This is a thread for a grown up discussion of Brighton's finances. Can we keep any laughter in the LOL or Insights threads :p
I don't think their 30/6/2013 accounts have been readily looked at across the internet so I've got them and itemised some of the items in the P&L (see attached) and it throws up some interesting issues. I'm an actuary rather than an accountant so would be interested in any views from our resident bean counters and any sensible NSCer lurkers but a few things that jump out to me are:
1. just over a third of their income comes directly from ordinary ticket holders. They do pretty well on sponsorship and advertising but its difficult to see where they can go too much further increasing income from the ordinary fan ?
2. it shows how important the central payment from the Prem League is to clubs in the Championship and why the Chairmen had to vote in the EPPP thing
3. You can see why they are struggling to get players in. Their wage bill seems pretty big and needs managing I'd guess !
4. The mega big elephant in the room. The 'Administrative & operational costs' item which I've been harping on about for ages !! The 2012 accounts suggested that this was a consequence of having a 'state of the art' stadium ie they were effectively fixed overheads ! The 2013 accounts seem to confirm this since they say they are 'reasonable compared to last year' and are a bit higher due to redundancy payments ie they are here to stay ! If they are fixed overheads then that really is a big worry and would suggest the Amex could turn out to be a massive financial mistake !
Unless I'm missing something I can't see how Brighton can possibly get their losses substantially down without Premier League football ? (accounts say they need to get their losses down to 8m for YE14). I can't see ticket income increasing much. They could improve their commercial revenue a bit and maybe reduce the Admin & operating costs a tad but that would be a few mill max here and there.
They obviously need to reduce the wage bill but if I was running this company I'd be worried. Obviously they need TB to be around else Administration is a certainty unless they get promoted.
I don't think their 30/6/2013 accounts have been readily looked at across the internet so I've got them and itemised some of the items in the P&L (see attached) and it throws up some interesting issues. I'm an actuary rather than an accountant so would be interested in any views from our resident bean counters and any sensible NSCer lurkers but a few things that jump out to me are:
1. just over a third of their income comes directly from ordinary ticket holders. They do pretty well on sponsorship and advertising but its difficult to see where they can go too much further increasing income from the ordinary fan ?
2. it shows how important the central payment from the Prem League is to clubs in the Championship and why the Chairmen had to vote in the EPPP thing
3. You can see why they are struggling to get players in. Their wage bill seems pretty big and needs managing I'd guess !
4. The mega big elephant in the room. The 'Administrative & operational costs' item which I've been harping on about for ages !! The 2012 accounts suggested that this was a consequence of having a 'state of the art' stadium ie they were effectively fixed overheads ! The 2013 accounts seem to confirm this since they say they are 'reasonable compared to last year' and are a bit higher due to redundancy payments ie they are here to stay ! If they are fixed overheads then that really is a big worry and would suggest the Amex could turn out to be a massive financial mistake !
Unless I'm missing something I can't see how Brighton can possibly get their losses substantially down without Premier League football ? (accounts say they need to get their losses down to 8m for YE14). I can't see ticket income increasing much. They could improve their commercial revenue a bit and maybe reduce the Admin & operating costs a tad but that would be a few mill max here and there.
They obviously need to reduce the wage bill but if I was running this company I'd be worried. Obviously they need TB to be around else Administration is a certainty unless they get promoted.
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