Financial Accounts for 2022/23 | Page 2 | Vital Football

Financial Accounts for 2022/23

king_dezeeuw06 said:
These accounts are for the Championship season when the previous ownership were in charge. So we knew they were going to be truly awful due to the herculean levels of incompetence and mismanagement but they really are brutal reading.

The new ownership have kept all sell on fee's. So if Robinson goes for big money we will get any sell on.

The overall club wage bill was a mental 13m which included signing on fees, bonuses the previous year in L1. But that inexplicably jumped up by 10m to a bat shit crazy 23m after promotion despite us barely signing anyone and not having many Championship quality players . It appears the players pretty much got a double your money pay increases for winning promotion despite them already being paid over the odds in L1 - the level of spending for the quality of player we had was beyond ridiculous. It's beggar's belief the contracts they were giving out.

The above figures don't count 2m paying off Brannigan, Richardson, Toure plus their coaches. Most of that hasn't been paid yet and falls on Danson.

Brannigan appeared to be getting nearly 200k.

While the club did lose over 13m I don't believe all of that is debt still against the club. But Danson did inherit and pay off HMRC and player wage debts he needed to pay off in the first couple of weeks which probably came to something like 6-7m before other future payments he'll need to cover.

There was a line saying Danson is committed to covering costs 'for at least a year' after these accounts are published. And there was a reference to handing over the club down the line to another owner in a much better state. You could read something or nothing into those statements.

It's just a reminder to us all how fortunate we were to have Danson come in as we were in such a bad place financially we couldn't even go into administration!
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The year statement is the part that stands out to me
 
king_dezeeuw06 said:
These accounts are for the Championship season when the previous ownership were in charge. So we knew they were going to be truly awful due to the herculean levels of incompetence and mismanagement but they really are brutal reading.

The new ownership have kept all sell on fee's. So if Robinson goes for big money we will get any sell on.

The overall club wage bill was a mental 13m which included signing on fees, bonuses the previous year in L1. But that inexplicably jumped up by 10m to a bat shit crazy 23m after promotion despite us barely signing anyone and not having many Championship quality players . It appears the players pretty much got a double your money pay increases for winning promotion despite them already being paid over the odds in L1 - the level of spending for the quality of player we had was beyond ridiculous. It's beggar's belief the contracts they were giving out.

The above figures don't count 2m paying off Brannigan, Richardson, Toure plus their coaches. Most of that hasn't been paid yet and falls on Danson.

Brannigan appeared to be getting nearly 200k.

While the club did lose over 13m I don't believe all of that is debt still against the club. But Danson did inherit and pay off HMRC and player wage debts he needed to pay off in the first couple of weeks which probably came to something like 6-7m before other future payments he'll need to cover.

There was a line saying Danson is committed to covering costs 'for at least a year' after these accounts are published. And there was a reference to handing over the club down the line to another owner in a much better state. You could read something or nothing into those statements.

It's just a reminder to us all how fortunate we were to have Danson come in as we were in such a bad place financially we couldn't even go into administration!
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Brannagan was paid £195k
His pay off was part of the £2m

Danson has taken £4m of dept off the club
 
king_dezeeuw06 said:
I hope these accounts finally put to bed any last traces of the mad theory that Danson doesn't care and only bought us to get the stadium for the Warriors.

He's been a genuine dream come true for the fatal position we were in.
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Also the Lennigans have no ownershio of WRLFC.

Interestingly the rugby are currently 'owned' by a different Danson holding company, that is registered at a different address to Community Holdco, the Danson vehicle that owns WAFC.

Or maybe not interesting at all 😀
 
Perdika said:
Ithink this puts to bed all the talk of Danson just letting us stew in league one by not putting any money in.It seems he really is a genuine bloke who has the club and supporters in his heart.To me he hasn't put a foot wrong since taking us over and this statement gives hope that he is here long term.
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Didn't some folk say that about the last owners? That went well didn't it?
 
Frank Bullitt said:
Didn't some folk say that about the last owners? That went well didn't it?
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Difference is the previous owners picked us up cheap and debt free then immediately spent us back into danger with no plans for the future and failing to attract commercial sponsorships.

While Danson inherited huge liabilities and has gone about clearing them and is working to reducing the expenditure to reduce the risk. There is a clear plan for the future and we have been bringing in loads of new sponsors.

One was reckless and unsustainable, the other is sensible and trying to safeguard the future.
 
The fact Danson is still paying out millions to Kolo the Clown really grates with me. He should never have been anywhere near the club yet inexplicably was hired and is raking in this amount of cash. The dickheads that hired him should be liable for this. Totally irresponsible signing particularly when the club was knee deep in financial difficulties.
 
The last lot were quick fix con men. And a good few on here fell for it. As for Branagan will he ever get a job in football again. Probably will.
 
Whelans broken leg said:
Just. Hope looking at them figures we don’t panic and. Sell any one on the cheap.
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Don't think he will panic but might have to inreality
Way things are wages will be massively reduced
Some players sold to get some of his money
Back
With very little to spend to bring in new players
Way I see it we will have a weaker side next season compared to this
And a much bigger struggle on the field
With a big part of the team now here gone end of season
And could well be like this for quite some time
But at least we will still have a club just impossible to build a successful team for quie some time
But it needs to be sorted and it will be under danson
 
Frank Bullitt said:
All you lot kissing Dansons arse remember you were kissing Talals arse less than 2 years ago.

Enough said!
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Talal convinced his father in law to save us - without him we have have not found another owner and gone bust. So people were right to be grateful to him for that. But how they financially spent us into oblivion was unforgivable.

2 things can be true at once.
 
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