Bohs accounts

[Dodge]

I see they've leaked again. Hilarious reading

JPGs posted on Rovers forum
http://www.srfcultrasforum.com/forum/showthread.php?t=8515

Available in pdf format here
http://rapidshare.com/files/214976419/BFC_Annual_Report_for_year-ended_30_Nov_2008.pdf

My favourite line
"Their proposed strategy to increase expansion of the club in European competitions, while cutting costs, with specific focus on player costs, will allow Bohemians to remain viable, and become profitable within 1 - 2 years."

:D

[LeixlipRed]

Income almost equal to wages. Never mind other expenses. The writing is on the wall especially with the related news about Danniger trying to negotiate with creditors this week.

[GlasnevinRed]

http://www.thepost.ie/post/text/story.asp?document_id=40510&category_name=&version=print

Carroll seeks deal with creditors

22 March 2009
By Ian Kehoe, Chief News Correspondent
Property developer Liam Carroll has asked creditors of his development firm, Danninger, to write off up to 40 per cent of their debts as part of a scheme to rescue the company. Letters have been circulated to creditors in recent days offering them between 60 per cent and 70 per cent of their debts. A series of meetings are taking place between Carroll’s financial advisers and Danninger creditors to hammer out deals.

A significant number of creditors have already consented to writing down their debts. One of the country’s biggest property development firms, Danninger owes trade creditors tens of millions of euro. The company also has sizeable bank borrowings, although Carroll remains committed to repaying his lenders in full.

Carroll has retained KPMG in Dublin to advise on the informal scheme of arrangement between Danninger and its creditors, which are being dealt with on a case-by-case basis. If the creditors agree to write down their debts, Carroll has pledged to repay the money over a specific period of time. The move is designed to ease cashflow difficulties at Danninger.

Carroll was one of the country’s most active developers through Danninger and its predecessor, Zoe Developments, which built thousands of apartments in Dublin. However, the company has suffered a number of blows in recent months.

In October, the High Court quashed a fast-track planning permission from the Dublin Docklands Development Authority for a €200 million office development on the former Brooks Thomas site at North Wall Quay. Carroll has also temporarily halted construction of the Parkway Valley shopping centre in Limerick.

The developer has also significant interests on the Irish stock market, many of which have fallen in value due to the decline in equities.

[SMorgan]

Income almost equal to wages..

Where did you get the almost equals? Thats just players wages. The wage bill exceeds income by 700k!!

[Aaron]

Holy good ****!!:eek:

[Jicked]

Will the fans still be singing We Are Invincible next week? They deserve everything they've got coming to them.

[brianw82]

Total Turnover: 2,051,679
Wages & Salaries (Players): 1,951,970

% of Turnover spent on players' wages: 95.14

Here we have it in black and white. Bohs broke the Salary Cost Protocol last season.

Of course, it's now a new season, so no action will be taken.

[niallsparky]

Will the fans still be singing We Are Invincible next week?

Yes, I don't see why not?

[Mr A]

Had Galway been relegated instead of us they would have the FAI right over a barrel legally since they had a transfer embargo etc in place due to breeching the 65% rule.

Between this, Drogheda and Cork it has just proved the FAI simply didn't have the balls to build on what little progress has been made in the league by applying their own rules.

[Jicked]

Yes, I don't see why not?
Well considering their "invincibility" is clearly bought on tick, and they're about to find out pretty soon how uninvincible they are when the shít hits the fan.

[brianw82]

Major LOLs @ the tag 'attention pineapple stu'

[Dodge]

The money received from danninger counts towards Bohs income so they're still under the 65% (just)

[adamd164]

The money received from danninger counts towards Bohs income so they're still under the 65% (just)
They're shagged this year though, surely with Carroll gone.

How much has the entire wage bill been reduced by roughly does anyone know?

[Dodge]

Major LOLs @ the tag 'attention pineapple stu'

I'm glad someone noticed :)

[Dodge]

I think only players wages are included in 65%

[LeixlipRed]

Where did you get the almost equals? Thats just players wages. The wage bill exceeds income by 700k!!

Haha, I read it wrong. Brilliant :D

[pól-dcfc]

Some of the glee here is worrying.

Those accounts are shocking. Bohs are ****ed, which is bad for the league. I hope to god the FAI pull the finger out and do something about this before one of the oldest clubs in the country goes completely tits up.

[Dodge]

Some of the glee here is worrying.

Those accounts are shocking. Bohs are ****ed, which is bad for the league. I hope to god the FAI pull the finger out and do something about this before one of the oldest clubs in the country goes completely tits up.

