From the accounts:
After having taken into account a range of possible outcomes arising from on-pitch performance, the forecasts and predictions adopted as a basis for going concern show a further funding requirement in excess of the current level of funding facilities immediately available to the Director (Al Hasawi)," the report reads.
"Therefore the Director acknowledges a material uncertainty in the event the Company's ultimate beneficial owner (Al Hasawi and the Al Hasawi family) becomes unwilling at any time to continue to provide funding support to the business to the general level that it previously provided.
"It should be noted that there are management initiatives that can be pursued to mitigate any potential funding shortfall including the sale of players and other business assets."
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We've had £17m loans written off by fawaz to keep us within spec, with losses of only 2.2m.
How have we lost ~20m that year when we were under embargo and shipped out half the deadwood out? I don't even know where/if/which player sales might be involved.
Also reads as if selling brereton is already part of the business model come summer.
2015/2016 accounts
posted on 16/2/17
I'm not sure if that reads as veiled threat or as a confession, but either way it seems to imply that the end is nigh as far as Fawaz and Forest are concerned.
That would be a good thing, even if you have to drop a division to achieve it, but the only certainty of that paragraph is that there's uncertainty ahead.
posted on 16/2/17
The club raised £16M in player sales in 16/17 season. We had to prove a max of £13m loss for the forthcoming season in 2015 to get out of FFP so the figures don't add up.
posted on 16/2/17
The way I read it we are allowed under FFP to lose a maximum of £39 million over 3 seasons 14/15,15/16 and 16/17. We lost £22 million in 14/15, the actual loss had FAH not written off £17.7 million for 15/16 would have put us back into embargo. The fact he has written off £17.7 million means we can lose £14 million in 16/17. The sale of Burke and lansbury go into the 16/17 accounts so should mean no problems going forward FFP wise and will help towards running costs for 16/17 and pay for Zach Clough.
posted on 16/2/17
Also how has retail risen from £232,000 to nearly £2.5 million ??
Seems strange especially as season ticket sales are down and attendances
posted on 16/2/17
So does the sale of Antonio factor in at all for this window?
The year before, for the 14-15 window we lost 22' with us broking even on transfer fees. Would this mean we lost more money under embargo and was just mitigated by sales and debt write offs? or am I completely off the mark? 😵
God knows what counts and what doesn't with these returns
posted on 16/2/17
My head hurts...