Satriale's Pork Store
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How much did pie sales contribute?
O/T BFC’s Club Financial Accounts Revealed
- Thread starter CornishPool
- Start date
BFC_BFC_BFC
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It's unusual for you TBH... So well doneJust dealing in facts - I know that’s unusual on here
AmericanTangerine is based outside of the UK and perhaps isn't as familiar with the set up at North End... He was polite to you.... Yet you saw fit to belittle him... Did that make you feel better about yourself?
Simonized
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Ball on Fire
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I have gone through the Group accounts for the year needed 30th June 2022, there are some interesting numbers:-
Salaries and wages were £12M, an increase of 50% compared to the previous year.
The total number of people employed have increased by 30%.
There are 89 people employed as players, managers and coaches,
The Group made an Operating Loss on normal business trading of £2M which was offset by the Critch one off compensation from Aston Villa. The profit of £450k was due to a tax refund.
The TV money was £8.5M, around £3M from the Championship TV deal and around £5M from the annual Premier League TV deal solidarity payment.
Season tickets sales and gate receipts were less than £5M.
The accounts for next year (year ending 30th June 2023) will include the Bowler transfer fee and the compensation money BFC paid to Appleton and it is very likely a loss of around £3M will be made that will require a further cash injection by Sadler.
The major risk identified in the Accounts was relegation from the Championship back to Div 1, which if it happens this season will result in a significant reduction next season in our turnover from TV deals, gate receipts and commercial activities and the knock on effect to the budget for players wages unless Sadler digs even deeper into his own pocket and puts in at least £8M to try to get us back to the Championship at the first attempt.
Salaries and wages were £12M, an increase of 50% compared to the previous year.
The total number of people employed have increased by 30%.
There are 89 people employed as players, managers and coaches,
The Group made an Operating Loss on normal business trading of £2M which was offset by the Critch one off compensation from Aston Villa. The profit of £450k was due to a tax refund.
The TV money was £8.5M, around £3M from the Championship TV deal and around £5M from the annual Premier League TV deal solidarity payment.
Season tickets sales and gate receipts were less than £5M.
The accounts for next year (year ending 30th June 2023) will include the Bowler transfer fee and the compensation money BFC paid to Appleton and it is very likely a loss of around £3M will be made that will require a further cash injection by Sadler.
The major risk identified in the Accounts was relegation from the Championship back to Div 1, which if it happens this season will result in a significant reduction next season in our turnover from TV deals, gate receipts and commercial activities and the knock on effect to the budget for players wages unless Sadler digs even deeper into his own pocket and puts in at least £8M to try to get us back to the Championship at the first attempt.
seasideone
Well-known member
I am based out the UK - as a Blackpool fan I know how pretty much how PNE work,
And who are the people involved.
Anyway, I have learnt not to engage you - as you can argue Black is White however wrong you are.
I shouldn’t have even posted this as it goes against what I think.
So crack on - and I will not be replying to you again on this thread
BFC_BFC_BFC
Well-known member
Like I said… He was polite… You not so…I am based out the UK - as a Blackpool fan I know how pretty much how PNE work,
And who are the people involved.
Anyway, I have learnt not to engage you - as you can argue Black is White however wrong you are.
I shouldn’t have even posted this as it goes against what I think.
So crack on - and I will not be replying to you again on this thread
Looks like it was you who was talking bullshit in any case (as usual). Luckily we have people on here who can interpret a set of accounts to rely on
Bowler
Ball on Fire
Well-known member
The wage bill went up 50% last season and I’m sure it will have gone up again this season. We made an Operating Loss from normal business of £2M last season which was covered by the Critch compensation one off payment from Aston Villa. The profit of £500K was entirely due to a tax refund. I expect us to make a loss of at least £3M this season, after allowing for the Bowler transfer money from Forest and the compensation for loss of office paid to Appleton.
It would have to be very carefully incinerated and rebuilt as part of the new East.
After the incineration the fumigation of large parts of central and South Shore would cost billions increasing the national debt to unmanageable levels.
The country would be bankrupt and would have to be bailed out by Greece and other richer European countries.
In short, it would be a disaster.
TSSeasider
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Thank you for taking the time to explain this.
Can you explain what "good will" is. I've read it and don't understand what is going on about.
And what impact it has.
JJpool
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American tangerine isn't some Blackpool fan moved away, he's an American who started follwoing Blackpool, so him not knowing exactly a local rivals setup or the area in some respects is perfectly understandable, since I don't believe he's ever even been here.I am based out the UK - as a Blackpool fan I know how pretty much how PNE work,
And who are the people involved.
