After a couple of requests, I’ve prepared some of the new financial fact sheets for a few Dutch clubs. This thread includes overviews for #Ajax #PSV #Feyenoord and #AZ
#Ajax profit before tax shot up from €3m to €69m in 2019, largely due to revenue more than doubling to a record €199m (thanks to Champions League run) and profit on player sales rising from €39m to €73m. Wages also rose to €92m, but wages to turnover 46%. No financial debt. ImageImage
#PSV revenue rose 56% in 2019 to €97m, mainly due to return to Champions League. As a rule, club posts operating losses (€13m in 2019), offset by strong player sales. Wages up to €45m, but wages to turnover 46%. Highest debt in Netherlands with €34m plus €41m transfer debt. ImageImage
#Feyenoord revenue fell 29% in 2019 to €71m, as did not qualify for Champions League. Wages unchanged at €35m, leading to €15m operating loss (2nd worst in Netherlands) and €8m pre-tax loss (first since 2011). Debt up to €7m – quite low, but 3rd highest in Eredivisie. ImageImage
#AZ had 2nd highest pre-tax profit in Netherlands of €11m, but only due to €24m profit on player sales, as operating loss widened to €13m. Revenue flat at €25m (higher in 2016 and 2017, due to Europa League). High wages to turnover 73% and 2nd highest Dutch debt of €13m. ImageImage

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More from @SwissRamble

Jan 26
Detailed review of the Deloitte Money League 2021/22 can be found on my Substack, but some snippets in this short thread.

swissramble.substack.com/p/money-league…
#MCFC £619m reported the highest revenue, just ahead of #RealMadrid £605m with #LFC £594m up to 3rd, overtaking #MUFC £583m, #PSG £554m, #FCBayern £554m and #FCBarcelona £540m.
8 of the 9 highest revenue increases over 2020/21 came from English clubs. #LFC led the way with an impressive £106m, followed by #MUFC £89m and #THFC £82m. The biggest reductions were at two Italian clubs, troubled Juventus £44m and Inter £32m.
Read 13 tweets
Jan 3
Detailed review of West Ham's financial results for the 2021/22 season is in my Substack blog, but a few highlights to follow #WHUFC
#WHUFC swung from a £27m pre-tax loss to £12m profit, a £39m improvement.
#WHUFC revenue rose £60m (31%) from £193m to a club record £253m.
Read 11 tweets
Dec 12, 2022
Analysis of Manchester United's first quarter financials for the 2022/23 season. Loss increased, as operational improvement wiped out by higher interest. No dividend payment. Gross financial debt up to £680m. Highest ever PL transfer debt £307m #MUFC swissramble.substack.com/p/manchester-u…
A few points from the detailed analysis of Manchester United's Q1 2022/23 results #MUFC
Gross financial debt increased £44m to £680m since year-end, so is now £76m higher than the £604m owed after the Glazers’ leveraged buyout nearly 20 years ago. Largely due to the weakening GBP, as most of the debt is denominated in USD #MUFC
Read 8 tweets
Nov 28, 2022
Sensational news emerging off the pitch this evening, as the #Juventus board, including President Andrea Agnelli, has resigned amid "legal and technical/accounting matters", citing issues which the club referred to as "salary manoeuvres”.
This relates to players waiving part of their salaries in response to the COVID pandemic in 2019/20 and 2020/21 plus subsequent loyalty bonuses.
Although #Juventus said that a review by independent experts said that the accounting treatment used "falls within those allowed by applicable accounting principles", they now believe that a more prudent approach would be appropriate.
Read 10 tweets
Nov 14, 2022
#CelticFC 2021/22 accounts cover a season when they regained the Scottish Premiership title under new manager Ange Postecoglou and also won the League Cup, but were eliminated from the Europa League after the group stage.
#CelticFC swung from £11.5m pre-tax loss to £6.1m profit (£5.8m after tax), as revenue rose £27m (45%) from £61m to £88m and profit on player sales increased £20m from £9m to club record £29m, partly offset by £25m (29%) higher operating expenses and no repeat of £5m insurance.
Main reason for #CelticFC revenue increase was match day, which rose £22m (107%) from £21m to £43m, due to the return of fans to the stadium, while commercial grew £3m (11%) to £32m in a more normalised trading environment and broadcasting was up £2m (18%) to £13m.
Read 45 tweets
Nov 11, 2022
I’ve had a few questions on the revenue impact of Barcelona’s exit elimination from this season’s Champions League after the group stage. As is often the case, the answer depends on how you look at it #FCBarcelona
As per my model, #FCBarcelona have earned €70.2m from this season’s Champions League, comprising participation fee €15.6m, prize money €7.0m, UEFA coefficient €34.1m and TV pool €15.9m less €2.5m COVID rebate to broadcasters. Image
As we can see, #FCBarcelona have benefited from their previous good record in Europe with their UEFA coefficient €34.1m payment accounting for nearly half their total €70.2m distribution. This is currently the third highest in Europe, only behind #RealMadrid and #FCBayern. Image
Read 12 tweets

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