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Topic Originator: RMGpar
Date: Fri 28 Feb 20:33
Accounts now live on Companies House, another 900k loss for the year!
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Topic Originator: Andrew283
Date: Fri 28 Feb 20:34
I`d honestly love to know how, because it certainly wasn`t going into the player budget
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Topic Originator: Kdy Par
Date: Fri 28 Feb 20:36
The good thing is it was covered by GmbH and they didn’t saddle us with any debt. With the new owners now being in place the accounts don’t really mean much.
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Topic Originator: jake89
Date: Fri 28 Feb 20:39
Not exactly surprising.
We had a fair few people working for nothing. We`ve brought in paid positions, which I agree with, but those professionals presumably aren`t earning their keep.
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Topic Originator: Hunter78
Date: Fri 28 Feb 20:40
Quote:
RMGpar, Fri 28 Feb 20:33
Accounts now live on Companies House, another 900k loss for the year!
Doesn’t matter a jot. Owners covered the full loss with cash and no dent incurred. Well done GMBH for doing so.
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Topic Originator: Dave_1885
Date: Fri 28 Feb 20:41
So Cook as CEO has overseen £1.9m in losses in 2 years and is still in a job? Staggering!
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Topic Originator: Back_oh_the_net
Date: Fri 28 Feb 20:42
Quote:
RMGpar, Fri 28 Feb 20:33
Accounts now live on Companies House, another 900k loss for the year!
And some on here were adamant that teller and co weren’t making a total James hunt of running the club but 900K loss would say otherwise irrespective of wether DAFC fusball gmbh covered it or not they still managed to lose the club 900 grand but what did they lose it on? As there’s no profit and lose sheet yet again
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Topic Originator: Alter Ego
Date: Fri 28 Feb 20:49
Tbh it doesn’t really matter about this years accounts as the club has been taken over with investment…next years accounts will be important and we need to stay up…
Mon the Pars!
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Topic Originator: RMGpar
Date: Fri 28 Feb 20:54
Of course it matters .. we still have the same CEO overseeing the running of the club
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Topic Originator: red-star-par
Date: Fri 28 Feb 20:57
I`m not an expert on company accounts by any means so I`ll leave that to others on here, but I do have a few questions- are Teller and Lass-Hennerman still on the current board and if so, what is their involvement?
Why in the interests of transparency is there no P+L?
I see also that final sentence, that the new owners also bought all shares in Pars United CIC- does that mean they own the stadium now, or is it some other company that owns that?
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Topic Originator: Back_oh_the_net
Date: Fri 28 Feb 20:59
Quote:
Alter Ego, Fri 28 Feb 20:49
Tbh it doesn’t really matter about this years accounts as the club has been taken over with investment…next years accounts will be important and we need to stay up…
Mate that’s not the point the new owners came in with the season what 3/4 done? As has already been pointed out we have a CEO who has presided over a 1.9 million pound loss over the course of two seasons and I think the fans have a right to know where the money has gone and why this charlatan still has a job but I won’t hold my breath about any sort of transparency from the board on that front as it’s not something they seem to be to hot on
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Topic Originator: Dave_1885
Date: Fri 28 Feb 21:07
Sorry, just to add on the Cook point - we’ve made a £1.9m loss despite his much lauded commercial and sponsorship deals he has brought in that period. Also, the stadiums barely been touched. Wheres the money gone?
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Topic Originator: wee eck
Date: Fri 28 Feb 21:09
Every time accounts are published the same questions are asked despite them having been answered many times before.
A company the size of DAFC is not required to publish a profit and loss account and such companies always take advantage of this exemption.
The loss need not be down to the CEO. The owners would be aware of the trading results throughout the year and it`s quite possible they budgeted for such losses.
