Easy Target Posted February 16, 2012 Report Share Posted February 16, 2012 From Twitter: Motherwell FC @MotherwellFC Motherwell FC today announced a profit for the year ending 31 May 2011 of £541,663 - Statement to follow shortly. Highlights from Club Accounts: The club reported a profit of £541,663 (up from £18,884 in 2009/10) Highlights from Club Accounts: Operating Income was £5.9m (an increase of 36% on 2009/10) Highlights from Club Accounts: Operating Costs were stable at £5.6m (£5.5m in 2009/10) Highlights from Club Accounts: Net transfer fees were £184,268 (down from £1.1m in 2009/10) Highlights from Club Accounts: The club has no bank debt Over half a million. Not bad. Quote Link to comment Share on other sites More sharing options...
Shivute Posted February 16, 2012 Report Share Posted February 16, 2012 A profit last season of half a million - just think what it will be like when we start have Champs League money to splash out :-) Obviously this will be skewed due to the good cup runs. But it does make you think what might have been if Rangers hadn't been spending money they didn't have over the last decade - how many more jaunts to Hampden might we have had, how much better off could we have been? I think every non-OF team should be asking themselves that Quote Link to comment Share on other sites More sharing options...
numpty Posted February 16, 2012 Report Share Posted February 16, 2012 Every non-OF's team's accountants will most likely have been playing most of the same games that Rangers' accountants have, to avoid paying anyone anything until they absolutely have to, just on a smaller budget. That's why accountants make the big bucks... unfortunately for Rangers, theirs just appear to have run out of games to play, and failed to plan accordingly. Quote Link to comment Share on other sites More sharing options...
Shivute Posted February 16, 2012 Report Share Posted February 16, 2012 That's why accountants make the big bucks.... I'm an accountant - where's my big bucks? Probably because i spend my working day on here! Quote Link to comment Share on other sites More sharing options...
daver Posted February 16, 2012 Report Share Posted February 16, 2012 We wouldn't have had many more trips to Hampden as we've not been drawn against Rangers in the cup very often. Other teams might have had more success but generally even a weakened Rangers would have been good enough to beat most teams. Hopefully another good cup run and strong league placing can see us consolidate our finances. Quote Link to comment Share on other sites More sharing options...
Mortonhallwell Posted February 16, 2012 Report Share Posted February 16, 2012 Isn't it great to know that our club is being run properly with a professional and competent management team at the helm. Our long term future is secure!! Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted February 16, 2012 Report Share Posted February 16, 2012 Isn't it great to know that our club is being run properly with a professional and competent management team at the helm. Our long term future is secure!! It is indeed but our long term future is not secure. Ok there's no need to worry but the club needs to create what it calls a "buffer fund" to cover "cash flow and crisis risk" ie through the Society. So far so good but the club must plan ahead without John Boyle. Quote Link to comment Share on other sites More sharing options...
weeyin Posted February 16, 2012 Report Share Posted February 16, 2012 Isn't it great to know that our club is being run properly with a professional and competent management team at the helm. Our long term future is secure!! It is, but according to the MFC Twitter update, Derek Weir also stated: "Despite the positive performance of the team & a welcome increase in attendances, we are unlikely to record a profit in 11/12. Quote Link to comment Share on other sites More sharing options...
Big Stall Posted February 16, 2012 Report Share Posted February 16, 2012 True Weeyin, but he's just being conservative and obviously hasn't factored in our glamour ties against Barcelona, Man U and Bayern Munich next season! Quote Link to comment Share on other sites More sharing options...
steelboy Posted February 16, 2012 Report Share Posted February 16, 2012 It is, but according to the MFC Twitter update, Derek Weir also stated: surely you don't want to get too focused on the 12 month accounting cycle? Quote Link to comment Share on other sites More sharing options...
weeyin Posted February 16, 2012 Report Share Posted February 16, 2012 surely you don't want to get too focused on the 12 month accounting cycle? Not at all. Just pointing out that, even with our relative success for 2011/2012 we are likely going to post a loss. So things like the Trust are very important to our continued success. Quote Link to comment Share on other sites More sharing options...
Orinoco Posted February 16, 2012 Report Share Posted February 16, 2012 so what did we do with the £500k? Quote Link to comment Share on other sites More sharing options...
siebsbarmyarmy Posted February 16, 2012 Report Share Posted February 16, 2012 The pitch maybe!!! I like the timing of this release. Feels like a nice little thumb on nose nannananana. I'm sure when we finish third and win the Cup Mr Weir might change his mind. Quote Link to comment Share on other sites More sharing options...
steelboy Posted February 16, 2012 Report Share Posted February 16, 2012 Not at all. Just pointing out that, even with our relative success for 2011/2012 we are likely going to post a loss. So things like the Trust are very important to our continued success. last season we had a transfer fee for reynolds, 3 euro games, 2 tv cup ties, two semis and a final. i think it's safe to say unless we get third and back to the scottish cup final we will see a significant drop off in revenue. Quote Link to comment Share on other sites More sharing options...
