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I think under Premier League FFP we are only allowed to show an increase in wages of £12m based on the rule of £4m plus increase in commercial income. I'm not sure we are allowed to alter player amortisation so the increase in costs must be coming from elsewhere. Could we have re-evaluated the capital assets downward and taken a one off hit on operating costs? Any similar scams?

 

Impairments on Bigi, Gouffran, etc and all other ruined players? :lol:

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I'm no expert, but something stinks here. We'll have to wait until full details are released and the real accountants among our ranks can go through it with a fine tooth comb. It does seem to be that a lot of cash seems to have disappeared - particularly when he's not paid back any of what the club owes him. He's using that loan to choke the life out of the club - which we knew already. For me, he's not going to sell any time soon. He's here for the duration.

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Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space?

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Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space?

 

It would probably be shot down by the minority shareholders, MA is restricted in what he can do with related party transactions when you are a plc.

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Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space?

 

The decrease in value of the shares in SD would by far outweigh the positive effects on our accounts. If investors knew he was siphoning off large sums of money to NUFC from SD, SD shares would tank. It's better for him if it's the other way around. A 1% rise in SD shares nets him millions of pounds.

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Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space?

I assume the SD shareholders would start crying that he's using his positions to launder cash from the company which would affect the shareprice. Doing this way helps keep the SD shareprice high, helps keep his position at SD solidified too.  The market is causing our growth, we can be run on autopilot if we stay in the league. SD needs greater investment.
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Not familiar with UK standards, but I would be surprised if player's revaluation is above the operating profits line.  That means the additional cost is not due to player's revaluation nor transfer payment.  As someone mentioned, training centre cost should be capital expense and should not affect the operating profit.

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Player trading isn't even included here, is it? Is that normal? Or is that the difference between Operating Profit and After Tax Profit?

 

That should be the difference.  Those are "non-operating income / expenses".  So even if we received less money than quoted, it should only impact after tax profit.

 

So the question re the operating profit still persists.  30m more revenue, 4m more operating profits, so around 25m additional cost incurred.  This doesn't make sense, unless, that's the "Bonus" paid to everyone for finishing tenth.

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