| Swans publish P&S figures up to end June 2024 16:47 - Mar 30 with 3993 views | KeithHaynes |
🔴 We will talk with the trust and their advisor who has a wealth of football finance knowledge once the actual figures are available. Some of this is widely available before this announcement on the Indy. Joel Piroe as an example and his instalments.
P&S is measured over three returns the last two are
2023 - pre tax loss of £13.2m
2024 - pre-tax loss of £17.9m
Now we have £15.2m
With the three year period total losses being allowed as in and around £41.8m without expert opinion the Swans are just above £46m. That of course is too much. Not sure as stated if these figures out the Swans in trouble or not.
🔴 Swansea City FC has published its financial statements for the eleven month period ended 30 June 2024. The financial statements report a pre-tax loss of £15.2m compared to a pre-tax loss of £17.9m for the previous financial year. The company took the decision to change the year end date to 30 June to align with the Financial Reporting period currently set by the English Football League (EFL).
Turnover for the eleven month period was £21.5m. Player trading produced a profit of £10.5m, and includes the initial profit on the sale of Joel Piroe to Leeds United. These profits helped to ensure that the Club remained compliant with the EFL Profitability and Sustainability regulations for the season.
The Board wishes to place on record its thanks to its supporters, sponsors and other stakeholders for their continued invaluable support during the season.
The club invested significantly in its playing squad in the financial year under review; acquisition costs of player registrations in the financial period amounted to £6.0m. The associated costs contributed to an increase in operational expenses to £47.0m for the eleven month period compared to £43.0m for the previous year.
The Board acknowledges that whilst the magnitude of the operational loss is a product of the highly competitive environment within the EFL Championship in which the Club currently competes; the Club will continue to focus on achieving operational efficiencies in order to maximise the resources which can be invested into the first team squad. The costs of operating a Stadium and two training facilities are significant and are growing. In the absence of any immediate prospect of an redistribution agreement between the EFL and the Premier League then the club will continue to be reliant on the support of its Ownership Group as the main source of funding.
During the period, further shares of £16.5m were issued compared with £41.2m in the prior period. Subsequently to this period end, a further £21.0m of shares have been issued.
The Board wishes to place on record its thanks to the Ownership Group for their continued support of our Club.
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| Swans publish P&S figures up to end June 2024 on 21:10 - Mar 30 with 2499 views | blackpooljack |
Surely the club need to be looking at creating more revenue streams, i know he's gone but wasn't that Silversteins remit. |  | | |
| Swans publish P&S figures up to end June 2024 on 21:15 - Mar 30 with 2484 views | Luther27 |
Stadium operating costs? We were paying Swansea Council literally peanuts for the lease. I know there was a re negotiated lease but not sure how much for. So…how much do the Swans have to pay now? |  | | |
| Swans publish P&S figures up to end June 2024 on 21:19 - Mar 30 with 2451 views | Whiterockin |
| Swans publish P&S figures up to end June 2024 on 21:15 - Mar 30 by Luther27 |
Stadium operating costs? We were paying Swansea Council literally peanuts for the lease. I know there was a re negotiated lease but not sure how much for. So…how much do the Swans have to pay now? |
I believe it's £300,000 a year for 37 years from when they acquired the lease in 2017. |  | | |
| Swans publish P&S figures up to end June 2024 on 21:39 - Mar 30 with 2389 views | KeithHaynes |
| Swans publish P&S figures up to end June 2024 on 21:10 - Mar 30 by blackpooljack |
Surely the club need to be looking at creating more revenue streams, i know he's gone but wasn't that Silversteins remit. |
Coleman over the last year, and allegedly he has done ok. Without seeing the breakdown we won’t know just yet. But we have lost commercial revenue as we reported last month. So have to wait and see.
It could be I’ve been told that the losses may well be the total loss, but not everything affects P&S.
However, these basic figures don’t tell us a great deal. They shouldn’t have been released until Tuesday, so are seeing bad news on a good news weekend ? I know a few people at the club were shocked to see this revealed today, possibly Gorringe’s first move as ceo ? Plenty to come out in the forum now.
BTW the forum will be live streamed , not sure if that’s knowledge or not. | |
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| Swans publish P&S figures up to end June 2024 on 21:48 - Mar 30 with 2357 views | Whiterockin |
| Swans publish P&S figures up to end June 2024 on 21:39 - Mar 30 by KeithHaynes |
Coleman over the last year, and allegedly he has done ok. Without seeing the breakdown we won’t know just yet. But we have lost commercial revenue as we reported last month. So have to wait and see.