Anyway, I have learnt not to engage you - as you can argue Black is White however wrong you are.
I shouldn’t have even posted this as it goes against what I think.
So crack on - and I will not be replying to you again on this thread
Cut the guy a little slack.
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Phil_bfc deux
Well-known member
Why?
If owner A for example wants to spend more money then owner B
Why is it a problem?
I just spent a tenner in the local gaming machine in the pub, I won fuck all, the next bloke but about 50 quid in yet won the jackpot
How is that fair?
Ban him ....
fcblackpool
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When did June become year end?
BFC_BFC_BFC
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The accounting change to June YE was filed in April 2019 and was first applied for the year ending 30 June 2018
td53
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The basic point is sound. Sadler has put millions in, yes. But the club is not losing 10s of millions which many championship clubs are and have done historicially for some time. Whilst Sadler's contribution is obviously large, proportionally and reletively, the accounts reveal a fairly healthy picture because even if you deduct the 3.3 million he (I think) put in this year (or last year perhaps, I lose track of which year relates to what between the info in the minutes and the accounts and I've had about 10 minutes to digest both), we'd still likely be turning a much smaller deficit than many others who have singularly failed to control their costs in a way that we have avoided. The example of Preston is perfectly valid, regardless of the mistake of confusing the CEO and the owner.
There are barely any clubs which are 'healthy' financially in this division.
Pauls_Boutique
Well-known member
But the tenner already belonged to you and the 50 quid already belonged to him so you can both do what you like with it.
Why should clubs be allowed to spend what they don’t have, millions in these cases, to gain an advantage?
fcblackpool
Well-known member
Cheers BFCThe accounting change to June YE was filed in April 2019 and was first applied for the year ending 30 June 2018
td53
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It's a double edged sword. If you don't manage it, the end game is that it just becomes a race to Dubai, but if you do manage it, then you risk creating a stasis whereby the clubs with means at the point you apply it remain the clubs with means thereafter.
Of all the options available to create a more level playing field or encourage competition, it's why I'd favour a wage cap above FFP because a wage cap doesn't limit investment, but it limits how you can prise one asset from any given club.
I fully accept a wage cap is also flawed and actually punishes the people who are the entire purpose of football (i.e. the players)
In conclusion, fuck knows, up the pool.
Ball on Fire
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Year end under the Oystons was always 31st May but in Feb 2019 the year end date was changed to 31st July and in April 2019, the year end date was changed to 30th June and that is what it is today.
Ball on Fire
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Bowler was sold in Sept 2022 which is after the year end date of 30th June 2022 so the Bowler fee will be included in next year’s accounts.
TwelveAngryMen
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Extended under interim board as we had to get to grips with the mess
Blackpool Are Back!
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Ball on Fire
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Yes of course. Goodwill is the difference between the total purchase price Sadler paid for BFC and the fair value of the assets and liabilities that were included in the purchase e.g. BR Stadium, SGTG, the hotel, the players.
Goodwill is an intangible asset, it is a non monetary asset with no physical substance unlike other fixed assets e.g. buildings, cars.
Examples of what would be included in the BFC Goodwill valuation are as follows:- Loyal customer base (10,000 home fans), Season Ticket holders, Sponsors, BFC’s reputation and history (FA Cup winners, former members of the Premier League, famous players — Matthews, Armfield, Ball, Mortensen etc etc). EFL members (Golden Share), Standing in the Community and with the local Town Council. These all have a value to a New Owner compared to say starting your own Football Club in the non League pyramid.
The value of the Goodwill at the time Sadler bought BFC was £5M. Goodwill has a 10 year life so it will be amortised/depreciated over each of the first 10 years of Sadler’s ownership and the Profit & Loss account will be charged around £500K per year.
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Threepeaksphil
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One point about the Bowler money from Forest it may not have been paid in one lump sum but over a few years. The financial situation of BFC ,as distinct from other championship clubs, is a credit to Simon 
JJpool
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Was hoping someone would do a full comparison with our local rivals.....
But stole this snippet off pne online.
Comparison (both 2021/22):
| PNE | Lashers | |
| Matchday & STs | £3.01m | £4.60m |
| Prem/EFL distribution | £8.06m | £8.55m |
| Commercial, merch, etc. | £1.33m | £2.14m |
| £12.40m | £15.29m |
But this was our first season in the championship for ages and we were already more financially successful in many areas than Preston, who had been in for many years.
