Profit

[Admin]

5.3 million profit up to 31/12/2023 amazing what you can do when 95% of the ground is closed at 4 day games

[alanw]

5.3 million profit is a good headline figure. I read on another forum that we have a debt of 32 million, I guess this will increase with the development at Farington. I'm not an accountant so am wondering how financially secure we are. Are we relying on a stake in the Manchester Originals?

[Admin]

May 16, 2024 9:54:23 GMT alanw said:

5.3 million profit is a good headline figure. I read on another forum that we have a debt of 32 million, I guess this will increase with the development at Farington. I'm not an accountant so am wondering how financially secure we are. Are we relying on a stake in the Manchester Originals?

Hazard a guess Yes

[lancsdes]

Coincidentally , this was posted on Somerset’s Forum today. Might be useful .

I was pretty highly regarded as a reader of balance sheets in my early days in the bank but that was years ago now so no real idea whether that multiple of profits is a healthy amount of debt. This fellow reckons Lancs healthy.

brokencricketdreams.com/2024/05/12/i-read-every-county-cricket-clubs-financials-fascinating-revelations-are-county-cricket-clubs-really-struggling/?fbclid=IwZXh0bgNhZW0CMTEAAR0KJsK1nB3Bs4zpELlpibhMPuAkxTU0JAyq0MX16XBrZ1mawXqB8_5KB1w_aem_AZ4sftXCvgSj7GPaP1uvMsV3u-UlMhEOt-DjqUCaBsNeJnc7SaOvh1Zdsco0jtPRA1oa4hQhN1jhcR-HACb42UNj#google_vignette

[man in the stand]

May 16, 2024 10:41:27 GMT Admin said:

May 16, 2024 9:54:23 GMT alanw said:

5.3 million profit is a good headline figure. I read on another forum that we have a debt of 32 million, I guess this will increase with the development at Farington. I'm not an accountant so am wondering how financially secure we are. Are we relying on a stake in the Manchester Originals?

Hazard a guess Yes

I think no...the financing for the latest development would have been settled before the Hundread sell off was proposed. If, as is now rumoured, the ECB wish to sell all of their retained 49% Hundred share then I doubt if LCCC will want to sell any of their 51% there by ceded control to someone else.

I understand that the Farrington development is also financed by the ECB and Lancs County Council.

What would help is if MUFC can qualify for the Champions League..

[lancsdes]

You are in fantasy land with the bottom one MITS!