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Earlier this week I posted a thread on the 2018/19 financials for the Big Six Premier League clubs. Today I am going to look at the numbers for the Other 14 clubs #AFCB #BHAFC #BurnleyFC #CardiffCity #CPFC #EFC #FFC #HTAFC #LCFC #NUFC #SaintsFC #WatfordFC #WHUFC #WWFC
Obviously, there will be a significant impact on these numbers in the 2019/20 season (and probably 2020/21 as well) as a result of the COVID-19 lockdown, which has resulted in clubs earning much less revenue for a few months, but how did it look before the pandemic struck? ImageImage
Other 14 Premier League clubs generated £2.2 bln of revenue, but £2.6 bln of expenses (including £1.5 bln wages and £0.6 bln player amortisation) meant £393m operating loss. This was improved by £241m profit on player sales, offset by £35m interest, giving £188m loss before tax. Image
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Now that all the Premier League clubs have published their 2018/19 financials, we can compare the results, but we will do this a little differently by separating the analysis into two parts, as the numbers are so different for: (1) the Big Six clubs; and (2) the Other 14 clubs.
Today’s thread will focus on the 2018/19 financial results for the Big Six Premier League clubs #AFC #CFC #LFC #MCFC #MUFC #THFC. Clearly, there will be a significant impact on these numbers in 2019/20 following the COVID-19 lockdown, but how did it look before the pandemic?
Big 6 Premier League clubs generated £3.0 bln of revenue, but £3.1 bln of expenses (including £1.7 bln wages and £0.7 bln player amortisation) meant a £97m operating loss. This was improved by £193m profit on player sales, offset by £23m interest, giving £33m profit before tax.
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Newcastle United’s 2018/19 financial results cover a season when they finished 13th in the Premier League, 3 places lower than the previous year. Steve Bruce replaced Rafael Benitez as manager after the season ended. Some thoughts in the following thread #NUFC
#NUFC profit before tax improved by £18m from £23m to £41m, very largely due to profit on player sales surging from £4m to £25m, as revenue dropped £2m (1%) from £178m to £176m. There was minimal expense growth of just £1m. Post-tax profit increased from £19m to £35m.
The largest #NUFC revenue decrease was broadcasting, which fell £2.5m (2%) to £124m, mainly due to the worse finishing place in the league, though commercial was also down £0.5m (2%) to £28m. In contrast, match day rose £0.9m (4%) to £25m.
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Crystal Palace’s 2018/19 financial results covered a season when they finished “in a respectable” 12th place under Roy Hodgson. This secured a seventh successive year in the Premier League, their longest ever spell in England’s top division. Some thoughts follow #CPFC
#CPFC improved from a £36m loss before tax to a £5m profit, very largely due to profit on player sales (mainly Aaron Wan-Bissaka’s move to #MUFC) surging from £2m to £46m, though revenue also rose £5m (3%) to a club record £155m. Partly offset by expenses increasing £8m.
All three #CPFC revenue streams grew, led by broadcasting, which rose £3.2m (3%) to £124.4m. There were also increases in commercial, up £1.0m (6%) to £16.4m, and match day, up £0.9m (7%) to £14.6m. Note: this revenue split is taken from the club’s Annual Review.
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I’ve prepared a few more of the financial fact sheets for selected football clubs. To be clear, this is not new information as such, but just a more succinct presentation of previous data. This thread covers #AVFC, #AFCB, #CardiffCity, #HTAFC, #NCFC, #SUFC, #WatfordFC and #WWFC.
#AVFC posted huge £69m net loss. Operating loss even higher at £115m, including £46m promotion payments, but £14m HS2 compensation. Offset by £36m stadium sale and £11m player sales. Revenue fall due to lower parachute payments. Debt-free after write-offs and equity conversion.
#AFCB lost money 2 years in a row, as revenue has fallen from £136m to £131m, while wage bill has grown from £72m to £111m. Little benefit from low player sales. Debt up to £100m, 9th highest in PL. Spent £150m on player purchases in last 2 years with transfer debt up to £81m.
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Southampton’s 2018/19 financial results covered a “second consecutive difficult season” when they finished 16th in the Premier League. Manager Mark Hughes was replaced by Ralph Hasenhüttl in December 2018. Some thoughts in the following thread #SaintsFC
#SaintsFC went from £35m pre-tax profit to £41m loss, a swing of £76m, mainly due to profit on player sales decreasing by £48m from £69m to £21m (Virgil van Dijk sale prior year). Revenue also down £3m (2%) to £150m, while expenses grew £25m. After tax, £29m profit to £34m loss.
