[Albion] Albion announce £122.8m profit for the 2022/23 season

[hans kraay fan club]

Great effort @El Presidente

thanks for taking the time to explain it all for the laymen and financial simpletons amongst us.

 

[Baldseagull]

A question for the accountancy and tax folk here.

How is it that the club have managed to pay as little as £10m tax on £133m pre tax profit (7.5%)?

Yes the same loopholes exist for every club and we can praise the club for clever accounting, but it all feels a little warped.

Losses from past years carried forward.

 

[Baldseagull]

The Athletic report includes the following:

"Brighton’s windfall coincides with De Zerbi considering his future due to reservations about the scale of squad strengthening to compete for a top-six finish again."

I'm sorry, Andy, it doesn't....the "windfall" presented in the latest accounts relates to the period ended 30th June 2023. It's only just been publicly announced, but the Board will have known the financial results last summer, and probably quite a bit before then. There will be another "windfall" announced 12 months from now, possibly even greater, given it will include the sales of Caicedo and Sanchez, plus the Europa League money.

The club haven't suddenly discovered a whole load of money which will make them rush out to spend it in response to RDZ's "reservations". As others have said, this won't change our strategy (if it was going to make a difference, we would have seen that in last summer's transfer window, and the January window).

We did see a difference in rumour last summer transfer window, bids of £40M each for Colwill and Kudus supposedly.

 

[Joey Jo Jo Jr. Shabadoo]

It's a great read - thanks El Pres.

Tiny point of order. Wasn't it Dick Knight who struck the original partnership with Amex, rather than TB?

I don’t think so. American Express first came on board when it was announced they’d agreed a deal for the naming rights to the stadium in 2010, a couple of years into TBs time as chairman. I’m not aware of them being involved with the club prior to that?

 

[Thunder Bolt]

I don’t think so. American Express first came on board when it was announced they’d agreed a deal for the naming rights to the stadium in 2010, a couple of years into TBs time as chairman. I’m not aware of them being involved with the club prior to that?

Forgive me for the link (don't shoot the messenger) but DK did talk to American Express who said they wanted the word Community involved. They were involved with the charity side (AITC) before the Amex opened and the naming rights discussed.

Albion ring in the changes with new name for the Amex and charitable arm

The Seagulls plan to rename their home ground from the start of August, calling it the American Express Stadium, while

www.brightonandhovenews.org

Edit to add a thread from last year when AITC was changed to the Foundation.

[Albion] - Amex Stadium name change..

 

[nwgull]

@El Presidente's analysis can be found here:

Brighton & Hove Albion 22/23 Financial Report: Complete Control - The Daily Seagull

In-depth analysis of Brighton & Hove Albion's 2022/23 financial results, from the Price of Football's Kieran Maguire.

www.northstandchat.com

Nice write up. Interesting to see that the amoritisation charge fell by so much - in fact to its lowest level since our first PL season. Made me think: Locadia sung in Jan 18 on a 4.5 year deal, so 22-23 was the first season that we didn't have a 3.5m amortisation charge on him, wasn't it? A good demonstration of how knee-jerk signings can be a burden for multiple seasons. Chelsea are so f***ed.

 

[LamieRobertson]

PB due to discuss results on the absent White and Jordan show this morning…..Smatterface to host

 

[rippleman]

A question for the accountancy and tax folk here.

How is it that the club have managed to pay as little as £10m tax on £133m pre tax profit (7.5%)?

Yes the same loopholes exist for every club and we can praise the club for clever accounting, but it all feels a little warped.

Not as warped as Amazon UK who, in 2022, paid NO Corporation Tax despite making a profit of £222m.

There's warped and then there's....Amazon UK!

What's Amazon's tax bill?

Sign up to our free weekly newslette r:

www.taxjustice.uk

 

[Tom Bombadil]

When you think most commercial loans are going to be at least 10% ish in the current climate, the repayment for this season alone wouldn't have covered the interest on £400m, bloody 'ell!

