Deleted
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Post by Deleted on Jun 4, 2021 8:58:54 GMT 1
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Post by yappledapple on Jun 4, 2021 9:10:38 GMT 1
Makes interesting reading - shows that the PL isn’t necessarily the promised land and that it continues to be an expensive business running a football club.
As PH keeps telling us that every decision is for the health and stability of the club, is there any one out there with the financial nous to explain how these accounts compare to other Championship clubs whom are perceived to be in a financial mess eg: Derby, Reading, Sheffield Wednesday etc.?
Average wage = £14k per week, which equates to £57 per £100 income. I know this is a figure that Kieran Maguire normally quotes for other clubs and is usually way higher and often exceeds the £100 income. This is one area that PH has been banging on about and on paper, appears to be winning - although the resultant squad is paper thin!
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Deleted
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Post by Deleted on Jun 4, 2021 9:11:04 GMT 1
What is interesting is Note 27: it lists out the new repayment schedule to Dean:
Feb 22 - £4m
Feb 23 - £7m
Feb 24 - £7m
Feb 25 - £6m
Final payments of £4.5m and £5.5m dependent on certain trigger events.
£11m paid back last year.
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Post by dezzly on Jun 4, 2021 9:22:28 GMT 1
What is interesting is Note 27: it lists out the new repayment schedule to Dean: Feb 22 - £4m Feb 23 - £7m Feb 24 - £7m Feb 25 - £6m Final payments of £4.5m and £5.5m dependent on certain trigger events. £11m paid back last year. Am I right in thinking though that this may not be the state of play now as accounts technically a year behind? I literally have no clue with accounts or anything of that nature? |
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Post by stevvy on Jun 4, 2021 9:44:13 GMT 1
Correct. Also won't include any money from the sale of anyone sold after that date last year (eg Grant) and the associated lower wages due to some of the higher earners leaving (eg Grant, Mounie)
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Post by thrice on Jun 4, 2021 9:52:03 GMT 1
It will also not include the dramatically reduced income after that date last year.
You need to count the money out as well as in.
It is tragic, as always.
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Post by space hardware on Jun 4, 2021 9:59:02 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to???
Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated."
Who was the sponsor?
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Post by Deleted on Jun 4, 2021 10:08:10 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor?Got to be the company who became 'The official coconut water supplier to Huddersfield Town'. They threw a load of money across sports teams (did they sponsor Notts cricket?). Anyway, Town had them petitioned to be wound up as they weren't paying any fucker. |
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Post by jqhtfc on Jun 4, 2021 10:09:53 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor? I’m guessing the 80k a week is against the loan taken out against the parachute payments in the 2nd prem season |
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Post by space hardware on Jun 4, 2021 10:50:45 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor?Got to be the company who became 'The official coconut water supplier to Huddersfield Town'. They threw a load of money across sports teams (did they sponsor Notts cricket?). Anyway, Town had them petitioned to be wound up as they weren't paying any fucker. Ah, right. I half wondered whether it was Skint Phil's mob from the promotion season 😁 |
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Post by Deleted on Jun 4, 2021 10:54:59 GMT 1
Got to be the company who became 'The official coconut water supplier to Huddersfield Town'. They threw a load of money across sports teams (did they sponsor Notts cricket?). Anyway, Town had them petitioned to be wound up as they weren't paying any fucker. Ah, right. I half wondered whether it was Skint Phil's mob from the promotion season 😁 I may be wrong. It's just an educated guess. But paying £1m to be a small, Northern club's official coconut water supplier might just suggest why their business is so much in the shit. |
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Post by impact on Jun 4, 2021 10:55:27 GMT 1
Can anyone with better accounts knowledge than me work out how much Phil has put into the club? I see loans from related parties is 0, and I don't think any extra capital has been invested in shares, but I'm assuming it could be hidden elsewhere.
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Post by Deleted on Jun 4, 2021 11:02:13 GMT 1
Can anyone with better accounts knowledge than me work out how much Phil has put into the club? I see loans from related parties is 0, and I don't think any extra capital has been invested in shares, but I'm assuming it could be hidden elsewhere. I wondered if there might be some clues here: find-and-update.company-information.service.gov.uk/company/09680325/filing-historyThis entity is the official controlling shareholder. |
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Post by Deleted on Jun 4, 2021 11:16:48 GMT 1
Parachute payments reduced by £2.6m compared to expectation (looks like we received £44m, compared to £104m in final EPL season)
Objective is to "reduce the balance owing to Dean through a combination of player trading, operating cashflows and funding from Pure Sports Consultancy".
