m, though profit on player sales was up £9m to £46m. After tax, the club went from a £13.0m profit to a £2.9m loss.
#Swans £1m revenue fall was very largely driven by broadcasting’s £4.7m (4%) decrease from £109.4m to £104.7m, due to less prize money for a lower league position. In contrast, commercial rose £3.8m (35%) from £10.7m to £14.5m, while match day was flat at £7.4m.
Read 44 tweets
As the Champions League and Europa League reach the semi-final stage, I took a quick look at the latest available revenue and wages data for those clubs still in the competition. Some analysis in the following thread.
The Champions League has the “fairest” financial pairings, as it matches the clubs with the highest and 2nd highest revenues, then 3rd and 4th.

However, the differences are still huge: Barcelona £612m is £150m more than #LFC £455m; while #THFC £379m is nearly 5 times Ajax £81m.
It’s a similar story and nether Champions League with wages. Barcelona’s £431m (excluding other sports such as basketball and handball) is again over £150m higher than #LFC £264m, while #THFC £148m might be low for a leading Premier League club, but it is triple Ajax £47m.
Read 7 tweets
Now that we have reached the semi-final stage of the 2018/19 Champions League, we can estimate how much English clubs will earn from this competition. This is not completely straightforward, due to changes in the distribution method, but let’s have a go in the following thread.
First of all, the total amount distributed to clubs in the 2018/19 Champions League has increased by 54% (€681m) from €1.269 bln to €1.950 bln. This is now split: participation €488m (25%), performance €585m (30%), TV pool €292m (15%) and coefficient rankings €585m (30%).
In 2018/19 each of the 32 clubs that qualified for the Champions League group stage get €15.25m plus €2.7m for a win & €900k for a draw. Additional prize money for each further stage reached: last 16 €9.5m, quarter-final €10.5m, semi-final €12m, final €15m & winners €19m.
Read 21 tweets

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