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PriceOfFootball
@KieranMaguire
, 14 tweets, 7 min read Read on Twitter
Nottingham Forest lost £390,000 a week in 2017/18 & needed player sales and loan write offs to reduce losses #NFFC
Nottingham Forest total losses now £146 million and would be touching £200m except for loan write offs from various owners #NFFC
Forest paid £122 in wages for every £100 of income, which is lowest wage/income ratio for six years #NFFC
Forest’s main income sources matchday sales and broadcasting (inc Premier League solidarity payments) #NFFC
Forest signed players for £6.6m in 2017/18 and had sales of £13.2 million #NFFC
Forest owe the owners quite a lot but much of the debt was converted into shares or written off in 2017/18 #NFFC
If you want to lose a lot of money buy a Championship football club as Forest have averaged losses of £400,000 a week in recent years #NFFC
In no other business than Championship football would business owners pay out more in wages every year than they generate in income #NFFC
Mainly due to parachute payments Forest are in the bottom half of income generators in the Championship #NFFC
Forest are mid-table in the Championship when it comes to wages. #NFFC
Over half the clubs in the Championship spend more on wages than they generate in income so Forest not alone and below rivals Derby #DCFC . Special mention of Harry Redknapp for his 'triffic' performance at Birmingham City last year to put them top of this table #NFFC #KRO
Overall income in Championhip was £690 million and wage bill £673 million, which doesn't leave much to mow the pitch and switch on the floodlights
Every club in the Championship had operating losses last season totalling £407 million...and this is with FFP supposedly restraining overspending. Forest again mid table #NFFC
Forest spending very modest by Championship standards last season. Few fans would realise they spent less than the likes of Barnsley #NFFC
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More from @KieranMaguire see all

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PriceOfFootball
@KieranMaguire
Burton Albion had a very modest trading loss by Championship standards of less than £6,000 a week offset by sale of Jackson Irvine to Hull #Brewers
No borrowing from Burton Albion in 2017/18 and only investment was £1,100 from share issue as club continued to live within its means. #Brewers
Gate receipts just £1.8 million for Burton Albion in 2017/18. Commercial income of £11m includes about £7m of TV money which will fall substantially in 18/19 as standard payout in League One is £1.1 million #Brewers
Read 6 tweets
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PriceOfFootball
@KieranMaguire
Preston show how a club that most assume are run modestly still find it tough financially in the Championship as lost £140,000 a week from trading & needed player sales to offset this #PNEFC #PNE
Chasm between Premier League & Championship broadcasting deals highlighted by Preston earning £7m from TV compared to £100-120m in the Premier League
Preston wage bill up 10% to £15million, which is low by Championship standards. Still paying out £113 in wages for every £100 of income though
Read 8 tweets
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PriceOfFootball
@KieranMaguire
Aston Villa Football Club Limited publishes losses of £32 million for 2017/18. Take these figures with extreme caution as exclude player wages and player transfer amortisation, which are in the accounts of parent Recon Group UK whose accounts are overdue #AVFC #SmokeAndMirrors
Villa income should be broadly correct for Group too. Gate receipts up due to playoffs. Broadcasting down £7m & likely to fall another £20m+ in 2018/19 as parachute payments taper. Sponsorship up due to training ground agreement
Wages for Aston Villa Football Club Ltd £6m excludes players in 2017/18. Recon Group in 2016/17 had wages of £61m including players.#AVFC
Read 6 tweets

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Swiss Ramble
@SwissRamble
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
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Swiss Ramble
@SwissRamble
Birmingham City’s 2017/18 financial results covered a season when they finished 19th in the Championship, only avoiding relegation on the final day, and had three managers: big-spending Harry Redknapp, Steve Cotterill and Garry Monk. Some thoughts in the following thread #BCFC
#BCFC loss before tax more than doubled from £16.4m to a barely credible £37.4m, primarily due to massive investment in the squad: wages rose £16.1m (71%) from £22.5m to £38.6m, while player amortisation increased by £5.0m from £2.6m to £7.6m.
The higher #BCFC loss arose even though revenue grew by 9% (£1.6m) to £19.1m and profit on player sales was up £1.9m to £2.1m. All revenue streams increased: broadcasting £0.6m (9%) to £7.6m, match receipts £0.6m (13%) to £5.1m and commercial £0.4m (6%) to £6.5m.
Read 37 tweets
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Swiss Ramble
@SwissRamble
Although the 2016/17 financial results for the Championship are now a season out-of-date, they are the most recent published by the clubs, so people might still be interested in the comparisons as the new season kicks-off. Some thoughts in the following thread.
In contrast to the Premier League, only 6 clubs in the Championship made money, led by #NFFC £32m & #BarnsleyFC £13m. In this very competitive division most clubs over-extend in a bid to reach the lucrative top flight. Largest losses at 2 promoted clubs: #NUFC £47m & #BHAFC £39m.
Some clubs’ figures impacted by significant exceptional items, so #NFFC (£40m) and #ReadingFC (£9m) were boosted by loan write-offs. In contrast, promotion bonuses adversely affected #HTAFC £12m, #NUFC £10m and #BHAFC £9m. Newcastle also booked £22m onerous contract provisions.
Read 26 tweets
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Swiss Ramble
@SwissRamble
Leeds United’s 2016/17 financial results covered a season when they finished 7th in the Championship under former head coach Garry Monk, thus just missing out on the play-offs #LUFC
2016/17 also saw Massimo Cellino’s three-year reign come to an end, as fellow Italian Andrea Radrizzani first bought a 50% stake in December 2016 before taking 100% ownership in May 2017. He reportedly paid £45m to acquire #LUFC.
#LUFC reported a £1m profit, around £10m better than the previous season’s £8.9m loss, mainly due to £6.1m increase in profit on player sales to £8.9m, though revenue also rose £4m (13%) to £34.1m.
Read 39 tweets
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Swiss Ramble
@SwissRamble
Blackburn Rovers’ financial results for 2016/17 covered “a season to forget for #Rovers fans”, as the club was relegated from the Championship to League One with manager Owen Coyle replaced by Tony Mowbray. The good news is that they have immediately bounced back in 2017/18.
#Rovers loss worsened by £2.3m from £1.5m to £3.8m, mainly due to £7.1m (32%) reduction in revenue to £14.9m and £6.0m fall in profit on player sales to £10.4m, offset by cost cuts: wages £3.4m (13%) to £22.0m, other expenses £4.8m (51%) to £4.5m & player amortisation £1.8m.
Main reason for what #Rovers Finance Director Mike Cheston described as “a significant drop in income” was the loss of parachute payments £10.5m, though the blow was softened by £4.3m solidarity payments. Match day and commercial slightly declined, by £0.2m & £0.1m respectively.
Read 35 tweets
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Swiss Ramble
@SwissRamble
Nottingham Forest recently published financial results for 2016/17, when they finished 21st in the Championship, narrowly avoiding relegation. After the season concluded, the club was purchased from Fawaz Al Hasawi by NF Football Investments Ltd. Some thoughts follow #NFFC
NF Football Investments Ltd is owned by Evangelos Marinakis (80%) & Sokratis Kominakis (20%). Marinakis is a Greek shipowner, who also owns perennial Greek champions Olympiacos. The takeover was concluded on 18th May 2017, i.e. at the very end of the 16/17 reporting period #NFFC
#NFFC reported a £32.1m profit against a £2.2m loss the previous season (a £34.3m improvement), largely due to loan write-offs increasing by £22.7m from £17.7m to £40.4m and profit on player sales rising £10.4m to £14.7m, mainly the sale of Oliver Burke to RB Leipzig.
Read 36 tweets

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