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Topic Originator: Hunter78
Date: Fri 28 Feb 21:24
Quote:
Back_oh_the_net, Fri 28 Feb 20:59
Quote:
Alter Ego, Fri 28 Feb 20:49
Tbh it doesn’t really matter about this years accounts as the club has been taken over with investment…next years accounts will be important and we need to stay up…
Mate that’s not the point the new owners came in with the season what 3/4 done? As has already been pointed out we have a CEO who has presided over a 1.9 million pound loss over the course of two seasons and I think the fans have a right to know where the money has gone and why this charlatan still has a job but I won’t hold my breath about any sort of transparency from the board on that front as it’s not something they seem to be to hot on
The “board” consists of voluntary positions now and has done since GMBh owned the club.
They along with David Cook set the budget and run the club day to day, same thing will happen with James Bord. What these show is the monumental mess David Cook has presided over for a few years.
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Topic Originator: wee eck
Date: Fri 28 Feb 21:28
So the owners, past and present, don`t approve the budget?
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Topic Originator: Raymie the Legend
Date: Fri 28 Feb 21:31
Quote:
wee eck, Fri 28 Feb 21:28
So the owners, past and present, don`t approve the budget?
Of course they do, wee eck, but I’m not sure they would have happily signed off for a million pound loss each year ?
It`s bloody tough being a legend
Ron Atkinson - 1983
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Topic Originator: Alter Ego
Date: Fri 28 Feb 21:31
What I’m trying to say is our new owners came onboard 2 weeks ago so we shouldn’t be looking at the mess etc the Germans made but see what the next years accounts will look like…
Mon the Pars!
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Topic Originator: Raymie the Legend
Date: Fri 28 Feb 21:39
Year Losses Equity in the club No of Employees
2022 £532K £1,131K 72
2023 £1,039K £91K 84
2024 £929K -£838K 97
These losses are significant and regular. GmBH had to endure these losses, but it must be a worry that we have lost £2.5M in three years? Keep in mind that the KDM group have invested into the club and we have received the Kevin Nisbet money during this time, but still, losses are eye-wateringly high.
Normally, when a company is losing money, it doesn`t look to take on more people. We have increased our headcount by 34% in this time. I find this incredible.
I just hope our new owners can get us back close to profitability?
It`s bloody tough being a legend
Ron Atkinson - 1983
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Topic Originator: wee eck
Date: Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
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Topic Originator: Back_oh_the_net
Date: Fri 28 Feb 21:48
Quote:
Alter Ego, Fri 28 Feb 21:31
What I’m trying to say is our new owners came onboard 2 weeks ago so we shouldn’t be looking at the mess etc the Germans made but see what the next years accounts will look like…
You don’t get how this all works do you? We need to know why and where we are losing money! Fair enough the take over makes us effectively debt free but if there is a problem with how the business away from the football side of things is being run then it needs addressed and like I said we need to be told where the money has went otherwise fans will be less inclined to part with their hard earned every season for the club just to p!$$ it against the wall if the loses continue will the new owners want to keep pumping money into an effectively bottomless hole or will they say enough is enough we want our money back one thing is for sure those for a club our size this sort of financial loss isn’t sustainable
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Topic Originator: Raymie the Legend
Date: Fri 28 Feb 21:50
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
Or possibly they decided to cut their losses?
It`s bloody tough being a legend
Ron Atkinson - 1983
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Topic Originator: Back_oh_the_net
Date: Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
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Topic Originator: Hunter78
Date: Fri 28 Feb 21:54
Quote:
Back_oh_the_net, Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
Only needs sorted if the owners aren’t funding it which they seemingly are. Makes no difference and certainly it doesn’t need sorted”
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Topic Originator: Raymie the Legend
Date: Fri 28 Feb 21:58
Quote:
Hunter78, Fri 28 Feb 21:54
Quote:
Back_oh_the_net, Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
Only needs sorted if the owners aren’t funding it which they seemingly are. Makes no difference and certainly it doesn’t need sorted”
GmBH told the patrons not to worry and they had it all in hand. 8 months later that letter came out….
It`s bloody tough being a legend
Ron Atkinson - 1983
Post Edited (Fri 28 Feb 21:59)
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Topic Originator: thebear
Date: Fri 28 Feb 22:00
People say it does not matter as we have been taken over, well it does matter, it suggests ncompetence for the year and the trajectory is bad, what will it be like in 12 months.