They're a members club. They've no one to blame but themselves.

[Réiteoir]

Some of the glee here is worrying.

Those accounts are shocking. Bohs are ****ed, which is bad for the league. I hope to god the FAI pull the finger out and do something about this before one of the oldest clubs in the country goes completely tits up.

It's a Shamrock Rovers and Shelbourne fans combined wet dream tbh

I'm looking forward to the day that Bohs will be handed a fully completed stadium by North Ballymagash Urban District Council for free and only having to pay off a small percentage of their debts...

It seems to be the general way of things being done

[pól-dcfc]

They're a members club. They've no one to blame but themselves.

I agree with you. But it'd be awful for Irish football if they go. Something needs to be done.

[Dodge]

Meaning they spent an incredible €864,018 on other wages. The average wage for non playing (parttime barmen, parttime admin, parttime groundstaff and backroom) staff at Bohs is over 45k a year.

Something is very, very wrong with this picture.

Well there's two ways of looking at it

In their P&L a/c they say

Wages & salaries – Players (1,951,970)
Wages & salaries – Other 3 (711,090)

Total - (2,663,060)

However in their cash flow statement they say

Cash payments to and on behalf of employees (2,607,149)

---

Evn without that anamoly its a huge figure for non playing staff. I'd guess that some players are paid as coaches.

The Danninger money is also listed as €1m and €1.1m at different stages

[Hairy Bowsie]

I agree with you. But it'd be awful for Irish football if they go. Something needs to be done.

Well the hell does the notion come from that the league needs any club? You always hear that the league needs a strong Cork/Bohs/Rovers etc. It doesn in it's ******. The league would still continue on (poxy as ever) without any club. It doesn't need anyone.

Now, i also agree Réiteoir, that is how things are done so get aquainted with the examiner now and get ready to buy him a few drinks too. Although you'll have to admit Shels are the exception in that regard, we had no debt wiped.

Next thing is i'm ****ing myself laughing and i feel no shame for it, i'm laughing now while i can because when the **** does hit the fan Bohs will be bailed out like Cork and Drogs and then i'll be too ****ed off to laugh.

[pól-dcfc]

Well the hell does the notion come from that the league needs any club? You always hear that the league needs a strong Cork/Bohs/Rovers etc. It doesn in it's ******. The league would still continue on (poxy as ever) without any club. It doesn't need anyone.

Now, i also agree Réiteoir, that is how things are done so get aquainted with the examiner now and get ready to buy him a few drinks too. Although you'll have to admit Shels are the exception in that regard, we had no debt wiped.

Next thing is i'm ****ing myself laughing and i feel no shame for it, i'm laughing now while i can because when the **** does hit the fan Bohs will be bailed out like Cork and Drogs and then i'll be too ****ed off to laugh.

Accounts like this make the league a laughing stock. Like it or not, Bohs have one of the longest and most illustrious histories in Irish football. The league will survive if they go tits up, but it would be one club less with anyway decent attendances. Just like it was a shame that the Drums went out of league football, it'd be a shame if Bohs did.

It is there own fault that they're in this mess, but personally I think that there is a big failing on behalf of the FAI as well. Clubs should neverbe allowed to look this stupid.

Also, throughout the accounts there are loads of typos. Who the **** put this document together? I think there is one column that shows Bohs having an out going of £14,000,000 in 2007. It's a shambles. If I was a Bohs member and had that produced to me I'd go bananas.

[Dodge]

For the record these accounts do not make the league a laughing stock. Valencia are €500 million in debt ffs. No one thinks that league is rubbish

[pól-dcfc]

For the record these accounts do not make the league a laughing stock. Valencia are €500 million in debt ffs. No one thinks that league is rubbish

Yes they do. Wait until they are printed in tommorrows papers. You think the barstoolers will think "awk sure it's just like Valencia, Bohs are grand and the LoI is a great league"?

Will they ****.

[Dodge]

You think they'll they care about these figures?

Will they **** indeed!?

[pól-dcfc]

You think they'll they care about these figures?

Will they **** indeed!?

I've never said they will care about the figures. But it gives them another stick to beat the LoI with, and that is a fact.

[hoops1]

Why should anyone care what happens Bohs they are invincible dont you know.:rolleyes:

[Dodge]

I've never said they will care about the figures. But it gives them another stick to beat the LoI with, and that is a fact.

Which is when you mnetion chelseas losses.

On a general point I hate LOI fans using the 'barstoolers' as the baromator for everything. Thy don't care about the league, and never will.