It's quite interesting how much more money BFC makes.
Despite some poor decisions this season that have left us where we are, overall we seem to be pretty well run for a football club.
I'd imagine we grew commercially again this season, digital advertising boards, new lounges etc, I believe even the seagulls are sponsored.
dodgy_surname
Well-known member
I’d rather be a lasher than a knob 
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Blackpoolmad
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Maybe if we buy nobody this summer and get Nigel Worthington, or Colin Hendry as manager, we can make an even bigger profit on our way to league 2.
Camberwell1
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Isn’t that his role ?
And thank you for your investment Simon
I want to know where my 2 shares are ! I think Karl Oyston shredded them (in the only machine that appeared to work in those days !)
I should be getting a dividend !
Financial fair play is meant to make sure just that.
A club can only spend within certain boundaries.
If a club runs up a debt such as have Cardiff and yet they benefit financially from being in the Championship next season and Blackpool, a club in profit are relegated then surely financial fair play is broken.
How do we know Appleton was paid compensation?
I don't quite understand how a tax refund can't be classed as part of any profit. It is money earned and overpaid by the club to HMRC and returned.
I'm not digging you out here btw, it's just a question.
Tangerinemoss
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But if it was your own tenner, and he had borrowed £100 to win his £50, that is probably a closer analogy.
Ball on Fire
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No problem Ginge, the tax refund which is better described as tax relief arose from the Group accounts and has nothing to do with BFC, but out of the goodness of his heart Sadler passed all of this tax relief from the Group accounts onto BFC. A very important financial figure is the underlying Operating profit from normal business activities which is unaffected by one offs like the Critch compensation and the tax relief passed over from Group’s accounts. Blackpool made an Operating Loss of £2M in 2021/22 and this Operating Loss is forecast to increase to £3M in 2022/23. Sadler would therefore be lending the Club a further £3M this time next year. If Blackpool were to be relegated in 2022/23 Sadler’s personal contributions each year would probably increase for the period we are in Div 1.
Appleton had a 4 year contract and was sacked after 7 months, he will have been paid compensation for loss of office but without sight of the contract terms and the break clauses I don’t know how much. As a minimum it will be 6 months salary. We will know more when we see the BFC Accounts for 2022/23 this time next year.
TSSeasider
Well-known member
Thank you for that.
It would be interesting to see how other clubs value it for a comparison.
And you don't need to answer it, but I guess goodwill doesn't exist when clubs are in turmoil?
Ball on Fire
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Goodwill often exists, Blackpool FC were in huge turmoil when Sadler bought BFC.
Why would Sadler pay £5M in Goodwill for BFC? Despite all the turmoil BFC were a Club with potential, they had been in the Premier League, won the FA Cup, owned an EFL Golden share, had a wonderful history, had World renowned former players — Matthews, Armfield, Ball, were a valued part of the local Community and had a very loyal fan base. If Sadler had started a Football Club from scratch in the non league pyramid they would have none of these advantages and the Goodwill would be zero.
I expected the Land & Buildings at Bloomfield Road including a three sided modern Stadium with a temporary stand and a 16,000 capacity to be worth a lot more than Sadler paid for them, but maybe lack of regular maintenance by the previous Owners reduced the value of these BFC assets,
Ball on Fire
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The pie sales crumbled during the financial year, refunds exceeded the sales turnover and the Club didn’t earn much of a crust.
The BBD (Best Befiore Date) became known as Bullshit Ben’s Diet.
Ball on Fire
Well-known member
Yes very true, from what I understood at the time of the Bowler transfer (Sept 2022) it was £2M up front and a further £2M based on other factors being achieved. I don’t expect we will see much if any of the additional £2M as Bowler hasn’t even played for Forest and there will now be a loan fee to pay for Bowler.One point about the Bowler money from Forest it may not have been paid in one lump sum but over a few years. The financial situation of BFC ,as distinct from other championship clubs, is a credit to Simon
Sadler is also personally funding the capital expenditure each year which was £1.8M in the year ending 30th June 2022 which was mainly for essential work and upgrades at the Squires Gate Training Ground.
BFC supporters owe everything to Sadler, he is bankrolling the Football Club. His personal financial contributions to BFC will exceed £100M in the first 10 years of ownership if we drop into Div 1 and he delivers the Training Ground and East Stand projects. The BFC wage bill this year is around £12M and the total income from STHs and other Gate receipts is only £5M, TV money in the Championship is filling the gap but TV money won’t fill this gap if we drop into Div 1.
