AFC Bournemouth: Cherries post £15million losses

CHAIRMAN: Jeff Mostyn

CHAIRMAN: Jeff Mostyn

First published in Sport
Last updated
by

CHERRIES recorded losses of more than £15million for the financial year to the end of July 2013, the club’s latest accounts have revealed.

AFC Bournemouth Limited’s annual shortfall increased from £3,449,262 to £15,323,865 in the period covering their final season in League One and the summer leading up to their first season back in the Championship.

The gap was plugged through the allocation of £7.4million worth of Preference shares and a loan of £8,749,167 from AFCB Enterprises Limited, the club’s parent company, controlled by Cherries owner Maxim Demin.

That borrowing saw Cherries’ net debt exceed £15.5million, though more than that is owed to companies controlled by Demin with the three-year term for his first loan of £7,527,000 from Wintel Petrochemicals set to expire on October 5 this year.

The club’s turnover increased by more than £1million to £5,183,122 but a 16.3 per cent decrease in profit margin was reported due to a spike in the costs of sale.

Overall costs for wages and salaries were declared as £10,996,137 – an increase of more than £7million from the previous year – while the club spent £3,240,109 on player transactions after July 31, a sum which will be accounted for in next year’s figures.

Reviewing the company’s business, the published directors’ report read: “Football wages continue to be the highest expense for the club, being the main contributing factor to the significant increase in administrative expenses for the year.”

It continued: “The club’s future strategy is to become sustainable and forward-looking, implementing strategy that minimises both risk and exposure.

“One of the key risks affecting the company is the achievement of playing success in order to maintain the club’s Championship status. The company seeks to reduce this risk through continued focus on playing staff and team management.”

It added: “To develop the club’s financial stability, the directors have focused on operational efficiencies to maximise cash flow and investment.

“In addition, the company has introduced improved budgeting techniques for the forthcoming season to further its plans to become less reliant on external financing.”

The Daily Echo is expecting a comment from Cherries chairman Jeff Mostyn in relation to the club’s accounts tomorrow.

Comments (48)

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6:59pm Tue 29 Apr 14

afcb-mark says...

Ooops.
Ooops. afcb-mark
  • Score: 7

7:08pm Tue 29 Apr 14

lionheart says...

Where would we be without Max Demin. We are certainly indebted to him for keeping the show on the road. Hold tight to the rollercoaster and enjoy the ride.
Where would we be without Max Demin. We are certainly indebted to him for keeping the show on the road. Hold tight to the rollercoaster and enjoy the ride. lionheart
  • Score: 16

7:36pm Tue 29 Apr 14

redster says...

A frightening headline that would have had us sunk a few years ago! I see the loans etc neatly cancel out the debts. So a lot is down to Mr demin who I believe has other people in the background. With the team we have and the currant management we will grow and increase revenue.
t
A frightening headline that would have had us sunk a few years ago! I see the loans etc neatly cancel out the debts. So a lot is down to Mr demin who I believe has other people in the background. With the team we have and the currant management we will grow and increase revenue. t redster
  • Score: 9

7:42pm Tue 29 Apr 14

boyerboy says...

We all knew it was going to be ouch....but OUCH.....and 2013/4 still to come.......
We all knew it was going to be ouch....but OUCH.....and 2013/4 still to come....... boyerboy
  • Score: 2

7:50pm Tue 29 Apr 14

TedMacsCherryPants says...

OUCH! Scary headline!
I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by.
OUCH! Scary headline! I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by. TedMacsCherryPants
  • Score: 3

8:18pm Tue 29 Apr 14

Solentcherry says...

The price of success.
Still, 5 million lallana windfall plus 5 million for Grabban this summer, Sorted !!
The price of success. Still, 5 million lallana windfall plus 5 million for Grabban this summer, Sorted !! Solentcherry
  • Score: 0

8:27pm Tue 29 Apr 14

fishybc says...

Have to speculate to accumulate. This year will see an increase in football league funds as well as TV money due to championship status. I think the chairman knows where the big money/profits are.Onwards and upwards.
Have to speculate to accumulate. This year will see an increase in football league funds as well as TV money due to championship status. I think the chairman knows where the big money/profits are.Onwards and upwards. fishybc
  • Score: 13

8:46pm Tue 29 Apr 14

duke bingo says...