Bohs problems are big within our league, who gives a toss what outsiders think?

[pól-dcfc]

For the same reasons that people cared about Rovers. You've had a **** load of good will from fans of every club over the past 22 years, and in particular during the attempted GAA take over of Tallaght.

I hate Bohs as a football club. Really really hate them. But this collective masturbation session is really irritating.

[pól-dcfc]

Bohs problems are big within our league, who gives a toss what outsiders think?

Me. Because I want to see the likes of Derry, Pats, Bohs, Rovers and Cork getting crowds closer to 10,000 than 1,000.

[hoops1]

They cant expect to pay the wages they are, go on winning trophies putting the clubs future in doubt while singing we are invincible and expect other clubs to have sympathy with them.
I always thought they had supporters who had the interests of the club at heart. It seems that getting one up on opposition supporters is enough to keep them happy. They are a members club dont forget and at the moment the dont seem to have the know how or desire to safe guard the future of their club. Im more dissapointed in them than gleeful at their current prediciment.

[Dalymountrower]

Diverting and all as this must be for some of the posters on here who will never get to see a set of audited accounts for their own clubs, apart from the faux shock/horror the reality is that Bohs is an asset rich club but one which has been negligently administered in the past four to five years (as if you all didn`t know). If it was to continue to be administered in the same manner we would be out of business by 2013. We will have a largely new Board in the next few months which should stop the haemorraging over the next two years.
Any company with assets conservatively at 25-30 million and cumulative debts at 5-8 million tops would be considered as very healthy in the current economic climate .
With improved skill mix and better governance at Board level we`ll come out of this stronger and still considerably richer than any other club in the league. And yes, we are invincible

[hoops1]

Diverting and all as this must be for some of the posters on here who will never get to see a set of audited accounts for their own clubs, apart from the faux shock/horror the reality is that Bohs is an asset rich club but one which has been negligently administered in the past four to five years (as if you all didn`t know). If it was to continue to be administered in the same manner we would be out of business by 2013. We will have a largely new Board in the next few months which should stop the haemorraging over the next two years.
Any company with assets conservatively at 25-30 million and cumulative debts at 5-8 million tops would be considered as very healthy in the current economic climate .
With improved skill mix and better governance at Board level we`ll come out of this stronger and still considerably richer than any other club in the league. And yes, we are invincible

Thanks for proving my point for me:eek:

[pól-dcfc]

Diverting and all as this must be for some of the posters on here who will never get to see a set of audited accounts for their own clubs, apart from the faux shock/horror the reality is that Bohs is an asset rich club but one which has been negligently administered in the past four to five years (as if you all didn`t know). If it was to continue to be administered in the same manner we would be out of business by 2013. We will have a largely new Board in the next few months which should stop the haemorraging over the next two years.
Any company with assets conservatively at 25-30 million and cumulative debts at 5-8 million tops would be considered as very healthy in the current economic climate .
With improved skill mix and better governance at Board level we`ll come out of this stronger and still considerably richer than any other club in the league. And yes, we are invincible

Jesus Christ.

[Dodge]

Me. Because I want to see the likes of Derry, Pats, Bohs, Rovers and Cork getting crowds closer to 10,000 than 1,000.

Do you think Bohs accounts are one of the top 10 reasons why Derry or Pats aren't getting 10,000 to a game? :rolleyes:

[MariborKev]

Unbelievable. They just dont get it, even now.

Bohs are going bust, because this mindset is the prevalent one in the membership.

Ditto, that's what I thought.

Asset rich? Ha. One asset, the value of which has dropped sharply and for which the ownership has yet to be determind.

Your assumption is based on the completion of a deal, signed by a board you want to replace.

[Dodge]

Their asset, whose actual ownership is in question, which now has no access, is worth approximately ZERO in todays climate.

spot on. As with all assets, they're only worth what people are willing to pay.

I love the way they reacted to economic meltdown in the construction sector by knocking 10% of the value of their car park

[pól-dcfc]

Do you think Bohs accounts are one of the top 10 reasons why Derry or Pats aren't getting 10,000 to a game? :rolleyes:

Are you thick? Where have I said anything remotely like "Bohs' accounts are one of the top ten reasons why Derry aren't getting 10,000 at a game"?

The fact that the league seems to be embroiled in some sort of farce every week certaintly is a huge contributing factor to the ****e attendances we all experience.

Stop taking everything out of context and putting words in my mouth Dodge. You're looking foolish.