I`d still like to understand incomng and outgoing streams and levels. We have massive incoming from adverts, we`re not bad at fan`s, good sponsors, in. Detail where does that go
Is it salaries, repairs and maintenance, training facilities etc
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Topic Originator: Hunter78
Date: Fri 28 Feb 22:16
Quote:
Raymie the Legend, Fri 28 Feb 21:58
Quote:
Hunter78, Fri 28 Feb 21:54
Quote:
Back_oh_the_net, Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
Only needs sorted if the owners aren’t funding it which they seemingly are. Makes no difference and certainly it doesn’t need sorted”
GmBH told the patrons not to worry and they had it all in hand. 8 months later that letter came out….
They did have it in hand though. Sold shares and walked away with the club debt free and handed the reigns over….they choose to sell the club which was their right
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Topic Originator: rikaka
Date: Fri 28 Feb 22:17
Unless you have access to all the budgeting, and forecasts then everyone is just speculating and attributing blame to suit their agenda imo
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Topic Originator: Raymie the Legend
Date: Fri 28 Feb 22:30
Quote:
Hunter78, Fri 28 Feb 22:16
Quote:
Raymie the Legend, Fri 28 Feb 21:58
Quote:
Hunter78, Fri 28 Feb 21:54
Quote:
Back_oh_the_net, Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
Only needs sorted if the owners aren’t funding it which they seemingly are. Makes no difference and certainly it doesn’t need sorted”
GmBH told the patrons not to worry and they had it all in hand. 8 months later that letter came out….
They did have it in hand though. Sold shares and walked away with the club debt free and handed the reigns over….they choose to sell the club which was their right
You are missing the point. What if we have another million pound loss and they decide that’s not for them and want to get out ?
It`s bloody tough being a legend
Ron Atkinson - 1983
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Topic Originator: fcda
Date: Fri 28 Feb 22:45
Quote:
rikaka, Fri 28 Feb 22:17
Unless you have access to all the budgeting, and forecasts then everyone is just speculating and attributing blame to suit their agenda imo
This. GmbH appeared to be content with how things were. They left because the fans weren`t happy with the investment strategy in relation to the first team.
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Topic Originator: saltonsgonagetu
Date: Sat 1 Mar 00:10
The club is losing money hand over fist , where is it going ?, on what ? We cannot continue sticking the heads in the sand .
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Topic Originator: Hunter78
Date: Sat 1 Mar 06:09
Quote:
Raymie the Legend, Fri 28 Feb 22:30
Quote:
Hunter78, Fri 28 Feb 22:16
Quote:
Raymie the Legend, Fri 28 Feb 21:58
Quote:
Hunter78, Fri 28 Feb 21:54
Quote:
Back_oh_the_net, Fri 28 Feb 21:51
Quote:
wee eck, Fri 28 Feb 21:41
I agree with that Alter Ego. Presumably they were happy with the `return` they got on their investment.
So we will just kid on that despite the near 2 million quid loss over two seasons that everything is all rosey and we haven’t been spunking money up against a wall? new owners or not the club is losing money at an unacceptable rate and it needs sorted
Only needs sorted if the owners aren’t funding it which they seemingly are. Makes no difference and certainly it doesn’t need sorted”
GmBH told the patrons not to worry and they had it all in hand. 8 months later that letter came out….
They did have it in hand though. Sold shares and walked away with the club debt free and handed the reigns over….they choose to sell the club which was their right
You are missing the point. What if we have another million pound loss and they decide that’s not for them and want to get out ?
So as long as the clubs not saddled with bank loans or debt then whoever subsequently picks the club up can reduce costs to suit a break even budget, might be some hard choices on staff numbers etc but that’s business.
