Machiavelli
Well-known member
There's another popular current thread on highlight of the season. Can this be mine?
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Nottingham Forest - wheels falling off?
- Thread starter Wozza
- Start date
There's another popular current thread on highlight of the season. Can this be mine?
B.W.
New member
- Jul 5, 2003
- 13,666
Me too, but they need to continue that form for a few more games at least to become a realistic target for us to overhaul IMHO. TBH I don't care which other teams get in the play-offs, as long as we do. Our current main target is 6th, i.e. Wigan, and their form is superb. Reading still in the way too.
B.W.
New member
- Jul 5, 2003
- 13,666
I thought the £8M limit for FFP was for the next set of accounts, so not sure they will suffer yet. Isn't that why we front-loaded our costs and posted a huge £14M+ loss this time round? I.e. so we can hit the 'only' £8M loss next time?
Papa Lazarou
Living in a De Zerbi wonderland
But the next set of accounts relate to THIS season, so their excessive spending will affect their ability to meet the targets and any discretions will (possibly) be punished.
seagullsovergrimsby
#cpfctinpotclub
David Conn @david_conn 39s
For those asking, yes, Nottingham Forest, £17m loss 2013, poss more 2014, likely to struggle to meet League £8m loss for financial fair play
Isn't there generally a poor spell for every team? Perhaps this is just theirs and in a few weeks they will come good again? Of course, I hope the wheels are coming off and they continue to drop down, but I wouldn't be surprised if it's just temporary.
Paris
Well-known member
Even if Davies manages to get Forest into the play-offs his past record in the end of season lottery is woeful, bar Derby the season before they got tonked in the premier league(a different manager at that stage).
Machiavelli
Well-known member
Perhaps, but their poor spell is coinciding with a run of injuries (which other clubs have had to endure), particularly to midfielders, and this injury situation is not going to get better in a hurry. Which might have a bearing on the length of their poor spell.
SeagullSongs
And it's all gone quiet..
Oh I do hope so, I think I hate Billy Davies as much as [MENTION=249]edna krabappel[/MENTION] does.
somerset
New member
But it is good for the teams on the fringes, as the 'Trees' get reeled in, it means there are two p/o places up for grabs instead of just the one.
B.W.
New member
- Jul 5, 2003
- 13,666
So their accounts for this season will be published next season (February/March?) and only then, finally, they will suffer. That's my understanding, but I hope they get the book thrown at them sooner.
sydney
tinky ****in winky
i still reckon there is a fair way to go , whilst the home loss to wigan was an expected result( on my behalf) now we have lindegaard to put these chances away i am quietly happy.
for forest to flunk it would be probably the best thing after us making the play -offs and qpr missing out as well....i love this game ,i love our team , i love it i tell thee...!!
for forest to flunk it would be probably the best thing after us making the play -offs and qpr missing out as well....i love this game ,i love our team , i love it i tell thee...!!
seagullsovergrimsby
#cpfctinpotclub
Accounts for this season have to be lodged in December , so that embargoes can be imposed on non compliant clubs in January.
B.W.
New member
- Jul 5, 2003
- 13,666
Good. The sooner the better. Expect Forest to splash the cash on their 397th striker in the summer then.
Nottingham Forest have announced losses of £17.1million for the last financial year, meaning the club could struggle to adhere to Financial Fair Play rules this season.
The club breached FFP limits in 2012/13, when allowable losses were £10million.
Crucially, there were no punishments in place for breaching the rules last season - but there are this season with Sky Bet Championship clubs allowed to lose£8million.
Therefore, if Forest fail to reduce the deficit for the current campaign, they could be hit with fines and a transfer embargo next season.
When asked about the club's financial situation recently, Reds chairman Fawaz Al Hasawi said that the issue would be addressed in the form of sponsorship deals from several companies in his homeland of Kuwait.
