POOR old Preston!

Interesting sequence of tweets if you read the 15 replies.

Income 13.8m of which
8m EPL & televised games
3m ticket sales
1.4m rental income
1.1 Commercial and media

Wages £178 for every £100 of income

69m losses over the years funded by interest free owner loans.

77m owed to parent company.
 
Football is crazy & the whole lot needs a radical shake up from top to bottom. Will it happen though, I doubt it as there's too many powerful people with their heads in the trough. It all knocks on from the rich Premier league clubs & subsequently to compete at lower levels it becomes unsustainable on gate receipts, marketing & cash for being in a certain division etc. The only reasons to own a football club legitimately are because you are a fan, or are trying to put something back into the community. Anything else is probably either a tax fiddle or vanity project.
 
BigHandsOliverKahn said:
Seems like the family basically use the football club as a way to pay less tax on obscene profits from their other businesses.
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Well not really. The tax deduction makes subsidising the football club slightly cheaply on a net basis. But it only works if they actually are losing that much money …

The whole thing is a madhouse. Not just PNE, though they are a pretty good example of spending a lot of money with not all that much to show for it.

Would the world really be a worse place if the average second-tier footballer was only making £500,000 per year instead of £750,000 per year?
 
In the video at the bottom of the Twitter thread, Maguire lists Preston as one of the well run Championship clubs.....
 
voyeur said:
In the video at the bottom of the Twitter thread, Maguire lists Preston as one of the well run Championship clubs.....
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I was about to say this myself. Maguire did an interview with Lancashire Post last night where he seemingly praises them and puts them in his top 5 best run clubs in the division (we didn't make it!). Scary to think with those losses it's not seen as an issue....

Link
 
BFC95 said:
I was about to say this myself. Maguire did an interview with Lancashire Post last night where he seemingly praises them and puts them in his top 5 best run clubs in the division (we didn't make it!). Scary to think with those losses it's not seen as an issue....

Link
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He mentions us as an afterthought in the video, like we are a new and not yet established Championship club. Presumably with Preston he considers the loans are not a threat because of their source.
 
voyeur said:
Interesting sequence of tweets if you read the 15 replies.

Income 13.8m of which
8m EPL & televised games
3m ticket sales
1.4m rental income
1.1 Commercial and media

Wages £178 for every £100 of income

69m losses over the years funded by interest free owner loans.

77m owed to parent company.
Click to expand...
Those ticket sales will also include the majority of this season's STs as accounts are made up to the end of June and the cheap ST offer finished on the 30th June.
 
Letting handouts rack up so the club owed over £77m to their parent company when the accounts were published - and this will now be even more as K Maguire mentions another £5m - must be questioned 🤷‍♂️
 
Shows why some think we can’t compete on players, as we are not racking up a load of debt. Few more clubs to go into admin over the next 12 months covid has fooked a few of them
 
voyeur said:
But not the previous season's.
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Some of the previous season. Obviously on the day sales for this season will be well down, compared to last season, due to the number of cheap STs so expect revenue from ticket sales in next year's figures to be quite a bit lower
 
So in just over 12months, the Hemmings family have said they will be pulling all their financial support for the club....

Their wage structure will implode and will have to drop from £21.7m to around £5.3m as their other expenditure stands at £8.5m.
Even if PNE decide to pay the maximum of £8m in wages according to FFP
It's going to mean redundancies all around in support services and a massive drop in expenditure on the club infrastructure....

OMG...No more flags..!!

Season tickets will go up......That could see a drop of (around) 20% of floating fans who will just disappear......so even less income now.

Instantly Knobbers are going to say, that some mega rich businessman or middle eastern country will buy them
But who in their right mind would invest millions into an underachieving mid table Championship club that only turns over £13m a year but has had £70m pumped into it......and has won nothing since 1889

Makes sense that the Riddler was discussing, putting the whole club into administration in 2024

They are buggered....... and this just made my Friday......
So bye, bye Knobbers.......I hope Deepdale becomes an Aldi and you have to ground share with AFC Fylde in 2026
 
Anyone know how this relates to FFP? Presumably they aren't breaching it but I've lost track of what the rules are.
 
I wonder what would happen if any of the other Hemmings businesses hit the skids and they weren't so keen to keep spunking money on PNE??
I know they're already looking to stop bailing them out (£5m put in recently and those losses and loans keep building...with zero chance of getting anything out of it unless they sell the site to Tesco!!)
If I was a family member I'd be in my brothers ear...ffs dad's dead, none of us give a shit about pne any more, the fans are a bunch of ungrateful deadlegs, do whatever youve gotta do but just stop losing money on that shit!!!)

