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Post by hhsussex on Dec 8, 2016 13:14:13 GMT
For once, a Tweet from Lizzie Ammon that hits the spot: Making county cricket finances look like loose change down the back of the sofa.... BBC Sport Verified account @bbcsport Brighton & Hove Albion have announced a loss of £25.9m for the financial year to the end of 2015-16 www.bbc.co.uk/sport/football/38251262On edit: And a staggering quote in that story "Brighton say they remain compliant with Financial Fair Play (FFP) regulations, which permit a club's losses to reach an aggregate of £39m over a three-season period." |
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Post by Wicked Cricket on Dec 9, 2016 12:56:46 GMT
lb, Relegation
Our worst season on the field for 16 years
Declining membership numbers
Shrinking cricket budgets
No profit An alternative viewRelegation: Due to Mark Robinson Worst Season for 16 years: Mark Robinson's Legacy Declining membership numbers: Fed up with Mark Robinson Shrinking cricket budgets: Mark Robinson's signings of Shahzad and Mills No profit: Mark Robinson's wages.  You can view it anyway you like! |
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Post by flashblade on Dec 9, 2016 13:42:45 GMT
lb, Relegation
Our worst season on the field for 16 years
Declining membership numbers
Shrinking cricket budgets
No profit An alternative viewRelegation: Due to Mark Robinson Worst Season for 16 years: Mark Robinson's Legacy Declining membership numbers: Fed up with Mark Robinson Shrinking cricket budgets: Mark Robinson's signings of Shahzad and Mills No profit: Mark Robinson's wages. You can view it anyway you like! OK, but we have to ask who should have removed Mark Robinson much sooner. Who was responsible for allowing his tenure to drift - on and on . . ? |
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Dec 9, 2016 13:47:06 GMT
I blame Spen Cama for not leaving the club enough money.
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Post by Wicked Cricket on Feb 7, 2017 17:10:58 GMT
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Post by hhsussex on Mar 2, 2017 14:23:38 GMT
A slightly confusing report on the Sussex Cricket accounts posted on the club website today www.sussexcricket.co.uk/news-1/accounts-sussex-reports-small-operating-profitIt isn't clear what is being declared. The piece starts by talking about a £1K opertaing profit, then a deficit after depreciation and tax of £488K, then Jim May is quoted as saying "We are forecasting a surplus after depreciation in the current financial year aided by a one-off distribution from the ECB." Obviously these figures won't compare like for like with the Sussex CCC accounts for 2015 because this year's includes the combined assets and liabilities of Sussex CCC and the former Sussex Cricket Board. Perhaps when members receive the full financial statements for the year we can delved into what is really going on, but there is a further mystification, in the light of softandfluffy's revelations about catering ( unofficialsussexccc.freeforums.net/post/23663/thread et seq) in this paragraph: "The combined turnover of £6.5m showed a decline in match income but a strong performance in commercial income. Since The 1st Central County Ground was redeveloped in 2011, net revenues for catering, events and rental income has increased by some £500k per annum." If the performance was so good, why hive it off to Centerplate? Or was the catering a big loss maker but the rents and events have been winners? Many more questions than answers. |
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Post by flashblade on Mar 2, 2017 15:59:37 GMT
A slightly confusing report on the Sussex Cricket accounts posted on the club website today www.sussexcricket.co.uk/news-1/accounts-sussex-reports-small-operating-profitIt isn't clear what is being declared. The piece starts by talking about a £1K opertaing profit, then a deficit after depreciation and tax of £488K, then Jim May is quoted as saying "We are forecasting a surplus after depreciation in the current financial year aided by a one-off distribution from the ECB." Obviously these figures won't compare like for like with the Sussex CCC accounts for 2015 because this year's includes the combined assets and liabilities of Sussex CCC and the former Sussex Cricket Board. Perhaps when members receive the full financial statements for the year we can delved into what is really going on, but there is a further mystification, in the light of softandfluffy's revelations about catering ( unofficialsussexccc.freeforums.net/post/23663/thread et seq) in this paragraph: "The combined turnover of £6.5m showed a decline in match income but a strong performance in commercial income. Since The 1st Central County Ground was redeveloped in 2011, net revenues for catering, events and rental income has increased by some £500k per annum." If the performance was so good, why hive it off to Centerplate? Or was the catering a big loss maker but the rents and events have been winners? Many more questions than answers. Too true! These half baked financial announcements can be very misleading (not deliberately, you understand). I look forward to reading the accounts when they are published - let's take a look at the real numbers. |