#SaintsFC £3m revenue fall was driven by broadcasting’s £4m (4%) decrease from £117m to £113m, mainly due to fewer Premier League shown live. Match day was also down £2.2m (11%) from £19.2m to £17.0m, but commercial rose £3.4m (21%) from £16.4m to £19.8m.
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Daily #CPFC shirt #2: Away 1993/94. Our first Black kit. Unfortunately due to unexpected relegation from Prem, we were unable to wear it as it clashed with refs who still wore black in FL. Worn just once in a 7-1 win at Crawley Town with red socks. Image
Nescafe was rumoured to be the sponsor, but they pulled out after relegation. The one time Palace got their act together and had all three new kits ready for sale a week after the season ended. Sponsorship deal eventually signed with TDK in September 93.
Daily Palace Kit #3: 1999/2000 away. A glimmer of hope in the dark days of Administration. Shamelessly modelled on the Escape to Victory shirt. Teamed with Blue Shorts and Socks and match by match sponsorship deals. #kitsoutforthelads #andladies Image
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Random Daily Footie Shirt #2: VFB Lübeck retro Home. My love of German Fussball knows no bounds, but there are two clubs very close to my heart. The kings of Schleswig- Holstein are one. #kitsoutforthelads #andladies #vfblübeck #marzipan Image
Random Footie Shirt #3: Vietnam Home 2018 (Marketfake). Memories of a great holiday during Asia Youth Games, so no sadly league games. Made do with a top. Vietnam made it through to Semis amidst wild scenes. #kitsoutforthelads #andladies Image
Random Footie Shirt #4: Shamrock Rovers Away 2009/10. A shirt with a poignant memory. It was my much-missed mate Chocky's, who sadly passed away in 2017. He had a massive footie shirt collection which was distributed amongst his pals at the wake. #kitsoutforthelads #andladies Image
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A short thread on Coronavirus and #LFC's prospects of winning the title in front of their fans. Hate to say it, but it seems inevitable the govt will insist games be played behind closed doors soon - possibly by end of month or first week in Apr. (1/4)
So suddenly the 2nd half of the Manchester derby becomes huge for Liverpool, who currently require 3 wins to become Champions. They play #EFC Mar 16, #CPFC Mar 21…and City Apr 5. By then, a ban on public gatherings could be in place. (2/4)
If Liverpool don’t win at City, then it would be Villa at Anfield on Apr 12. Realistically, there seems a very strong prospect that will be a football match played without fans attending, with a ban in place. A painful experience after a 30 year wait for the title. (3/4)
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Wolverhampton Wanderers 2018/19 financial results covered a “successful” season, when they finished 7th in their first season back in the Premier League since 2012, reached the FA Cup semi-final and qualified for the Europa League. Some thoughts in the following thread #WWFC
Since being bought by Chinese investment group Fosun International in July 2016, #WWFC is a club transformed, helped by a close relationship with super-agent Jorge Mendes. Under charismatic manager Nuno Espirito Santo, Wolves can realistically compete for European qualification.
#WWFC swung from £57m loss before tax in the Championship to £20m profit in the Premier League, a £77m improvement, as revenue surged from £26m to a club record £172m and profit on player sales was up £4m to £12m, though costs also increased significantly in the top flight.
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Watford’s 2018/19 financial results covered a season that the club understandably described as “successful”, improving their position in the Premier League from 14th to 11th and reaching the FA Cup Final (beaten by #MCFC). Some thoughts in the following thread #WatfordFC
#WatfordFC made a £9.8m profit before tax, compared to a £31m loss in the prior year, as revenue rose £19m (15%) to a record £148m, and profit on player sales increased from £3m to £22m. Also boosted by a £4.5m settlement following Marco Silva’s acrimonious move to #EFC.
#WatfordFC £19m revenue growth was mainly due to a £15m (14%) increase in broadcasting to £124m, thanks to the higher Premier League finishing position and FA Cup run, while there were also rises in commercial, up £3m (28%) to £13.6m, and match day, up £1.3m (16%) to £9.2m.
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Brighton and Hove Albion’s 2018/19 accounts cover their second season in the Premier League, when they finished 17th, just avoiding relegation, though they did reach the FA Cup semi-finals. Graham Potter replaced Chris Hughton as coach after season ended #BHAFC
#BHAFC swung from a £12m profit before tax to a £22m loss (£21m after tax), a £34m deterioration, as the cost base increased significantly following further squad strengthening. Revenue rose £4m (3%) from £139m to £143m, while profit on player sales was up £2m to £5m.