Anyone know where the wheelie bins are?
Anyone know where the wheelie bins are? duke bingo
  • Score: 3

9:06pm Tue 29 Apr 14

STEADY EDDIE 1 for the road says...

TedMacsCherryPants wrote:
OUCH! Scary headline!
I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by.
Troll patrol.....I will cover the night watch.!!!
[quote][p][bold]TedMacsCherryPants[/bold] wrote: OUCH! Scary headline! I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by.[/p][/quote]Troll patrol.....I will cover the night watch.!!! STEADY EDDIE 1 for the road
  • Score: 2

9:15pm Tue 29 Apr 14

TedMacsCherryPants says...

STEADY EDDIE 1 for the road wrote:
TedMacsCherryPants wrote:
OUCH! Scary headline!
I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by.
Troll patrol.....I will cover the night watch.!!!
I'll take the dawn patrol....they will NOT pass!!!!!!!
[quote][p][bold]STEADY EDDIE 1 for the road[/bold] wrote: [quote][p][bold]TedMacsCherryPants[/bold] wrote: OUCH! Scary headline! I'm surprised the trolls aren't out of their caves already, guess they will be soon. Coops & Steady Eddie stand-by.[/p][/quote]Troll patrol.....I will cover the night watch.!!![/p][/quote]I'll take the dawn patrol....they will NOT pass!!!!!!! TedMacsCherryPants
  • Score: -3

9:18pm Tue 29 Apr 14

canfordcherry says...

Who was in charge of spending Max's money during this period?.............

His name escapes me, and his son's name as well................

I'm sure it will come back to me shortly!
Who was in charge of spending Max's money during this period?............. His name escapes me, and his son's name as well................ I'm sure it will come back to me shortly! canfordcherry
  • Score: 5

9:52pm Tue 29 Apr 14

mark.s says...

canfordcherry wrote:
Who was in charge of spending Max's money during this period?.............


His name escapes me, and his son's name as well................


I'm sure it will come back to me shortly!
Hehe.

Anyway, that Lallana money could come in handy...

We all knew to expect these sorts of scare mongering headlines, when you get a figure like Demin on board. The devil is in the detail, such as the several million converted to share equity.
[quote][p][bold]canfordcherry[/bold] wrote: Who was in charge of spending Max's money during this period?............. His name escapes me, and his son's name as well................ I'm sure it will come back to me shortly![/p][/quote]Hehe. Anyway, that Lallana money could come in handy... We all knew to expect these sorts of scare mongering headlines, when you get a figure like Demin on board. The devil is in the detail, such as the several million converted to share equity. mark.s
  • Score: 8

10:12pm Tue 29 Apr 14

raybren says...

We will have to keep an eye on Obama as he increases sanctions on Russian interests !
We will have to keep an eye on Obama as he increases sanctions on Russian interests ! raybren
  • Score: 2

10:28pm Tue 29 Apr 14

cheeriedriteup says...

canfordcherry wrote:
Who was in charge of spending Max's money during this period?.............


His name escapes me, and his son's name as well................


I'm sure it will come back to me shortly!
Spot on, I have been saying ' wait for the year end accounts ' Mitchell had took out massive loans in the clubs name, there is a big reason why he is no longer there,
[quote][p][bold]canfordcherry[/bold] wrote: Who was in charge of spending Max's money during this period?............. His name escapes me, and his son's name as well................ I'm sure it will come back to me shortly![/p][/quote]Spot on, I have been saying ' wait for the year end accounts ' Mitchell had took out massive loans in the clubs name, there is a big reason why he is no longer there, cheeriedriteup
  • Score: 3

10:32pm Tue 29 Apr 14

BIGTONE says...

Who's got the biggest house?
Who's got the biggest house? BIGTONE
  • Score: -2

10:41pm Tue 29 Apr 14

Afcbpete says...

