The statement below is noticeably, and unsurprisingly, more vague about things than last years excellent figures.  Obviously the good spin is that we met, or even bettered, our target, however any ideas on what time period we are talking about? Does this include the Jimmies/MMc change over?  Would also be interesting to know the bottom line: turnover, debt, wages.

 

From Redweb...

 

 

Aberdeen Football Club plc Announce Annual Results to 30th June 2009 -

 

Operating Target Met for the Fifth Year in Succession

 

Aberdeen Football Club plc today announced the trading results for the year ended 30 June 2009 which confirms that for the fifth year in a row the Club achieved its stated operating target.

 

Commenting on the results Pittodrie Managing Director Duncan Fraser said "In the previous Financial and Operating Review I stated that I expected an operating loss before depreciation and amortisation of over £600,000 as a result of the continuing growth on the base football budget. Even after exceptional items that operating loss came in at £322,000.

 

"In delivering the budget year on year we have demonstrated to our creditors our commitment to keep tight control on the business to avoid the type of drastic measures faced by an increasing number of clubs throughout the country."

 

Even allowing for the extremely limited number of cup ties at Pittodrie during the period covered, the Club achieved the second highest turnover in its history and the wages to turnover ratio after adjusting for royalties came in at 58 per cent, within the recommended industry targets.

 

Commenting on the much publicised Setanta Sports failure Fraser indicated that " It has been well documented the position that we took with regards to this and the consequences of that decision will be in the region of £3 million in lost revenue to our club over the coming 3 years. Since my appointment to the SPL Board in January 2009 there has been a new Chairman and Chief Executive brought on board and I believe we can work towards a position whereby we can get a more viable television deal when we go back to the market at the appropriate time."

 

Looking ahead Fraser said, "With the challenging economic conditions faced by all organisations it is vital the Club maximises its cash generating potential. This will include continuing to strive for playing success and the rewards that go with it, while at the same time developing as many quality players as possible through our own youth development system."

 

In that regard Fraser again paid tribute to Willie Miller and the football department, "The Club had the foresight to deliver real investment into youth development and, down to the hard work of the likes of Willie Miller, Lenny Taylor, Neil Simpson and the rest of the staff we are seeing tangible rewards in this area, which the management team is already benefitting from."

 

In terms of the new stadium, Chairman Stewart Milne acknowledged the importance of the identification of the site at Loirston Loch for the proposed development stating, "This project has the potential to deliver a top class facility providing enormous benefits to the region as well as the Club, and it represents the most ambitious new-build stadium in Scotland for many years."

 

He also recognised the need for a successful team on the park to run in parallel with this. "The Board recognises the work undertaken by Duncan Fraser and Willie Miller in challenging economic conditions that they both acknowledge and understand." He also paid tribute to the Pittodrie staff who he stated have been, "extremely dedicated and committed to succeed in the difficult economic conditions facing all sectors, not just football."

 

The Club has confirmed that this year's Annual General Meeting will take place on the evening of Monday 23rd November at Pittodrie Stadium.

Not to mention the fact we'll have no asset for security on our loans. This new stadium is gonna be the death of Aberdeen FC, imho.

Someone with the actual accounts can confirm but aren't the interest payments now something outrageous like £800,000 a year? There's also the fact that the loans have to be paid back next year and that the sale of Pittodrie is linked to the paying back of the debt.

Someone with the actual accounts can confirm but aren't the interest payments now something outrageous like £800,000 a year? There's also the fact that the loans have to be paid back next year and that the sale of Pittodrie is linked to the paying back of the debt.

there is a link at the bottom of the article on afc.co.uk that takes you to the full accounts.  You are correct about the last two points, would have to check your first point.

 

Goto: http://www.afc.premiumtv.co.uk/articles/aberdeen-football-club-plc-announce-annual-results-to-30th-june-2009-20091031_2212158_1842601

Interest payments were £698,000. Overall loss £1.642M.

Not to mention the fact we'll have no asset for security on our loans. This new stadium is gonna be the death of Aberdeen FC, imho.

 

Or it'll be our saviour!

It will only be our saviour if someone is daft enough to pay £12M+ for the land at Pittodrie. I'm no land expert but I would have thought that was unlikely at best.

It will only be our saviour if someone is daft enough to pay £12M+ for the land at Pittodrie. I'm no land expert but I would have thought that was unlikely at best.

 

If only we had one of them in charge 

Are you fishing? If it's not Milne (and Ian Donald) who is responsible then who is?

 

Calderwood.

