Burnley FC Accounts 2022/23

[Vegas Claret]

Who do we think we can sell in summer window for a fee assuming we are relegated ? I think that is a very relevant question

big clubs often sign potential, if WE decide to sell him I think Odobert would go for a decent amount but I hope we don't sell him. Him, Koleosho, Zaroury and Benson in the Championship is like having a cheat code

[Funkydrummer]

Cheat code. Love the analogy.

[The Shire Claret]

big clubs often sign potential, if WE decide to sell him I think Odobert would go for a decent amount but I hope we don't sell him. Him, Koleosho, Zaroury and Benson in the Championship is like having a cheat code

up up down down left right left right B A Start


UTC

[Poulton-le-Claret]

*Awaits ChesterPerry translation*

Glad I'm not the only one

[ClaretAL]

Come on Chester put us out of our misery in layman terms please

[ClaretPete001]

I'm not financial expert but it reads how you would expect, no major surprises, no major worries. good job Alan

For someone who is not a financial expert you have assimilated those quickly and come to a conclusion.

[123EasyasBFC]

Brighton just announced a British record 123m profit for a football club

[Goody1975]

There is a job to do on the field, the result of that will see us going in one of two directions in the summer.

Ideally we stay up, have a plan to move on some players and strengthen a few key positions without taking punts.

Having had two very chaotic summers it would be good to have a settled more measured approach, but think that'll only be the case if the decisions are in our hands, relegation probably negates that option.

Get behind the lads tonight, they need us more than ever in these final few weeks.

[CoolClaret]

The published accounts sort of confirms two points for me:

- That wages etc are obviously weighted with significant rises/reductions on promotion/relegation and are nowhere near as low as a few posters on here were suggesting that they'd be.

- That the club absolutely pushed the boat to get back up at the first time of asking.

Two more myths we can put to bed.

I'm sure there's some contingency and risk mitigation factored in with the contracts and the fact that our signings are young players (should retain a significant % of their transfer value, even at the absolute worst) but we're probably not in a position where we would ever want to spend a significant period outside of the top flight again.

[Swizzlestick]

Brighton just announced a British record 123m profit for a football club

Caicedo sale I would imagine? Bought him for relative peanuts too.

[Poulton-le-Claret]

Brighton just announced a British record 123m profit for a football club

Wonder if they have a special income section on the accounts labelled 'Chelsea'

[aggi]

Brighton just announced a British record 123m profit for a football club

Second highest after Spurs in 2018.

Mainly driven by Chelsea it looks like! Not only the players but £23m for Potter.

Interesting to see that the club has started to pay back a bit, £35m, of the £400m or so that is owed to the owner.

[Steve-Harpers-perm]

Caicedo sale I would imagine? Bought him for relative peanuts too.

Doesn’t include the fees they received for Caicedo or Sanchez according to Sky Sports.

[Swizzlestick]

Doesn’t include the fees they received for Caicedo or Sanchez according to Sky Sports.

Maybe Cucurella then? Forgot how much Chelsea has thrown at them!

[Chester Perry]

You go out for the day and something a little unexpected happens - I need to read what has been published first - though I note that these are the holding company's accounts not the club's trading accounts - so include impacts of other group companies Burnley FC Women and Longside Properties as well

[Goliath]

What has where the owners come from got to do with it ?

I think the point was that many clubs in the PL and championship are in the same boat with significant debt and either already in the championship after being relegated or at the risk of being relegated.

Quite a lot. I wouldn't have anywhere near as much trust in an owner from overseas than I would a local honour simply because we don't know what their real motive is.
We at least knew Garlick, John B and Barry Kilby would never have seen us go completely tits up. Foreign owners are an unknown quantity. I presume you're trying to go down the xenophobic route with your comment which is slightly pathetic and disingenuous

[ŽižkovClaret]

Brighton just announced a British record 123m profit for a football club

Did they credit Todd Boehly?

[agreenwood]

Leicester just announced almost £100m in losses for last season. Some going considering they were in the PL. You’d imagine they lost a fair chunk this season too and as it stands there’s no guarantee they’ll make it back to the PL at the first time of asking.

Brighton are sadly an outlier in this day and age amongst the lesser PL clubs.

[roperclaret]

Quite a lot. I wouldn't have anywhere near as much trust in an owner from overseas than I would a local honour simply because we don't know what their real motive is.
We at least knew Garlick, John B and Barry Kilby would never have seen us go completely tits up. Foreign owners are an unknown quantity. I presume you're trying to go down the xenophobic route with your comment which is slightly pathetic and disingenuous

Yeah cos that worked well for Blackpool didn’t it? What a ridiculous thing to say

[Goliath]

it's a massive potential list isn't it ...