Nothing to worry about, Maxim's spare change will cover it!!!
Nothing to worry about, Maxim's spare change will cover it!!! Afcbpete
  • Score: 6

6:01am Wed 30 Apr 14

ASM says...

i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players.
I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million.
i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players. I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million. ASM
  • Score: 8

6:25am Wed 30 Apr 14

TedMacsCherryPants says...

ASM wrote:
i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players.
I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million.
Mostly agree but everyone has their price. Losing Grabbs in January woulld have interrupted our campaign more than losing him now when we have time to source a replacement. That said in an ideal world it would be great to keep the team together.
[quote][p][bold]ASM[/bold] wrote: i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players. I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million.[/p][/quote]Mostly agree but everyone has their price. Losing Grabbs in January woulld have interrupted our campaign more than losing him now when we have time to source a replacement. That said in an ideal world it would be great to keep the team together. TedMacsCherryPants
  • Score: 11

8:37am Wed 30 Apr 14

4stands says...

Dont worry people Matty Holland is coming back with his bucket
Dont worry people Matty Holland is coming back with his bucket 4stands
  • Score: 5

8:37am Wed 30 Apr 14

AFCBScarl says...

Nothing to worry about here, this report suggests that the wage bill is the main concern yet we have a squad of around 30.
Cut the dead wood loose and keep a solid nucleus of the team.
Pitman, Tubbs, Mcquoid, Purches, Flahaven.
I bet Atleast 2 of these are on a big wage packet and really are not needed pitman is useless and the others won't get a chance in the championship.
Nothing to worry about here, this report suggests that the wage bill is the main concern yet we have a squad of around 30. Cut the dead wood loose and keep a solid nucleus of the team. Pitman, Tubbs, Mcquoid, Purches, Flahaven. I bet Atleast 2 of these are on a big wage packet and really are not needed pitman is useless and the others won't get a chance in the championship. AFCBScarl
  • Score: -4

9:05am Wed 30 Apr 14

Afcbpete says...

People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD Afcbpete
  • Score: 15

10:12am Wed 30 Apr 14

Square Old Codger says...

Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours..
[quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours.. Square Old Codger
  • Score: 5

10:25am Wed 30 Apr 14

devon fan says...

there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad
there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad devon fan
  • Score: 4

10:35am Wed 30 Apr 14

lofty1971 says...

Explains why a certain person and his cronies were ousted from the board....
Explains why a certain person and his cronies were ousted from the board.... lofty1971
  • Score: 2

11:13am Wed 30 Apr 14

devon fan says...

Square Old Codger wrote:
Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours..
what you say makes good sense, but am I wrong in thinking we are still in breach of the fair play rules in which case could have an embargo placed upon us
[quote][p][bold]Square Old Codger[/bold] wrote: [quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours..[/p][/quote]what you say makes good sense, but am I wrong in thinking we are still in breach of the fair play rules in which case could have an embargo placed upon us devon fan
  • Score: 3

11:25am Wed 30 Apr 14

Tuckton Cherry says...

Scarey headline, but actually is it that bad? The assets at the club, Grabs, Cookie, Ryan Frazer, Ritchie would all make a massive profit. Francis, Daniels and Arter like the above would create interest at the highest level in the Championship, if not Prem. So worst case and Max wants away we arent in the same boat as Pompey or us under Harry last time round. Yes we'd sink to league 1 but we wouldn't be bankrupt. That wont happen, he is eying the £50 - £100m in the premiership after all that's a bigger return than he'd get from the bank. Everything points to this just being the start of our new dawn, the foundations are there, success is dependent on our investors, but our survival isn't
Scarey headline, but actually is it that bad? The assets at the club, Grabs, Cookie, Ryan Frazer, Ritchie would all make a massive profit. Francis, Daniels and Arter like the above would create interest at the highest level in the Championship, if not Prem. So worst case and Max wants away we arent in the same boat as Pompey or us under Harry last time round. Yes we'd sink to league 1 but we wouldn't be bankrupt. That wont happen, he is eying the £50 - £100m in the premiership after all that's a bigger return than he'd get from the bank. Everything points to this just being the start of our new dawn, the foundations are there, success is dependent on our investors, but our survival isn't Tuckton Cherry
  • Score: 9