 

But seriously, I blame Donald and Milne.  Ian Donald's father would turn in his grave if he saw the mess his son has made.

 

But in saying that, I also believe that Milne is keeping us going.  If he was to walk away now (with nobody coming in) we'd been in more shit than Mizer's finger.

 

Ian Donald's father would turn in his grave if he saw the mess his son has made.

 

 

Totally, but I also feel that Dick Donald - as good a chairman as he clearly was - let the club down in not taking us forward when he was able to do so.  Things like him not wanting to have a shirt sponsor after we won the ECWC etc was very shortsighted, and had he listened to Chris Anderson more then things may have been so, so different in the finance side as well as the playing side.

Calderwood.

 

But seriously, I blame Donald and Milne.  Ian Donald's father would turn in his grave if he saw the mess his son has made.

 

But in saying that, I also believe that Milne is keeping us going.  If he was to walk away now (with nobody coming in) we'd been in more shit than Mizer's finger.

 

 

Totally, but I also feel that Dick Donald - as good a chairman as he clearly was - let the club down in not taking us forward when he was able to do so.  Things like him not wanting to have a shirt sponsor after we won the ECWC etc was very shortsighted, and had he listened to Chris Anderson more then things may have been so, so different in the finance side as well as the playing side.

 

I don't think thats a fair shout, its easy 25 years later with the commerical nature of football in 2009 to say that but back then....I think the last thing you can accuse the Aberdeen board of that time of being is shortsighted.

I don't think thats a fair shout, its easy 25 years later with the commerical nature of football in 2009 to say that but back then....I think the last thing you can accuse the Aberdeen board of that time of being is shortsighted.

 

Well, Anderson wanted us to get shirt sponsorship with Shell who did offer it. Donald settled on sponsorship on the back of the training tops from Hydrasun.  Donald baulked at the £1m fee for Boniek (supposedly) but Anderson urged him to go for it because of the media exposure, increased gates etc (again, supposedly).  It's all conjecture, of course, but look at what both deals could have done for us.

Well, Anderson wanted us to get shirt sponsorship with Shell who did offer it. Donald settled on sponsorship on the back of the training tops from Hydrasun.  Donald baulked at the £1m fee for Boniek (supposedly) but Anderson urged him to go for it because of the media exposure, increased gates etc (again, supposedly).  It's all conjecture, of course, but look at what both deals could have done for us.

 

Wasn't aware of those bits of info to be honest and I agree looking back now those sums especially at that time were massive amounts of money, there's also no doubt Anderson knew his stuff, just think DD couldn't be expected to have acheived anything more during his reign 

Apparently DD wasn't too keen on the Dons top being ruined with some company's logo and that's an old fashioned view which i can totally understand him taking. I don't want to criticise the guy, cos he loved the club as much as we all do. He was delighted that we were the top boys in Europe and had a few million in the bank... who wouldn't be...?

Apparently DD wasn't too keen on the Dons top being ruined with some company's logo and that's an old fashioned view which i can totally understand him taking. I don't want to criticise the guy, cos he loved the club as much as we all do. He was delighted that we were the top boys in Europe and had a few million in the bank... who wouldn't be...?

 

Yeah thats what I kind of alluded to earlier, old fashioned values got us to the top so weren't all bad.

 

Modern times we'd have made a lot more than £1M with that kind of success. Just a shame ID couldn't have repeated the magic of DD 

Yeah thats what I kind of alluded to earlier, old fashioned values got us to the top so weren't all bad.

 

Modern times we'd have made a lot more than £1M with that kind of success. Just a shame ID couldn't have repeated the magic of DD 

 

Indeed.

 

However, are you aware the guy in your avatar has been arrested for domestic abuse?  Apparently the other day he played his latest album to his wife...

 

Indeed.

 

However, are you aware the guy in your avatar has been arrested for domestic abuse?  Apparently the other day he played his latest album to his wife...

 

 

> 

Operating target met, but the patient died?

Operating target met, but the patient died?

 

Not yet anyway.

Operating target met, but the patient died?

 

The financial statistics are like miniskirts.

http://www.football-finances.org.uk/aberdeen/2009/

 

That doesn't look like a rosey picture to me.

 

That doesn't look like a rosey picture to me.

Nope

basically all the good work (cash boost) achieved with the euro league was pissed away last season.  Will be even worse this season as presumably the real effect of the Setanta collapse won't be seen in these accounts

 

That doesn't look like a rosey picture to me.

 

I don't understand this. isn't the story that zero and the decent players got booted because the club wanted to cut costs? what exactly caused such a rise in debt from 03 onwards???