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£53.9m Loss For 2010/2011

£53.9m Loss For 2010/2011

Villa have announced a record £53.9m loss for the last financial year, although revenues have grown to equally record levels.

Now I haven't seen the figures myself and there are better placed on the forum to give their thoughts, I'm going off the figures published by the Official Site earlier today.

Whilst the group loss rose from £37.6m in 2009-10 to £53.9m, revenues rose to a record £92m after the club saw a 1.3% increase overall, which included a 15.9% year on year increase in commercial income.

Matchday income dropped following early exits from Cup competitions.

The club also reduced bank borrowings by £8.3m and Randy invested a further £25m in the club.

What will take the headlines is 'exceptional charges' of £12m in relation to changes in management personal.

Please don't get too excited, that wouldn't be just O'Neill alone it would also have been all the backroom staff. I also think given the dates it includes Gerard Houllier and his staff, but it wouldn't include the compensation paid for Alex McLeish's staff.

Chief Financial Officer Robin Russell said of the results:

'Given the challenging economic environment that we have been experiencing in the West Midlands and indeed globally, we are pleased with the positive trends in our financial performance. The Board are confident that the actions taken since the end of the 2010-11 financial year have galvanised the long term stability of the club and have also given us a better financial platform on which to build for future success. Our objectives are to compete strongly on the pitch and to achieve sustainability as well as compliance with UEFA's Financial Fair Play requirements.'

Overall I'm surprised the losses are that big still, but without the smaller details it's hard to judge.

The positives are the increasing revenues, and with more high earning under performers having either departed or set to depart hopefully the figures should look better in the next accounts.

It again shows how far beyond our means we were living, but with that in hand given the write offs we need to be looking to rebuild on the pitch in the summer and get some positivity back amongst the fans.

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Writer:Mike Field
Date:Tuesday February 28 2012
Time: 5:33PM

Comments

0
im afraid next year is going to be something like 100m loss? i can see 15k season ticket fall if we carry on how were going.
Tr1dent
28/02/2012 17:36:00
0
considering your position and the decline of the squad over the last year or two, this should be really worrying for you. also it is all very well looking (hopefully) at turnover, but you could turn over 592m, but if you spend £593m, you have a problem, as you well know. Based on the supposed cost cutting in the last year or so, this perhaps justifies the need to sell the likes of Young and a few others big earners to see a much needed improvment in the books as you need that financial stability before you can improve, but you have to be very careful not to get too far behind
oxfordspur
28/02/2012 17:55:00
0
I agree Trident. Keep this Idiot and keep servingup the crap we've generally seen this season and it will get worse. Shake you head Lerner, your brain seems to be in neutral........
Pride of Lions
28/02/2012 17:58:00
0
i dont think the losses will get biggerm but the league position will get lower, if Lerner doesnt do something very soon.
oxfordspur
28/02/2012 18:29:00
0
Conveniently timed spin from the club to deflect attention away from our shocking negative tactics and feckwit of a manager. Randy really is a tool. He shouldn't have spent so much on getting into the top 4 and then given up. He should've known that this was a possible outcome of his actions. He needs to speak to the fans soon.
Villan444
28/02/2012 18:42:00
0
Yes 444 Companies House and HMRC allow us to spin our end of year date just to suit a conspiracy.

Anyway, date wise this doesn't include the Young/Downing transfers either but does include Bent.
mike_field
28/02/2012 19:08:00
0
The loss isn't anything to spin 444. The timing is same time each year as well. No one can hide or spin the dissatisfaction in mcleish.
The fear
28/02/2012 19:10:00
0
I don't believe some on here. The facts are clear - Villa have been living beyond their means and cuts HAD to be made, 15,000 fewer fans at an average of £400 after deduction of VAT would be circa £6m, so no armageddon based on thsese simple figures. Interesting that if an article is posted on McLeish then there are 30+ messages. But show the reason for the decisions and there are a hand ful and 2 of them from a Spurs fan! Says it all to me. Interesting also to see that Villan444 still his head in the sand and blames spin! Results have to be published in line with company accounting practices but such issues clearly pass some people by. Why is when typing messages a portion of the message is hidden to the writer? Mr Fear - any ideas why?
Gordonsleftboot
28/02/2012 19:17:00
0
What's your current stance Fear? Do you agree McLeish should go and Lerner needs to restructure? Do you think he should try and sell up? OxfordSpur has offered realistic comments, and I feel the Spurs model is the way to go but Lerner lost his nerve. It's not nice when fans of other clubs pity you...
ljkal
28/02/2012 19:33:00
0
In fairness most supporters are not interested in the financial aspects of a club which is obviously paramount to the sustainability like any business but unless you have mega rich owners you have to cut your cloth as they say. Having said that with fevers running high with the current plight and fervour to remove the manager then potentially the next accounts could be even worse due to reduced ST sales, merchandise etc. and sponsors will expect return on investment so Mr Lerner faces a very difficult close season.
cynicalone
28/02/2012 19:42:00
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