Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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Chavski announce a £44.4m loss on £206.4m turnover in 2009 
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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Cosmo
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Registered: 29th Mar 01
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Turnover is down too which is worrying for them
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Danny P
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Registered: 20th Nov 02
Location: Cleckheaton, West Yorkshire
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Jesus.
I was worried about our £4mill loss, but not anymore
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Cosmo
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Registered: 29th Mar 01
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Although on a good note for them, money bags has converted all the loans he put in to the club in to equity so they effectively have no debt....although they consistently run at a cost and have astronomical out goings so they'll soon be back in the red.
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Nath
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Registered: 3rd Apr 02
Location: MK
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£12m of that was compo to 1 manager 
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Pocket change to the ruski
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Cosmo
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quote:
Originally posted by mwg
Pocket change to the ruski
The guy has lost a few billion in the credit crunch - gotta feel for him.
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p
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Registered: 20th Apr 04
Location: England
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Debt free    
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Rob_Quads
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Registered: 29th Mar 01
Location: southampton
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Can someone explain how the whole dept free thing works as I don't understand the funny money system.
Does the 'loss' each year include paying back the loan / converting it into assets
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Cosmo
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Basically Roman has funded all the costs of the club that they couldnt afford (so the £60m loss last year, £40m this year, etc.) via loans.
He has now basically said wipe clear those loans and turn them in to shares in the company (so if the company formerly had 1000 shares it may now have 1500) - all of which he owns.
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Jamescorsa97
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Registered: 19th Aug 04
Location: Middlesbrough Drives: Cliosport 182
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What you failed to mention is that it is also their 4th consecutive year that they have reduced their debt.
44m also is nothing but interest to him.
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Cosmo
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quote:
Originally posted by Jamescorsa97
What you failed to mention is that it is also their 4th consecutive year that they have reduced their debt.
44m also is nothing but interest to him.
What you've failed to understand is this is the amount JUST for that year.
The club made something like £60m loss the year before, so over £100m in the two years. It was more than that the year prior to this on its own.
He has just written off about £350m worth of debt/loans.
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Jamescorsa97
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Registered: 19th Aug 04
Location: Middlesbrough Drives: Cliosport 182
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How have I failed to understand anything?
I never said you were wrong, just something you failed to mention therefore I never failed at all.
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Cosmo
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My bad, I read your post wrong.
Its reduced, but thats expected as they havent spent anything like they have in previous seasons.
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Marc
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Registered: 11th Aug 02
Location: York
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Good news, but a drop in the ocean for them!
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