Transfer fee(s) and Parachute payments?

[redrobo]

Last season the club received I understand monies from the sale of Adam Mayor as well as a parachute payment after relegation from EFL1. Please correct me if I am wrong....

Did part or all that money go towards paying back loans to the owner or was it used to ensure that the club had money for all its operating costs such as coach transport and overnight accommodation etc....

If part of it was to pay back loans from Jason for me this is just a further example of the money he has taken from our club in interest payments alone.....

[vvm]

A quick google gives me this figure in relation to parachute payments:

"Clubs relegated from League One 12.6% of the basic award payment (£920,000) to League One clubs for one season. £115,920"

Did we get about £200,000 for Mayor maybe?

We also made roughly £150,000-£200,000 from our FA Cup run.

In terms of money coming in, surely it must have been one of our more profitable seasons?

[KenH]

In terms of money coming in, surely it must have been one of our more profitable seasons?

Unlikely to have made a profit even with those "extras". Loss for the prior season (22/23) was over a million. And prior to promotion, our losses were typically £500-£750k per year. It was only the year before that (21/22) where we made a one off exceptional profit of over a million due to transfer fees, playoff win, covid grants and televised cup match. I'd optimistically hope for a loss of "only" half a million for 23/24 season. That money has to come from somewhere, hence loans and additional share capital. Whatever we say/think about Jason, he's financing the club's losses one way or another.

[redrobo]

£1million profit the year before we make a loss of £1 million. Mymaths could be better but does that suggest that we spent £2 million in the year following the profitable year...

[KenH]

£1million profit the year before we make a loss of £1 million. Mymaths could be better but does that suggest that we spent £2 million in the year following the profitable year...

No each year is stand alone.

We made a million, paid off debt with it.

Year after, we lost a million, took on debt to help fund it along with share issue.

So over the two years, we basically broke even, similar position financially to where we stood at the start of those two years.

Heaven only knows where we are now after the 23/4 season. Probably another whopping loss and a shed load more debt.