Discover and read the best of Twitter Threads about #itfc

Most recents (24)

I generally don't do football opinions or threads as everyone else usually gets involved but today I will.
I'm very lucky to cover EFL games through the season for Sky Sports, it's something I've done for a long time and am grateful to be included.I've covered #itfc ever since the Burley era & have seen the highs & lows through the years.Interviewed the managers & many of the players.
But recent #itfc form has seen them drop to 12th in League 1.The takeaway narrative from yesterday was generally one of an improved #itfc performance.Fair enough, but to me it just looked like another League 1 mid-table team.
Read 17 tweets
Nothing should come as a surprise in football, but it was still a shock when Wigan Athletic entered administration this month immediately after the new owners, Next Leader Fund (NLF), took control. This thread looks at how this happened, including #WAFC latest financials.
First up, in November 2018, after 23 years as owners, the Whelan family sold #WAFC to Hong Kong based International Entertainment Corporation (ICE), a company that runs hotel and casino business in the Philippines, for £22m (price £15.9m plus taking on £6.5m loans).
More recently in June 2020, ICE sold #WAFC to NLF for £17.5m, giving ICE a nice £1.6m profit, plus the repayment of the £24.6m they had invested. However, the club was immediately put into administration, as a result of the new owners not putting any more funds into the club.
Read 50 tweets
Blackburn Rovers’ financial results for 2018/19 covered “a season of consolidation for Tony Mowbray’s men”, as the club finished 15th in the Championship, having secured automatic promotion from League One the previous year. Some thoughts in the following thread #Rovers
#Rovers loss widened by £1.4m from £16.8m to £18.2m, despite revenue increasing by £7.7m (86%) from £9.0m to £16.7m following promotion, as operating expenses grew £8.6m and profit on player sales fell £0.5m to £0.6m.
Main reason for #Rovers £7.7m revenue growth was the higher TV deal in the Championship, which meant broadcasting almost quadrupled, rising £5.5m from £1.9m to £7.4m. There was also good growth in commercial, up £1.2m (28%) to £5.5m, and match day, up £1.0m (35%) to £3.7m.
Read 41 tweets
#BrentfordFC 2018/19 financial results covered a season when they came 11th in the Championship, their 5th consecutive top half finish, a great achievement for a club with such low income, especially as head coach Dean Smith left for #AVFC in October, replaced by Thomas Frank.
#BrentfordFC swung from £4m loss before tax to £24m, very largely due to £14m sale of land to stadium developers & profit on player sales rising by £13m to £27m. Revenue grew £2.6m (21%) to £15.2m, while expenses were £3.5m higher. Profit after tax was £20m due to £4m tax charge.
All three #BrentfordFC revenue streams grew with broadcasting contributing the largest increase, up £1.6m (23%) to £8.8m, followed by commercial, up £0.7m (30%) to £3.0m, and ticketing income, up £0.3m (10%) to £3.4m. Other operating income (player loans) up £2.3m to £2.7m.
Read 47 tweets
#ReadingFC 2018/19 financial results covered a season when the #Royals finished 20th in the Championship for the second consecutive year. Manager Paul Clement was replaced in December 2018 by José Gomes, who was in turn succeeded by Mark Bowen October 2019. Some thoughts follow.
This was the second season that #ReadingFC were under the control of Chinese businessman Dai Yongge (and his sister Dai Xiu Li), who own 95% via Renhe Sports Management Co Ltd. Bowen said, “He has spent a hell of a lot of money on the club and still wants to spend money.”
#ReadingFC loss increased by £9m from £21m to £30m, despite revenue rising £3m (18%) from £18m to £21m, and increases in profit on player sales (up £1m to £2m) and property disposals (up £2m to £8m). In contrast, other operating income fell £8m to £2m and expenses were up £7m.
Read 44 tweets
West Bromwich Albion’s 2018/19 financial results covered a season when they finished 4th in the Championship following relegation, losing in the play-offs semi-final. Manager Darren Moore replaced by James Shan in March, followed by Slaven Bilic in June. Some thoughts follow #WBA
#WBA managed to hold pre-tax losses at £7m, despite a “significant” £54m (43%) reduction in revenue from £125m to £71m, as they cut expenses by £50m and increased profit on player sales by £4m to £10m. After tax, the loss remained at £6m, thanks to a £1m tax credit.
The main reason for #WBA £54m revenue reduction was broadcasting, which nearly halved in the Championship, falling from £102m to £53m, though commercial also decreased £5m (30%) to £11m, while gate receipts were only down £0.1m (2%) to £7.3m.
Read 45 tweets
Sheffield United’s 2018/19 financial results covered a season when they finished second in the Championship, securing automatic promotion to mark a remarkable rise from League One to the Premier League in 3 years under Manager of the Year Chris Wilder. Some thoughts follow #SUFC
These accounts cover the final year of #SUFC co-ownership between Kevin McCabe and Prince Abdullah. Since then the High Court has ruled that McCabe must sell his 50% share to the Prince for £5m. As a result, the club will purchase the stadium and training facility for £43.5m.
#SUFC loss increased from £2m to £21m, reflecting the “exceptional cost of promotion to the Premier League”. Revenue rose 4% (£0.8m) to £21m, while profit on player sales was up £6m (69%) to £14m, but this was more than offset by £26m of cost growth.
Read 42 tweets
🥳 Belated birthday wishes to Town fan Maurice Ramsay, who celebrated his 100th birthday on Saturday.

