Bush wrote:In other words without the FA cup we were fecked.

No,in two seasons we were £12k in debt.In football that is nothing.

Percy plunkett wrote:

Bush wrote:In other words without the FA cup we were fecked.

No,in two seasons we were £12k in debt.In football that is nothing.

How much without money you can’t budget for? Ie player sales and cup runs?

Bush wrote:

Bangitintrnet wrote:

Bush wrote:
That doesn’t even make sense.

If you overspend by £350k to stay up, and over the same period that you have transfer money of £350k coming in, the bank balance is £0

350k spent on those players signed in jan last year? So o’brien, Mickey D, Craig Reid, williams, bird, pipe got 350k between them for 5months Work? That’s an average of 60k each?

Agree with you Bush, never in a million years did those players cost us £350k in wages between them.
OB and Demetriou were effectively on the scrap heap before we signed them and the other 4, especially Reid & Williams would have been on 'pennies'.

Exile 1976 wrote:Either way you look at it a £350k annual loss for a club like ours with no assets is horrendous.

The club had to pay off Feeney,Westley and their assistants plus finance the extra 10 players brought in by Westley in the January.It was an extraordinary period,no such worries this season plus the cup windfall.

jamiedharris wrote:Full accounts here, for anyone interested:

https://beta.companieshouse.gov.uk/comp ... download=0

Would recommend everybody reads these accounts.
Clearly without the Washington plus few others monies due coming in we would of made a similar loss the previous year also.
Profit of £350k is after funds of £750K from Connor etc. Hence without those funds a loss of equivalent proportions
Basically without the Washington money and McCoulskys goal the club would now be insolvent with debts of over a million.
Negative equity last season totalled over half a million!
Two incidents have saved this club of hours nothing else.

Percy plunkett wrote:

Exile 1976 wrote:Either way you look at it a £350k annual loss for a club like ours with no assets is horrendous.

The club had to pay off Feeney,Westley and their assistants plus finance the extra 10 players brought in by Westley in the January.It was an extraordinary period,no such worries this season plus the cup windfall.

20k to pay off westley wasn’t it? None of the players we signed were wanted by other clubs. Some of those ten players were kids on loan. 350k for all that? No chance. That’s what we will be told but in reality no chance. If it is true then how much are we paying some of those players now who easily would have had pay increases to stay.

The board"anticipates a profit this season"
Surely they need to be far more positive than "anticipates" with over £900K profit from the cup run.

From the club blog of the last open meeting -

https://www.newport-county.co.uk/news/2 ... live-blog/

Has the board put aside any of the money from the FA Cup Run?

We are setting up a separate bank account and the money is going into that separate bank account. We are trying to avoid what we've done in the past, especially last year, which is spend the money to stay in the league.

In the grand scheme of things, whilst the £700,000 is a lot of money, it's not actually enough to build a new stadium and we're never going to save up the money to do that. There are a lot of considerations in funding costs.

Amberexile wrote:From the club blog of the last open meeting -

https://www.newport-county.co.uk/news/2 ... live-blog/

Has the board put aside any of the money from the FA Cup Run?

We are setting up a separate bank account and the money is going into that separate bank account. We are trying to avoid what we've done in the past, especially last year, which is spend the money to stay in the league.

In the grand scheme of things, whilst the £700,000 is a lot of money, it's not actually enough to build a new stadium and we're never going to save up the money to do that. There are a lot of considerations in funding costs.

Amber where is the £700k coming from as it was stated a profit of well over £900K was made from the cup run?

So previous year was a £300 k + profit, so overall a drop of nearly 700k in a year. Is that correct or me being stupid ?

Bush wrote:

Percy plunkett wrote:

Exile 1976 wrote:Either way you look at it a £350k annual loss for a club like ours with no assets is horrendous.

The club had to pay off Feeney,Westley and their assistants plus finance the extra 10 players brought in by Westley in the January.It was an extraordinary period,no such worries this season plus the cup windfall.

20k to pay off westley wasn’t it? None of the players we signed were wanted by other clubs. Some of those ten players were kids on loan. 350k for all that? No chance. That’s what we will be told but in reality no chance. If it is true then how much are we paying some of those players now who easily would have had pay increases to stay.

What about lower gates all season, wouldn't that contribute?

SULLY34 wrote:So previous year was a £300 k + profit, so overall a drop of nearly 700k in a year. Is that correct or me being stupid ?

You are not stupid just incorrect.
Totally separate figures but only reason for previous profit was the Washington money.

Don't know what the Westley pay off was.As you are in the know Bush,what did we pay to Dino,Feeney and McCarthy.Not forgetting Todd.

jollysuperstar wrote:

SULLY34 wrote:So previous year was a £300 k + profit, so overall a drop of nearly 700k in a year. Is that correct or me being stupid ?

You are not stupid just incorrect.
Totally separate figures but only reason for previous profit was the Washington money.

But if we were £339 k in profit last year and £351 k down this year then surely that's an overall difference of nearly £700 k in revenue ??

Breaking News!! Football Club makes a loss like it never happens