Accounts 2021/22

[Cooperman]

This deserves a thread of its own rather than being buried in with talk of investment and transfer fees.

The headline statements don’t make great reading, but are also not surprising.
- £13m pre tax loss
- Turnover down 30% and now at a shade less than £20m
- Salaries at 130% of revenue, £26m total
- Operating costs not reducing in line with the fall in revenues, this is a big worry.

All of the above includes the Flynn Downes money.

https://twitter.com/swansofficial/status/1651964497748275201?s=46&t=ORzTdp-XwRetLeBUxsYYRw

 

[monmouth]

This deserves a thread of its own rather than being buried in with talk of investment and transfer fees.

The headline statements don’t make great reading, but are also not surprising.
- £13m pre tax loss
- Turnover down 30% and now at a shade less than £20m
- Salaries at 130% of revenue, £26m total
- Operating costs not reducing in line with the fall in revenues, this is a big worry.

All of the above includes the Flynn Downes money.

https://twitter.com/swansofficial/status/1651964497748275201?s=46&t=ORzTdp-XwRetLeBUxsYYRw

Running a club in this mental league is near impossible. That said, this needs to be managed a lot better. Buying/loaning players that can get in the team for one, and using/trying our own players as first priority when needed. If we'd done that we might not have bought Fisher or brought in Sorinola and Wolf, never mind all the ones Martin froze out. We nearly had Karlan fucking Grant on loan ffs. Insane.

 

[Cooperman]

Running a club in this mental league is near impossible. That said, this needs to be managed a lot better. Buying/loaning players that can get in the team for one, and using/trying our own players as first priority when needed. If we'd done that we might not have bought Fisher or brought in Sorinola and Wolf, never mind all the ones Martin froze out. We nearly had Karlan f*****g Grant on loan ffs. Insane.

Indeed, we have been wasteful in quite a few areas. That said this is still unsustainable even without such cases and the revenue to salary ratio is the reason why we won’t be getting Manning on a new deal. Those out there that say we should be breaking the bank to do this, well the bank is already broken.

 

[Skippyjack]

This confirms that Latibeaudierre, Manning and Piroe are definitely off somewhere no matter what

 

[jasper_T]

Spending £26m on wages with a turnover of £20m. £40m in operating costs. Makes you wonder why we bothered loaning in Christie and Wolf at such expense. And now there are fans screaming "just get it done" and pay Manning whatever he's asking for. Owners shoved £16m in the till, £10m more on the way, it'll all be gone before anyone can blink.

Who in their right mind would invest in a Championship football club?

 

[bakajack]

£26m wages is significantly higher than what Swansea Independent had reported, like 10 times higher (they had reported it to be about £250k a month - even if I had misread that and it was 250k a week it still is significantly short of that reported figure).

Its easy to see though why clubs in the Championship are desperate to be able to broadcast games outside of the 3pm Saturday blackout - making money in this league is nightmarishly difficult especially without selling your prime assets year in year out and still retaining a competitive squad.

 

[NeathJack]

https://www.swanstrust.co.uk/news/trust-statement-club-accounts-2021-22/

 

[Cooperman]

£26m wages is significantly higher than what Swansea Independent had reported, like 10 times higher (they had reported it to be about £250k a month - even if I had misread that and it was 250k a week it still is significantly short of that reported figure).

Its easy to see though why clubs in the Championship are desperate to be able to broadcast games outside of the 3pm Saturday blackout - making money in this league is nightmarishly difficult especially without selling your prime assets year in year out and still retaining a competitive squad.

You surely misread that.

 

[CygnusX1]

https://www.swanstrust.co.uk/news/trust-statement-club-accounts-2021-22/

Sounds more like a club statement rather than a Trust statement. Says it all really

 

[bakajack]

You surely misread that.

Yeah I just found the article and rechecked it, £245k a week is what they said the wage bill is at.

https://www.fansnetwork.co.uk/football/swanseacity/news/60136/the-money-simply-isn%E2%80%99t-there-to-retain-joel-piroe-and-ryan-manning-at-swansea

That is still a huge deal short of £26m a year which is what has been reported.

 

[Cooperman]

Yeah I just found the article and rechecked it, £245k a week is what they said the wage bill is at.

https://www.fansnetwork.co.uk/football/swanseacity/news/60136/the-money-simply-isn%E2%80%99t-there-to-retain-joel-piroe-and-ryan-manning-at-swansea

That is still a huge deal short of £26m a year which is what has been reported.

That figure is probably this FY, which may be somewhat less than the FY just reported.

 

[monmouth]

Sounds more like a club statement rather than a Trust statement. Says it all really

Dictated and/or approved by the club. Nailed on.

 

[MajorR]

You surely misread that.

It’s defo £245k per week, which is just about £13m. Surely this means Piroe is offski, they club can’t afford for him to walk next summer.



Edit- hadn’t seen bakajacks subsequent post.

 

[jasper_T]

Yeah I just found the article and rechecked it, £245k a week is what they said the wage bill is at.

https://www.fansnetwork.co.uk/football/swanseacity/news/60136/the-money-simply-isn%E2%80%99t-there-to-retain-joel-piroe-and-ryan-manning-at-swansea

That is still a huge deal short of £26m a year which is what has been reported.

A target of a £13m playing staff wages this season vs £26m total wage bill for the whole operation last season.

 

[Risc]

A target of a £13m playing staff wages this season vs £26m total wage bill for the whole operation last season.

No chance have we even got close to that surely?