discopants wrote:
Smurf, I was told today that Boro are in the financial clarts. Is it right that for the past lord knows how many years Boro have been operating with significant losses, season after season, but those losses were " written off" somehow against Bulk Haul's trading figures ?
For those who may not know, Bulk Haul is owned by Steve Gibson, Boro's excellent chairman.
And is it right that Mr Gibson is in the throes of a divorce and his wife's solicitors are insisting that until the financial side of the divorce is sorted, Boro's losses can no longer be paid by BulkHaul ?
I have been told this today by two season ticket holders. They went on to say that Boro have debts of £83m to the bank. This has seriously affected the club's planning for the new season. Hence the sale of Luke Young.
On a positive note, as good as Young is, Boro feel a young un called McMahon can step in.
Finally, there has been an increase in season ticket sales from 21,000 last year to 22,000 this year BUT Boro have offered season tickets to kids for £95 and loads have been snapped up so in financial terms the revenue from season ticket sales has plummeted seriously.
Is this right ? The people who told me this are significant businessmen on Teesside.
What do you think ?
Gary
yes those figures are correct, there are some things to consider with that though, gibbo has been in proceedings with his wife for a fair while (and we spent 12m on alves after it started). the whole of the gibson o'neil company and all its assets are accounted together, so the boro's debt is used as a big tax write off for the other companies apparently (not too sure how that work but it is a manageable debt)
yes boro are changing there approach, gone are the days of robson buying world class players, (juninho, ravenelli) or other high quality players (barmby when he was full england player, merson, emerson) and the over paid veterans (boksic, branco), gone of the days of mclaren signing players at the end of there career with no sell on possible (ehiogo (sp), mendietta, even southgate) all of which led to boro having a very old squad on massive contracts both financially and time wise (5year 40k a week contrcats to 30 year old ffs).
now boro have the youngstest squad in the top flight possibly the whole league (arca and alves are the oldest player we have) most all of the players we have will be able to be sold on for profit and are on fairly low wages (even alves is only on 20k a week, i say only but that is low for teams star players). the wage bill will also show that it fits in with the money boro are receiving unlike some teams.
the qouted debt include the total cost of building the riverside, the training complex and the hotel and conferencing centre at the training ground so our net assets outway our debt
whilst i think we need 2 more experienced players in the squad (keeper and midfielder) i am very positive about this season, boro matches will see a lot of goals this season (probably some big defeats as well as big wins). boro have started to plan for when the tv dries up not many others have and for that i am thankfull (i worked at ayresome park in 1986 as a junior steward) i never want to see another summer like 1986 and unfortunately for some teams they will go through what we had to then.
on the season ticket front it is great to see season tickets on the increase, not many teams will say that, i know a lot of cheap tickets have been sold but that means we will have more fans as they grow up (get them hooked young and they will be fans for life as you know). also when you take into account them buying a programme, drinks burger/pie etc it wont make too much difference to the takings.
also on the season ticket issue, last year we sold 21 000 as you said, now at an average of £400 that amounts to £8 400 000 pounds, ( now that is aasuming that all the tickets were at full price which we know they wouldn't have been), this year lets say 10 000 were at the £95 price, that is £950k 12 000 at the £400 (as boro did not put any prices up unlike some teams) which is £4 800 000 so altogether £5 750 000 which is only £2.65m less than last year gate money is nothing when compared to the tv money nowadays which is why some teams will die when the tv money stops (oh and remember that mendieta, rocky, swcharzer and dong gook lee, boateng have all left so that is 200k a week is wages saved)
on the young transfer, 5.5m rising to 6m is great business on a player we signed for 2.5 last year and who is 29, i am sorry to see him go but i am confident he will be replaced. mcmahon could become a great player, he was rated more highly than wheater, taylor and johnson 2 years ago but he has had awful injuries since then, he needs an injury free season which is why i believe we will sign a right back in time for the tottenham game (possible finnan on a low fee to give mcmahon time to prove himself fit)
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