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2020/21 finances

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12020/21 finances Empty 2020/21 finances Sun May 09 2021, 07:00

cumbrian-white


David Ngog
David Ngog
I wonder how the club’s finances have held up in comparison to other clubs throughout the Covid pandemic?

I suppose ours were a unique set of circumstances which strangely may have helped the sustainability throughout the last 14 months.

Still being under the embargo until end of this month plus the salary cap at the start of the season will have kept expenditure on player salaries well down on previous seasons.

Not having an under 23s and reducing the number of back room staff to the bare minimum will also have reduced costs.

If you factor in the furlough scheme, the cash handout from the Premier League plus the ifollow subscriptions which I believe were amongst the highest in League 2 then hopefully the club might be in a fairly strong position to really push on next season.

Obviously I’m not privy to the figures, but I’ll be interested to see this years balance sheet when the accounts are eventually released

22020/21 finances Empty Re: 2020/21 finances Sun May 09 2021, 08:19

Ten Bobsworth


El Hadji Diouf
El Hadji Diouf
[You must be registered and logged in to see this link.] wrote:I wonder how the club’s finances have held up in comparison to other clubs throughout the Covid pandemic?

I suppose ours were a unique set of circumstances which strangely may have helped the sustainability throughout the last 14 months.

Still being under the embargo until end of this month plus the salary cap at the start of the season will have kept expenditure on player salaries well down on previous seasons.

Not having an under 23s and reducing the number of back room staff to the bare minimum will also have reduced costs.

If you factor in the furlough scheme, the cash handout from the Premier League plus the ifollow subscriptions which I believe were amongst the highest in League 2 then hopefully the club might be in a fairly strong position to really push on next season.

Obviously I’m not privy to the figures, but I’ll be interested to see this years balance sheet when the accounts are eventually released
You'll have a long wait before you see this year's balance sheet, C-W. We haven't seen last year's yet but the points you make are valid.

Another factor is the availability of COVID loans on the football club AND the hotel. I rather suspect that COVID loans might have had something to do with the loosening of purse strings that resulted in the squad strengthening in January.

FGR's owners, Ecotricity Group, pulled in £15million from COVID loans  in October 2020, and are hoping to pull in another £25m. (See VinceWatch - Git Amang It).

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