Born in Northumberland on 18 April 1920, Maurice has penned a letter to the Club about how he became a Blue and some of his favourite #itfc memories.

Thread to follow 👇
2️⃣ #itfc

"How I became a lifelong Ipswich Town Supporter." Maurice writes.

"I was born on a farm in Wark On Tyne, Northumberland on 18 April 1920. In 1927 the family moved to live in Norfolk to continue in the Farming business. I went to school in Swaffham."
3️⃣ #itfc

"With the help of the headmaster I joined Lloyds Bank in 1937. I relocated to Wellingborough. Then came WWII. After the war I returned to the bank. I was keen on rugby and played in my younger years. The bank sent me to Northampton and I followed Northampton Saints."
Read 24 tweets
Leeds United’s 2018/19 accounts cover “one of the most exciting years in over a decade” under renowned coach Marcelo Bielsa, though it ultimately ended in disappointment, as they finished 3rd in the Championship before losing to #DCFC in the play-offs. Some thoughts follow #LUFC
#LUFC loss widened from £4m to £21m, despite revenue rising £8m (20%) from £41m to £49m, as profit on player sales dropped £2m to £16m and expenses increased by a chunky £23m, as owner Andrea Radrizzani made significant investments to turn Leeds into promotion contenders.
The main reason for #LUFC £8.2m revenue growth was a £5.4m (25%) increase in commercial income from £21.8m to £27.2m (mainly merchandising and hospitality), though gate receipts also rose £1.4m (12%) to £12.6m, while broadcasting was up £1.5m (19%) to £9.1m.
Read 45 tweets
Nottingham Forest’s 2018/19 financial results covered the second season under the ownership of Evangelos Marinakis (80%) and Sokratis Kominakis (20%), when they finished 9th in the Championship, their highest position since 2012/13. Some thoughts follow #NFFC
#NFFC loss widened from £6m to £25m, despite revenue increasing by £2.7m (12%) to £25.3m and profit on player sales rising £0.5m to £10.6m, as expenses shot up £18m and there was no repeat of prior year’s £5m loan write-off.
All #NFFC revenue streams were higher with the largest growth in commercial, up £1.8m (34%) to £7.0m, followed by player loans, up £0.5m (51%) to £1.6m. There were also small increases in broadcasting, up £0.2m to £9.2m, and match day, up £0.1m to £7.6m.
Read 40 tweets
Ipswich publish press release re accounts. Income up slightly despite relegation on back of 5% rise in commercial income following Rod Stewart concert at Portman Road & shirt sponsorship but still bottom 6 by Championship standards. #ITFC @Benjaminbloom
Over last 6 years Ipswich total income £98m but wage bill £102m. Ave wage up last season by 'only' £200pw but again low by #EFL #Championship standards where average wage is £15,600 a week. #ITFC
Because wages>revenue Ipswich lost £200,000 a week @AndyhHolt in 2018/19, taking total losses in last 8 years to £68 million. Suspect total Championship losses could be close to £600 million last season as some clubs go for broke to get promoted. #ITFC
Read 4 tweets
#Millwall’s 2018/19 financial results covered a season when they just avoided relegation from the Championship by finishing 21st, but did reach the FA Cup quarter-finals. Manager Neil Harris left in October 2019, replaced by Gary Rowett. Some thoughts in the following thread.
#Millwall achieved “the best result for many years” by reducing their loss from £5.0m to just £0.7m, as revenue increased by £2.8m (18%) to £18.4m and profit on player sales and loans rose by £6.9m, partially offset by £5.6m growth in expenses.
#Millwall revenue increase was largely driven by broadcasting income, up £2.4m (32%) to £10.0m, partly reflecting televised cup games, though commercial also rose £0.4m (16%) to £2.7m. Match day was “static” at £5.6m.
Read 37 tweets
Hull City’s 2018/19 financial results covered a season when they finished 13th in the Championship. Manager Ian Adkins resigned in June, replaced by Grant McCann. The owners, Assem and Ehab Allam, have been looking to sell the club for some time. Some thoughts follow #hcafc
#hcafc profit before tax decreased from £24m to £3m, mainly due to profit on player sales falling by £26m from £31m to £5m. Revenue was down £7m (13%) to £48m, because of lower parachute payments. Partly compensated by expenses being cut by £12m.
The main driver of #hcafc £7m revenue reduction was a £6m cut in parachute payments from the Premier League from £43m to £37m, but the other revenue streams also declined: match day was down £1.1m (15%) to £6.1m, while commercial was £0.6m (20%) lower at £2.3m.
Read 40 tweets
Sheffield Wednesday have finally published their accounts for the 2017/18 season, when they finished 15th in the Championship. Manager Carlos Carvalhal left the club by mutual consent in December, to be replaced by Jos Luhukay. Some thoughts in the following thread #SWFC
As a technical point, it’s worth noting that #SWFC have changed their accounting close date from May 31st to July 31st, so the 2017/18 accounts covered a 14 month period, meaning a small £1.2m increase in turnover, but an additional 2 months of expenses.
#SWFC swung from a £20.8m loss to a £2.6m profit, entirely due to £38m once-off profit from selling the Hillsborough stadium. Revenue was only up £1.8m (8%) to £25.2m, while expenses surged £18m (41%) to £63m. Profit on player sales rose £1.7m to £2.3m.
Read 48 tweets
[THREAD] Ipswich recently announced the signing of James Norwood, League 2's top scorer last season. With Ipswich being a relatively local side to me, and having watched a lot of League 2 this past season, I thought I'd have a look at what Norwood might bring to #ITFC.
Images from these clips:


Using @StatsBomb and a few sources for data, this is a per90 comparing Norwood with the league's 9 other top scorers - Tyler Walker, Nicky Maynard, Kieran Agard, Chuks Aneke, Jayden Stockley*, Padraig Amond, John Akinde, Jay O'Shea and Hallam Hope.

* Stockley moved in January.
Read 19 tweets
Sunderland’s 2017/18 financial results covered a second successive relegation. Having finished bottom of the Premier League in 2016/17, they repeated this feat in the Championship to drop into League One. Some thoughts in the following thread #SAFC
This was the last season under former owner Ellis Short before Stewart Donald bought the club in May 2018. Since then, the financial picture at #SAFC has greatly changed, but it is still instructive to look at these financials to understand the reasons for their fall from grace.
Following relegation #SAFC loss almost doubled from £10.2m to £19.9m, as revenue basically halved from £123.5m to £63.7m and profit on player sales fell £26.5m to £6.6m. Offset by once-offs: £8.2m profit on sale of Charlie Hurley Centre; no repeat of 16/17 £9.7m Alvarez payment.
Read 45 tweets
Leeds United’s 2017/18 accounts covered the first season under owner Andrea Radrizzani, when they finished a “disappointing” 13th in the Championship, sacking two head coaches (Thomas Christiansen & Paul Heckingbottom), before appointing Marcelo Bielsa. Some thoughts follow #LUFC
#LUFC posted a £4.3m loss, compared to a £1.0m profit the previous season, despite revenue growing £6.6m (19%) from £34.1m to £40.7m and profit on player sales doubling from £9m to £18m, due to “investment in both player registrations and salaries and scouting expenses”.
The main reason for #LUFC £6.6m revenue growth was a £5.5m (33%) increase in commercial income to £21.8m (catering, merchandising and the Selby-Warrington boxing fight), though gate receipts also rose £1.1m (11%) to £11.3m. Broadcasting was flat at £7.7m.
Read 41 tweets
Aston Villa’s 2017/18 financial results covered their second season in the Championship with Tony Xia as chairman following relegation from the Premier League. They finished 4th, but narrowly missed out on promotion after losing in the play-off final. Some thoughts follow #AVFC
Following that defeat, #AVFC “experienced significant liquidity problems”, including a missed tax payment to HMRC, which led to a rescue by billionaire businessmen Nassef Sawiris and Wes Edens, who injected £68m of funding with NSWE SCS becoming the club’s controlling owners.
#AVFC loss increased by £21m from £15m to £36m, as revenue dropped £5m (7%) from £74m to £69m and profit on player sales fell £11m from £27m to £16m. On the other hand, the club received £3m compensation for HS2 rail project, which will go through part of the training ground.
Read 42 tweets
Wolverhampton Wanderers 2017/18 financial results covered a successful season, when the club was promoted to the Premier League as champions after a six-year absence, led by head coach Nuno Espirito Santo under the ownership of Fosun International. Some thoughts follow #WWFC
#WWFC loss shot up from £23m to a breathtaking £57m, largely due to increased expenditure on players and wages plus an estimated £20m on bonuses and additional transfer fee payments following promotion.
#WWFC revenue rose 11% (£2.6m) from £23.8m to £26.4m, as commercial increased £1.4m (15%) to £10.6m and gate receipts were up £1.3m (20%) to £7.8m, but broadcasting was flat at £8.0m. Profit on player sales was £5.9m higher at £8.1m.
Read 39 tweets
Preston North End’s 2017/18 financial results covered a season when they finished in an impressive 7th place in the Championship , just missing out on the play-offs. Alex Neil replaced Simon Grayson as manager in July 2017. Some thoughts in the following thread #pnefc
