League Two 23/24

[CREDYGRECIAN]

The pitch at Bradford is like a ploughed field

 

[haka]

Has a club ever won "Division 4" and then dropped out of the league 2 years later? FGR could do it this season.

Serves them right for nicking our title ...

 

[DB9]

Wrexham have published their financial report from last season (22/23), According to Goal.Com, Their two Hollywood owners loaned the club (Owed) £8.9m But they say they are in no hurry for the club to repay them, They made an operating loss of £5.1m and their wage bill increased to £6.9m, More than most L1 clubs says the website. Not cheap if you want success and maybe a sobering thought to the TUST that although TUFC wont need that sort of money, The cheapest thing about owning a football club is actually buying it, The running costs it takes, You need a few quid behind you.

 

[Oldsmobile-88]

Sutton are making a good fight of avoiding relegation. 3 wins on the spin. They could have done without Colchester scoring a winner in added time against Newport.
Colchester also have played 3 games less than Sutton, are a point ahead 3rd from bottom.
Sutton’s reluctance to part with their manager earlier in the season could come back to haunt them.

 

[sign of the chimes]

Wrexham have published their financial report from last season (22/23), According to Goal.Com, Their two Hollywood owners loaned the club (Owed) £8.9m But they say they are in no hurry for the club to repay them, They made an operating loss of £5.1m and their wage bill increased to £6.9m, More than most L1 clubs says the website. Not cheap if you want success and maybe a sobering thought to the TUST that although TUFC wont need that sort of money, The cheapest thing about owning a football club is actually buying it, The running costs it takes, You need a few quid behind you.

I've not looked at the summary, or accounts in any detail, but given this is said to be a loan, it would be interesting to see what, if any, interest rate the owners are charging on it; as it's a fair old whack for the club to be borrowing even off the back of getting them back in to the league. Presumably the debt to the owners will increase, if not this season - then next if they make it in to L1?

 

[Spoonz Red E]

I've not looked at the summary, or accounts in any detail, but given this is said to be a loan, it would be interesting to see what, if any, interest rate the owners are charging on it; as it's a fair old whack for the club to be borrowing even off the back of getting them back in to the league. Presumably the debt to the owners will increase, if not this season - then next if they make it in to L1?

3% over the Bank of England base rate.
In the financial year to June 30, 2022, the interest charged was £43,679.

Wrexham's accounts explained: Welcome to Wrexham plan and TikTok sponsorship

The accounts for Ryan Reynolds and Rob McElhenney's first full season at Wrexham reveals how turnover soared by 404 per cent to almost £6m

theathletic.com

 

[fred binneys head]

I can’t read the article due to the firewall, but that doesn’t sound like 3% over base on £9m to me. Might be a timing thing in terms of when they received the loans I guess?

 

[Spoonz Red E]

I can’t read the article due to the firewall, but that doesn’t sound like 3% over base on £9m to me. Might be a timing thing in terms of when they received the loans I guess?

The article was based on Wrexham's first season with the Hollywood owners.

I can't do a cut and paste due to copyright but here are the key points distilled:

The year to June 30, 2022 — the first full season with Reynolds and McElhenney at the helm.

• Turnover up by 404% to almost £6m
• Posted loss of £2.9m, much of which was down to a hike in player wages and football costs as the club chased promotion to the Football League.
• The R.R. McReynolds Company LLC, had loaned the club £3.67million, primarily to fund the purchase of the freehold to the Racecourse Ground.
• Another £1.2million was invested in the form of shares.
• Purchase of the Racecourse Ground in a £2million deal from Wrexham Glyndwr University.
• Matchday income - £2.65m
• Retail income £1.3m. (24,000 team shirts sold)
• Sponsorship and advertising - £1.05m. (incl TikTok, Expedia and Aviation American Gin)
• Football costs up by 294%.
• Wage bill estimated at £2.5 million.
• £1.2m spent on players during the financial year.
• Staff numbers across the club rose from 80 to 195.

Does the club pay interest on the £3.7million in loans from the owners?

It does, yes. At 3% over the Bank of England base rate, which at the moment stands at 4.25%. This means the interest on the loans being paid currently is 7.25%. In the financial year to June 30, 2022, the interest charged was £43,679.

Ballpark figure in terms of what the club earns from the series Welcome to Wrexham?
Nothing, directly at least. Instead global exposure drives the club’s commercial operations.

Kieran Maguire's take.
“They have been generous owners. They’ve put money in in the form of shares. At the same time, they’ve also lent the club money and are charging interest. That’s not always the case with owners. But what this allowed the club to do is spend over £4million on property assets. That is great, as it is setting the club up to become more independent and more sustainable. That can only be welcomed. I’m always happy when money goes into the infrastructure rather than, say, what did by blowing it all on players ... Going forward, though, the big question for me is whether Reynolds and McElhenney can attract other investors who will want to continue the progress after being seduced by the Disneyfication of Wrexham. That will be key in the longer term.”

 

[sign of the chimes]

The article was based on Wrexham's first season with the Hollywood owners.

I can't do a cut and paste due to copyright but here are the key points distilled:

The year to June 30, 2022 — the first full season with Reynolds and McElhenney at the helm.

• Turnover up by 404% to almost £6m
• Posted loss of £2.9m, much of which was down to a hike in player wages and football costs as the club chased promotion to the Football League.
• The R.R. McReynolds Company LLC, had loaned the club £3.67million, primarily to fund the purchase of the freehold to the Racecourse Ground.
• Another £1.2million was invested in the form of shares.
• Purchase of the Racecourse Ground in a £2million deal from Wrexham Glyndwr University.
• Matchday income - £2.65m
• Retail income £1.3m. (24,000 team shirts sold)
• Sponsorship and advertising - £1.05m. (incl TikTok, Expedia and Aviation American Gin)
• Football costs up by 294%.
• Wage bill estimated at £2.5 million.
• £1.2m spent on players during the financial year.
• Staff numbers across the club rose from 80 to 195.

Does the club pay interest on the £3.7million in loans from the owners?

It does, yes. At 3% over the Bank of England base rate, which at the moment stands at 4.25%. This means the interest on the loans being paid currently is 7.25%. In the financial year to June 30, 2022, the interest charged was £43,679.

Ballpark figure in terms of what the club earns from the series Welcome to Wrexham?
Nothing, directly at least. Instead global exposure drives the club’s commercial operations.

Kieran Maguire's take.
“They have been generous owners. They’ve put money in in the form of shares. At the same time, they’ve also lent the club money and are charging interest. That’s not always the case with owners. But what this allowed the club to do is spend over £4million on property assets. That is great, as it is setting the club up to become more independent and more sustainable. That can only be welcomed. I’m always happy when money goes into the infrastructure rather than, say, what did by blowing it all on players ... Going forward, though, the big question for me is whether Reynolds and McElhenney can attract other investors who will want to continue the progress after being seduced by the Disneyfication of Wrexham. That will be key in the longer term.”

Thanks @Spoonz, appreciate the summary. Will be interesting to see how it pans out

 

[DB9]

One thing I noticed was 24,000 shirts were sold, Not too shabby that