Debts

gaspargomez · Oct 27, 2016

I have just been reading the Herald. It appears that Argyle are around £4 million in debt. Sounds quite a lot to me !

How much has this improved the situation from a few years ago ? Does anyone know if there is a strategy in place to wipe out these debts eventually?

What a shame the club didn't get a slice of the Bolasie transfer fee !

yashin · Oct 27, 2016

Did we ever chase up the transfer development clause for Bolasie

Lundan Cabbie · Oct 27, 2016

yashin":3cnyeepn said:
Did we ever chase up the transfer development clause for Bolasie

The club announced there was nothing due.

Old Gunner · Oct 27, 2016

gaspargomez":2llgw830 said:
I have just been reading the Herald. It appears that Argyle are around £4 million in debt. Sounds quite a lot to me !

How much has this improved the situation from a few years ago ? Does anyone know if there is a strategy in place to wipe out these debts eventually?

What a shame the club didn't get a slice of the Bolasie transfer fee !

To be honest Gaspar I couldn't make head nor tails of the article--unless I had a copy of the accounts in front of me it would be impossible to comment. What we should take out of it however is that this was the situation as at the end of December 2015 so it doesn't include the £500,000 investment made by one of the directors since then and of course it won't show the ground as an asset (hopefully appreciating in value over the next few years) in the balance sheet. It also includes depreciation on naming rights etc. which distorts things a little. It does show an increase in the operating profit over the previous financial year which is good---I suspect the accounts for year ending 2016 will look a little different.

ealinggreen · Oct 27, 2016

Am I reading it correctly that the freehold purchase becomes an Argyle dept?

PL2 3DQ · Oct 27, 2016

The accounts were published two weeks ago and are only dated up to December 2015. They show a deficit of £2.67m from £2.56m from the previous year.
The debt is in house and not to external businesses or banks as happened in the previous regime, James Brent has taken on the debt through his Natatomisam company, it's not repayable for five years. There's no way JB will put the club in any danger.

The latest financial information was from the club statement in August where the club said it had a turnover of £6 million and a surplus (profit) of £800,000, which was probably helped by the play-off and Wembley games.

Monster Green · Oct 27, 2016

Thanks Postey. The Herald article is terribly put together and doesn't make a great deal of sense to me. Does anybody have a copy of the statement that the public can view?

dunlop · Oct 28, 2016

Creative accountancy at its best.

Ade the green · Oct 28, 2016

dunlop":170vwgk2 said:
Creative accountancy at its best.

Meaning what exactly?

Debts

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