The end-of-year accounts submitted on Wednesday morning showed that staff costs were up from £17.6million in 2011/12 to £21million, with wages accounting for £18.4million, dwarfing the club's turnover figure of £14.4million.
Kuwaiti owners, the Al Hasawi family, backed Forest considerably with £35.4million owed to them in the form of interest free loans, which would only be repayable when the club was in a position to do so, according to the accounts.
The average league attendance at the City Ground increased last season from 21,969 to 23,083, with the team performing better on the pitch following their fight against relegation during the 2011/12 campaign.
This also meant there was a raise in income from gate receipts, growing 6% to£7.1million. However, this was offset by a £700,000 reduction in the basic award from the Football League to £1.8million.
Despite the huge losses, according to the directors' report submitted along with the accounts to Companies House, the finances had stabilised following the takeover by the Al-Hasawi family, who bought the club in the summer of 2012 following the sudden death of previous owner and chairman Nigel Doughty the previous February.
Doughty funded Forest's losses personally through a loan account and, during more than a decade as owner, was thought to have put close to £100million into the club. At the time of the takeover, Doughty's estate was owed £85.3million.
As part of the acquisition, the Al-Hasawi family reduced the short-term debt by capitalising a "significant" element of those loans owed to Doughty's estate.
Just saw this on SSN
The club breached FFP limits in 2012/13, when allowable losses were £10million.
Crucially, there were no punishments in place for breaching the rules last season - but there are this season with Sky Bet Championship clubs allowed to lose£8million.
Therefore, if Forest fail to reduce the deficit for the current campaign, they could be hit with fines and a transfer embargo next season.
When asked about the club's financial situation recently, Reds chairman Fawaz Al Hasawi said that the issue would be addressed in the form of sponsorship deals from several companies in his homeland of Kuwait.
The end-of-year accounts submitted on Wednesday morning showed that staff costs were up from £17.6million in 2011/12 to £21million, with wages accounting for £18.4million, dwarfing the club's turnover figure of £14.4million.
Kuwaiti owners, the Al Hasawi family, backed Forest considerably with £35.4million owed to them in the form of interest free loans, which would only be repayable when the club was in a position to do so, according to the accounts.
The average league attendance at the City Ground increased last season from 21,969 to 23,083, with the team performing better on the pitch following their fight against relegation during the 2011/12 campaign.
This also meant there was a raise in income from gate receipts, growing 6% to£7.1million. However, this was offset by a £700,000 reduction in the basic award from the Football League to £1.8million.
Despite the huge losses, according to the directors' report submitted along with the accounts to Companies House, the finances had stabilised following the takeover by the Al-Hasawi family, who bought the club in the summer of 2012 following the sudden death of previous owner and chairman Nigel Doughty the previous February.
Doughty funded Forest's losses personally through a loan account and, during more than a decade as owner, was thought to have put close to £100million into the club. At the time of the takeover, Doughty's estate was owed £85.3million.
As part of the acquisition, the Al-Hasawi family reduced the short-term debt by capitalising a "significant" element of those loans owed to Doughty's estate.
Just saw this on SSN
And isn't that the problem, that some of these owners are not putting money into clubs but merely loaning them money (including TB) some charging interest, which I believe Tann is doing to Cardiff, and others interest free loans. In one sentence it says Doughty put in £100m and in the next his estate is taking out (or is owed) £85m!!!!!
Maybe I'm burying my head in the sand, or simply being naive, but I don't think we're that close.
Firstly, these finances are for last year. Last year, forest spent as much on wages as we did (though ours involved a big chunk of redundancy pay, remove that and our wage bill is less). A lot of the criticism regarding FFP and forest relates to this season's spending, which will be revealed in next season's FFP report.
While we only better their losses by 2.4m, ours was reported as including things brought forward, allowing us to claim to be in line to meet next season's target, where as one of the reports I saw for forest suggested they were expecting larger losses is season.
We'll know next season if the criticism of forest and their seeming disregard for FFP is legitimate.