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Post by Wicked Cricket on Mar 2, 2017 16:55:25 GMT
This sentence interests me: We are forecasting a surplus after depreciation in the current financial year aided by a one-off distribution from the ECB.I remember writing a piece for Spin-Off Cricket back in 2012 - in the days when Lizzy Ammon was their deputy editor - and each county were given a bonus of around £300k that year for being 'good boys'. This helped many of the smaller clubs gain a magical profit that year much to the surprise of onlookers. Sussex were one of only two counties to mention this lottery win in their accounts! Instead, the other county hierarchy were accoladed with 'good business acumen' plaudits by unsuspecting media and supporters. Has the same thing happened again, I wonder? |
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Post by hhsussex on Mar 3, 2017 11:50:06 GMT
Here we go again. Northants website has an article talking about their financial situation showing "...strong signs of recovery ...in line with the forecasts stated by the Board of Directors" www.northantscricket.com/club/news/posts/2017/march/2016-financial-year-end-statement/ "EBITDA showed a profit of £230,840 compared to a profit of £18,807 in 2015. " However the all-important link to the full Financial Report tells a different story www.northantscricket.com/media/3188/northamptonshire-county-cricket-club-limited-2016-final-nbp-accounts.pdf "The loss for the year, after taxation, amounted to £182,119 (2015 - loss £391,304)." As it happens, Northants have made some big savings. Interestingly they actually increased their total staff by 25% over the previous year, yet managed to reduce staff costs by £120K. They've also increased turnover by more than £100K. Maddeningly, although they break down staff costs by type (players, coaches, catering and other) they don't show their revenues in the same way so it isn't possible to see if these extra, lower-paid people have made more money for them by attendances or by catering and hospitality. I'd be inclined to suspect the latter as the catering staff numbers increased from an average of 69 to 89. |
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A.S.
2nd XI player
Posts: 60
County club member: Kent
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Post by A.S. on Mar 3, 2017 14:18:14 GMT
Pity poor Yorkshire CCC, or maybe the Council Taxpayers of Leeds, with the report in The Times today that YCCC are looking to Leeds City Council for financial assistance in the planned £38m redevelopment of Headingley; or else (no international cricket or city franchise). With an outstanding debt to Colin Graves' Family Interests of c £22m, YCCC looks just the place to invest surplus public money. [And lest accused of hypocrisy regarding KCCC's borrowing from Canterbury City Council, the Club Accounts just published show a continuing, and soon to be speedier, reduction in that indebtedness to about £3.3m]. |
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Post by coverpoint on Mar 3, 2017 17:11:43 GMT
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Post by hhsussex on Mar 3, 2017 17:24:37 GMT
Unfortunately your link (? to a .pdf download) is not working so can't really see the point you're making. |
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nemmo
Captain 2nd XI
Posts: 285
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Post by nemmo on Mar 3, 2017 18:24:11 GMT
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Post by coverpoint on Mar 3, 2017 18:43:35 GMT
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Post by hhsussex on Mar 3, 2017 20:59:52 GMT
Accepting the points you made about the use of Word and the failure to adequately assign Notes in the correct order, it is actually a far better and more realistic statement of the health and prospects of the business than either of the relevant county cricket club press releases and/or formal accounts reports that have been discussed here recently.
The statements of risk management are brief but at least recognise the nature of the operating enviroment, whereas the county cricket clubs appear to float above these earthly constraints. It is also good to see that EBITDA is reduced to it's proper level as "...a key performance indicator of the business, being total operating profit before depreciation..." That's what it is, a KPI, not a headline result.
Perhaps you should advise the body responsible for your CPD about the appalling standards used by the county cricket clubs and their auditors in their statements to their shareholders.
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