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Post by Frankiesleftpeg on Jun 4, 2021 12:15:43 GMT 1
Can anyone with better accounts knowledge than me work out how much Phil has put into the club? I see loans from related parties is 0, and I don't think any extra capital has been invested in shares, but I'm assuming it could be hidden elsewhere. I wondered if there might be some clues here: find-and-update.company-information.service.gov.uk/company/09680325/filing-historyThis entity is the official controlling shareholder. The accounts for year ending June 2020 haven't been filed yet but should make interesting reading when they are. |
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Post by Ginger Ogre on Jun 4, 2021 13:46:51 GMT 1
What is interesting is Note 27: it lists out the new repayment schedule to Dean: Feb 22 - £4m Feb 23 - £7m Feb 24 - £7m Feb 25 - £6m Final payments of £4.5m and £5.5m dependent on certain trigger events. £11m paid back last year. Am I right in thinking though that this may not be the state of play now as accounts technically a year behind? I literally have no clue with accounts or anything of that nature? That's right. Accounts show up 30 June 2020 so anything that's happened after that date won't be shown in what has been published. |
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incognito
Jimmy Nicholson Terrier
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Post by incognito on Jun 4, 2021 15:41:52 GMT 1
Can anyone with better accounts knowledge than me work out how much Phil has put into the club? I see loans from related parties is 0, and I don't think any extra capital has been invested in shares, but I'm assuming it could be hidden elsewhere. I wondered if there might be some clues here: find-and-update.company-information.service.gov.uk/company/09680325/filing-historyThis entity is the official controlling shareholder. This should finally reveal how much Phil paid for his 75% (I seem to remember him saying as much during his original takesthatchance interview) |
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Post by Gag N Bone Man on Jun 4, 2021 15:42:09 GMT 1
www.bbc.co.uk/sport/football/57358206Former Huddersfield owner Dean Hoyle has agreed to restructure the repayment of £34m he is owed by the club to help it through the coronavirus pandemic. The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League. Lifelong fan Hoyle had been owed £45m after his sale to businessman Phil Hodgkinson in May 2019. That debt has now been reduced to £34m. However, rather than having to pay all but £10m by 31 August 2022 as initially intended, the club's latest accounts confirm this date has now been extended to 28 February 2025. The first of four payments leading to the 2025 date is for £4m and is due on 28 February 2022. It is understood the loans are interest free. The final £10m will be repayable in two parts "on certain trigger events occurring". Hoyle remains a director of the club, in which he retains a 25% stake.
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Post by Rigodon on Jun 4, 2021 16:11:50 GMT 1
www.bbc.co.uk/sport/football/57358206Former Huddersfield owner Dean Hoyle has agreed to restructure the repayment of £34m he is owed by the club to help it through the coronavirus pandemic. The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League. Lifelong fan Hoyle had been owed £45m after his sale to businessman Phil Hodgkinson in May 2019. That debt has now been reduced to £34m. However, rather than having to pay all but £10m by 31 August 2022 as initially intended, the club's latest accounts confirm this date has now been extended to 28 February 2025. The first of four payments leading to the 2025 date is for £4m and is due on 28 February 2022. It is understood the loans are interest free. The final £10m will be repayable in two parts "on certain trigger events occurring". Hoyle remains a director of the club, in which he retains a 25% stake. Wow "The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League." So much for parachute payments... Gosh. We were 5mill a year subsidy from Dean prior to going up IIRC? Not quite the 'set for a few years' mentality we had by being in the PL anyone imagined, surely? What a coincidence this makes the news same time as the accounts are out. What on earth was Phil thinking taking it on under these conditions? Poor sod really lucked out with Covid then too..! :/ |
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Post by allan 1958 (OAF-WROY)(SSLFF) on Jun 4, 2021 17:56:32 GMT 1
What is interesting is Note 27: it lists out the new repayment schedule to Dean: Feb 22 - £4m Feb 23 - £7m Feb 24 - £7m Feb 25 - £6m Final payments of £4.5m and £5.5m dependent on certain trigger events. £11m paid back last year. Am I right in thinking though that this may not be the state of play now as accounts technically a year behind? I literally have no clue with accounts or anything of that nature? Post balance sheet event that impacts viability of the business |
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Post by impact on Jun 4, 2021 18:37:06 GMT 1
