Club finances revealed - Middlesbrough

The Prince-e-Paul

Makes interesting reading. Makes you wonder how any club can survive. £177m losses in finance period with most of this (over £100m) written off by club owner Steve Gibson. 
https://www.gazettelive.co.uk/sport/football/football-news/what-stark-numbers-middlesbroughs-accounts-17903178

iaitch

Credit to the chairman for sticking with them but surely his finances aren't bottomless?

Lincsaddick

iaitch said:

Credit to the chairman for sticking with them but surely his finances aren't bottomless?

his lorries and warehouses must make a seriously big profit or they are mortgaged to the hilt

Swisdom

their dad is our former dad I think I believe our former FD is their current FD

David Joyes

Chris_from_Sidcup

The Prince-e-Paul said:

Makes interesting reading. Makes you wonder how any club can survive. £177m losses in finance period with most of this (over £100m) written off by club owner Steve Gibson. 
https://www.gazettelive.co.uk/sport/football/football-news/what-stark-numbers-middlesbroughs-accounts-17903178

I read it as they've lost 177m during his entire time as owner? He's been there about 25 years so that isn't too bad really.

golfaddick

Haven't read it all but it looks like they are in for some more pain. They are on their last parachute payment of £40m this year, compared to just £7m TV money next year, as well as having over £20m in transfer fees still to pay. So that's over a £50m loss next season just for starters.

jimmymelrose

Chris_from_Sidcup said:

The Prince-e-Paul said:

Makes interesting reading. Makes you wonder how any club can survive. £177m losses in finance period with most of this (over £100m) written off by club owner Steve Gibson. 
https://www.gazettelive.co.uk/sport/football/football-news/what-stark-numbers-middlesbroughs-accounts-17903178

I read it as they've lost 177m during his entire time as owner? He's been there about 25 years so that isn't too bad really.

Not too bad! It's still over 7 million a year in losses. If that were for one year then maybe an owner would tolerate it but otherwise they would close down the business.

se9addick

Chris_from_Sidcup said:

The Prince-e-Paul said:

Makes interesting reading. Makes you wonder how any club can survive. £177m losses in finance period with most of this (over £100m) written off by club owner Steve Gibson. 
https://www.gazettelive.co.uk/sport/football/football-news/what-stark-numbers-middlesbroughs-accounts-17903178

I read it as they've lost 177m during his entire time as owner? He's been there about 25 years so that isn't too bad really.

Football is an odd business. 

ShootersHillGuru

The soon football finances implode and we can reboot the beautiful game the better. Utter utter madness.

oohaahmortimer

se9addick said:

Chris_from_Sidcup said:

The Prince-e-Paul said:

Makes interesting reading. Makes you wonder how any club can survive. £177m losses in finance period with most of this (over £100m) written off by club owner Steve Gibson. 
https://www.gazettelive.co.uk/sport/football/football-news/what-stark-numbers-middlesbroughs-accounts-17903178

I read it as they've lost 177m during his entire time as owner? He's been there about 25 years so that isn't too bad really.

Football is an odd business. 

exactly and they spent a fair amount of time in the Prem with European success , yet people still believe genuine people would be interested in “investing” in Charlton at Rolands crackpot price , is it really any surprise no half sane business people go anywhere near us at twuntys inflated price and we end up with chancers /

ForeverAddickted

ShootersHillGuru said:

The soon football finances implode and we can reboot the beautiful game the better. Utter utter madness.

You'd hope with all these issues that this time would be now - Dont see it happening enough to make a serious difference though

Instead will be a limited number of clubs struggling that'll be replaced by your Salford City's coming out of Non-League to keep the madness carrying on

Lincsaddick

Steve Gibson is worth (according to the Sunday Times) circa £220 Million and his company makes a nice profit EXCEPT for his hobby/passion, football .. I do wonder if somehow the FC's losses are written off against his other business gains ?

SouthNorwoodAddick

ShootersHillGuru said:

The soon football finances implode and we can reboot the beautiful game the better. Utter utter madness.

I feel like a reset would be best, but it's not like player wages will drop any time soon, I'm not sure what the answer is. 

thai malaysia addick

SouthNorwoodAddick said:

ShootersHillGuru said:

The soon football finances implode and we can reboot the beautiful game the better. Utter utter madness.

I feel like a reset would be best, but it's not like player wages will drop any time soon, I'm not sure what the answer is. 

There’s no reason why the wages that players get will not plummet. If enough clubs won’t pay the current rates, they will fall. If only one or two clubs go out of business or have to offload several players, it will make little difference but if there are 30 or 40 Colchesters, things will change. The richer may well stump up the current rates but the rest will just buy more cheaply.

Dansk_Red

The full article is online edition of the Daily Mail. Unbelivable