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Birmingham City recently published their 2016/17 financial results, the first under the ownership of Trillion Trophy Asia (TTA), owned by Chinese businessman Paul Suen Cho Hung, and they did not paint a pretty picture. Some thoughts in the following thread #BCFC
The #BCFC wage bill surged 47% (£7.2m) from £15.3m to £22.5m in 2016/17 with playing staff up 30 to 94. Also included severance payments to managers and possible bonus payment to Redknapp for avoiding relegation. This has increased the wages to turnover ratio from 104% to 128%. pic.twitter.com/IRJN1MLEG2
#BCFC do not generate cash from operating activities, losing £12m last season, but instead rely on funding from the parent company BSHL (£17m in 2016/17). The cash was largely used to fund player purchases £4m. pic.twitter.com/Un9Egelsvt
Worryingly, a note states #BCFC will need additional owner funding of £49.5m for Jul 17 to Dec 18. To place this in context, this is more than total funding for last 7 years, hence the auditors noting a “material uncertainty†about club’s ability to operate as a going concern.
Swiss Ramble is doing Birmingham today if anyone interested on 11:16 - Jan 9 by Steve_M
Championship football is an utter mess isn't it?
The #BCFC wage bill surged 47% (£7.2m) from £15.3m to £22.5m in 2016/17 with playing staff up 30 to 94. Also included severance payments to managers and possible bonus payment to Redknapp for avoiding relegation. This has increased the wages to turnover ratio from 104% to 128%. pic.twitter.com/IRJN1MLEG2
#BCFC do not generate cash from operating activities, losing £12m last season, but instead rely on funding from the parent company BSHL (£17m in 2016/17). The cash was largely used to fund player purchases £4m. pic.twitter.com/Un9Egelsvt
Worryingly, a note states #BCFC will need additional owner funding of £49.5m for Jul 17 to Dec 18. To place this in context, this is more than total funding for last 7 years, hence the auditors noting a “material uncertainty†about club’s ability to operate as a going concern.
They would appear to be in a lot of trouble. It’s hard not to look at these sort of numbers and wonder how on earth there hasn’t been another Portsmouth-style meltdown.
Swiss Ramble is doing Birmingham today if anyone interested on 12:37 - Jan 9 by Illinoisblue
They would appear to be in a lot of trouble. It’s hard not to look at these sort of numbers and wonder how on earth there hasn’t been another Portsmouth-style meltdown.
Aren't these the sort of numbers that our fans demand?
*If others don't want to admit to this just call me a troll instead
Swiss Ramble is doing Birmingham today if anyone interested on 12:37 - Jan 9 by Illinoisblue
They would appear to be in a lot of trouble. It’s hard not to look at these sort of numbers and wonder how on earth there hasn’t been another Portsmouth-style meltdown.
And this is before they let Redknapp sign a load of players in the Summer.
Swiss Ramble is doing Birmingham today if anyone interested on 12:53 - Jan 9 by Bluefish
Aren't these the sort of numbers that our fans demand?
*If others don't want to admit to this just call me a troll instead
I’m less concerned about the money he spends and more concerned about the general identity of the club and what our vision for the future is. And yes, the state of the mouldy leaking North Stand roof DOES matter.
How do Leeds manage to raise £17m in commercial revenue? That's going some for a Championship club, although they are Sky's favourite club in the league aren't they?