Discover and read the best of Twitter Threads about #hcafc

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Chelsea Loan Army

@ChelseaLoanArmy

🧵 I try to watch as much of the Chelsea Loanees as I can, but I can't watch every minute, so I reached out to one fan of every club with a Chelsea Loanee, to get the best opinion on their season...

Here we go: [A THREAD] 🪡

Nathan Baxter: 8.5/10

After starting as 2nd choice, Baxter came in & solidified a nervy defence.

Natural communicator, good with his feet & excellent shot-stopper, Baxter quickly became a fan favourite.

His ball playing ability, short & long, was crucial to our system. #hcafc

Nathan Baxter (continued): 8.5/10

Baxter has a great future.

He has the potential to become Chelsea No. 1 in the future, but I’m not sure how long he will wait. #CFC

He seems very ambitious & he wants to play. If he found the right club, I think he'd leave his boy hood team.

#CardiffCity 2019/20 accounts cover a season when they finished 5th in the Championship following relegation from the PL, losing in the play-off semi-final. Manager Neil Warnock was replaced by Neil Harris in November 2019, since succeeded by Mick McCarthy. Some thoughts follow.

#CardiffCity swung from £3m profit to £12m loss, as revenue fell £79m (63%) from £125m to £46m due to relegation and COVID, partly offset by profit on player sales rising £12m to £14m, while expenses were down £33m and no repeat of prior year £20m provision for the Sala transfer.

#CardiffCity £79m revenue fall was largely driven by broadcasting’s £70m (66%) decrease from £107m to £37m, due to lower TV money in Championship, though commercial also dropped £5m (48%) from £10m to £5m and match day fell £4m (53%) from £8m to £4m.

Stoke City’s 2019/20 financial results covered a season when they finished 15th in the Championship, two years after relegation from the Premier League. Manager Nathan Jones was replaced by Michael O’Neill in November 2019. Some thoughts in the following thread #SCFC

#SCFC pre-tax loss widened from £15m to £88m, as revenue dropped £21m (29%) from £71m to £50m and profit from player sales fell £15m (83%) from £18m to £3m. Total expenses increased £37m, mainly due to £43m impairment charge (reducing player values). Loss after tax was £86m.

The main reason for #SCFC £21m revenue reduction was broadcasting, which dropped £20m (39%) from £51m to £31m, mainly due to lower parachute payment, though match day also fell £1.6m (25%) from £6.4m to £4.8m. In contrast, commercial rose £0.9m (7%) from £12.9m to £13.8m.

#BarnsleyFC 2019/20 accounts covered the club’s first season back in the Championship following promotion from League One, when they narrowly avoided relegation by finishing 21st. Head coach Daniel Stendel was replaced by Gerhard Struber, since succeeded by Valerien Ismael.

#BarnsleyFC are owned by a group of international investors, led by Chien Lee of NewCity Capital and Paul Conway of Pacific Media Group, who follow the “Moneyball” approach of fellow investor, Billy Beane. They bought 80% from former custodian, Patrick Cryne, in December 2017.

Following promotion to the Championship, #BarnsleyFC reduced their loss from £3.4m to just £0.3m, as revenue increased £6.4m (83%) from £7.8m to £14.2m and profit on player sales rose £2.0m to £5.8m, partly offset by expenses growing £5.6m (37%) to £20.5m.

Queens Park Rangers 2019/20 financial results covered a season when they finished 13th in the Championship, an improvement on the previous year’s 19th place, though the campaign was disrupted by COVID-19. Some thoughts in the following thread #QPR

#QPR loss widened from £10m to £16m, as revenue fell £16m (47%) from £34m to £18m, though expenses were cut £11m (24%) and profit on player sales increased £3m to £6m. Also impacted by £4.5m write-off of previous training ground development.

The main reason for #QPR £16m revenue reduction was broadcasting, which dropped £14m (62%) from £22m to £8m, as parachute payments stopped, though gate receipts were also down £1.4m (25%) from £5.4m to £4.0m, while commercial fell £1.4m (19%) from £7.2m to £5.8m.

Swansea City’s 2019/20 accounts covered a season when they finished 6th in the Championship under head coach Steve Cooper, thus reaching the play-offs, but were eliminated in the semi-final by Brentford. Some thoughts in the following thread #Swans

#Swans swung from a pre-tax loss of £7m to a profit of £2.7m, despite revenue falling £18m (27%) from £68m to £50m and profit from player sales dropping £12m (41%) from £30m to £18m, as total expenses were reduced by £40m (38%). Profit after tax was £1.7m.

