Just glanced at the accounts, I'm no expert to be honest. While I'm happy that we have made a 'profit' and paid off some 'debt'...A deeper look at the numbers makes you think that Bill and Elstone are blowing smoke up their own arseholes without valid reason. And I'm not an open critic of these guys but they have peeved me a bit with their press talk.
Let me explain...
Firstly, I'm not concerned by the previous points about Fellaini/Lukaku/double whammy next year. This is because 'Operating Profit', excluding player transfers, was£23.7mill.
This is mainly because of a significant increase in TV revenue. And that's my gripe with Bill and Bob patting themselves on the back.
Our income went from £86.4mill to £120.5mill (+£34.1mill). Of which, £32.8mill is TV money (every club will see a sizeable increase in TV money. We benefited a bit more due to an increase in live games through attractive football). That means that the powers at our club and their commercial buddies managed to raise an extra £1.3mill through their activities. Or did they? Gate receipts were up £1.9mill (more season tickets sold and higher attendances due to extra optimism amongst fans). Sponsorship, Advertising and Merchandising was up by just £800, 000 while bizarrely Catering dropped by £200,000 and 'other commercial' fell by £1mill!
So beyond the extra TV money, and the extra Gate Receipts from you lot...the bits I would closely associate to the 'behind the scenes people' (that being Commercial, Sponsorship, Advertising, Catering etc) actually fell by £400,000!
Feel free to correct me if I have that wrong.
I don't find that acceptable at all. We are a club that regularly finishes in the top 6. A well recognised traditional club. We have a long running deal with Chang which is supposed to expose us to the Eastern market and therefore, you would think, increase our commercial income. Yet clearly it isn't as our commercial revenues are poor.
The accounts also potentially reveal that we were paying way to much for Finch Farm rental. As we know, the Council bought Finch Farm and rented it back to us. This has helped our 'Land and Properties' rental go from £1.4mill to £550,000. So thanks to the council for that!
The only other real standout is the increase of the much debated and mysterious 'Other Operating Costs' from £21.5mill to £26mill...although I read a note about some sort of youth/community development thing that was £4.5mill...I think this is the first time some of the other operating costs have ever been elaborated on...so what's the other £21million???
Like I say, correct me if I have anything wrong here!!!