11:42am Wed 30 Apr 14

a real supporter says...

devon fan wrote:
there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad
The Financial Fair Play rules are a joke! Have a look at what is happening at Man City & PSG. The last thing we should be concerned about is the fair play rules there are lots of clubs before you get to AFCB i.e. QPR & Leicester. Relax and enjoy the ride UTCIAD
[quote][p][bold]devon fan[/bold] wrote: there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad[/p][/quote]The Financial Fair Play rules are a joke! Have a look at what is happening at Man City & PSG. The last thing we should be concerned about is the fair play rules there are lots of clubs before you get to AFCB i.e. QPR & Leicester. Relax and enjoy the ride UTCIAD a real supporter
  • Score: 2

12:09pm Wed 30 Apr 14

swanagecherrie says...

Sanctions for exceeding Financial Fair Play do not apply for 2011/12 and 2012/13. According to Neil Perrett via twitter. I'm not sure there to confusing to me .
Sanctions for exceeding Financial Fair Play do not apply for 2011/12 and 2012/13. According to Neil Perrett via twitter. I'm not sure there to confusing to me . swanagecherrie
  • Score: 2

12:14pm Wed 30 Apr 14

Afcbpete says...

Square Old Codger wrote:
Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours..
It also proves to me at least, that had Maxim not come on board, this club, under Mitchell, would of been sunk without trace, something a few just couldn't take on board. Any way, much happier times, we can put all that to bed now, as we have so much to look forward too!!! UTCIAD
[quote][p][bold]Square Old Codger[/bold] wrote: [quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]I am inclined to agree with you, these accounts represent the final period under the wasteful Eddie Mitchell and much has changed in the months following his departure, not the least in that tight financial controls are now exercised and all expenditure is monitored and controlled. Revenues too have increased and with the planned ground expansion and the "pruning" of the over blown squad Eddie inherited (not yet complete) wages will be better in balance. It's all work in progress and we , as supporters, must be very grateful to Max Demin and his fellow "investors" for all they have done for the Club and plan to do. The Summer will be interesting, I expect at least 8 players to go with 2/3 quality players coming in, hopefully too, we will see a couple of young players coming through the Youth System. We have to match the Saints in producing and developing young talent, the only real way forward for Club's like ours..[/p][/quote]It also proves to me at least, that had Maxim not come on board, this club, under Mitchell, would of been sunk without trace, something a few just couldn't take on board. Any way, much happier times, we can put all that to bed now, as we have so much to look forward too!!! UTCIAD Afcbpete
  • Score: -2

12:29pm Wed 30 Apr 14

SympatheticSam says...

Hope they go bust.
Hope they go bust. SympatheticSam
  • Score: -9

12:54pm Wed 30 Apr 14

Blackandred says...

FFP rules for Championship clubs - maximum loss for 2013-14 is to be no more than £8 million. Penalties to include transfer embargo and fine for clubs that are promoted to the Premer Leaue. Penalties to be applied from December 2014.

Simples.
FFP rules for Championship clubs - maximum loss for 2013-14 is to be no more than £8 million. Penalties to include transfer embargo and fine for clubs that are promoted to the Premer Leaue. Penalties to be applied from December 2014. Simples. Blackandred
  • Score: 3

1:08pm Wed 30 Apr 14

bobsworthforever says...

If we are serious about the Premiership then these figures are peanuts as has already been said the FFP rules don't apply till December 2014. We need to see the details of where the money has been spent although Mitchells excesses seem to be being eradicated.
If we are serious about the Premiership then these figures are peanuts as has already been said the FFP rules don't apply till December 2014. We need to see the details of where the money has been spent although Mitchells excesses seem to be being eradicated. bobsworthforever
  • Score: 2

1:10pm Wed 30 Apr 14

Wilkie says...

