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t think the 1.2m in transfer fees + extra 1m in europe this year will help /
also dissapointing to see IT doing a "sun" on it with the 1.8 headline when 800 k was the Football club writing off 800k from the academy which is an 800k profit in academy.
Its like moving a tenner from your left pocket into your right. embarressing
Harps looked good tonight
Denial!!
no just an aversion to bad jourmalisim.
1m is bad enough, just report the actual facts, not just a headline for the uneducated.
dissapointed with the Times
IT readers aren’t uneducated so they read the full article not just the headline , so no issue with their reporting and of course the uneducated don’t even know the IT exists so again not an issue that they’ll be misleadQuote:
Originally Posted by sbgawa
Not so sure
, a lot of people just read the headline and don't understand inter company stuff. Expect better from the I.T
I was being facetiousQuote:
Originally Posted by sbgawa
Sry.
Genuinely disappointed with the times who can normally be relied upon for semi intelligent comment, I suppose even the IT need clicks these days
Me too really. Any club, even those FT club with a strict wage structure, will have accumulated significant debt from 2020/21 (2000 avg gate at a cheap €10 for a season is a hole of 3-400k, European games etc etc). If a club was budgeting on a Cork City model of high and stable gate receipts it could be terminal stuff. European prizemoney, player sales, some creative accounting between different parts of a club/use of assets and losses can be absorbed. Throw in owners than can cover (some) losses also. It's remarkable that so far we havent had a serious SOS from any club so far.Quote:
Originally Posted by Calcio Jack
When a club racks up these kind of losses (which are significant in LOI terms) you really wonder about the point of Licencing and projected budgets at the start of each season.Quote:
Originally Posted by Dalymountrower
Im sure having DD to come in or the same way POD has covered Derry wage overrun the last few seasons is handy. What club wouldn't want that safety blanket.
But the point remains ... licensing is pointless and without consequence.
If you're racking up those sort of losses while the government are paying the vast majority of your wages during 2020, you need to look at your wage structure quite seriously.
I would expect us to show a profit over the 2020 and 2021 combined (excluding the intercompany stuff which has no effect)
2019 was a 600k profit as well so its not exactly a crises, glad it looks like we will have Champions league money again as that almost guarantees a profit for the year as long as Bradser doesnt go wild bill on us
Now that Byrne is a free agent ye never know...Quote:
Originally Posted by sbgawa
But cos transfer window is over JB cant play till January!Quote:
Originally Posted by Nesta99
With Derry looking like nailed on inners in 2022, Rovers need to take every possible opportunity to recruit now - only half joking too.
It’s not really though. It’s more like you started with a tenner in each pocket. You spent the one in your right. Then a year or 2 later you moved the one from your left to your right.Quote:
Originally Posted by sbgawa
I assume the reason it was written off is that’s it’s long since spent and there’s no hope of recovering it. Appreciate it was probably spent in previous financial years but still.
I don’t see any issue with the headline.
100% wrong. It was written off in one company creating a loss in that company and a profit in the other. Both Companies owned by same shareholders so literally no effect. That is just a fact not an opinion. The guys in the irish times are smart enough to know that and are writing a headline for people that aren't smart enough to understand.
Isnt it also a way to reduce tax liabilities, protect shareholders from losses and ensure that businesses can keep trading even if a sister business has to close. Not that that is whats happening at the development stage of SRFC academy. It is why people in this country think the worst when seeing such headlines or setup of business.
Profit in one and loss in the other. 100% agree. Literally no effect? Not sure. By your logic headline results were also wrong for each of the last few years as they did not report the consolidated position for the group including losses (or capital investment) incurred by the academy.Quote:
Originally Posted by sbgawa
Anyway, this is one of the most ridiculous debates on football forum ever. Let’s agree to disagree!