The main reason for #Swans £18m revenue reduction was broadcasting, which dropped £13m (25%) from £52m to £39m, mainly due to lower parachute payment, though commercial was also down £2m (26%) to £6m and match day fell £1.7m (26%) to £4.8m. Player loans were down £1.7m to £0.2m.

Birmingham City’s 2019/20 financial results covered a season when they finished 20th in the Championship, narrowly avoiding relegation. Manager pep Clotet was replaced by Aitor Karanka in August 2020, since succeeded by Lee Bowyer. Some thoughts in the following thread #BCFC

#BCFC loss increased from £8.4m to £18.2m, as prior year included £17m profit on the sale of the stadium, partly offset by profit on player sales rising £7m to £12m. Revenue fell £0.5m (2%) from £23.3m to £22.8m, while expenses were flat overall.

COVID-19 impacted #BCFC revenue with match receipts falling £0.4m (8%) to £4.7m, while commercial was down £0.9m (9%) to £9.3m. In contrast, broadcasting rose £0.9m (11%) to £8.8m, while other operating income increased £0.9m to £1.5m, including £819k COVID grant.

West Bromwich Albion’s 2019/20 accounts covered a season when they finished 2nd in the Championship, thus securing promotion to the Premier League after a 2-year absence. Manager Slaven Bilic was subsequently replaced by Sam Allardyce in December 2020. Some thoughts follow #WBA

#WBA pre-tax loss widened from £7m to £23m, mainly due to promotion bonuses and COVID. Revenue fell £17m (24%) from £71m to £54m, while operating expenses increased £19m (22%), partly offset by profit on player sales rising £19m to £29m. Loss after tax up from £6m to £21m.

The main reason for #WBA £17m revenue reduction was broadcasting, which dropped £12m (23%) from £53m to £41m, mainly due to lower parachute payment, though gate receipts also decreased £2.5m (34%) to £4.8m, while commercial was down £2.4m (22%) to £8.4m.

#ReadingFC 2018/19 financial results covered a season when the #Royals finished 14th in the Championship. Manager José Gomes was replaced in October 2019 by Mark Bowen, who has since been succeeded by Veljko Paunovic. Some thoughts in the following thread.

This was the third season that #ReadingFC were under the control of Chinese businessman Dai Yongge (and his sister Dai Xiu Li), who own 96% via Renhe Sports Management Co Ltd. Bowen said, “He has spent a hell of a lot of money on the club and still wants to spend money.”

#ReadingFC loss increased from £30m to £42m, largely due to no repeat of prior year’s £8m from sale of the training ground and £2m other operating income. Revenue dropped £3m (16%) from £21m to £18m, while profit on player sales fell £0.8m to £1.6m. Expenses cut £2m (3%).

Leeds United’s 2019/20 accounts cover a season when they won the Championship under Marcelo Bielsa, thus securing promotion to the Premier league after a 16-year absence, despite unprecedented challenges posed by the COVID-19 pandemic. Some thoughts in the following thread #LUFC

#LUFC paid a price for success, as their pre-tax loss widened from £21m to £62m, despite revenue rising £5m (11%) from £49m to £54m, as significant investment led to expenses increasing £44m (52%), including £20m promotion bonuses and £7m TV rebate to broadcasters.

The main reason for #LUFC £5m revenue growth was £7m (25%) increase in commercial income from £27m to £34m (largely merchandising), as gate receipts fell £1.2m (9%) to £11.4m and broadcasting was down £0.5m (5%) to £8.7m. Profit on player sales dropped £6m to £10m.

#BristolCity 2019/20 financial results cover a season when they finished 12th in the Championship. Head coach Lee Johnson was replaced by Dean Holden in July 2020. Finances were impacted by COVID-19. Some thoughts in the following thread.

#BristolCity swung from £11m profit before tax to £10m loss, mainly due to profit on player sales falling £12m from £38m to £26m, while revenue dropped £3m (10%) from £30m to £27m and expenses rose £6m (10%) to £64m. After tax, £10m profit to £9m loss.

#BristolCity revenue decrease was mainly driven by commercial falling £2.3m (14%) to £13.9m, though match day also dropped £1.2m (21%) to £4.8m, as 5 games were played behind closed doors. On the other hand, broadcasting increased £0.5m (6%) to £8.6m.

Hull City’s 2019/20 financial results covered a season when they finished 24th in the Championship, so were relegated to League One under head coach Grant McCann. COVID-19 had a substantial impact on the club’s operations. Some thoughts in the following thread #hcafc

Despite the impact of the pandemic, #hcafc still managed to post a pre-tax profit of around £3m, mainly due to profit on player sales rising £18m to £23m. Revenue fell £32m (67%) from £48m to £16m, as parachute payments stopped. Partly compensated by expenses being cut by £14m.

