2015/16 Financial Results Published
The results have been published and appear on the OS at: -
http://www.whufc.com/sites/default/files/inline-files/WH Holding signed stats 31.5.16 Final_0.pdf
If someone could translate into Laymans Terms it would be appreciated.
http://www.whufc.com/sites/default/files/inline-files/WH Holding signed stats 31.5.16 Final_0.pdf
If someone could translate into Laymans Terms it would be appreciated.
Comments
We've managed to pay down some of the debt, we owed 49m in shareholder loans and 12m in interest, they've taken some of that back. Only a small piece around 4m
We paid off a payday loan of 30m but took another one out for the same amount due back in the summer.
We spent over 50m on players but wages went up to over 80m, not that surprising.
Brady appears to have been given a salary of around 900k up about 40%.
The next set of booked should see a significant jump in income due to the new TV deal plus the extra cash generated by extra tickets sold at the LS.
We're heading in the right direction and a long way since the days of owing plenty of clubs/banks money but none was owed to us
I think the only bit I'm miffed is the fact they took and appear to be taking the interest on the loans (some of that could be C&B holdings and the icelandics?) I really wanted them to turn that into equity considering the value of the club has shot up (obviously never see that until you sell)
It's still going to take another couple of years but as long as we stay in the PL then we should be fine, especially if we stay in the top half and can attract half decent players.
;ok