The bigger concern for me is the stadium and making sure that’s not used for loans, don’t know the position on that still and whether he plans to buy it
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Topic Originator: cammypar 1995
Date: Sat 1 Mar 07:13
Surely David cook and Alister Burns should have some pretty difficult questions to answer. Alistair is responsible for overseeing all commercial activities including sales, marketing, pricing strategies etc basically trying to mitigate losses. His main focus is driving revenue growth and maximizing profit. As we can see it`s not worked. we have posted just shy of another staggering loss and these 2 surely to be held responsible. 1 clearly hasn`t done enough to and the other is not far off £3 million pound losses over his tenure.
c'mon the pars
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Topic Originator: fcda
Date: Sat 1 Mar 08:50
Quote:
cammypar 1995, Sat 1 Mar 07:13
Surely David cook and Alister Burns should have some pretty difficult questions to answer.
It all depends on the remit given by their bosses - the owners.
If the owners expected the losses due to planned expenditure, trying to enhance the club off the field, then it would be unfair to criticise DC and AB for that. It`s also unfair if the owners` plan was a bad one.
Truth is, few, if any on here will know these details.
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Topic Originator: Dave_1885
Date: Sat 1 Mar 09:01
Quote:
fcda, Sat 1 Mar 08:50
Quote:
cammypar 1995, Sat 1 Mar 07:13
Surely David cook and Alister Burns should have some pretty difficult questions to answer.
It all depends on the remit given by their bosses - the owners.
If the owners expected the losses due to planned expenditure, trying to enhance the club off the field, then it would be unfair to criticise DC and AB for that. It`s also unfair if the owners` plan was a bad one.
Truth is, few, if any on here will know these details.
You cant blame the owners for losing £1.9m in 2 years……the owners cover the losses, they don’t create them. They’ve taken a huge hit with their investment and rightly sold up before it got worse.
The CEO has overseen commercial success (so he claims) but we were £1.9m plus worse off during his tenure - wheres the money gone?
It certainly hasn’t gone on stadium upkeep, booming crowd initiatives or the playing squad……..
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Topic Originator: Hunter78
Date: Sat 1 Mar 09:03
Quote:
cammypar 1995, Sat 1 Mar 07:13
Surely David cook and Alister Burns should have some pretty difficult questions to answer. Alistair is responsible for overseeing all commercial activities including sales, marketing, pricing strategies etc basically trying to mitigate losses. His main focus is driving revenue growth and maximizing profit. As we can see it`s not worked. we have posted just shy of another staggering loss and these 2 surely to be held responsible. 1 clearly hasn`t done enough to and the other is not far off £3 million pound losses over his tenure.
Alister seems to be doing a particularly poor job. Most notably with hospitality and the corporate boxes, nearly all of which remain unsold for the year (I think KdM only now have a box). That’s poor that he’s not managed to utilise them.
Hospitality is now poorly attended and has become stale.
The club really since David has took control has lost a lot of local support and the communication is now non existent.
Drew Main is on the board only as a supporters representative but even he know doesn’t seem to be taking anybody to task. Perhaps the PST should vote on a new rep?
We may not be entitled to know where the losses are coming from but we creatively should be allowed to question it.
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Topic Originator: cammypar 1995
Date: Sat 1 Mar 09:15
Quote:
Hunter78, Sat 1 Mar 09:03
Quote:
cammypar 1995, Sat 1 Mar 07:13
Surely David cook and Alister Burns should have some pretty difficult questions to answer. Alistair is responsible for overseeing all commercial activities including sales, marketing, pricing strategies etc basically trying to mitigate losses. His main focus is driving revenue growth and maximizing profit. As we can see it`s not worked. we have posted just shy of another staggering loss and these 2 surely to be held responsible. 1 clearly hasn`t done enough to and the other is not far off £3 million pound losses over his tenure.
Alister seems to be doing a particularly poor job. Most notably with hospitality and the corporate boxes, nearly all of which remain unsold for the year (I think KdM only now have a box). That’s poor that he’s not managed to utilise them.
Hospitality is now poorly attended and has become stale.
The club really since David has took control has lost a lot of local support and the communication is now non existent.
Drew Main is on the board only as a supporters representative but even he know doesn’t seem to be taking anybody to task. Perhaps the PST should vote on a new rep?
We may not be entitled to know where the losses are coming from but we creatively should be allowed to question it.