The main driver of the revenue reduction was broadcasting, which fell £32m (79%) after parachute payments from the Premier League stopped, but the other revenue streams also declined: match day was down £0.8m (13%) to £5.3m, while commercial was £0.2m (10%) lower at £2.1m.

Currently researching the Allam reign in chronological order. A THREAD #HCAFC

So far they've tried to blackmail the council into giving them an entire stadium & the land surrounding it for nothing by threatening to move City to Melton, increased season ticket prices (after suggesting tickets will be £5 or £10 upon taking over) #HCAFC

Removed any pictures relating to Hull FC in the stadium City share with them (offering to put them back up for a price), suspended and sacked Nick Barmby, started sending emails out from 'Hull City Tigers', labelled the word City as 'lousy' and 'common' #HCAFC

Nothing should come as a surprise in football, but it was still a shock when Wigan Athletic entered administration this month immediately after the new owners, Next Leader Fund (NLF), took control. This thread looks at how this happened, including #WAFC latest financials.

First up, in November 2018, after 23 years as owners, the Whelan family sold #WAFC to Hong Kong based International Entertainment Corporation (ICE), a company that runs hotel and casino business in the Philippines, for £22m (price £15.9m plus taking on £6.5m loans).

More recently in June 2020, ICE sold #WAFC to NLF for £17.5m, giving ICE a nice £1.6m profit, plus the repayment of the £24.6m they had invested. However, the club was immediately put into administration, as a result of the new owners not putting any more funds into the club.

I had a couple of requests for new financial fact sheets for Stoke City and Hull City. To be clear, this is not new data, but a summarised presentation of old figures. The usual detailed analysis is available on my timeline #SCFC #HCAFC

Despite relegation, #SCFC cut loss from £30m to £15m, as revenue dropped £57m to £71m, but lower wages £38m and impairment £28m. Steep operating losses offset by high player sales. 2nd highest revenue and wages in Championship. Debt to owner up to £141m and transfer debt to £67m.

#HCAFC made profits in 5 of last 6 seasons, though fell from £24m to £3m in 2019, due to lower player sales. Lowest wages to turnover ratio in Championship of 51%. Repaid £50m of debt in last 3 years. Only £2m spent on players in 2019. 83% of revenue from TV (parachute payments).

#BrentfordFC 2018/19 financial results covered a season when they came 11th in the Championship, their 5th consecutive top half finish, a great achievement for a club with such low income, especially as head coach Dean Smith left for #AVFC in October, replaced by Thomas Frank.

#BrentfordFC swung from £4m loss before tax to £24m, very largely due to £14m sale of land to stadium developers & profit on player sales rising by £13m to £27m. Revenue grew £2.6m (21%) to £15.2m, while expenses were £3.5m higher. Profit after tax was £20m due to £4m tax charge.

All three #BrentfordFC revenue streams grew with broadcasting contributing the largest increase, up £1.6m (23%) to £8.8m, followed by commercial, up £0.7m (30%) to £3.0m, and ticketing income, up £0.3m (10%) to £3.4m. Other operating income (player loans) up £2.3m to £2.7m.

#ReadingFC 2018/19 financial results covered a season when the #Royals finished 20th in the Championship for the second consecutive year. Manager Paul Clement was replaced in December 2018 by José Gomes, who was in turn succeeded by Mark Bowen October 2019. Some thoughts follow.

This was the second season that #ReadingFC were under the control of Chinese businessman Dai Yongge (and his sister Dai Xiu Li), who own 95% via Renhe Sports Management Co Ltd. Bowen said, “He has spent a hell of a lot of money on the club and still wants to spend money.”

#ReadingFC loss increased by £9m from £21m to £30m, despite revenue rising £3m (18%) from £18m to £21m, and increases in profit on player sales (up £1m to £2m) and property disposals (up £2m to £8m). In contrast, other operating income fell £8m to £2m and expenses were up £7m.

Leeds United’s 2018/19 accounts cover “one of the most exciting years in over a decade” under renowned coach Marcelo Bielsa, though it ultimately ended in disappointment, as they finished 3rd in the Championship before losing to #DCFC in the play-offs. Some thoughts follow #LUFC

#LUFC loss widened from £4m to £21m, despite revenue rising £8m (20%) from £41m to £49m, as profit on player sales dropped £2m to £16m and expenses increased by a chunky £23m, as owner Andrea Radrizzani made significant investments to turn Leeds into promotion contenders.