#BHAFC £4m revenue growth was very largely driven by broadcasting’s £3.2m 3%) increase to £113.5m, mainly due to the FA Cup run, though commercial also rose £0.7m (7%) to £11.4m. Match day was unchanged at £18.5m.
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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.
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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.
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We get every Premier League player to sit down on camera and say how they want their name pronounced - and there’s LOADS I did wrong. So here’s a thread so you don’t make the same mistakes I did!
First of all - Norwich City’s Teemu Pukki. His first name is actually pronounced ‘TAY-mu’ #ncfc
How about Chelsea’s #USMNT star Christian Pulisic? His surname is ‘puh-LISS-ick’, no Eastern European style ‘itch’ on the end #CFC
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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.
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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.
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Newcastle United’s 2017/18 financial results reflect their promotion after a single season in the Championship. Managing director Lee Charnley said, “A 10th placed finish in our first season back in the Premier League was a fantastic achievement.” Some thoughts follow #nufc
#NUFC promotion brought the club back to “a healthy financial position”, moving from £47m loss before tax to £23m profit, as revenue more than doubled from £86m to a record £178m and no repeat of prior year £32m exceptional costs: £10m promotion bonus & £22m onerous contracts.
#NUFC £93m revenue growth very largely driven by broadcasting’s £79m increase to £126m, reflecting vastly higher TV money in the Premier League, while commercial also increased £13m (90%) to £28m, but match day flat at £24m. However, profit on player sales dropped £39m to £4m.
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Crystal Palace’s 2017/18 financial results covered their 5th consecutive season in the Premier League, when they finished “in a very creditable” 11th place. Roy Hodgson replaced Frank De Boer as manager in September 2017. Some thoughts in the following thread #CPFC
#CPFC posted a £35.5m loss before tax, compared to an £11.8m profit the prior year, mainly due to profit on player sales falling £32m to just £2m, though revenue grew £7.6m (5%) from £142.7m to a club record £150.3m. Loss after tax was £33.4m, thanks to a £2.1m tax credit.
#CPFC £8m revenue growth was very largely driven by broadcasting’s £4m (4%) increase from £117m to £121m, mainly due to increased prize money for finishing 11th, while commercial also increased £3.1m (21%) from £15.2m to £18.3m and match day was up £0.3m (2%) to £10.9m.
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Southampton’s 2017/18 financial results covered a season when they finished 17th in the Premier League and reached the FA Cup semi-finals, much worse than previous season (8th place in PL, competed in the Europa League and got to the EFL Cup final). Some thoughts follow #SaintsFC
Although #SaintsFC directors described the season as “disappointing”, they were “pleased to report another year of positive financial performance.” This was the first season under the ownership of Lander Sports (UK), controlled by Chinese businessman Jisheng Gao.
#SaintsFC pre-tax profit fell from £42m to £35m, as revenue dropped 16% (£30m) to £153m, due to the poor performance on the pitch, though this was largely offset by profit on player sales increasing by £27m to £69m. Profit after tax was down from £34m to £29m.
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THREAD: 🏴 #PremierLeague strength of schedule breakdown 📊

We rank each side on how many points they can expect to pick up from the next six games using our xG model 👇
1. #ManCity – 14.3 xPoints
City will face sides with an average position of just above midtable over the next six games, looking at average of 2.38 xPoints per game.

#MCFC @City_Watch @City_Chief @SuperbiaProeIia @PicturedCity @City_Xtra @9320pod 👇
2. #LFC – 13.2 xPoints
Liverpool look set to continue their good start to the season. Despite facing #MUFC, we make the Reds’ trip to #WatfordFC their hardest fixture.

@AnfieldEdition @AnfieldHQ @TheRedmenTV @LFCData @anfieldonline @BassTunedToRed 👇
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Although the 2016/17 financial results for the Premier League are now a season out-of-date, they are still the most recent published by the clubs, so I thought some comparisons might be interesting as we head into the 2017/18 season. Thread follows.
Thanks to a combination of the PL TV deal and FFP wage controls, almost all clubs are now profitable with only #SAFC reporting a loss. #LCFC led the way with £92m profit before tax, the highest ever made in the Premier League, followed by #THFC £58m, #MUFC £57m and #AFC £45m.
Profit on player sales is an increasingly important element in driving the improved profitability of some Premier League clubs. In 2016/17 highest profits were made by Chelsea £69m (Oscar to Shanghai SIPG), Everton £52m (Stones to #MCFC) and Southampton £42m (Mané to #LFC).
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