I think a lot of our championship winning players will be profitable if they don't get a chance next season aka

Zaroury
Benson
Churnilov
Roberts
-----
I assume Amdouni may be sold ?

Just to name a few, not that I want to see them go

UTC

The problem is Zaroury is absolutely destroying his transfer value with his Hull spell and Bensons is probably a lot lower than it would have been a year ago.
I doubt we'd get much more than 10 million for the pair now.

[Goliath]

Yeah cos that worked well for Blackpool didn’t it? What a ridiculous thing to say

Eurgh, the modern trend of people looking to be offended by stuff.

Anyone with a brain can see what I'm trying to say. It's not exactly controversial.

[Spijed]

Leicester just announced almost £100m in losses for last season. Some going considering they were in the PL. You’d imagine they lost a fair chunk this season too and as it stands there’s no guarantee they’ll make it back to the PL at the first time of asking.

Brighton are sadly an outlier in this day and age amongst the lesser PL clubs.

Brighton have been bank rolled by Tony Bloom for the best part of £500 million.

[GetIntoEm]

Never understand why Brighton get such praise, they've absolutely took the Mick with the free money they've had. Not well run, just bank rolled

[Big Vinny K]

Quite a lot. I wouldn't have anywhere near as much trust in an owner from overseas than I would a local honour simply because we don't know what their real motive is.
We at least knew Garlick, John B and Barry Kilby would never have seen us go completely tits up. Foreign owners are an unknown quantity. I presume you're trying to go down the xenophobic route with your comment which is slightly pathetic and disingenuous

WTF are you talking about now ?
I was pointing out that lots of clubs are in the same financial position irrespective of the nationality of their owners.
You really ain’t the brightest poster on this forum are you ?

[Goliath]

WTF are you talking about now ?
I was pointing out that lots of clubs are in the same financial position irrespective of the nationality of their owners.
You really ain’t the brightest poster on this forum are you ?

And I was merely pointing out that I would have more confidence in the motives of our owners if they'd been raised as supporters of the club. Apparently that means my intelligence comes into question. If posts on here make you so angry may I politely suggest you get out of the house a bit more.

I can understand why CT has had to reduce his activity on the board these days.

[Milltown1882]

Would we take the points deduction next season or the season after? Things aren’t rosy in Claret Palace.

[Burnley1989]

I doubt there’s a Burnley fan that wouldnt have told you that.
We will no doubt sell 4-5 in the summer and clear some funds again

[blatherwickstattoos]

Load of bolllocks.

[BurnleyFC]

Wasn’t this clown predicting financial meltdown nearly 2 seasons ago?

[ervi34]

So it's not as same as saying administration is likely. Why are you counting points deduction then?

[Newcastleclaret93]

Wasn’t this clown predicting financial meltdown nearly 2 seasons ago?

Think he pretty much said what everyone was.

If we were not immediately promoted we would have serious financial issues. Even with being promoted straight away it appears our finances are still a cause for concern.

[BurnleyFC]

Think he pretty much said what everyone was.

If we were not immediately promoted we would have serious financial issues. Even with being promoted straight away it appears our finances are still a cause for concern.

Apologies - it was some clown called Charlie Walker in the Daily Mail that wrote the article I was thinking about, although he is quoted in that article.

https://www.dailymail.co.uk/sport/sport ... ayers.html

[aggi]

This is the wording from the accounts. There's a risk, it's probably not that big a risk:

These financial statements are prepared on a going concern basis. The directors have reasonable expectation that the group will continue in operation existence for the foreseeable future. The directors are aware certain uncertainties which could cause doubt on the group’s ability to continue as a going concern if they were to arise and remain unremedied.
The group prepares forecasts which take into consideration various scenarios, including the risk of the club being relegated from the Premier League. In the event of relegation, the group as with all such clubs will incur a significant reduction in turnover
as Premier League broadcasting revenue is replaced with parachute payments. The group will be required to take steps to reduce costs and borrowings to a level more sustainable for a Championship club. In this scenario the group would expect significant reduction in wages and salaries, which will be
largely achieved by contractual means existing in player and employee contracts and player transfers.
The group has also forecast a net inflow of cash from player trading, as is common for many clubs relegated from the Premier League. In such a case, to support the group’s obligations, the directors will consider and utilise financing options available, including but not limited to, player receivable financing. In the event that the group's financial performance varies or is less than that modelled, the directors are satisfied that sufficient funds can be generated or otherwise obtained by the Group, if
this was absolutely necessary. The current football transfer market remains strong, and the group believes that future potential player trading consistent with forecasts is reasonably achievable. The underlying models contain key judgments about future player trading which are subject to a significant degree of uncertainty, along with other variables. If player trading results were to be materially less than forecasts, and the operating budget modeled otherwise remained unchanged, the resulting conditions if unresolved
would indicate a material uncertainty which may cast doubt about the group’s ability to continue as a
going concern if unresolved and therefore that it may be unable to realise its assets and discharge its
liabilities in the normal course of business. The financial statements do not include the adjustments
that would be necessary should the going concern basis of preparation no longer be appropriate.
The directors have considered the financial stability of the group for the next 12 months from the date
of signing these financial statements. They have assessed financial performance and are satisfied
that it will have sufficient resources available to be able to meet its obligations as they become due
and therefore remain confident it will continue to be a going concern