Let's be honest, it's unikely that the club itself could generate sufficent income to meet our outgoings in the Championship. We have to assume that Maxim is happy to write money off into the club on the basis that it is his plaything (others commission vast Sunseeker yachts). Quite what the mechanism for wrtiting this money off is to avoid falling foul of FFP, we will have to wait and see. After all, if Maxims net worth is £1 million, then chipping in £5 million a year by way of inflated sponsorship or other is broadly equivilent to the proportion of average houseowner net worth amongst our supprters that many spend on their season tickets
Let's be honest, it's unikely that the club itself could generate sufficent income to meet our outgoings in the Championship. We have to assume that Maxim is happy to write money off into the club on the basis that it is his plaything (others commission vast Sunseeker yachts). Quite what the mechanism for wrtiting this money off is to avoid falling foul of FFP, we will have to wait and see. After all, if Maxims net worth is £1 million, then chipping in £5 million a year by way of inflated sponsorship or other is broadly equivilent to the proportion of average houseowner net worth amongst our supprters that many spend on their season tickets Wilkie
  • Score: 0

1:12pm Wed 30 Apr 14

Wilkie says...

Meant to quote £1 billion for Maxim's net worth in last post.
Meant to quote £1 billion for Maxim's net worth in last post. Wilkie
  • Score: 2

1:42pm Wed 30 Apr 14

TedMacsCherryPants says...

Wilkie wrote:
Meant to quote £1 billion for Maxim's net worth in last post.
PHEW! That's a relief, I thought we were gone for a minute!
[quote][p][bold]Wilkie[/bold] wrote: Meant to quote £1 billion for Maxim's net worth in last post.[/p][/quote]PHEW! That's a relief, I thought we were gone for a minute! TedMacsCherryPants
  • Score: 1

1:44pm Wed 30 Apr 14

devon fan says...

a real supporter wrote:
devon fan wrote:
there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad
The Financial Fair Play rules are a joke! Have a look at what is happening at Man City & PSG. The last thing we should be concerned about is the fair play rules there are lots of clubs before you get to AFCB i.e. QPR & Leicester. Relax and enjoy the ride UTCIAD
I agree they are a joke but when these rules are applied , it is the big clubs who will find a way around them, and the smaller clubs like AFCBwho will be hit the hardest jjust so the League can show it is doing its best to enforce them
[quote][p][bold]a real supporter[/bold] wrote: [quote][p][bold]devon fan[/bold] wrote: there is always a price to pay in gaining success, and I trust that when Jeff Mostyn makes his statement he is able to put our minds at rest, it would be interesting to know what the Auditors forcast for the future of the club is, also the important thing to remember is that we must be breakuing the Fair Play Rules, this would surely mean a restriction on us being able to buy the players we might want to improve the squad[/p][/quote]The Financial Fair Play rules are a joke! Have a look at what is happening at Man City & PSG. The last thing we should be concerned about is the fair play rules there are lots of clubs before you get to AFCB i.e. QPR & Leicester. Relax and enjoy the ride UTCIAD[/p][/quote]I agree they are a joke but when these rules are applied , it is the big clubs who will find a way around them, and the smaller clubs like AFCBwho will be hit the hardest jjust so the League can show it is doing its best to enforce them devon fan
  • Score: 0

2:13pm Wed 30 Apr 14

coops1965cherry says...

TedMacsCherryPants wrote:
Wilkie wrote:
Meant to quote £1 billion for Maxim's net worth in last post.
PHEW! That's a relief, I thought we were gone for a minute!
Hey there Ted, that's about normal these days for a championship club in its first transition period !

As long as Uncle Max is around we will be fine and the sooner we move or rebuild the stadium the sooner we can become self sustaining.

Let's be clear about this, as far as I know Arsenal are the only club in Europe that operate with a profit, yes a genuine self sustained self earned profit !

Last year Man Utd posted a loss of £780 million and so did most of the other premier league clubs, what we lost as an operating loss is genuinely manageable as long as the crowds are sustained and we remain in this division.

However, this must only be a short term thing and eventually we must move forward to self sufficiency but that will only happen with a bigger more flexible stadium and sporting facility.

Anyone that thinks we can survive or move forward without some operating debt is living in the past.

