Cardiff accounts show £130Mill is owed/Debt reaches £174 Mil

Thought the 130m seemed low, 174m seems more like what we expected.

Everyone has been going on about 180m so not sure why the surprise now.

Hopefully we will start seeing a reduction in the next few years.

Not good reading but I'd rather owe 130m to someone who can afford it than 20m to someone who can't.

Now now Luke,Ive always said £170 million

The Guardian also ran this story with £12m loss and £174m debt headline figures.

I can't believe that one of the big nationals could get it totally wrong.

Annis, looks like you were right all along.

Cardiff City have announced annual losses of £12m despite spending last season in the Premier League, with the club’s total debt now standing at a staggering £174m.

The Welsh side were relegated in their first top-flight season since 1961/2 after finishing bottom of the table but still received £62m in prize money from the Premier League. However, the club’s latest accounts covering the year ending May 2014 were released on Thursday and show that they still lost a significant amount of money despite increasing revenue to £79.9m.

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That works out as almost £1m a month in losses while they were in the Premier League, taking the club’s total deficit when the value its stadium, players and other assets are subtracted to £81m. Most of the money is owed to chairman Vincent Tan, the Malysian businessman who purchased 30% of shares in May 2010 before increasing that to beyond 90% last year. In total, the accounts state that Cardiff spent £45m on transfers and £46.7m on wages. That included the purchase of Danish striker Andreas Cornelius for £7.5m, who was sold back to FC Copenhagen for a fraction of the cost.

Thought the 130m seemed low, 174m seems more like what we expected.

Everyone has been going on about 180m so not sure why the surprise now.

Hopefully we will start seeing a reduction in the next few years.

Not good reading but I'd rather owe 130m to someone who can afford it than 20m to someone who can't.

Keith said it's 156 million debt on mm board

Around the Media World

The Times/Guardian and Now the Daily Mail


Cardiff City announce annual losses of £12m, taking total debt to £174m
Cardiff City have posted their financial results for last year
The Championship side made an overall loss of £12million
That loss took the club's total debt to £174m
Vincent Tan has previously said he will convert the club's debt into equity

Daily Mail

By PA REPORTER

26 February 2015

Cardiff have announced annual losses of £12million to take the club's total debt to £174m.

The club's latest figures, lodged with Companies House, cover the year ending May 2014 which saw Cardiff relegated from the Barclays Premier League after only one season.

Revenue in the top flight increased to £79.9m - courtesy mainly to £63.9m of broadcast payments - but the accounts show £45m was spent on transfers and £46.7m on wages.

The club's latest figures cover the year ending May 2014 which saw Cardiff relegated from the Premier League


Malaysian businessman Vincent Tan has previously said he will convert the club's debt into equity


Owner Vincent Tan's loans increased to £130m and Cardiff's debts dwarf the value of its stadium, players and other assets - with the club's net deficit up from £69.3m to £81m.


'Following relegation from the Barclays Premier League the owners are aware that they needed to again invest in strengthening the playing squad, but that they needed to spend wisely,' the Sky Bet Championship club said in the report.

'Whilst long-term funding is not guaranteed, the Malaysian investors have indicated that providing the business develops as planned, they will continue to support the company in the foreseeable future and provide additional finances in order that it can settle its liabilities.'

Thought the 130m seemed low, 174m seems more like what we expected.

Everyone has been going on about 180m so not sure why the surprise now.

Hopefully we will start seeing a reduction in the next few years.

Not good reading but I'd rather owe 130m to someone who can afford it than 20m to someone who can't.

Keith said it's 156 million debt on mm board

And to think Wez I said £170 mill, a lot closer than anyone else ever said.

Thought the 130m seemed low, 174m seems more like what we expected.

Everyone has been going on about 180m so not sure why the surprise now.

Hopefully we will start seeing a reduction in the next few years.

Not good reading but I'd rather owe 130m to someone who can afford it than 20m to someone who can't.

Keith said it's 156 million debt on mm board

And to think Wez I said £170 mill, a lot closer than anyone else ever said.

shocked that we lost money as wildly reported we made a profit in our premiership season

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

I still dint get it that we lose 12 million and we were 119 in debt but its jumped up to 156 million it just doesn't add up unless the stadium expand is counted in it

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

I still dint get it that we lose 12 million and we were 119 in debt but its jumped up to 156 million it just doesn't add up unless the stadium expand is counted in it

It will certainly be interesting how the debt is that much.

I use to say £170 mill not far off

Is it possible that the prize money for finishing 20th last season may not have been paid until say October/November and therefore may not have been included in this return?

If that were the case then the actual debt (after prizemoney) would be closer to £100m

#justhoping

Is it possible that the prize money for finishing 20th last season may not have been paid until say October/November and therefore may not have been included in this return?

If that were the case then the actual debt (after prizemoney) would be closer to £100m

#justhoping

In the account s it says 15 million is owed to Cardiff city this could be the tv money

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

The debt level is worrying but not surprising as we all know the club has been spending money like a drunken sailor on shore leave.

But a £12m loss is not bad when you consider QPR lost £65m during thier season in the PL which ended in relegation back to the Championship. I remember QPR stated the overall debt at the club had risen to £177m at the time they were relegated so it does beg the question "Is this level debt the cost of chasing the dream of Premier League Football?"

Or does it just show both clubs Malaysian owners haven't got a clue how to manage the business side of a football club.

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

Problem is we won't make another £12m from player sales in next summers transfer window and parachute payments go down by about £2m so we need to make £10m from somewhere to break-even in 2015/16. Can we cut another £10m from the wage bill?

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

Problem is we won't make another £12m from player sales in next summers transfer window and parachute payments go down by about £2m so we need to make £10m from somewhere to break-even in 2015/16. Can we cut another £10m from the wage bill?

if the club is prudent we can ,it all depends what tan wants to do 100 million min is a great carrot to dangle and he could gamble again

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

is the debt this years last years account's? Are there monies to be paid to club from transfers parachute payments ect ect that are not included in accounts? and musnt forget cost cutting that is not accounted for? Will we ever have know true amount of debt until tan leaves?

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

is the debt this years last years account's? Are there monies to be paid to club from transfers parachute payments ect ect that are not included in accounts? and musnt forget cost cutting that is not accounted for? Will we ever have know true amount of debt until tan leaves?

agree that we knew it would be high last season's buy I just hope next year's arnt as well

Wez, your words, So it looks like I was not scaremongering, but nearer to the truth,than anyone else.

Do you think its better now tho this season with the players sales and cost cutting or do you think it's gone up ? As there us now 9 months since the end date of the accounts ?

Wez, I def think our debt should now be going down, it surely cant be rising after our cost cutting this season.

So if in our promotion season we made a loss of £30m with a wage bill of £27m and a loss of £12 on transfers then this season with a wage bill of hopefully less than £37m, a profit of £12m from transfers and £20m of parachute money we should make a profit of about £4m. So debt might come down by £4m in next accounts.

a profit is a profit ,doesn't matter how much debt your in as long as you service the debt the saving grace with us is it's owed all to our owner

is the debt this years last years account's? Are there monies to be paid to club from transfers parachute payments ect ect that are not included in accounts? and musnt forget cost cutting that is not accounted for? Will we ever have know true amount of debt until tan leaves?

Debt is at May 2014. I've attempted to include the other factors in my guess at £4m profit for accounts to May-2015

Cardiff City announce annual losses of £12m, taking total debt to £174m
Cardiff City have posted their financial results for last year
The Championship side made an overall loss of £12million
That loss took the club's total debt to £174m
Vincent Tan has previously said he will convert the club's debt into equity

Cardiff have announced annual losses of £12million to take the club's total debt to £174m.
The club's latest figures, lodged with Companies House, cover the year ending May 2014 which saw Cardiff relegated from the Barclays Premier League after only one season.
Revenue in the top flight increased to £79.9m - courtesy mainly to £63.9m of broadcast payments - but the accounts show £45m was spent on transfers and £46.7m on wages.

Owner Vincent Tan's loans increased to £130m and Cardiff's debts dwarf the value of its stadium, players and other assets - with the club's net deficit up from £69.3m to £81m.
'Following relegation from the Barclays Premier League the owners are aware that they needed to again invest in strengthening the playing squad, but that they needed to spend wisely,' the Sky Bet Championship club said in the report.
'Whilst long-term funding is not guaranteed, the Malaysian investors have indicated that providing the business develops as planned, they will continue to support the company in the foreseeable future and provide additional finances in order that it can settle its liabilities.'
Malaysian businessman Tan has previously said he will convert the club's debt into equity.

Quite rightly we're alarmed at this debt figure (whatever it is, it's huge) - but this is perhaps naivety on our part.

Put to one side the details of our own local ins and outs with the owner etc, but it has been common knowledge for some time that a club promoted to the Premier league will NOT make any money from that experience in Year 1 - the money starts (in profit terms) in Years 2 and 3.

Sometimes I think we are victims of our lengthy history of underachievement - as much as I love this club and always will, it is a sad fact that we have punched well below our weight since, and even before, the days of Jimmy Scoular.

I don't want to start any finer pointing boys, just the reflections of a 53 yo child who loves the club no matter what

City should be on a par with the Southamptons and West Broms of this world.

Anyhow CTID

Quite rightly we're alarmed at this debt figure (whatever it is, it's huge) - but this is perhaps naivety on our part.

Put to one side the details of our own local ins and outs with the owner etc, but it has been common knowledge for some time that a club promoted to the Premier league will NOT make any money from that experience in Year 1 - the money starts (in profit terms) in Years 2 and 3.