The main reason for #LUFC £8.2m revenue growth was a £5.4m (25%) increase in commercial income from £21.8m to £27.2m (mainly merchandising and hospitality), though gate receipts also rose £1.4m (12%) to £12.6m, while broadcasting was up £1.5m (19%) to £9.1m.

Middlesbrough’s 2018/19 financial results covered a season when they finished 7th in the Championship, just missing out on a play-off position. Former player Jonathan Woodgate replaced Tony Pulis as manager in July 2019. Some thoughts in the following thread #Boro

#Boro improved from a £6m loss before tax to a £2m profit, even though revenue dropped £6m (10%) from £62m to £56m and expenses were £3m higher, because profit on player sales more than doubled from £15m to £33m.

#Boro £6m revenue decline was very largely driven by broadcasting’s £6m (12%) fall from £47m to £41m, due to a smaller parachute payment, though gate receipts also dropped £1m (15%) from £7m to £6m. Commercial rose slightly by £0.3m (4%) from £8.3m to £8.6m.

#BristolCity recently published their 2018/19 financial results, covering a season when they finished 8th in the Championship, their highest position for 11 seasons and just 4 points off a play-off position. Some thoughts in the following thread.

#BristolCity reported £11m profit before tax, a significant improvement on the prior season’s £25m loss, mainly thanks to profit on player sales surging from hardly anything in 2017/18 to £38m last season. Owner Steve Lansdown described the results as “a milestone” for the club.

#BristolCity revenue also rose by £4m (16%) from £26m to £30m, mainly due to commercial income increasing £4.6m (39%) to £16.1m, though broadcasting was also up £0.4m (5%) to £8.1m. On the other hand, match day income fell £0.7m (10%) to £6.0m.

I recently wrote about the importance of the cash flow statement in assessing the financial performance of a football club, focusing on the Premier League. Since then I have had a few requests to do the same for the Championship, so let’s take a look in the following thread.

A club’s profit and loss account is easy to understand, i.e. basically revenue less expenses (mainly player wages), but this is a notional profit based on the accountants’ accruals concept, which can be very different from actual cash movements.

This is important, as the main reason that football clubs fail is cash flow problems. It does not matter how large your revenue is (or your profits are), if you do not have the cash to pay your players, suppliers or indeed the taxman, then you will find yourself in trouble.

Hull City’s 2018/19 financial results covered a season when they finished 13th in the Championship. Manager Ian Adkins resigned in June, replaced by Grant McCann. The owners, Assem and Ehab Allam, have been looking to sell the club for some time. Some thoughts follow #hcafc

#hcafc profit before tax decreased from £24m to £3m, mainly due to profit on player sales falling by £26m from £31m to £5m. Revenue was down £7m (13%) to £48m, because of lower parachute payments. Partly compensated by expenses being cut by £12m.

The main driver of #hcafc £7m revenue reduction was a £6m cut in parachute payments from the Premier League from £43m to £37m, but the other revenue streams also declined: match day was down £1.1m (15%) to £6.1m, while commercial was £0.6m (20%) lower at £2.3m.

Sheffield Wednesday have finally published their accounts for the 2017/18 season, when they finished 15th in the Championship. Manager Carlos Carvalhal left the club by mutual consent in December, to be replaced by Jos Luhukay. Some thoughts in the following thread #SWFC

As a technical point, it’s worth noting that #SWFC have changed their accounting close date from May 31st to July 31st, so the 2017/18 accounts covered a 14 month period, meaning a small £1.2m increase in turnover, but an additional 2 months of expenses.

#SWFC swung from a £20.8m loss to a £2.6m profit, entirely due to £38m once-off profit from selling the Hillsborough stadium. Revenue was only up £1.8m (8%) to £25.2m, while expenses surged £18m (41%) to £63m. Profit on player sales rose £1.7m to £2.3m.

Sunderland’s 2017/18 financial results covered a second successive relegation. Having finished bottom of the Premier League in 2016/17, they repeated this feat in the Championship to drop into League One. Some thoughts in the following thread #SAFC

This was the last season under former owner Ellis Short before Stewart Donald bought the club in May 2018. Since then, the financial picture at #SAFC has greatly changed, but it is still instructive to look at these financials to understand the reasons for their fall from grace.

Following relegation #SAFC loss almost doubled from £10.2m to £19.9m, as revenue basically halved from £123.5m to £63.7m and profit on player sales fell £26.5m to £6.6m. Offset by once-offs: £8.2m profit on sale of Charlie Hurley Centre; no repeat of 16/17 £9.7m Alvarez payment.

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