As I said the other day...PNE Administration Party...you're all invited...bring your own clapstix and butter pie 🧡🧡🧡
 
voyeur said:
Interesting sequence of tweets if you read the 15 replies.

Income 13.8m of which
8m EPL & televised games
3m ticket sales
1.4m rental income
1.1 Commercial and media

Wages £178 for every £100 of income

69m losses over the years funded by interest free owner loans.

77m owed to parent company.
Click to expand...
So whats the 3m ticket sales. This seasons ST sales and last seasons other ticket sales? Seems low...
 
bollieboy said:
Those ticket sales will also include the majority of this season's STs as accounts are made up to the end of June and the cheap ST offer finished on the 30th June.
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Season ticket sales for 2022/23 won’t be included in income in the June 2022 accounts (they’re included in creditors as deferred income).
Accounts are prepared on an accruals basis rather than a cash basis.
 
Maybe it's because a large number of their adult supporters bought Under 13's season tickets to save money that fucked the club up?

And as Off Duty Twit said.......PNE fans want them to go into administration......
Instant points deduction, fire sale on any half decent player, wages dropping by 50% for those that have to remain.....and the rain will be pouring down on the "Peter Ridsdale Memorial Stand" for the next 20 years as Deepdale crumbles before their eyes...........
 
Eventhepenguins said:
I wonder what would happen if any of the other Hemmings businesses hit the skids and they weren't so keen to keep spunking money on PNE??
I know they're already looking to stop bailing them out (£5m put in recently and those losses and loans keep building...with zero chance of getting anything out of it unless they sell the site to Tesco!!)
If I was a family member I'd be in my brothers ear...ffs dad's dead, none of us give a shit about pne any more, the fans are a bunch of ungrateful deadlegs, do whatever youve gotta do but just stop losing money on that shit!!!)

As I said the other day...PNE Administration Party...you're all invited...bring your own clapstix and butter pie 🧡🧡🧡
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Don’t forget scarves and flags
 
@20togo maybe you can see where I was coming from the other day on the financial reality for plenty of clubs in the Championship.

It’s costing Knob End’s owners £15-£20 million a year, just to tread water.
 
BFC_BFC_BFC said:
@20togo maybe you can see where I was coming from the other day on the financial reality for plenty of clubs in the Championship.

It’s costing Knob End’s owners £15-£20 million a year, just to tread water.
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Hemmings owns large swathes of the North West. He is worth over a Billion. For context, 5% interest on a Billion is £50 Million so he's not even spending his yearly interest whilst able to offset a chunk of the losses from PNE in tax. I think it's wishful thinking by Blackpool fans to think such loses are a big deal to Hemmings.
 
BigHandsOliverKahn said:
Hemmings owns large swathes of the North West. He is worth over a Billion. For context, 5% interest on a Billion is £50 Million so he's not even spending his yearly interest whilst able to offset a chunk of the losses from PNE in tax. I think it's wishful thinking by Blackpool fans to think such loses are a big deal to Hemmings.
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You do realise he's dead?!
 
Yeah something's gotta change and even though it's PNE and I definitely wouldn't say no to them dropping into league one for the next decade I don't want them out of business. Ultimately, they make being a Blackpool fan better by giving us our most anticipated and passionate games and best foil for mockery.

Be interesting to see our accounts, I think from Sadler taking over to June 2021 we had already accrued 8 million in losses.
 
Eventhepenguins said:
I wonder what would happen if any of the other Hemmings businesses hit the skids and they weren't so keen to keep spunking money on PNE??
I know they're already looking to stop bailing them out (£5m put in recently and those losses and loans keep building...with zero chance of getting anything out of it unless they sell the site to Tesco!!)
If I was a family member I'd be in my brothers ear...ffs dad's dead, none of us give a shit about pne any more, the fans are a bunch of ungrateful deadlegs, do whatever youve gotta do but just stop losing money on that shit!!!)

As I said the other day...PNE Administration Party...you're all invited...bring your own clapstix and butter pie 🧡🧡🧡
Click to expand...
I think that brotherly conversation make have already taken place🤔
 
Simply not sustainable. It all goes tits up in 2024. That’s when Trevor’s money runs out and his offspring say enough is enough and they will want out, not particularly attractive for any potential buyer.
 
PdxTangerine said:
Yeah something's gotta change and even though it's PNE and I definitely wouldn't say no to them dropping into league one for the next decade I don't want them out of business. Ultimately, they make being a Blackpool fan better by giving us our most anticipated and passionate games and best foil for mockery.

Be interesting to see our accounts, I think from Sadler taking over to June 2021 we had already accrued 8 million in losses.
Click to expand...
100% down to covid from June 20 to June 21
 
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