mio Posted February 16, 2012 Report Share Posted February 16, 2012 Phenominal result to be £500k up!! Congratulations to the financial people involved at Fir Park and a huge amount of credit goes to McCall and the players!! Amazing job!! Great to see the club being run properly from the bottom to top!! We never want to be in the position of 10yrs ago again!! Quote Link to comment Share on other sites More sharing options...
weeyin Posted February 16, 2012 Report Share Posted February 16, 2012 last season we had a transfer fee for reynolds, 3 euro games, 2 tv cup ties, two semis and a final. i think it's safe to say unless we get third and back to the scottish cup final we will see a significant drop off in revenue. Exactly. So we need to make sure we have plans to address the gap. Quote Link to comment Share on other sites More sharing options...
gdalli10 Posted February 16, 2012 Report Share Posted February 16, 2012 hopefully make some more money with another wee run in europe next season. Imagine what that figure would have been if we had taken one of the numerous chances we had vs Odense and got through to the group stages. Would have been a fair chunk towards a new stadium Quote Link to comment Share on other sites More sharing options...
Andy_P Posted February 16, 2012 Report Share Posted February 16, 2012 First off I'm a little surprised at just how open the club have been with the results and their analysis of them. I know the profit or loss figure is generally released and one or two other bits and bobs from the accounts get aired but there seems a lot more information than normal. A good thing I think when you are trying to get folk to invest in the Well Society. I suppose its worth remembering that these accounts cover as far as the end of May last year so when Derek Weir cautions about a potential loss this year he's doing so with the knowledge of the first six months of this years financial accounts behind him. What would contribute to a potential loss? While hopefully we'll get some extra prize money through the league and we can replicate or better last year's Scottish Cup run (please, please, please) we'll have missed out on the money we got from the Europa League and the League Cup semi. There's also the decreasing, but still significant remnants of the loan that's outstanding to John Boyle that still has been repaid too. Weir's comments perhaps give a little insight into the thinking behind accepting Blackpool's offer for Jamie Murphy last month. The impression I get is that any sales of players in the immediate future are likely to be put aside along with the proceeds of the Well Society incomings to get the £1.5m reserve point as soon as possible. Great news on the past year and I hope over the last few months of this financial year we'll be successful on and off the park, but I think he is right to highlight that last year is likely to be the exception rather than the norm. Quote Link to comment Share on other sites More sharing options...
texanwellfan Posted February 16, 2012 Report Share Posted February 16, 2012 I didn't realize we owed money to John Boyle. Guess i wasn't paying attention! Quote Link to comment Share on other sites More sharing options...
weeyin Posted February 16, 2012 Report Share Posted February 16, 2012 Weir's comments perhaps give a little insight into the thinking behind accepting Blackpool's offer for Jamie Murphy last month. I think that's definitely part of it. Like steelboy mentioned, in the prior year we sold Reynolds. McCall said in a recent interview on MFC TV that when he took the job he was told to sell one player a season. I imagine for most clubs our size that can be the difference between profit and loss at the end of a financial year. Quote Link to comment Share on other sites More sharing options...
Burn_Broomfield Posted February 16, 2012 Report Share Posted February 16, 2012 Positive news from the Club. Quote Link to comment Share on other sites More sharing options...
MFC-craig Posted February 16, 2012 Report Share Posted February 16, 2012 "Motherwell FC today released their annual accounts for the year ending 31 May 2011 ahead of their AGM for shareholders on Thursday 23rd February. Highlights The club reported a profit of £541,663 (up from £18,884 in 2009/10) Operating Income was £5.9m (an increase of 36% on 2009/10) Operating Costs were stable at £5.6m (£5.5m in 2009/10) Net transfer fees were £184,268 (down from £1.1m in 2009/10) The club has no bank debt" ..They just had to put that in Quote Link to comment Share on other sites More sharing options...
JBA Posted February 16, 2012 Report Share Posted February 16, 2012 Can only be good news, however we must be very cautious with any money the club generates. We have been fortunate and relatively successful with cup runs, europe and the like which has bolstered the clubs income. If we go out the cups in the first round a few seasons in a row and dont get decent money from a transfer, we will struggle. Quote Link to comment Share on other sites More sharing options...
prideoflanarkshire Posted February 17, 2012 Report Share Posted February 17, 2012 Net transfer fees were £184,268 (down from £1.1m in 2009/10) Is this buy/sell or both? Anyone know what players these figures relate to? Quote Link to comment Share on other sites More sharing options...
Andy_P Posted February 17, 2012 Report Share Posted February 17, 2012 You don't get a fee by fee breakdown again remembering the transfers would be running from June 2010 to May 2011 I'd imagine last year's figure would largely be made up of Reynolds sale to Sheffield Wednesday (Jan 11) The previous years figures running from June 2009 to May 2010 and while I can't remember exactly when they went would probably be made up of the likes of Clarkson to Bristol City and Paul Quinn to Cardiff. There's also bits and bobs that get included from transfers that might arise after the time of the sale (incoming and outcoming) which can have a wee impact on the totals as well. Quote Link to comment Share on other sites More sharing options...
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