[stickyjoe]

Diverting and all as this must be for some of the posters on here who will never get to see a set of audited accounts for their own clubs, apart from the faux shock/horror the reality is that Bohs is an asset rich club but one which has been negligently administered in the past four to five years (as if you all didn`t know). If it was to continue to be administered in the same manner we would be out of business by 2013. We will have a largely new Board in the next few months which should stop the haemorraging over the next two years.
Any company with assets conservatively at 25-30 million and cumulative debts at 5-8 million tops would be considered as very healthy in the current economic climate .
With improved skill mix and better governance at Board level we`ll come out of this stronger and still considerably richer than any other club in the league. And yes, we are invincible

:D

Sweet jesus, I hope thats sarcasm. I wouldn`t even know where to start in replying to that.

[Réiteoir]

:D

Sweet jesus, I hope thats sarcasm. I wouldn`t even know where to start in replying to that.

Sure it is - he's just giving the slacked jawed yokels about the place what they want to read

[Dodge]

Are you thick? Where have I said anything remotely like "Bohs' accounts are one of the top ten reasons why Derry aren't getting 10,000 at a game"?

The fact that the league seems to be embroiled in some sort of farce every week certaintly is a huge contributing factor to the ****e attendances we all experience.

Stop taking everything out of context and putting words in my mouth Dodge. You're looking foolish.
Get a grip man, you're the one who said that these accounts make the league a laughing stock and when i asked why you cared you mentioned the 10,000 attendances thing

I'm saying that every club has enough problems of their own before they can start blaming Bohs for the lack of attendances? Are you saying this is wrong?

[Bald Student]

I love the way they reacted to economic meltdown in the construction sector by knocking 10% of the value of their car park
If they're getting 400k per year in rent then 6 million is a fair estimate.

[pól-dcfc]

Get a grip man, you're the one who said that these accounts make the league a laughing stock and when i asked why you cared you mentioned the 10,000 attendances thing

I'm saying that every club has enough problems of their own before they can start blaming Bohs for the lack of attendances? Are you saying this is wrong?

These accounts WILL make the league a laughing stock. And they WILL make the potential audience for the league think it's even more rubbish than thy do now.

I haven't blamed Bohs for our rubbish attendances. Once again you're putting words into my mouth. Just to make it clear:

"The fact that the league seems to be embroiled in some sort of farce every week certaintly is a huge contributing factor to the ****e attendances we all experience."

[Dodge]

"The fact that the league seems to be embroiled in some sort of farce every week certaintly is a huge contributing factor to the ****e attendances we all experience."

But its not every week is it. these are form last year and have been widely known for a while. I saw them first weeks ago. If I saw them, then journos saw them

And once again, my main point is that people here over emphasise the effect these type of things have on people who don't care about the league. Ask 20 non LOI people tomorrow what they think of Bohs finances and I guarantee you none of them will have a clue.

Blad student - fair enough. I'd have preferred if they had it revalued in the current climate, rather than just knock the 10% off., but I'm no expert...

[pól-dcfc]

But its not every week is it. these are form last year and have been widely known for a while. I saw them first weeks ago. If I saw them, then journos saw them

And once again, my main point is that people here over emphasise the effect these type of things have on people who don't care about the league. Ask 20 non LOI people tomorrow what they think of Bohs finances and I guarantee you none of them will have a clue.


Problems like these are indicitive of what happens in general in the league. We've had two ridiculous stories in the past couple of days, with the non-payment of Dan Murphy and these accounts. They all contribute to the generally negative a derisory attitude towards the LoI amongst the vast majority of the Irish population.

What I'm saying is that it isn't good for the league. And that any collective w.ankathon is short-sighted.

[OneRedArmy]

If they're getting 400k per year in rent then 6 million is a fair estimate.That depends on how long the lease is and what terms are attached to it's renewal or other options attaching;)

[passerrby]

Any company with assets conservatively at 25-30 million and cumulative debts at 5-8 million tops would be considered as very healthy in the current economic climate .

thats the kind of assessment that has caused this global meltdown do you work for a bank

[SkStu]

we laughed at Rovers when they made monumental f*ck up after monumental f*ck up after monumental f*ck up. We laughed at Shels too. We just laugh at Pats anyway.

Enjoy the moment lads. :ball:

[Bald Student]

Blad student - fair enough. I'd have preferred if they had it revalued in the current climate, rather than just knock the 10% off., but I'm no expert...I don;t know much about these things either. I think a better question might be why they revalued the car park. Could this be part of a plan to stay in Dalyer but sell the car park to pay down the debt?