Just thought I would highlight a key figure in the accounts I have just received, so that you and others can ask the question in any future letters to the club/media:
In the post balance sheet event section (page 28), it states that, since 31 May 2011 there were net transfer fees receivable of £13 million.
I recall that a figure of £18 million was widely reported in the media as the proceeds of the sales of Arteta, Yakubu, Beckford, and Vaughan (presumably this excludes the loan fees/costs of Yobo and Drenthe and the mysterious Argentine top scorer).
At the time, I thought we should have got in excess of £20 million for these four players. So where is the missing £5 million?
Did we only get the £5 million originally offered for our Spanish gem?
I shall, as a shareholder, ask Mr Evans for an explanation, but I doubt if I will get a reply.
Paul Carr, Posted 16/12/2011 at 16:14:52
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1 Posted 16/12/2011 at 20:50:00
2 Posted 16/12/2011 at 21:14:34
3 Posted 16/12/2011 at 21:59:21
4 Posted 16/12/2011 at 23:03:16
Report ends May 31st, we sold the players in August.
5 Posted 16/12/2011 at 23:07:30
I am pretty sure that you can't include conditional payments in the accounts. They would have to be treated the same as provisions.
6 Posted 16/12/2011 at 23:10:03
Either way you can manipulate accounts quite legally to paint the picture within reason you require. Fortunately my bank manager supports Leeds so he won't be reading this. I would not read too much into it.
7 Posted 16/12/2011 at 23:31:32
8 Posted 16/12/2011 at 23:40:30
9 Posted 17/12/2011 at 00:05:34
I think that?s a perfectly valid question for which you?ll probably get a perfectly valid answer.
I?m no expert but personally I always find this site very helpful:
The total here does appear to agree with your estimation of the total value of the transfer but all fees will be subject to the FA transfer levy, so there?s some of the answer, and a proportion of the fee may also go to the player, if for instance the player doesn?t request a transfer, in other words he?s just sold by his club, then they?ll gets a percentage, if the player does, then the club takes the lot, less the levy ? probably the reason why we always have players suddenly requesting at the death ? Rooney, Lescott, Johnson, Arteta? Then there's any clauses regarding selling on that may be applicable and finally are agents fees only paid by the buying club? Those parasites appear to get a bite of everything; we paid £3m last year!!
Irrespective of the payment period I?d have thought the money still needed to be accounted for and any balance would be carried over into the next accounts?
Like I said, I?m no expert.....
10 Posted 17/12/2011 at 03:27:12
Good you posted though. Just another EFC owner concerned with himself more than the Club. You must be a Kenright etal favorite.
You'll be relieved of your worry soon enough.
11 Posted 17/12/2011 at 12:44:48
12 Posted 17/12/2011 at 13:10:03
Considering that the bank made us sell players because they feared the overdraft woud exceed £25 million by the end of this season, I would expect that figure to increase unless there are further sales.
13 Posted 18/12/2011 at 16:36:08
I wouldn't even bother askin'.
Just accept it and give up, like the majority of us have done....
14 Posted 18/12/2011 at 17:00:14
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