It could be I’ve been told that the losses may well be the total loss, but not everything affects P&S.
However, these basic figures don’t tell us a great deal. They shouldn’t have been released until Tuesday, so are seeing bad news on a good news weekend ? I know a few people at the club were shocked to see this revealed today, possibly Gorringe’s first move as ceo ? Plenty to come out in the forum now.
BTW the forum will be live streamed , not sure if that’s knowledge or not. |
It seemed very strange to me this being released on a Sunday its not normal practice. As for commenting on the figures I'd rather wait, because the devil will be in the detail. There will be so much more to discuss when we see the finer details, as you say. | | | |
| Swans publish P&S figures up to end June 2024 on 22:48 - Mar 30 with 2231 views | Luther27 |
| Swans publish P&S figures up to end June 2024 on 21:19 - Mar 30 by Whiterockin |
I believe it's £300,000 a year for 37 years from when they acquired the lease in 2017. |
That sounds quite cheap for a 20k seater stadium to me. I’m assuming Swansea Council maintain the stadium? | | | |
| Swans publish P&S figures up to end June 2024 on 23:21 - Mar 30 with 2182 views | STID2017 |
With regards to running cost, surely things like electricity impact on this ?
Not sure it has to be lit up like Blackpool Illuminations all the time ? |  |
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| Swans publish P&S figures up to end June 2024 on 23:24 - Mar 30 with 2169 views | ReslovenSwan1 |
| Swans publish P&S figures up to end June 2024 on 22:48 - Mar 30 by Luther27 |
That sounds quite cheap for a 20k seater stadium to me. I’m assuming Swansea Council maintain the stadium? |
The football club has to maintain the stadium. They attempted to take the construction firm to court for some steel work defects a few years back but it was outside the maintenance period, I read.
They also were obliged to construct 4 G pitches for the community which everyone appears to have forgotten. It is within the remit of the Trust to follow this sort of issue with the community. It may have been dependent on PL status?
The council get a cut of certain income streams, I read, like advertising at the ground and possibly concert fees.
Losing close on £300k a week. Even if the club had sellouts every week it would still lead to a loss of £10m +. Mind boggling losses. No wonder Coleman is on his way.
[Post edited 30 Mar 23:38]
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| Swans publish P&S figures up to end June 2024 on 23:35 - Mar 30 with 2149 views | Fireboy2 |
| Swans publish P&S figures up to end June 2024 on 23:24 - Mar 30 by ReslovenSwan1 |
The football club has to maintain the stadium. They attempted to take the construction firm to court for some steel work defects a few years back but it was outside the maintenance period, I read.
They also were obliged to construct 4 G pitches for the community which everyone appears to have forgotten. It is within the remit of the Trust to follow this sort of issue with the community. It may have been dependent on PL status?
The council get a cut of certain income streams, I read, like advertising at the ground and possibly concert fees.
Losing close on £300k a week. Even if the club had sellouts every week it would still lead to a loss of £10m +. Mind boggling losses. No wonder Coleman is on his way.
[Post edited 30 Mar 23:38]
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The trust 🙄 |  | | |
| Swans publish P&S figures up to end June 2024 on 23:41 - Mar 30 with 2118 views | ReslovenSwan1 |
| Swans publish P&S figures up to end June 2024 on 23:35 - Mar 30 by Fireboy2 |
The trust 🙄 |
I take them seriously and expect them to do what the say and be the link between the club and the community. The idea that they would "protect football in Swansea and south west Wales" is well beyond their capabilities. | |
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| Swans publish P&S figures up to end June 2024 on 05:02 - Mar 31 with 1998 views | BarryTownSwam |
Are 2 training facilities necessary?
Is it feasible to integrate 2 sites into 1 ??
Would it reduce running costs substantially ? | | | |
| Swans publish P&S figures up to end June 2024 on 06:28 - Mar 31 with 1949 views | builthjack |
Bringing in players like Pederson on a million pound a year, Yates, the Ukrainian etc.
Very poor choices is costing millions every year. |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Swans publish P&S figures up to end June 2024 on 06:36 - Mar 31 with 1937 views | Whiterockin |
| Swans publish P&S figures up to end June 2024 on 06:28 - Mar 31 by builthjack |
Bringing in players like Pederson on a million pound a year, Yates, the Ukrainian etc.
