Board announce £254 K profit

[IMMORTAL HOWDEN ENDER]

[Sneckboy]

Forgive me for not joining in the fanfare! - but If that figure includes the Christie transfer, on the back of a once-in-a-blue moon season, that's quite alarming!

[+HawkeyeTheGnu]

Forgive me for not joining in the fanfare! - but If that figure includes the Christie transfer, on the back of a once-in-a-blue moon season, that's quite alarming!

Won't include the sale of Christie but will include the fee for Mckay.

[Alex MacLeod]

Clubs accounts are up to 15th May so do not include anything earned since then so Christie money not included.

[ICTRoughi]

Great to see we have made a profit once again especially with a lack of league sponsors and attendances fluctuating - puts last years achievements into perspective. 

Out of general interest, I wouldn't mind seeing how much our European campaign cost us, guess won't find out until next year. 

[PerfICT]

I'm with Sneckboy on this - even if it doesn't include the Christie transfer fee. The previous year's accounts showed a very modest profit, despite the league cup final appearance. This year's profit is on the back of the Scottish Cup triumph and sale of Billy Mckay. The implication is that, in the absence of any transfers or cup victories, the club will lose substantial amounts of money in any given season. No doubt that fact is as clear as day to KC and the team (Sunshine Band??) and underlies the cautiousness in the transfer market.

[Kingsmills]

Will not include the Christie transfer fee which, even with no cup final (probably) and a lower league finish (almost certainly) ought to ensure that we at least break even next financial year also.

Still need to be prudent but a healthy financial position going forward.....

[Kingsmills]

I'm with Sneckboy on this - even if it doesn't include the Christie transfer fee. The previous year's accounts showed a very modest profit, despite the league cup final appearance. This year's profit is on the back of the Scottish Cup triumph and sale of Billy Mckay. The implication is that, in the absence of any transfers or cup victories, the club will lose substantial amounts of money in any given season. No doubt that fact is as clear as day to KC and the team (Sunshine Band??) and underlies the cautiousness in the transfer market.

It is abundantly clear from a decade of accounts as a top tier club that, in the absence of windfalls such as cup runs and transfer fees, we have an inbuilt annual deficit circa £300,000 no matter how prudently the board run the club which they do.

Something that those moaning about lack of spending, perhaps including the manager, need to bear in mind.

[Charles Bannerman]

 

It is abundantly clear from a decade of accounts as a top tier club that, in the absence of windfalls such as cup runs and transfer fees, we have an inbuilt annual deficit circa £300,000 no matter how prudently the board run the club which they do.

Something that those moaning about lack of spending, perhaps including the manager, need to bear in mind.

That is absolutely my take on it as well. The good thing here is that not only is there a surplus of £254K for the year to 31st May which effectively covers the kind of underlying deficit Kingsmills refers to, there is also the Christie transfer which didn't happen until well after the end of the financial year so won't be in these figures. Statements issued by the club today in addition refer to increased season ticket sales for the current season so these are further modest safeguards for the future..... and not a green light to open the cash floodgates.

I'm not sure, once the SFA got their cut and remembering that ticket process were quite low, if the cup final would have yielded all that much and I have heard it said that for the year they won the Cup, St Johnstone returned a profit very similar to ICT's here.

In terms of expenditure on players, it really does have to be understood that for years the Board have successfully navigated a very narrow channel in between the twin potential disasters of financial trouble through overspending and footballing trouble through having too weak a squad. There really is very little wriggle room although at least some was made for the big gamble back in 2009-10 which led to the return to the SPL.

[IMMORTAL HOWDEN ENDER]

Well that should cover the rounds in the Heathmount until the end of the season - sorted.

[IBM]

2 hours ago, Charles Bannerman said:

That is absolutely my take on it as well. The good thing here is that not only is there a surplus of £254K for the year to 31st May which effectively covers the kind of underlying deficit Kingsmills refers to, there is also the Christie transfer which didn't happen until well after the end of the financial year so won't be in these figures. Statements issued by the club today in addition refer to increased season ticket sales for the current season so these are further modest safeguards for the future..... and not a green light to open the cash floodgates.

I'm not sure, once the SFA got their cut and remembering that ticket process were quite low, if the cup final would have yielded all that much and I have heard it said that for the year they won the Cup, St Johnstone returned a profit very similar to ICT's here.

In terms of expenditure on players, it really does have to be understood that for years the Board have successfully navigated a very narrow channel in between the twin potential disasters of financial trouble through overspending and footballing trouble through having too weak a squad. There really is very little wriggle room although at least some was made for the big gamble back in 2009-10 which led to the return to the SPL.

Well Charles I agree with you in this post  and the one above by Kingsmills.  It sound a lot of money but would easy dwindle away if mishandled like IHE's suggestion  , always keep some aside for a rainy day!

[12th Man]

That's great news and we even managed to earn £ 54,000 than Neil Doncaster. 

[Huisdean]

As I have said on this forum before, let's hope this puts to bed the idea that the club made vast amounts of money from last season and have not invested any money to move the club on. Until we can get attendances up we will make some losses unless balanced out by a good cup run so yet again it is up to the public of Inverness to decide if they want to keep a top flight football team. Whether that will happen...............

[Charles Bannerman]

1 hour ago, IBM said:

It sound a lot of money but would easy dwindle away if mishandled like IHE's suggestion  

Given Heathmount prices, you are dead right there IBM! However on that particular subject, I think times have been changing.

[rocky1]

3 hours ago, IMMORTAL HOWDEN ENDER said:

Well that should cover the rounds in the Heathmount until the end of the season - sorted.

Think the balance of power has moved to the Corrie!

[Scarlet Pimple]

In today's market place and taking into account that we have just exited probably our most successful season ever, the margin is razor thin and , once spent, that money would almost certainly take a long time to re-earn or recover.

Scary!

[IMMORTAL HOWDEN ENDER]

But you can now also see why Yogi is so frustrated ?

[Scarlet Pimple]

But, IHE, isn't patience supposed to be a virtue. Not one shared by me in spades in the past but methinks older John will just have to find a way to thole it. Aye.

[Broonerz]

It highlights how little money is currently in Scottish football.

Amazing season we had has given  little financial reward, and just shows why as a club we have to be so frugal.

it may be frustrating for Yogi, but he knew the parameters he would require to operate in, and irrespective of what we achieve that is not going to change.

[The Long Man]

If Yogi is frustrated, then he could always reflect on how small profit margins mean that signings have to be astute, good value and positive additions to the squad.

[IBM]

5 hours ago, Broonerz said:

It highlights how little money is currently in Scottish football.

Amazing season we had has given  little financial reward.

Not much from the Scottish Cup when the 'giant club' Celtic can only muster just over 20,000 fans for a semi final in their own city!

[wynthank15]

IBM it just shows the sorry state of Scottish Football, the product is poor and most of the lesser clubs are relying on loans, non leaguers and guys who have blown a couple of chances on making the grade or guys who are over the hill. I can't see the lesser clubs in the league maintaining full time football for long.I worked beside a guy whose son was in the Falkirk youth programme for three years, a good young player who was playing with the under 19s at age 17. As soon as Falkirk were relegated most of the youth system was binned, three years wasted, he's now an electrician.There's no money in Scottish Football.