Page 26 is an interesting one on the player amortisation.
We brought in players for just over £100M. New player registrations of £101.8M. (Mostly on 5 year contracts so that adds costs of £20M a year to our amortisation cost).
Yet our disposals were £51M. I can't get anywhere near that figure so can only assume that they have taken a massive write down somewhere on the value of the squad - something like £30-£35M.
Anybody help me out on that?
Only had a quick look, but wouldn't new contracts have that effect?
Old contract effectively ends 30/31 May (contract renewal)
Then assume that new contract value comes into effect on 1 June, which will inflate next years figure, but have the effect of taking value off this year, depending on timing. I think this was why they changed the club accounting period a couple of times when they first came in.
It's some sleight of hand to make us look like we made a loss, I think.
There seems to be a fair bit of that going on, which is no surprise given KPMG involvement.
Having said that, I've only had a quick look and am probably completely wrong.
Also just seen in Strategic Report, that we are using higher player amortisation costs
« Last Edit: Mar 07, 2017 07:28:27 pm by Swab »
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