I am completely confused. There are rumours and facts and things disproven . I do not know which is which. Anyone any the wiser?
1. UNSUBSTANTIATED -- on WACCOE: That we are out of cash and not paying bills. On the way to administration again. Explains the strange behavior with Ward. 2. UNSUBSTANTIATED -- Square Ball on WACCOE: That there was one recent and genuine bid by Yanks that MS knocked back. There is another on the table know that is supposedly substantial and more likely to be accepted. Explains nothing. I am skeptical. 3. From TRUST source [ I think ] that shows what a bloody mess we are in: *The New Regime - Outro 2011 (June 2011 accounts)* > > 1. As at 30 June 2011 Outro had invested 500k into LUFC and temporarily > loaned them a further 975k of their cash (which has now been repaid) > however, they have also taken 4.6m of cash from LUFC and loaned it to > various other related companies (Leeds United Media getting 255k, Leeds > United Pavilion getting 2.7m, and whilst it cannot be verified, YR probably > got the remaining 1.6m). LUFC do owe 255k to their relations so, in total > we can see that Outro has taken a net 3.8m cash out of Leeds United > Football Club Limited. > 2. Since Admin (4 accounting years ago), the club has received 12.6m in > cash from the sale of players and reinvested 7.2m back into the playing > squad, they are also currently due a further net amount of 419k in cash > (from player trading). This will be a net cash gain of 5.8m. > 3. Conversely, since admin, 9.6m has been spent on buildings and > improvements, with a further 6.5m earmarked to be spent in the near future > (so a total 16.1m). Given the size of this investment it is little wonder > that the club needed the cash injections from a loan of 5m and the 3.2m > from the preference share award. > 4. There remains a working capital shortfall at the club that continues to > be funded by utilising future season ticket sales income but, with part of > this money now being promised elsewhere for the next two seasons (due to > the terms of the 5m loan) there is going to be less of the 8m cash to go > round. > 5. Over the 4 years, the Football Club has made an Operating Profit > (excluding Player trading) of 737k on a turnover of 107m. Sadly, this year > we cannot tell how much was added to the 1.47m already paid to R M Taylor > as he stepped down from the board. But we are told Shaun and Yvonne have > taken combined salaries of 299k. > > 6. Unfortunately other LCH group companies haven't fared as well as LUFC > during the year with the Pavilion losing 197k, LU Media losing 2k (both of > which were included in LUFC last year), YR losing 86k and LCH itself losing > 157k. This takes the combined losses for the other Group companies over the > 4 year period (excluding those that might have occured whilst being part of > LUFC) to 4.2m. > > Other key stats for those that are interested: > > Wages to T/O 46% (v 45% last year) [alternatively, by adding Soc Security, > could be quoted as Staff cost to T/O at 51% (v 50% last year)] > Wages totalled 14.9m (v 12.4m last year) > Rent totalled 1.8m (up 4% on last year) > > > 6. Unfortunately other LCH group companies haven't fared as well as LUFC > during the year with the Pavilion losing 197k, LU Media losing 2k (both of > which were included in LUFC last year), YR losing 86k and LCH itself losing > 157k. This takes the combined losses for the other Group companies over the > 4 year period (excluding those that might have occured whilst being part of > LUFC) to 4.2m. > Other key stats for those that are interested: > Wages to T/O 46% (v 45% last year) [alternatively, by adding Soc Security, > could be quoted as Staff cost to T/O at 51% (v 50% last year)] > Wages totalled 14.9m (v 12.4m last year) > Rent totalled 1.8m (up 4% on last year) > If you have reached this point - congratulations for sticking with it - > now, if you haven't already, PLEASE JOIN LUST! Dr Michael Benjamin, Community Psychiatrist ------------------------------- myRay: On-line Self-Help CBT http://www.myRay.com http://www.myRay.org ------------------------------ Mental Health: http//www.MyDoctorExplains.com -------------------------------- Auditing || Quality Control http://www.MyDoctorExplains.com/alamo/ -------------------------------- Blog: http://www.DrMichaelBenjamin.com _______________________________________________ Leedslist mailing list Info and options: http://mailman.greennet.org.uk/mailman/listinfo/leedslist To unsubscribe, email [email protected] PETE CASS (1962 - 2011) Rest In Peace Mate