I was looking at the accounts of Leicester to see how they lost so much money. One of the less expected differences was over £12m for interest and other charges. Now some of that appears to be how they account for transfer fees, but most of it was overdrafts , loans and HP commitments.

 

[Winker]

PB due to discuss results on the absent White and Jordan show this morning…..Smatterface to host

On next!

 

[bluenitsuj]

Fabulous news, I don't expect this to have any impact on our strategy. Sell a couple in the summer for big money and bring in a handful of potentials all U21's and possibly 1 experienced player to bolster the squad

I think you will be surprised

 

[Tim Over Whelmed]

I was looking at the accounts of Leicester to see how they lost so much money. One of the less expected differences was over £12m for interest and other charges. Now some of that appears to be how they account for transfer fees, but most of it was overdrafts , loans and HP commitments.

and fees .... with "fixers", sorry Investment Managers, charging 3-5% fee for structing a loan, not to be sniffed at at £20m on a £400m loan. And then repeating this each time a loan is paid of by another loan!!

 

[Paulie Gualtieri]

Bet that 33m bought a lot of peace at home!

I got shouted at for lending a mate £700 for a holiday a few years, which I got back in a fortnight, can only imagine the pressure he has!

 

[ukpolska]

I have always had an optimistic nature and it’s just the way I am, although over the past few weeks as far as Brighton the team I have supported for 54 years is concerned started to waiver. Injuries, the ongoing saga with De Zerbi and his future with the club have taken their toil on my optimism.
However, yesterday’s news regarding the financial profits of the club, a record for the premier league, Paul Barber committing to a long-term future with the club until 2030 which is fantastic for the club, and the return of João Pedro and Julio Enciso have all renewed my confidence in the future.
I can’t help thinking that the early release of the financial results for last financial year, which were hurriedly published on Monday night and then later taken down, was a response to De Zerbi’s rather overly transparent interviews about his future with the club, where he said on Saturday: “I want to speak with my club, I have a contract which is not a problem. The problem is to find the same plan for the future. “I have not decided my future, and I want to speak with Tony Bloom, to understand his plan and then we will take a decision together without problems.”
Brighton have a war chest now and if they want to keep hold of De Zerbi they must spend some of this money to give him the tools to go for success and avoid the problems that they have had this year.
I feel that this summer is going to be really interesting as far as Brighton signing new players is concerned and it could be very exciting. Already there is lots of noise going on about new signings, a lot of it admittedly paper talk, but if you manage to filter out all the crap there are some really good prospects being talked about.
All in all, it’s been a good start to the week news-wise and it will be even better with a win tonight at Brentford.

 

[ukpolska]

Albion announce a massive £122.8m profit for the 2022/23 season…

1. Doesn’t include Caicedo and Sanchez sales - they’ll be in next year’s accounts.
2. Tony Bloom has received the first repayment on his loan to the club.
3. “We now have a very solid platform to continue to make significant progress on the pitch, by investing in our squad,”

Bozza, do you know if there was any insurance payout the club got for Mwepu’s forced retirement and what influence it had on the financial figures?

 

[Seagull58]

There are certain businesses that don't need to advertise, Rolls Royce and Starlizard being two off the top of the bat. Tony's consortium is, I believe, by private invitation.
Stand to be corrected.

Starlizard also has an integrity division that works with a number of football leagues around the world monitoring betting patterns to root out corruption and match fixing.. Running betting adverts would not fit well.

 

[jcdenton08]

As others have correctly said, Starlizard is a private invite-only consortium for the very, very wealthy. They do not need to advertise.

 

[Brok]

Nearly 123 million pounds profit in one season! Blimey, well played Tony.

 

[Taybha]

Oooooh might have a few quid spare to repaint the roof blue and white

 

[cjd]

It’s the price to pay for having a split personality.

Regards

EP

Well, one half of you is just so good at putting financial things out there that we can all grasp. Genuinely, is appreciated, and thankyou.


The other half...? Hmmmmm. Always thought you were a fair minded mod on here with no side issues or grudges. We are a far cry now from the day of yourself, Lord and Lady Bracknell, and a few others. etc etc etc