www.bbc.co.uk/sport/football/57358206Former Huddersfield owner Dean Hoyle has agreed to restructure the repayment of £34m he is owed by the club to help it through the coronavirus pandemic. The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League. Lifelong fan Hoyle had been owed £45m after his sale to businessman Phil Hodgkinson in May 2019. That debt has now been reduced to £34m. However, rather than having to pay all but £10m by 31 August 2022 as initially intended, the club's latest accounts confirm this date has now been extended to 28 February 2025. The first of four payments leading to the 2025 date is for £4m and is due on 28 February 2022. It is understood the loans are interest free. The final £10m will be repayable in two parts "on certain trigger events occurring". Hoyle remains a director of the club, in which he retains a 25% stake. Wow "The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League." So much for parachute payments... Gosh. We were 5mill a year subsidy from Dean prior to going up IIRC? Not quite the 'set for a few years' mentality we had by being in the PL anyone imagined, surely? What a coincidence this makes the news same time as the accounts are out. What on earth was Phil thinking taking it on under these conditions? Poor sod really lucked out with Covid then too..! :/ I wouldn't read much into the profit (or loss). There's that much accounting bollocks in there it doesn't really show a great deal. Don't quite get your point about the news coming out at the same time the accounts did though. It was in the news because it was in the accounts. |
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Post by Frankiesleftpeg on Jun 4, 2021 18:54:49 GMT 1
Wow "The Terriers reported a £8.2m pre-tax loss for the financial year to 30 June 2020, which covered their first year back in the Championship following relegation from the Premier League." So much for parachute payments... Gosh. We were 5mill a year subsidy from Dean prior to going up IIRC? Not quite the 'set for a few years' mentality we had by being in the PL anyone imagined, surely? What a coincidence this makes the news same time as the accounts are out. What on earth was Phil thinking taking it on under these conditions? Poor sod really lucked out with Covid then too..! :/ . There's that much accounting bollocks in there it doesn't really show a great deal. Don't quite get your point about the news coming out at the same time the accounts did though. It was in the news because it was in the accounts. Correct. The £28m player amortisation has played a big part in this. |
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Post by wetherbyterrier1972 on Jun 5, 2021 0:45:28 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor? Can’t see the rogue sponsor bit, what page is that? |
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Post by football on Jun 5, 2021 8:48:41 GMT 1
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Post by softboy on Jun 5, 2021 9:15:51 GMT 1
Given the bizzare world football lives in I think these results are completely acceptable. A loss is a loss but given the state of affairs at a number of big clubs, Wednesday and Derby for example they at least give us a fighting chance to grow and prosper. Look at Wednesday, don’t own ground, massive long term loans to fund, players not being paid and therefore can soon leave for nothing, season ticket holders waiting up to a year for refunds due to a new ticketing system etc etc. Cannot see anything but Administration for them anytime soon.
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Post by detox on Jun 5, 2021 10:50:28 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor? £37m bank loan at 11% ..£4m interest pa...£78k pw... |
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Post by dewsburyborn on Jun 5, 2021 17:01:49 GMT 1
£80k interest per week on loans! Who the fuck are we paying this to??? Also mentions this.... "Bad debt of over £1m in previous year due to rogue sponsor not repeated." Who was the sponsor? £37m bank loan at 11% ..£4m interest pa...£78k pw... Isn't that about what we were told the prospective overseas buyers would charge us on their loans for buying the club ? And to think Dean once bragged about us having had Middlesbrough's pants down |
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Post by cecerececerececere on Jun 6, 2021 7:33:31 GMT 1
£37m bank loan at 11% ..£4m interest pa...£78k pw... Isn't that about what we were told the prospective overseas buyers would charge us on their loans for buying the club ? And to think Dean once bragged about us having had Middlesbrough's pants down Yes, Hoyle didn't want to commit the club to paying "double-digit" interest on loans used to pay him out.....despite him already signing the club up to double-digit interest payments. Wierd innit? |
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Post by thomo on Jun 6, 2021 9:15:50 GMT 1
Aside to this didn’t Phil say in his recent interview that he wanted the club to be debt free by 2022?
So does that mean Dean will get all his money by next summer and the schedule of payments reported by the BBC is irrelevant now?
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crux
Jimmy Glazzard Terrier
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Post by crux on Jun 6, 2021 10:31:42 GMT 1
Aside to this didn’t Phil say in his recent interview that he wanted the club to be debt free by 2022? So does that mean Dean will get all his money by next summer and the schedule of payments reported by the BBC is irrelevant now? I think he said something along those lines, but I think it included 'debt free to former owners'. Where Phil gets the money from to repay Dean, I don't know. I understand Phil has sold one of his businesses for a reasonable amount, but not enough to cover all the debts. Unless we can get someone to match what Villa have just paid for a championship midfield player when we sell O'Brien, then he still looks a bit short of covering all the debts. |
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Exciting times:
