Swansea City reveal £14.6m profit

So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.


How does that work then.

Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.

It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.

So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.


How does that work then.

Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.

It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.

Speaking of subsidies, how much did CCFC pay Cardiff Council for the prime land the stadium, retail park & House of Sport is built on?

So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.


How does that work then.

Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.

It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.

Speaking of subsidies, how much did CCFC pay Cardiff Council for the prime land the stadium, retail park & House of Sport is built on?

no idea do you know???

You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.

And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.

No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.

Though I doubt they would remember as they weren't fans then, only been going the last two seasons

And now we make over £14m profit.

How times change.

If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.

The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.

Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.

what i will say is that swans are a very generous club building extension on their council home for themselves and other tennants (ospreys) who in right mind would build extension on something they dont own, and do it to benefit other tennants aswell! very odd indeed!!!

So Swansea City are about to post a £14m profit and Swansea Council receive not a single penny in income from the Liberty Stadium.


How does that work then.

Swansea Council do not pay a penny towards the upkeep of the stadium. That's how that works.

It is usual for commercial tenants to pay rent for the property they occupy and to pay for the upkeep of the property in addition
The fact there is no rent means there is a subsidy in place.

Speaking of subsidies, how much did CCFC pay Cardiff Council for the prime land the stadium, retail park & House of Sport is built on?

Can't tell you off hand but the figures are a matter of public record and are defensible. CCFC were also responsible for paying the cost of various road improvements,providing a bus terminus and park and ride spaces and building a new athletics stadium etc.
This would be normal commercial practice where local authority land is developed.
As would be charging full rent for a brand spanking new -even if poorly designed -property to a tenant who had put nothing into the development cost with the tenant also bearing the costs of upkeep in addition.

You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.

And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.

No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.

Though I doubt they would remember as they weren't fans then, only been going the last two seasons

And now we make over £14m profit.

How times change.

If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.

The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.

Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.

Yes.

3.1
a.
ii.

http://www.planetswans.co.uk/NFL/CVA.pdf

Lol ffe are you lot for real??your what 70 mil in debt and picking holes in our success for 1.5 mil we were in debt for?you very sad bitter twats.
Ps inland revenue got there money back as did most of who was owed as they are still involved with the club and are niw doing well from the clubs success.
So get a grip ffs.
And as for the over paid has beens?i refer to the fowler and other players you have paid massive for nothing.
Truth is you are all hurting at how we have just left you standing,and all by staying out of debt and yoy are the joke of welsh football with huge debt and and owners who treat you like a play thing???
Lol bless

Lol ffe are you lot for real??your what 70 mil in debt and picking holes in our success for 1.5 mil we were in debt for?you very sad bitter twats.
Ps inland revenue got there money back as did most of who was owed as they are still involved with the club and are niw doing well from the clubs success.
So get a grip ffs.
And as for the over paid has beens?i refer to the fowler and other players you have paid massive for nothing.
Truth is you are all hurting at how we have just left you standing,and all by staying out of debt and yoy are the joke of welsh football with huge debt and and owners who treat you like a play thing???
Lol bless

we are real cant say same about your lot! but never mind at least people talk about us for whatever reason! shame people are not so keen on talking about your team now! wonder why???

as for hurting ffs get a grip we support city! who gives a fck about small town up m4!

Ps allen its in black and white about the plans to extend the ground in stages,starting with the east.
Its on the evening post and it allso says when the club are sure they are staying in the prem the tenders will go out for the plans to be drawn up.
But dont take my word for it just go on seansea city offical site!
You should find it..

You seem to really, really care about this but I'm not about to announce which company I own on a public forum. But, it's the truth, simple as that.

And, i'm in no way defending SCFC and how they dealt with companies many years ago, they were terrible, as I have already said.

No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.

Though I doubt they would remember as they weren't fans then, only been going the last two seasons

And now we make over £14m profit.

How times change.

If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail.

The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.

Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

Ps allen its in black and white about the plans to extend the ground in stages,starting with the east.
Its on the evening post and it allso says when the club are sure they are staying in the prem the tenders will go out for the plans to be drawn up.
But dont take my word for it just go on seansea city offical site!
You should find it..

Not going to bother with checking the reports but as you are obviously very familiar with what is happening do the reports mention the small matter of rental payments for the new extended stadium?
Are the Council going to foot the bill for any work assuming it happens?
Yet more subsidy from taxpayers?

No, just reminding the Swansea fans that come on here mocking our financial stuation, that your little club was in a worse position not too long ago.

Though I doubt they would remember as they weren't fans then, only been going the last two seasons [/quote]

And now we make over £14m profit.

How times change.[/quote]

If this is true, and there are some creditors who have been paid off and some who haven't (like the inland revenue for example) then someone is in a lot of trouble as this action is fraudulent. So a good idea not to go into any detail. [/quote]

The inland revenue and HMRC were both paid in full as was the rule then as they had preferred creditor status.[/quote]

Can you substantiate that ?
They may have been preferred creditors, but if there was no money to pay them then they wouldn't have been paid.[/quote]

Yes.

3.1
a.
ii.

http://www.planetswans.co.uk/NFL/CVA.pdf[/quote]


I was reading that when you posted this.However if you go down to the bottom you'll see not all of it was secured and thus only 5% of that balance paid.

Lol ffe are you lot for real??your what 70 mil in debt and picking holes in our success for 1.5 mil we were in debt for?you very sad bitter twats.
Ps inland revenue got there money back as did most of who was owed as they are still involved with the club and are niw doing well from the clubs success.
So get a grip ffs.
And as for the over paid has beens?i refer to the fowler and other players you have paid massive for nothing.
Truth is you are all hurting at how we have just left you standing,and all by staying out of debt and yoy are the joke of welsh football with huge debt and and owners who treat you like a play thing???
Lol bless

They didn't get all of it though. Read the statement of affairs at the bottom of the linked report.

and you've now changed your tune from 'everyone got paid' to 'most who are still involved'.

You can try and dodge it, sugar coat it, pretend it didn't happen, but the simple fact is, for all you go on about our debts you are the club that went through the courts to stiff everyone, not us.

Oh and that wasn't the first time was it ?

TBH I don't know why you lot have to go through this time and time again when you have got the advantage on the field where it counts. Almost like you are hoping upon hope that one day we would go through so we can't keep reminding you what you did.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

ah well dont see point of arguing with them as they are in denial again! and for this reason i am out!!!!

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

You clearly give a f**k as you keep replying you f*cking stupid c**t

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

If a company pays no rent for the property it occupies or does not have any loan and interest re-payment obligations in respect of the cost of developing the property, the effect on the balance sheet and the profit and loss account will be unrealistically flattering.

However you look at it the company is being subsidised.

In the case of a private company occupying a publicly owned building there is also a large question over the morality of the situation particularly when the said company has a history of playing fast with the insovency rules and is now crowing over profit figures.

It's almost like someone taking housing benefit then running a brothel from the property in question.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

If a company pays no rent for the property it occupies or does not have any loan and interest re-payment obligations in respect of the cost of developing the property, the effect on the balance sheet and the profit and loss account will be unrealistically flattering.

However you look at it the company is being subsidised.

In the case of a private company occupying a publicly owned building there is also a large question over the morality of the situation particularly when the said company has a history of playing fast with the insovency rules and is now crowing over profit figures.

It's almost like someone taking housing benefit then running a brothel from the property in question.

“The council built the stadium using well-being powers and one of the conditions of those powers is that the primary purpose should not be to raise money. Instead, it should promote or improve well-being."

That's the hand that we were dealt, any sensible business would take that.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

No it isn't although I actually thought it would be more given the money received for Rogers and the position you finished. I think Blackpool got £16m when they were relegated.

By the way, in terms of the CVA etc.. I'm not having a go, your directors did what was needed to be done to keep the club alive, and it succeeded. Its not unknown in business and reading back over the old articles it must have been a horrendous time for your fans. I can't say I took that much notice at a time as we had our own issues. It would be a nice gesture id the balance of the debts were paid off, but its not legally required.

However given that you have been through all this I do think that your fans should think twice before trying to make a big deal of our financial issues - it does make you look one-eyed and well for want of another word - PETTY.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

No it isn't although I actually thought it would be more given the money received for Rogers and the position you finished. I think Blackpool got £16m when they were relegated.

By the way, in terms of the CVA etc.. I'm not having a go, your directors did what was needed to be done to keep the club alive, and it succeeded. Its not unknown in business and reading back over the old articles it must have been a horrendous time for your fans. I can't say I took that much notice at a time as we had our own issues. It would be a nice gesture id the balance of the debts were paid off, but its not legally required.

However given that you have been through all this I do think that your fans should think twice before trying to make a big deal of our financial issues - it does make you look one-eyed and well for want of another word - PETTY.

Blackpool made £11.4 million after spending nothing and paying peanuts.

Swansea made £14.6 million after spending £14 million on players. Incredible really.

Has Hollins been paid his £200k, or Lewis his £80k ?

The details are here... http://www.planetswans.co.uk/NFL/CVA.pdf

Looks like some PAYE/VAT was preferential and a staged agreement made, but quite a lot not.
Interesting how Mr Nurse bought the £800k 'loan' so that he had a big influence in getting it through(for a lot less than £800k - under £50k in fact). I've got a vague recollection that he couldn't stay on the board as he got banned from being a director -although it might have been something else.

But seriously 2 things

1. sl69's claim they have all been paid is obviously crap
2. If some have and some haven't the other jack poster had best keep it to himself.

Fair play though it has been some turnaround.

How do you work out that only some of the IR & HMRC money was classed as "Preferred Creditor"?

From recollection, Mel Nurse fell out with some other board members and resigned his directorship several years later. He played a huge part in our survival by purchasing the debt off Ninth Floor (one of our previous owners) and will always be a legend for doing so.

Read the statement of affairs at the bottom.

It splits the debts between pref and non-pref.

I don't want to say something about Nurse that might be wrong as its a long time ago I saw that one of your directors was disqualified and am not 100% certain who it was -and don't want to be sued if its not him

The vast majority (albeit seemingly not the whole amount as I previously stated) is though.

Anyway, back to the original point..... £14.6m profit. No too shabby eh

No it isn't although I actually thought it would be more given the money received for Rogers and the position you finished. I think Blackpool got £16m when they were relegated.

By the way, in terms of the CVA etc.. I'm not having a go, your directors did what was needed to be done to keep the club alive, and it succeeded. Its not unknown in business and reading back over the old articles it must have been a horrendous time for your fans. I can't say I took that much notice at a time as we had our own issues. It would be a nice gesture id the balance of the debts were paid off, but its not legally required.

However given that you have been through all this I do think that your fans should think twice before trying to make a big deal of our financial issues - it does make you look one-eyed and well for want of another word - PETTY.

Blackpool made £11.4 million after spending nothing and paying peanuts.

Swansea made £14.6 million after spending £14 million on players. Incredible really.

I take it you don't know an awful lot about accounting in football ?

Transfer fees will be spread over the player's contract, so try accounting for 1/3- 1/4 of any transfer fees, most likely less than they received for Rodgers.

Also Blackpool made over £20m profit http://www.mirrorfootball.co.uk/news/Bl ... 71876.html

http://www.footballeconomy.com/content/ ... rd-profits

Still feel free to spout more bollox.