Oxford United announce £1,000,000 loss!

[oxgull]

Just heard on Cack FM here in darkest Oxfordshire. OUFC have made a big loss over the past financial year. Get the collection buckets out.
Discuss!!!

P.S. For Cack FM see Jack FM

[PhilGull]

It's on their OS, http://www.oufc.co.uk/news/article/0011 ... 66507.aspx.

Disgusting. Professional football is just ridiculous now. How is it fair that we can get relelgated while tring to balance the books where they can get in to massive debts and stay in the league.
After the Chappell news this just about does me in.

[gullintwoplaces]

No doubt further troubles will lead to administration, a ten point deduction, eventual survival and lots of unhappy creditors who will have unwittingly paid for transfer fees, players' wages and ground improvements. Then they can start all over again, spending money that they haven't got, buying success with other people's money and occasionally having a tricky season whilst being "punished" for their profligacy. In the meantime, the club we support gets screwed.

[AustrianAndyGull]

As mentioned a few months back, up here in deepest and darker Derbyshire, Chesterfield need to save £3m and have asked the local council to write off a £1m DEBT!! Meanwhile they have been signing loanees and players willy nilly especially the likes of Jay O'Shea who has catapulted them to the fringes of the play offs yet they have no cash? We on the other hand, run ourselves prudently, can't even sustain a fdew loanees longer for than a couple of months and are just 270 minutes from possible relegation. So Oxford isn't unique Oxgull, there are plenty of teams at it and it's just so unfair but i doubt Chesterfield will think that if they get to the play off final and make loads of money to help repay some of the money and then go up to league 1. It's a gamble that will have paid off for them, the problems are though when they DON'T pay off and then they come cap in hand asking for handouts. These clubs should then be left to rot in the mess of their own doing.

[ferrarilover]

How? How does a business as small as Oxford United FC lose £2740/day? They only have 50 staff and two buildings. 99% of the main building is closed for 99% of the time and the second building is little more than a hut surrounded by fields? 50% of their staff work 20 hours/week or fewer and maybe 5% are graduates. What sort of money are they paying their players?
5951 attendees on average each paying an average of £18 is £107,118/home match. That's £2,463,714 over the course of a season. That's to say nothing of the many, many other revenue streams they have such as sponsorship, cup games, advertising, catering (which is some of the most expensive anywhere) etc. They must be bringing in £5,000,000/year and they're still a million down. How is that possible? How is a business as small as OUFC spending £6,000,000 a year.

Over the last few days, we've had some interesting posts about VAT and what not. That I could understand because it makes sense. This, on the other hand, I'm not sure anyone will be able to explain this in a manner which makes sense to me. Are they paying their players £5000/week? Are the Board taking money out of the club? Do they chauffeur the players about in Bentleys? I genuinely don't understand how this is possible. Is it possible to see (Companies House perhaps) their financial paperwork? Would that give us a clue, or would it all be accountancy nonsense and fudging?

Almost regardless, losing a million pounds is ridiculous and completely unnecessary. They haven't even got four sides on their ground for God's sake.

Matt.

[cambgull]

It really is about time the FA should start cracking down on this. For every penny a club loses one year, they should have to make back the next whilst being forced to not increase ticket prices, meaning that every two years, a club is financially solvent. If a club is to spend heavily one season, they must make cut backs the next or create other ways of making money. It would stop clubs from spending beyond their means, for fear of almost guaranteed relegation the next year.

A player would never want to join a club who are known for spending beyond their means, knowing that he could be unemployed again the next summer, so he would join a team known for being financially solvent and would be playing for a team appreciative of his talents, not just hoping for a quick promotion push.

[Glostergull]

Wasn't there some plan being moooted or even going to be trialed where clubs had to submit their budgets for approval by the league to make sure they lived within their means. I am sure I saw something where Fifa or UEfa where proposing to support of this trial. Not sure where this was to happen but It would be welcome