Very poor choices is costing millions every year. |
Spot on. Throw in paying compensation for managers then paying them off. The losses could have been much lower if the Americans had any knowledge of British football or employed someone who did. | | | |
| Swans publish P&S figures up to end June 2024 on 07:51 - Mar 31 with 1871 views | QJumpingJack |
If Coleman is chairman until the end of the season - why is he not at the forum where he will be the best to answer questions on the accounts/and player trading? | | | |
| Swans publish P&S figures up to end June 2024 on 08:16 - Mar 31 with 1842 views | Thornburyswan |
Nothing wrong with your maths Keith but those accumulated 3-year loss figures are before you take account of the PSR add backs e.g. academy spent, women’s football & depreciation/amortisation.
Typically for us that is circa £4M pa so you can probably add around £12M back in so as at 06/24 the club will be comfortably inside the upper PSR loss limited. That said of course we are already 9 months through the current year. | | | |
| Swans publish P&S figures up to end June 2024 on 10:33 - Mar 31 with 1698 views | union_jack |
| Swans publish P&S figures up to end June 2024 on 06:28 - Mar 31 by builthjack |
Bringing in players like Pederson on a million pound a year, Yates, the Ukrainian etc.
Very poor choices is costing millions every year. |
Yes but there’s not a club out there I’d wager who doesn’t have a player or two on the wage roll who they regret buying. Part and parcel of running a football club, it’s not a precise science. |  |
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| Swans publish P&S figures up to end June 2024 on 11:55 - Mar 31 with 1590 views | KeithHaynes |
| Swans publish P&S figures up to end June 2024 on 08:16 - Mar 31 by Thornburyswan |
Nothing wrong with your maths Keith but those accumulated 3-year loss figures are before you take account of the PSR add backs e.g. academy spent, women’s football & depreciation/amortisation.
Typically for us that is circa £4M pa so you can probably add around £12M back in so as at 06/24 the club will be comfortably inside the upper PSR loss limited. That said of course we are already 9 months through the current year. |
Which is why I mentioned caveats.
As in the OP I was looking at the overall figures, without a breakdown as we will see this week it is hard to say, yes of course taking on board the non inclusive areas but as yet we don’t know what they are. As you say we hope they will ensure a far more clearer position for the club.
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| Swans publish P&S figures up to end June 2024 on 13:19 - Mar 31 with 1431 views | JACKMANANDBOY |
I wonder how long the losses throughout the Championship can last? |  |
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| Swans publish P&S figures up to end June 2024 on 16:10 - Mar 31 with 1269 views | QJumpingJack |
Tom G has a lot to get up to speed for Thursday at the forum. | | | |
| Swans publish P&S figures up to end June 2024 on 16:36 - Mar 31 with 1204 views | ReslovenSwan1 |
"Current Loss Limit:
The current allowable loss limit for Championship clubs is around £41.5 million over three years."
Swansea at £45m with Academy and women's team costs offset £3-4m? So latitude over new invested cash ? The club must be skirting very close to the limits one would think. | |
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| Swans publish P&S figures up to end June 2024 on 19:34 - Mar 31 with 1008 views | QJumpingJack |
We so need a Trevor Birch type executive running the club. | | | |
| Swans publish P&S figures up to end June 2024 on 20:45 - Mar 31 with 894 views | KeithHaynes |
| Swans publish P&S figures up to end June 2024 on 19:34 - Mar 31 by QJumpingJack |
We so need a Trevor Birch type executive running the club. |
Not on his money or even what he was on before.
We potentially have the cheapest salary across the board for a ceo atm. | |
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| Swans publish P&S figures up to end June 2024 on 20:54 - Mar 31 with 871 views | QJumpingJack |
| Swans publish P&S figures up to end June 2024 on 20:45 - Mar 31 by KeithHaynes |
Not on his money or even what he was on before.
We potentially have the cheapest salary across the board for a ceo atm. |
including Gude? | | | |
| Swans publish P&S figures up to end June 2024 on 21:15 - Mar 31 with 814 views | KeithHaynes |
| Swans publish P&S figures up to end June 2024 on 20:54 - Mar 31 by QJumpingJack |
including Gude? |
Never really asked the question but Gude won’t be here on small money. Gude needs to leave unless he has a stupid contract. Him and Coleman wasted a fortune on the Welsh league nonsense. Both were suckered by Mooney at the FAW is my belief. That exposed their lack of knowledge on UK football (again) believing that it was a goer. Mooney clearly saw that as a good opportunity to get the dominating clubs in the EFL closer to the Welsh league. | |
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