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Holy ****.
Grim reading.
A further £1million pound loss, £1.8 million of debts remaining...
Thank the lord we've had some good PR in the past few days!
Having already cut over £2 million from our losses, does anyone honestly believe we can cut another £1million and remain even remotely competitive?
I know it's not popular to appear negative on here but this needs to be discussed....
Thoughts?
I think the new chairman was pretty clear what he said about this. If we remain in this division funding would be required to plug such gaps.
Cutting the operating loss from 1.4m to 1m after 12 months is progress of a type. HOWEVER, how and where else they cut is anyone's guess.
They desperately need to find new revenue streams from somewhere.
The new sports bar and the additional hospo suite that's going into the old hydro shed will help somewhat but I doubt it'll create enough new revenue to significantly dent that operating loss.
In the highly unlikely event we get promoted, and providing we don't increase spending hugely we should be operate a break-even scenario. But that's getting ahead.
Lots of progress needs made.
Judging though by the fact that we has to sell Gussie to fund through to the end of this season, we will not have made enough progress since June 2017 which these accounts take us up to.
This is one of the reasons why it's so important for the manager and players to get things right on match days.
The run of bad results, players under performing and poor team tactics is going to cost United even more money.
We can make the play offs, but can the manager and players deliver the goods ?
People's jobs will also be at risk if the players fail to win promotion.
It's time to get out of this rut and hit a winning run.
Pretty sure MM said the debt at this moment is £2.4m which would forecast around another £1m loss when accounts are published next year.
Being promoted this season is imperative, but I can't see it happening.
Which has me wondering why we are renewing the lease on St Andrews and showing interest in players like Bilel Moshni. Just seems more money being spunked away.
Nothing in the accounts any Arab with half a brain didn't expect, so we look to the main issue which is getting the team on the park sorted, do that and everything else will fall into place and this club will get back to where we belong which will irritate many (especially trophy virgins and sevconians)
Disagree - a £1 million pound loss is well in excess of what I expected in light of the cuts that have been well publicised.Quote:
Originally Posted by shedka
As it stands - our club is a business which is living well outwith it's means, running at a £1 million pound a year loss with existing debts of £2.4 million and with no tangible assets owned directly by the club.
Are you still seriously saying we need to improve whats on the park as the priority? the only way to do that is by spending money - we've got none. Without serious outside investmenbt we need to focus on keeping the club out of administration, balancing the books, sucking up whatever that means on the park, and then when we are in a better position start improving. If we throw more money at the squad, particularly with this clown in charge, it's only going 1 way.
How the f uck can a club running at a one million pound a year loss be 17(SEVENTEEN)points behind ST FN Mirren?,the damage done to our club by McKinnon,Thompson,the current chairman and the BOD is truly staggering,an FN chimps tea perty could have done a better job.
What external funding did Jack Ross get from a club who were on the brink relegation to league 1 last season?.Quote:
Originally Posted by TerryTheTerror
He doesn't need any.Quote:
Originally Posted by GUNBOAT
The people at that club have a plan and know what they're doing. They don't guess and try to fluke their way to success.