U T C I A D.
[quote][p][bold]TedMacsCherryPants[/bold] wrote: [quote][p][bold]Wilkie[/bold] wrote: Meant to quote £1 billion for Maxim's net worth in last post.[/p][/quote]PHEW! That's a relief, I thought we were gone for a minute![/p][/quote]Hey there Ted, that's about normal these days for a championship club in its first transition period ! As long as Uncle Max is around we will be fine and the sooner we move or rebuild the stadium the sooner we can become self sustaining. Let's be clear about this, as far as I know Arsenal are the only club in Europe that operate with a profit, yes a genuine self sustained self earned profit ! Last year Man Utd posted a loss of £780 million and so did most of the other premier league clubs, what we lost as an operating loss is genuinely manageable as long as the crowds are sustained and we remain in this division. However, this must only be a short term thing and eventually we must move forward to self sufficiency but that will only happen with a bigger more flexible stadium and sporting facility. Anyone that thinks we can survive or move forward without some operating debt is living in the past. U T C I A D. coops1965cherry
  • Score: 4

2:15pm Wed 30 Apr 14

coops1965cherry says...

SympatheticSam wrote:
Hope they go bust.
Tw*t scumpathetic ham. back in your cave you di*k
[quote][p][bold]SympatheticSam[/bold] wrote: Hope they go bust.[/p][/quote]Tw*t scumpathetic ham. back in your cave you di*k coops1965cherry
  • Score: 2

2:18pm Wed 30 Apr 14

coops1965cherry says...

Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
Thank god for common sense, totally agree with all of that.

They have got to sell newspapers though havent they ?

U T C I A D.
[quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]Thank god for common sense, totally agree with all of that. They have got to sell newspapers though havent they ? U T C I A D. coops1965cherry
  • Score: 1

3:03pm Wed 30 Apr 14

Steveo123 says...

Mostyn, looks quite happy with the 15 Mill loss announcement,,, I wonder what he earns..
Mostyn, looks quite happy with the 15 Mill loss announcement,,, I wonder what he earns.. Steveo123
  • Score: 2

3:32pm Wed 30 Apr 14

Rotterdam says...

Steveo123 wrote:
Mostyn, looks quite happy with the 15 Mill loss announcement,,, I wonder what he earns..
heh heh they changed the picture since you wrote that !
[quote][p][bold]Steveo123[/bold] wrote: Mostyn, looks quite happy with the 15 Mill loss announcement,,, I wonder what he earns..[/p][/quote]heh heh they changed the picture since you wrote that ! Rotterdam
  • Score: 2

4:25pm Wed 30 Apr 14

coops1965cherry says...

TedMacsCherryPants wrote:
ASM wrote:
i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players.
I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million.
Mostly agree but everyone has their price. Losing Grabbs in January woulld have interrupted our campaign more than losing him now when we have time to source a replacement. That said in an ideal world it would be great to keep the team together.
Evening troll patrol checking in, nothing to report as yet !

Gunner Ted and Sniper Eddy,keep them peeled lads.

Wait until you see the whites of those squinty little furry eyes.

U T C I A D.
[quote][p][bold]TedMacsCherryPants[/bold] wrote: [quote][p][bold]ASM[/bold] wrote: i am just a little bit worried about this headline coming the day after the headline of big clubs coming in for our players. I am not worried and nor should anyone be. Remember the ambition shown already by Denim, to sign all these players and hold onto grabban even when brighton were bidding 1.1 million.[/p][/quote]Mostly agree but everyone has their price. Losing Grabbs in January woulld have interrupted our campaign more than losing him now when we have time to source a replacement. That said in an ideal world it would be great to keep the team together.[/p][/quote]Evening troll patrol checking in, nothing to report as yet ! Gunner Ted and Sniper Eddy,keep them peeled lads. Wait until you see the whites of those squinty little furry eyes. U T C I A D. coops1965cherry
  • Score: 0

4:26pm Wed 30 Apr 14

golfer33 says...

Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
Lets hope the train driver doesnt go on strike.
[quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]Lets hope the train driver doesnt go on strike. golfer33
  • Score: 2

5:29pm Wed 30 Apr 14

Afcbpete says...

golfer33 wrote:
Afcbpete wrote:
People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD
Lets hope the train driver doesnt go on strike.
No chance of that, he owns the track and the rolling stock!!!
[quote][p][bold]golfer33[/bold] wrote: [quote][p][bold]Afcbpete[/bold] wrote: People need to remember, this is LAST season. The squad was vast, gates (until Eddie came back) were quite low, fans were thoroughly fed up, and not wanting to spend money at the club, putting it in Mitchell's pocket, as most felt that they were doing. What a huge difference now!!! Yes, wages will of risen sharply, but there is still plenty of deadwood to move on. Fans will have high expectations next season, gates will be pushed to over 10,000 at least. Maxim has his plans for the ground as well. I don't see a few million bothering him, he can see what a fantastic job is being done throughout the club, and his goal of Premiership football is ever nearer. Whether we ever achieve that we'll have to wait and see, I'm just thoroughly enjoying the ride. It used to be a roller coaster, because we were always so up and down, now it's more likened to a train hurtling towards it's destination!!! UTCIAD[/p][/quote]Lets hope the train driver doesnt go on strike.[/p][/quote]No chance of that, he owns the track and the rolling stock!!! Afcbpete
  • Score: -1

6:12pm Wed 30 Apr 14

SympatheticSam says...

coops1965cherry wrote:
SympatheticSam wrote:
Hope they go bust.
Tw*t scumpathetic ham. back in your cave you di*k
Ooooh, touched a nerve? Just being Mystic Meg. They will go bust. Top heavy always comes crashing down. TIMBERRRRRRRRR
[quote][p][bold]coops1965cherry[/bold] wrote: [quote][p][bold]SympatheticSam[/bold] wrote: Hope they go bust.[/p][/quote]Tw*t scumpathetic ham. back in your cave you di*k[/p][/quote]Ooooh, touched a nerve? Just being Mystic Meg. They will go bust. Top heavy always comes crashing down. TIMBERRRRRRRRR SympatheticSam
  • Score: -3

8:31pm Wed 30 Apr 14

cromwell9 says...

Pity we had that ROOKIE goal keeper ,for the first ten matches.he cost the club at least 9/10 points ,with his very limited exsperiance in football,
Eddie put him in goal in the CHAMPIONSHIP.I doubt if he would of got in the Poole Town team.
Yes we have had a fantastic season,One we will always remember.
Yes Eddie Howe is the best manager that AFCB will ever have,
And one day he will be the ENGLAND manager.
But he has to admit putting ALLSOP in goal was a huge mistake ,when he had Flahaven etc sitting on the bench ,Proven keepers,
I think it has cost AFCB a place in the play offs,And £109 million ,iff we had made it to the Premiership.
Now we have a £15 million loss .I hope our Russion backers dont take fright ,and run ( exspecialy with this UKRAINE going on ).
Pity we had that ROOKIE goal keeper ,for the first ten matches.he cost the club at least 9/10 points ,with his very limited exsperiance in football, Eddie put him in goal in the CHAMPIONSHIP.I doubt if he would of got in the Poole Town team. Yes we have had a fantastic season,One we will always remember. Yes Eddie Howe is the best manager that AFCB will ever have, And one day he will be the ENGLAND manager. But he has to admit putting ALLSOP in goal was a huge mistake ,when he had Flahaven etc sitting on the bench ,Proven keepers, I think it has cost AFCB a place in the play offs,And £109 million ,iff we had made it to the Premiership. Now we have a £15 million loss .I hope our Russion backers dont take fright ,and run ( exspecialy with this UKRAINE going on ). cromwell9
  • Score: -6

10:40am Thu 1 May 14

devon fan says...

having just seen the fair play rules quite clearly explained, it would appear that accounts for the current season have to be sent to the league by December 1st 2014 if we do not comply with the rules we will be hit with an embargo
having just seen the fair play rules quite clearly explained, it would appear that accounts for the current season have to be sent to the league by December 1st 2014 if we do not comply with the rules we will be hit with an embargo devon fan
  • Score: 2

7:27pm Thu 1 May 14

Bob49 says...

All the hallmarkas of another Portsmouth, and the fans couldn't see it coming there either.

Another round of blanket collections looms
All the hallmarkas of another Portsmouth, and the fans couldn't see it coming there either. Another round of blanket collections looms Bob49
  • Score: 1

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