manc_don Posted November 21, 2015 Share Posted November 21, 2015 Armageddon is terrible CHAIRMAN Stewart Milne today revealed the debt free Dons are in their strongest position financially for years and ready to push on with plans for a new stadium and training facilities. Milne was speaking as Aberdeen FC’s annual report today confirmed a record turnover of £13.077 million and an increased operating profit of £509,000. The Dons chief emphasised Loirston Loch remains the preferred option for a new stadium with progress being made on that option with Aberdeen City Council and their development partner at Loirston. Aberdeen are operating debt free for the first time in 21 years. That is following last year’s Annual General Meeting where the refinancing of the club’s debt was formally approved, enabling £14.493 million to be moved to Shareholders’ Funds. Milne today insisted everything is set up at Aberdeen FC for long term success both on and off the pitch. Milne said: “ The consequent strengthening of the balance sheet has put us in a better position to deliver the much sought-after dedicated training facilities and also a new AFC stadium. “In terms of the proposed relocation to a new stadium, Loirston Loch remains our preferred option. “We have been encouraged by the progress being made with Aberdeen City Council and their development partner at Loirston. “While discussions are ongoing, we are still optimistic that we can reach a satisfactory arrangement among the parties to allow the development to progress.” Plans for a £7m training facility at Balgownie in conjunction with University of Aberdeen were scrapped this summer. However Milne revealed the Reds are now looking at other options. Milne said: “We did receive a setback earlier in the year when we were forced to shelve plans for new training facilities at Balgownie. “Unfortunately, despite much dialogue and debate, the University and the Club could not ultimately reach an agreement on the utilisation of the proposed facilities and we have had to turn our attentions elsewhere. “I would add that negotiations between the two parties were entirely amicable and we continue to work with the University of Aberdeen on a number of other initiatives.” During a period where the Dons finished league runners up for the first time since 1994 wages increased from £6.084 million to £6.644 million for the year ending June 30, 2015. That rise is a direct result of higher performance bonuses paid to the playing and management staff alongside investment in the quality of the playing squad. Aberdeen FC’s wages to turnover ratio dropped from 55% to 51%. The overall turnover increased by £1.919 million from £11.158 million to £13.077 million during a campaign where the Reds reached the third qualifying round of the Europa League. That smashed the club’s previous record turnover of £12.869 million achieved in the 2007-8 season when Jimmy Calderwood led the Dons to the knockout stages of the UEFA Cup. Milne said: “Everyone involved with the Club is looking forward with confidence and enthusiasm and with a commitment to deliver further success on and off the pitch.” Amazed that we actually did better financially than when we went to the last 32 though. Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 21, 2015 Share Posted November 21, 2015 Amazed that we actually did better financially than when we went to the last 32 though. We didn't. We made four times as much profit that year. It was a record turnover, not a record profit. Volume = vanity. Profit = sanity. Quote Link to comment Share on other sites More sharing options...
tlg1903 Posted November 21, 2015 Share Posted November 21, 2015 We didn't. We made four times as much profit that year. It was a record turnover, not a record profit. Volume = vanity. Profit = sanity. Source for that? Regardless though it does show that getting bums on seats is more effective at raising turnover than tv money is manc. Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 21, 2015 Share Posted November 21, 2015 Source for that? The only source there is, the Annual Statement, the accounts in other words, a matter of public record. We made £2.2m or £2.3m if memory serves. Quote Link to comment Share on other sites More sharing options...
ayrshire_don74 Posted November 22, 2015 Share Posted November 22, 2015 I will have a look at both sets of accounts, Rocket is probably right , the Euro run we get a lot of TV money which has no associated increase in variable costs... whereas increased crowds does so profit margin a lot less Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 22, 2015 Share Posted November 22, 2015 There's no probably about it. Only a fucking idiot would state something wrong that is a matter of public record. It is fact that we made more than four times as much in 2008. Not that any of us are complaining. We didn't lose money like we always have for all but two of the last 20+ years. Or it could be three but pretty sure it's only 2008 and 2015. Thank goodness for the Donald's and their investment. Quote Link to comment Share on other sites More sharing options...
ayrshire_don74 Posted November 22, 2015 Share Posted November 22, 2015 An emotional investment they wont make it back , interestingly our chairman didnt bother , but i believe is baws deep with hbos to the tune of 1/4 of a billion Quote Link to comment Share on other sites More sharing options...
ayrshire_don74 Posted November 22, 2015 Share Posted November 22, 2015 Dont have details on new financials, but broadcast income + prize money in the season Rocket refers to was nearly £4m Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 22, 2015 Share Posted November 22, 2015 Income from this, income from that. Whatever. We're talking profit. It was over £2m in 2008 and 1/2m this year (to end June). Quote Link to comment Share on other sites More sharing options...
ayrshire_don74 Posted November 22, 2015 Share Posted November 22, 2015 Agree but a lot of that broadcast income is hugely profitable + prize money Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 22, 2015 Share Posted November 22, 2015 Whether income is gate receipts, corporate, prize money, TV, merchandise etc. etc., it only swells turnover. The only thing that matters is spending less than we earn. Something Milne has been spectacularly bad at for 90% of the years that he's been in charge. For reasons one might wish to speculate on. Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 22, 2015 Share Posted November 22, 2015 The biggest failing of the financial mismanagement of AFC plc under Milne is transfers. We haven't been developing young talent that big clubs want to spend big money on. Unsurprisingly for a number of reasons, all relatable back to his business agenda. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted November 22, 2015 Share Posted November 22, 2015 We haven't been developing young talent that big clubs want to spend big money on. This is a big thing... read the other day that DM is keen on developing more of a relationship with Liverpool so we can take more loan players in. Would we not be better developing our own young talent rather than another team's? Was really disappointed to read that. Quote Link to comment Share on other sites More sharing options...
ayrshire_don74 Posted November 22, 2015 Share Posted November 22, 2015 Guess we have to trade off decent players v utter dross like mclauglin Quote Link to comment Share on other sites More sharing options...
Jute Posted November 28, 2015 Share Posted November 28, 2015 This is a big thing... read the other day that DM is keen on developing more of a relationship with Liverpool so we can take more loan players in. Would we not be better developing our own young talent rather than another team's? Was really disappointed to read that. Would seem a very short sighted thing to do. Surely the only way we can progress as a club is developing our own young players. It definitely seems like McInnes has no faith in young players as he has given very little if any game time to our U20s despite them winning the league last year. Quote Link to comment Share on other sites More sharing options...
rocket_scientist Posted November 28, 2015 Share Posted November 28, 2015 It takes ability to identify potential and it takes personality to develop young talent. These are essential attributes for a competent manager. A good manager can build success from working with youth, bringing them all the way through. This is what made Ferguson an exceptional manager. This is just one of many reasons that made Calderwood a disaster of a manager. I would be surprised if McInnes' legacy ever reaches competence. Quote Link to comment Share on other sites More sharing options...
️ Come on you Reds! ️
️ Come on you Reds! ️
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