#pnefc made £2.6m profit before tax compared to a £0.4m loss the prior season, even though revenue fell very slightly (1%) to £13.3m. In contrast, profit on player sales increased £7.5m to £9.7m. Profit after tax up from £0.9m to £2.6m, as there was a £1.3m tax credit in 2016/17.
#pnefc £0.2m revenue decrease was due to falls in both match day, £0.3m (8%) to £3.4m, and commercial, £0.2m (6%) to £2.8m. This was partially offset by a £0.3m (5%) rise in broadcasting, due to a higher solidarity payment.
Read 37 tweets
Nottingham Forest’s 2017/18 financial results covered the first full season under the ownership of Evangelos Marinakis (80%) & Sokratis Kominakis (20%), who bought the club in May 2017 from Fawaz Al-Hasawi, when they finished 17th in the Championship. Some thoughts follow #NFFC
#NFFC reported a £6m loss before tax compared to a £32m the prior season, though the £38m drop is a bit misleading, as it was largely due to loan write-offs decreasing from £40m to £5m. Revenue rose £1.9m (9%) to £22.7m, but profit on player sales fell £4.7m to £10.1m.
#NFFC £1.9m revenue increase was due to more broadcasting revenue from the EFL, up £0.8m (10%) to £9.0m, and higher ticketing income, up £0.9m (14%) to £7.4m, as attendances grew by 21%. Commercial income was flat overall at £5.2m, while player loans rose £0.2m to £1.1m.
Read 36 tweets
Sheffield United’s 2017/18 financial results covered their first season back in the Championship after six years in League One, when they mounted an unlikely challenge for a play-off place before finishing a creditable 10th. Some thoughts in the following thread #SUFC
#SUFC reduced the loss from £5.7m to £1.9m, highlighting the “significant impact” of promotion. Revenue rose 76% (£8.7m) to £20.0m, but this was more than offset by the cost of operating in a higher division, as wages rose £8.9m (89%) to £19.0m & other expenses up £1.9m to £8.5m.
However, it is worth noting that #SUFC lower loss is essentially driven by higher profit on player sales, which rose £5.6m to £8.4m. If this is excluded, loss was actually larger in the Championship than League One. In addition, no repeat of prior season £0.6m player impairment.
Read 36 tweets
Queens Park Rangers 2017/18 financial results covered a season the club described as one “of rebuilding and reflection”, as they finished 16th in the Championship, after which manager Ian Holloway left to be replaced by Steve McClaren. Some thoughts in the following thread #QPR
#QPR loss significantly increased by £32m from £6m to £38m, largely due to booking a £20m FFP fine (for previous misdemeanours); a £15m reduction in the parachute payment driving a £17m (35%) decrease in revenue from £48m to £31m; and profit on player sales down £7m to zero.
All three #QPR revenue streams were down. As well as broadcasting slumping £15.1m (43%) to £20.2m, due to the lower parachute payment, commercial fell £1.2m (17%) to £6.3m, while gate receipts were £0.3m (6%) lower at £4.9m.
Read 36 tweets
I published a study last week on where Premier League clubs source their money and what they spend it on by reviewing the clubs’ cash flow statements over the last decade. Today I do a similar exercise on Championship clubs – where the picture is very different.
In the 10 years between 2008 and 2017 Championship clubs had over £2.8 bln of available cash with the vast majority of financing £2.5 bln coming from their owners (loans £1.9bln and shares £0.6 bln)
So an incredible 87% of Championship clubs’ cash came from owner financing with just 7% from operating activities. This is in stark contrast to the Premier League with 54% from operations and 42% from owners. There was also £41m from (net) player sales & £45m from bank balances.
Read 22 tweets

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