Financial Loss 2.24 million | Vital Football

Financial Loss 2.24 million

libertine

Vital Reserves Team
#3
Not good. I do think a lot of money has been wasted on non playing staff. I've been into the city centre club shop on some Saturdays where there's no customers but 4 members of staff behind the till.
With increased merchandise sales, huge income at the fan zone and the biggest average attendances in L2 last season, the loss is concerning.
 

imps_joe

Vital 1st Team Regular
#6
Not a finance expert by any stretch of the imagination, but a little suprised by how big that number is. Ihopefully someone can digest it and put my mind at ease slightly.
 

berksimps

Vital 1st Team Regular
#7
The loss will be higher than most expected, is concerning and probably confirms that costs became a secondary consideration under the Cowleys , in order to get us promotion.
Hope Clive and Liam are having a real hard look at the situation and talk to well run clubs such as Shrewsbury. Do we really need so many non playing management and staff.
The situation is unsustainable, control costs and you control the long term viability of a club. We have a limited ability to increase income without a run in the FA Cup or selling on players: the future budget needs to reflect that and not rely on it.
Thank goodness for our magnificent home support.
 

Brendan Bradley

Vital Squad Member
#11
It doesn't really surprise me at all.

The previous season the loss was £1,089,485 and that was the year we won the Checkatrade trophy and sold both Raggett and Woodyard.

Last season we had only the modest sales of Green and Waterfall, but brought in expensive, experienced players like Shackell, O'Connor, and Akinde, and for half the season were carrying three goalkeepers.

Add to that promotion bonuses and you can see why there have been so many new share allotments.

Having gone up to L1 it was for the best to return to the original idea of developing, in the main, younger players as it reduces the wage bill and increases the chances of getting transfer fees.
 

clanford

Vital Squad Member
#13
Looks bad as a stand alone figure and I am no expert on finances in anyway but it seems to me that the board have speculated to accumulate which in this case was promotion. We have found League 1 a very different ship, and to try the same tactic would be extremely damaging to the club. As a result we have made a very conscious change of direction in our model in that we are now looking to nurture and sell our players whilst taking smaller steps up the ladder. We have a very sensible board steering the good ship Lincoln in the right direction. Looking on Twitter, there is a breakdown of the figures by some financial whizz.
 

sedgleyimp

Vital 1st Team Regular
#14
Will read it in more detail but losses last season would be expected on this level to me as clearly the boat was pushed out to secure promotion. I think we knew that at the time. Going forward investment will be made into younger members of the playing staff being developed in order to sell them on at a profit. Similar in many ways to what's happened this window.
Seems on the face of it to be a big number but in the world of modern league football probably not in all honesty
 

Casperimp

Vital 1st Team Regular
#16
I think you have to put it into perspective! We were clearly paying huge amounts to the likes of Akinde and still are to the likes of Freck etc These losses this year will clearly be offset by the compensation for the Cowleys and the transfer fees for the likes of Toffolo. As it says we pushed the boat out to get promotion and now we are controlling costs by bringing in and developing players and changing the model.

I think it is clear one of the reasons why the Cowleys left now if we didn't already know it! They had obviously been told that we weren't going to spend out silly money this season. No wonder Danny kept bleating on about the budget!
 

Sincilbanks

Vital 1st Team Regular
#18
Welcome to League 1 and playing with some of the big boys.

We're at a crossroads in the next 3 seasons or so and the wrong decision could wreck all of the fantastic progress we've made in the last 3 seasons and see us back down the leagues almost as quick as we came up.

Time to hunker down, for the fans to rein in their expectations and let the club and management team work out ways to consolidate our presence in League 1 while we develop some talent, we cannot afford to keep sustaining these losses without eventually borrowing some money from someone who is eventually going to want it back.

And how much of a dent is an extra 2000 capacity at Sincil Bank going to make in that loss? Not much, not much at all...
 
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buckielugger

Vital 1st Team Regular
#20
Welcome to League 1 and playing with some of the big boys.

We're at a crossroads in the next 3 seasons or so and the wrong decision could wreck all of the fantastic progress we've made in the last 3 seasons and see us back down the leagues almost as quick as we came up.

Time to hunker down, for the fans to reign in their expectations and let the club and management team work out ways to consolidate our presence in League 1 while we develop some talent, we cannot afford to keep sustaining these losses without eventually borrowing some money from someone who is eventually going to want it back.

And how much of a dent is an extra 2000 capacity at Sincil Bank going to make in that loss? Not much, not much at all...
Except club basically can't grow the income from gate receipts at all without doing that.
We're pretty much maxed out atm.

That extra Stacey West will be to fill it with away fans all paying the full rate and give us at least some extra income.