Thursday, February 27, 2014

Quote of the day

"Matchday and commercial revenue is a key driver because that's where the Club can compete with - and outperform - its competitors to enhance its spending capabilities. Ultimately the income the Club generates, particularly, given the restrictions of the Premier League FFP Rules, from matchday, commercial i.e. non-TV income, will directly impact on the strength and quality on the pitch."

The club's board issue a veiled warning to supporters contemplating a boycott over Jabba's continued ownership of the club: do so (whether by simply staying away or by refusing to give money to club catering services and bars, the course of action proposed by Neil Crossley and Time4Change) and you'll be harming the club and the team rather than the owner.

The comment appeared in the statement accompanying the accounts for the year ending June 2013. Commercial revenue was up on the previous season (24.2 per cent to £17.1m), presumably partly due to the contribution of sponsorship from Wonga, though the purchase of a club-branded onesie for me by my work colleagues will also have helped...

Matchday revenue was also up, by 15.9 per cent to £27.8m. Given that this was partly attributed to the additional Europa League matches, which also contributed to the media revenue, then one does wonder why that competition is apparently regarded with distaste. The answer, I suppose, lies in the fact that media revenue overall was down eight per cent to £51m, that this is tied to our league position and that last season's lowly finish wasn't offset by our European adventure. In this regard, it could be argued that we should prioritise the Premier League and that Europe was a distraction (a source of injury and fatigue) that proved costly in terms of our league position. I'd maintain that we should have built a squad that could cope with the dual demands, but I doubt that's the way the powers-that-be would see it.

One positive (particularly in relation to many other clubs) is that we're no further in debt than we were last year - we still owe Jabba his £129m loan, but it's interest-free and there's no timescale for repayment (though presumably that does mean he could suddenly insist on it).

Update: In his post about our accounts on his Football Economy blog, Wyn Grant notes: "The argument that lacklustre spending by Ashley will be justified by the arrival of financial fair play rules is something of a gamble. It still remains to be seen how these complex rules will be implemented in practice or whether they will be subject to a legal challenge." A very valid point - as laudable and honourable as our apparent determination to play by the rules is, we might be left looking like chumps if others flout them and suffer little or no punishment as a consequence.

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Anonymous Anonymous said...

can we call back tav to replace santoon? debs fantastic but dummet very poor left back. what has happened to bigy anyone ?he was class in Europe.santoon has gota be away this sommer

4:52 pm  
Blogger St.Toonitic said...

As a Yank who first took a shine to NUFC in 2008, can someone please explain to me how an owner gives a loan out to a piece of his property? Isn't that called an investment?

3:21 pm  

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