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tangysider
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I agree we are lucky to have Simon, but think we took our eye of the ball this season. Losing Championship status and the clusterf*ck that has probably caused it is massive.
Maybe focus shifted to East stand and training ground at the expense of the footballing side.
Possibly addressed already with the appointment of the ex Coventry lads.
Phil_bfc deux
Well-known member
Not really
The point is with live in a society where people spend money and borrow as part of daily life
Why do people think football should be any different?
Some clubs spend more than others that's the way it is, it's up to them and if clubs are in debt then again that up to them
Ffp doesn't work nor should it even be a thing
We don't live in a socialist state thank god
Ball on Fire
Well-known member
Simon has delegated the responsibility for running BFC day to day to Brett and Ben. There is no doubt that Critch’s premature departure was a big surprise and events afterwards (Appleton appointment, very poor recruitment in the summer transfer window, sale of Bowler, departure of Keogh and the long injury list) has sent the Club into a downward spiral which will probably result in relegation this season. Div 1 is very bad news for Sadler as he has to decide whether to reduce the player budget in line with the greatly reduced turnover or keep the player budget as it is and fund the forecast £8M annual loss himself.
Insider
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I'm not surprised to find that you're on top of this subject and not just managerial appointments.
Ball on Fire
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There are still plenty of small shareholders in BFC like yourself. Sadler doesn’t own 100% of BFC he bought the shares that the Oystons owned which was 96.3%. There must be a register of all the other BFC shareholders and you should be able to get a copy of your share certificate.
The latest Accounts for the year ended 30th June 2022 confirmed that despite the small profit no dividend to shareholders would be paid.
Sadler has some very difficult decisions to make that were much easier if we were an established Championship Club. If we were to get relegated this season, Sadler has to decide whether to reduce the playing budget next season in line with the greatly reduced turnover in Div 1 or leave it as it is and continue to fund the difference himself. Does he still go ahead with the new Training Ground & East Stand projects or put them on the back burner whilst we remain a Div 1 Club? What about the administrative side of the Club does Sadler look to trim back the costs (KO did all the admin jobs for £50k a year)? What about the Dev Squad we have playing in the Central League, is that still a viable option for a Div 1 club? What about the Academy should that continue in its present format? Sadler will surely ask himself, how many players have BFC produced from the Dev squad and the Academy under his period of Ownership who have gone on to play regularly for the 1st team and/or been sold on for a transfer fee?
Phil_bfc deux
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I just don't get all the angst about other clubs spendingI'm not surprised to find that you're on top of this subject and not just managerial appointments.
Insider
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There's a valid reason FFP was introduced. Unfortunately it's not very well policed.
SwannDangerous
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Don't really get it... saddlers pumped in £20mil (or whatever the amount is) so far... does that mean we've actually made him the £20mil back plus £450k? Or is saddler £20mill out of pocket with the club £450k in the black due to this investment?
Phil_bfc deux
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It's a waste of time and effort
Insider
Well-known member
As far as income and expenditure is concerned the Group of companies made a small profit.
However to get there Simon and a company he controls have provided loans of £16.16m and £4.8m some of which £8.4m was to buy the Club.
All of this is shown in the balance sheet.
So the company now has total assets of circa £19m but it has liabilities of £26.4m.
Mixed up within all those figues is £21.57m that Simon and his companies have invested.
So if the Club had shut down on 30.06.2022 it would have cost him £7.4m (£19m -£26.4m) if everything had been realsed at its Balance Sheet value.
Tangerinemoss
Well-known member
Not really.
Football is a competition, with all sort of rules to ensure competition. 11 players on the pitch, squad size, length of game, all to enable meaningful competition. This follows for all sports, otherwise there is no competition, imagine Formula 1 with no rules for engine size and spend.
To most of us, the football pyramid is incredibly important, it is where our club has existed for 140 years. Maxima for spending at different levels are vital to keeping all these clubs alive. Spending huge unaffordable amounts risks the club's very existence, any of these rich sugar daddies dies and the family isn't interested and that's it.
SwannDangerous
Well-known member
Soooooo... not really £450k of profit then is it?
L’étranger
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I see the individual accounts for the club have been released.
After tax profit of £852k.
BM’s remuneration package increased by a miserly £45 from £374,837 in 20/21 to £374,932 in 21/22.
After tax profit of £852k.
BM’s remuneration package increased by a miserly £45 from £374,837 in 20/21 to £374,932 in 21/22.