Basically the owners don't have deep enough pockets to keep us afloat if we don't manage to sell off players for a decent amount of money. But for that to happen we'd have to take some significant hits in the transfer market

[Chester Perry]

Wasn’t this clown predicting financial meltdown nearly 2 seasons ago?

If you look closely at the last accounts and read those published yesterday then you will see a lot of money still going out the door and not to buy players or develop the clubs facilities/revenues

[Vegas Claret]

I've found a quid down the back of the couch, no problems lads I've got this

[BurnleyFC]

If you look closely at the last accounts and read those published yesterday then you will see a lot of money still going out the door and not to buy players or develop the clubs facilities/revenues

I don’t profess to understand accounts, so I appreciate it greatly when posters such as yourself and aggi simplify it for the rest of us.

That being said, not a single thing came true that the so called experts, including Kieran Maguire, predicted could happen two seasons ago.

[LlandennyClaret]

Yet…….

I don’t profess to understand accounts, so I appreciate it greatly when posters such as yourself and aggi simplify it for the rest of us.

That being said, not a single thing came true that the so called experts, including Kieran Maguire, predicted could happen two seasons ago.

[Chester Perry]

This is the wording from the accounts. There's a risk, it's probably not that big a risk:

These financial statements are prepared on a going concern basis. The directors have reasonable expectation that the group will continue in operation existence for the foreseeable future. The directors are aware certain uncertainties which could cause doubt on the group’s ability to continue as a going concern if they were to arise and remain unremedied.
The group prepares forecasts which take into consideration various scenarios, including the risk of the club being relegated from the Premier League. In the event of relegation, the group as with all such clubs will incur a significant reduction in turnover
as Premier League broadcasting revenue is replaced with parachute payments. The group will be required to take steps to reduce costs and borrowings to a level more sustainable for a Championship club. In this scenario the group would expect significant reduction in wages and salaries, which will be
largely achieved by contractual means existing in player and employee contracts and player transfers.
The group has also forecast a net inflow of cash from player trading, as is common for many clubs relegated from the Premier League. In such a case, to support the group’s obligations, the directors will consider and utilise financing options available, including but not limited to, player receivable financing. In the event that the group's financial performance varies or is less than that modelled, the directors are satisfied that sufficient funds can be generated or otherwise obtained by the Group, if
this was absolutely necessary. The current football transfer market remains strong, and the group believes that future potential player trading consistent with forecasts is reasonably achievable. The underlying models contain key judgments about future player trading which are subject to a significant degree of uncertainty, along with other variables. If player trading results were to be materially less than forecasts, and the operating budget modeled otherwise remained unchanged, the resulting conditions if unresolved
would indicate a material uncertainty which may cast doubt about the group’s ability to continue as a
going concern if unresolved and therefore that it may be unable to realise its assets and discharge its
liabilities in the normal course of business. The financial statements do not include the adjustments
that would be necessary should the going concern basis of preparation no longer be appropriate.
The directors have considered the financial stability of the group for the next 12 months from the date
of signing these financial statements. They have assessed financial performance and are satisfied
that it will have sufficient resources available to be able to meet its obligations as they become due
and therefore remain confident it will continue to be a going concern

Basically the owners don't have deep enough pockets to keep us afloat if we don't manage to sell off players for a decent amount of money. But for that to happen we'd have to take some significant hits in the transfer market

Anyone still wondering what happened to that £88m they had in September last year? or why there is mention of shares being transferred from Calder Vale Holdings in October but nothing about the debt Calder Valle Holdings owes to the club (which grew by £9.3m last year, presumably to contribute to that final stage payment, which would not have had to be paid if promotion had not been achieved) - of course Calder Vale Holdings still hasn't presented accounts (two sets are long overdue) - same with Kettering Capital.

