Accounts due today

[wolvesjoe]

To summarise, we likely passed FFP last year by £2m. As you were...

Swiss ramblers figures for non-promotion offsets are quite Conservative so might have missed the cut by a bit more, imo

 

[Golden Oldie]

http://www.friendsoffulham.com/forum/index.php?topic=70464

Fulham fan wants the Premier League to relegate Wolves (Big Cheat) and Cardiff (Little Cheat).

Which labels Fulham as (BIG Loser).
I appreciate that FFP and the lack of formal reconciliations with Profit & Loss a/c's make things difficult (guesswork for most of us), but surely when it's done by numerous people and it comes out ok you expect others to look at it before they post. Who said we didn't mate with Neanderthals?

 

[JonahWolf]

This is the only thing regarding Fosun that worry me-
They say they're in with their 10 year plan, but what if the value of Wolves increases to such a point, that Fosun say OK we're now at a level of return that we can now sell?

Unless/until the TV revenue bubble bursts, it just doesn’t make sense to sell a premier league club now.
The team can be invested in, and make a profit.
Ashley skimming tonnes out of Newcastle, Levy paying himself 6m a year and they’re only skint cos they’re spunking a billion on a stadium.

Makes no sense to make such massive investment and sell for a very small overall margin once it becomes potentially profitable.

 

[Leominster_Wolf]

Unless/until the TV revenue bubble bursts, it just doesn’t make sense to sell a premier league club now.
The team can be invested in, and make a profit.
Ashley skimming tonnes out of Newcastle, Levy paying himself 6m a year and they’re only skint cos they’re spunking a billion on a stadium.

Makes no sense to make such massive investment and sell for a very small overall margin once it becomes potentially profitable.

I think it's more than that. It's a brand to FOSUN and could potentially be a loss leader for other things. Greater exposure in prem and Europe, greater expose for FOSUN/ FOSUN brands. Win win really.
In all honesty who had heard of FOSUN in uk before they bought us. How many people in uk have now, even non wolves heretics
IMO FOSUN are in it for the long haul and certainly hope so

 

[Deleted member 4023]

Friends of Fulham - should be F**k O** Fulham

 

[JonahWolf]

I think it's more than that. It's a brand to FOSUN and could potentially be a loss leader for other things. Greater exposure in prem and Europe, greater expose for FOSUN/ FOSUN brands. Win win really.
In all honesty who had heard of FOSUN in uk before they bought us. How many people in uk have now, even non wolves heretics
IMO FOSUN are in it for the long haul and certainly hope so

Well yes, good point, that too.

But if the **** completely fell out of broadcast deals (fairly unlikely) and owning a premier league team meant consistent losses (like the championship or the old days), it could be a very different prospect.

Short of that, reckon we all good.

 

[Sussex Wolf]

This is the only thing regarding Fosun that worry me-
They say they're in with their 10 year plan, but what if the value of Wolves increases to such a point, that Fosun say OK we're now at a level of return that we can now sell?

When Fosun talk about a 10 year plan to illustrate they’re in for the long haul, it doesn’t mean their objective is to buy, generate a certain value and then sell their entire interest. It just means they have a long term business plan to make the returns they feel necessary to justify their investment and commitment. By their comments since, it looks like we are ahead of the plan, which is fantastic for us and them. They have talked about selling a minority holding and this is common practice amongst serious investors - it spreads their risk and it allows them to recover their initial investment without selling a controlling interest. In that way, the parent company is protected but they still benefit from the increasing value of the Wolves asset. That’s not to say they would never sell their controlling interest, but a buyer would need to exceed their internal valuation of their interest in the club or it would be because their parent company needed the cash.

 

[wolfgar]

Which labels Fulham as (BIG Loser).
I appreciate that FFP and the lack of formal reconciliations with Profit & Loss a/c's make things difficult (guesswork for most of us), but surely when it's done by numerous people and it comes out ok you expect others to look at it before they post. Who said we didn't mate with Neanderthals?

I found myself reading that and waiting for someone to say 'actually they haven't breached FFP' and to explain how it all works. It would have blown their minds. Unfortunately I think most had been so busy rushing in to complain about us cheating and calling for our relegation, that they neglected to read past the headlines concerning our financial statement or make any attempt to understand it at all in the context of FFP. I'm not sure a single one of them had the first clue what they are talking about, but they were saying it rather loudly anyway. Good luck carrying your wage bill in the chump league next season lads.

 

[wolvesaywe]

To summarise, we likely passed FFP last year by £2m. As you were...

Does beg the question of whether we should re-evaluate Steve Morgan?

Personally I found him an odious character but did he actually play a blinder in the end? His lack of willing to put any money in towards the end and force the club to pay its way had two effects that have (potentially) transformed our club forever;

1. Put a debt free club on the market, which Fosun have admitted was a major factor in their decision to purchase. And in fairness to Morgan he didn't get too greedy on the sale price (see Mike Ashley)
2. The profit years (albeit wrist slitting football wise) meant that Fosun had room for manoeuvre to spend within the confines of FFP

 

[cannockwolf]

Does beg the question of whether we should re-evaluate Steve Morgan?

Personally I found him an odious character but did he actually play a blinder in the end? His lack of willing to put any money in towards the end and force the club to pay its way had two effects that have (potentially) transformed our club forever;

1. Put a debt free club on the market, which Fosun have admitted was a major factor in their decision to purchase. And in fairness to Morgan he didn't get too greedy on the sale price (see Mike Ashley)
2. The profit years (albeit wrist slitting football wise) meant that Fosun had room for manoeuvre to spend within the confines of FFP

It did turn out that way but that wasn't his intention though was it

 

[Deleted at request of member 4337]

I found myself reading that and waiting for someone to say 'actually they haven't breached FFP' and to explain how it all works. It would have blown their minds. Unfortunately I think most had been so busy rushing in to complain about us cheating and calling for our relegation, that they neglected to read past the headlines concerning our financial statement or make any attempt to understand it at all in the context of FFP. I'm not sure a single one of them had the first clue what they are talking about, but they were saying it rather loudly anyway. Good luck carrying your wage bill in the chump league next season lads.

The lack of understanding about ffp surprised me too. I started reading the post in a Lindsay from Walsall voice.

 

[Deleted member 5962]

Does beg the question of whether we should re-evaluate Steve Morgan?

Personally I found him an odious character but did he actually play a blinder in the end? His lack of willing to put any money in towards the end and force the club to pay its way had two effects that have (potentially) transformed our club forever;

1. Put a debt free club on the market, which Fosun have admitted was a major factor in their decision to purchase. And in fairness to Morgan he didn't get too greedy on the sale price (see Mike Ashley)
2. The profit years (albeit wrist slitting football wise) meant that Fosun had room for manoeuvre to spend within the confines of FFP

I honestly think this is a case of unintended consequences. We shouldnt attribute hindsight to Morgans actions.

 

[Deleted member 4023]

I honestly think this is a case of unintended consequences. We shouldnt attribute hindsight to Morgans actions.

yep we won the supermarket trolley dash