Sometimes I think we are victims of our lengthy history of underachievement - as much as I love this club and always will, it is a sad fact that we have punched well below our weight since, and even before, the days of Jimmy Scoular.

I don't want to start any finer pointing boys, just the reflections of a 53 yo child who loves the club no matter what

City should be on a par with the Southamptons and West Broms of this world.

Anyhow CTID

disagree. Pretty sure that Burnley will make a profit from this season.


Fair enough we paid for the stand, 10m or what ever it was. But both our wage bill, and the money spend on players we crazy

Quite rightly we're alarmed at this debt figure (whatever it is, it's huge) - but this is perhaps naivety on our part.

Put to one side the details of our own local ins and outs with the owner etc, but it has been common knowledge for some time that a club promoted to the Premier league will NOT make any money from that experience in Year 1 - the money starts (in profit terms) in Years 2 and 3.

Sometimes I think we are victims of our lengthy history of underachievement - as much as I love this club and always will, it is a sad fact that we have punched well below our weight since, and even before, the days of Jimmy Scoular.

I don't want to start any finer pointing boys, just the reflections of a 53 yo child who loves the club no matter what

City should be on a par with the Southamptons and West Broms of this world.

Anyhow CTID

disagree. Pretty sure that Burnley will make a profit from this season.


Fair enough we paid for the stand, 10m or what ever it was. But both our wage bill, and the money spend on players we crazy

Perhaps Burnley will - but quite likely they will be relegated too. And left with an old ground desperately in need of re-development - remember their wooden seats??

For every Burnley though, you will have far more QPRs. Look at how many clubs who are relegated end up in financial difficulties and struggle both on and off the pitch - we are no exception to that rule, I wish we were but we're not.

Quite rightly we're alarmed at this debt figure (whatever it is, it's huge) - but this is perhaps naivety on our part.

Put to one side the details of our own local ins and outs with the owner etc, but it has been common knowledge for some time that a club promoted to the Premier league will NOT make any money from that experience in Year 1 - the money starts (in profit terms) in Years 2 and 3.

Sometimes I think we are victims of our lengthy history of underachievement - as much as I love this club and always will, it is a sad fact that we have punched well below our weight since, and even before, the days of Jimmy Scoular.

I don't want to start any finer pointing boys, just the reflections of a 53 yo child who loves the club no matter what

City should be on a par with the Southamptons and West Broms of this world.

Anyhow CTID

disagree. Pretty sure that Burnley will make a profit from this season.


Fair enough we paid for the stand, 10m or what ever it was. But both our wage bill, and the money spend on players we crazy

Perhaps Burnley will - but quite likely they will be relegated too. And left with an old ground desperately in need of re-development - remember their wooden seats??

For every Burnley though, you will have far more QPRs. Look at how many clubs who are relegated end up in financial difficulties and struggle both on and off the pitch - we are no exception to that rule, I wish we were but we're not.

not sure what being relegated has to do with it. We spend about 40 million more than them, and i reckon our wage bill is at least 20 million more as well. thats a total of 60 million spend to AT LEAST finish in the same position as them. Even if they do go down theyll be in a fantastic position

Sadly
Tan Dalman and Choo need to make a trip to West Wales
see how a football club is supposed to be run

If we didn't spunk so much on players we would of made a profit wages were on par with other lower premiership teams

Quite rightly we're alarmed at this debt figure (whatever it is, it's huge) - but this is perhaps naivety on our part.

Put to one side the details of our own local ins and outs with the owner etc, but it has been common knowledge for some time that a club promoted to the Premier league will NOT make any money from that experience in Year 1 - the money starts (in profit terms) in Years 2 and 3.

Sometimes I think we are victims of our lengthy history of underachievement - as much as I love this club and always will, it is a sad fact that we have punched well below our weight since, and even before, the days of Jimmy Scoular.

I don't want to start any finer pointing boys, just the reflections of a 53 yo child who loves the club no matter what

City should be on a par with the Southamptons and West Broms of this world.

Anyhow CTID

disagree. Pretty sure that Burnley will make a profit from this season.


Fair enough we paid for the stand, 10m or what ever it was. But both our wage bill, and the money spend on players we crazy

Perhaps Burnley will - but quite likely they will be relegated too. And left with an old ground desperately in need of re-development - remember their wooden seats??

For every Burnley though, you will have far more QPRs. Look at how many clubs who are relegated end up in financial difficulties and struggle both on and off the pitch - we are no exception to that rule, I wish we were but we're not.

not sure what being relegated has to do with it. We spend about 40 million more than them, and i reckon our wage bill is at least 20 million more as well. thats a total of 60 million spend to AT LEAST finish in the same position as them. Even if they do go down theyll be in a fantastic position

Name me a relegated team who has been in fantastic position? Probably none only exception I remember was ncastle! Who kept same squad and went up strait away. Fact is if don't have immediate return clubs struggle financially? Take a look around leagues full of ex premier clubs, championship as about 10 maybe? And lower leagues have several also,