[Vegas Claret]

Anyone still wondering what happened to that £88m they had in September last year? or why there is mention of shares being transferred from Calder Vale Holdings in October but nothing about the debt Calder Valle Holdings owes to the club (which grew by £9.3m last year, presumably to contribute to that final stage payment, which would not have had to be paid if promotion had not been achieved) - of course Calder Vale Holdings still hasn't presented accounts (two sets are long overdue) - same with Kettering Capital.

no, we are waiting for you to give us a proper run down in language we can all understand !!!!!

[Tricky Trevor]

Haven’t read the accounts as I wouldn’t have a clue but if the situation is bad why did we spunk so much money, on potential, last Summer?

[Darthlaw]

The long and short:

The auditors have confirmed that there is a risk we would not be a going concern as per note 2.4 in our accounts (as posted by aggi above)

Essentially the board has stated the main risk to us is relegation from the PL (and the reduced revenue as a result) but if that happened it would be reasonable to expect reduction in outgoings by a lower wage bill, including relegation clauses which are already in place. We would also expect player sales to contribute to cash flow but admit that the transfer market cannot be predicted, even though it is healthy now.

If (a very big IF) the transfer market collapsed and BFC did not make the predicted sales, the club would face a risk but the owners are confident they would still be able to secure adequate funding (In the event that the group's financial performance varies or is less than that modelled, the directors are satisfied that sufficient funds can be generated or otherwise obtained by the Group, if this was absolutely necessary.)

Give this to a ******* reporter and he’ll spin it into what he has tweeted.

Hope this helps.

[NickBFC]

Reads to me that short term we are fine, including relegation, but we are heavily reliant on PL income every other year at least. It is a risky game and you have to hope we're promoted next season should the worse happen. Two seasons in the Championship would be incredibly costly.

[claretburns]

Haven’t read the accounts as I wouldn’t have a clue but if the situation is bad why did we spunk so much money, on potential, last Summer?

I think basically for that potential to be realised.

Gamble 4 or 5 million on a Koleosho or Odobert in the hope after a season or two in the Premier League they'd be worth 10 times what we paid for them.

[FeedTheArf]

Quite a lot. I wouldn't have anywhere near as much trust in an owner from overseas than I would a local honour simply because we don't know what their real motive is.
We at least knew Garlick, John B and Barry Kilby would never have seen us go completely tits up. Foreign owners are an unknown quantity. I presume you're trying to go down the xenophobic route with your comment which is slightly pathetic and disingenuous

I don’t like these owners, I couldn’t care less where they come from, but don’t be fooled by Garlick and John B either. They fattened the pig as best they could then filled their pockets. By the sound of it, Barry couldn’t stop it as his shares were tied into an arrangement with either Garlick or John B.

[NewClaret]

Basically, “the group” will give them money if necessary. I think the group has more cash than we realise.

[GetIntoEm]

Anyone who's ever read a set of accounts for any company will know it's nothing to alarm.

No auditors or accountants can predict the future so always have these sort of caveats in there

[Vegas Claret]

Basically, “the group” will give them money if necessary. I think the group has more cash than we realise.

the money floating around in US sport is massive so it wouldn't surprise me, problem is we still have to fit in with FSR.............. **** that, spend 200 million and take 6 point reduction reduced to 4 for writing a nice letter

[Goliath]

I don’t like these owners, I couldn’t care less where they come from, but don’t be fooled by Garlick and John B either. They fattened the pig as best they could then filled their pockets. By the sound of it, Barry couldn’t stop it as his shares were tied into an arrangement with either Garlick or John B.

But that wasn't in anyway putting the club at risk. They did very well for us

[Chester Perry]

Basically, “the group” will give them money if necessary. I think the group has more cash than we realise.

Will it? It doesn't even say that,

What is says is that they believe they have ways which they believe will enable them to deal with it, much like they did last time - which in short saw the club sell all the player assets it could and refinance it's loans 3 times in 14 months as well as take advances on future revenues.

[FeedTheArf]

But that wasn't in anyway putting the club at risk. They did very well for us

How was it not putting the club at risk? They allowed ALK to use the clubs own funds to buy it. The ‘rainy day’ fund gone and for what? Perfectly legal, morally corrupt.

They didn’t do well for us. They should just thank their lucky stars they had the foresight/luck to hire Sean Dyche. He was the magic that kept us in the Prem for so long on relative peanuts.