The club shop is poor as well surely someone who is paid to maximise the clubs marketing and sales potential we should have a lot more to choose from than what is currently in there.
c'mon the pars
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Topic Originator: SeasonedPar
Date: Sat 1 Mar 09:41
I’m not sure if folk here have selective memories, or just want to follow an agenda. For what it’s worth, here’s my view on the last 2 years accounts. Most of it’s been discussed here and elsewhere over that time. Apologies for the long post.
1. The accounts are to April 2024, not this season.
2 two years ago, we sacked 2 managers, and the accounts might reflect their pay offs.
3. Two years ago, we kept the relegated team on their Championship wages. That gamble worked as we were promoted at the first time of asking - even given some football was poor
4. Last season, a horrendous injury list. As has been mentioned on here, the club doesn’t carry injury insurance as it’s so expensive. While concussions like Fisher and Breen would be treated at NHS, other injuries like knees, shoulders, groins might have been diagnosed and treated privately with the club picking up the bill.
5. Horrendous injuries also meant recruiting a number of loans, and again that was reasonably successful as we climbed the league and avoided relegation.
6. Those same loans would cost the club - I’ve no idea of details, but possibly some of the wages, as well as accommodation, travel expenses etc.
7. GmbH started to invest in the trading and Academy, at a time when building costs and labour were going through the roof. Grants to help costs possibly don’t offset the entire build costs.
8. You can see the redeveloped player tunnel while the home dressing room had a much needed refurb.
9. Many of those staff aren’t full time, but work part time every second Saturday in hospitality, probably on minimum wage.
10. Cup runs aren’t budgeted for. However, there’s no doubt a good run or decent draws helps - ticket sales, hospitality, sponsors, even tv.
11. Look around - the new sponsorships all around the stadium show a good level of hard work and success from those in charge.
All in all, expense upon expense, not always budgeted for, some credit to GmbH for investing, although their decision to go with younger players at the start of this season was hellish, just wrong - as was going in the huff when they decided they’d had enough.
That’s my personal take on the last 2 accounting seasons. I might not be spot on with everything but I think I might be in the right neck of the woods.
The new owner might be happy to sustain losses again this season, but maybe David Cook with persuading him to buy players and get in loan players over the last month, James Bord might absorb losses as he develops his sports analysis software, using players from our club to add to the metadata from the States and Spain to build a bigger database. We might just be a small cog in a bigger wheel.
I’d hoped, in my lifetime, to see the Pars established in the Premier, not a yo-yo club, competing for cup finals, semis, places in Europe a top six finishes. I’d settle right now for a team that maybe doesn’t win every game, but shows some fight, entertains, makes chances and scores goals. That feels far away at the moment, but Pars fans support through thick and thin. It makes successes all the sweeter!
COYP!!
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Topic Originator: RMGpar
Date: Sat 1 Mar 09:48
Year on year losses , football on the pitch getting worse…. Very concerning.
More and more paid positions within the club that arguably are doing worse than when they were volunteered.
The clubs needs to start again with a proper model.
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Topic Originator: GG Riva
Date: Sat 1 Mar 09:53
Great, insightful post, Seasoned Par. Thanks for enlightening us.
Not your average Sunday League player.
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Topic Originator: fcda
Date: Sat 1 Mar 13:21
Quote:
Dave_1885, Sat 1 Mar 09:01
You cant blame the owners for losing £1.9m in 2 years…
You absolutely can - when it`s their flawed strategic vision he`s trying to implement. But the main point is, few on here know the details to credibly apportion blame.
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Topic Originator: Bertie Paton
Date: Sat 1 Mar 13:25
One of the worst run clubs in Scotland. Cook should be out on his backside.
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Topic Originator: desparado
Date: Sat 1 Mar 13:51
Was the unexpected floodlight upgrade in that set of accounts ?
A new pitch looks like it is needed too which will cost a few Bob…
What an opportunity we missed in 2014.
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Topic Originator: red-star-par
Date: Sat 1 Mar 14:19
I see Kieran Maguire has had a look at the club accounts on twitter, doesn`t really add much though, and pretty sure the losses he talks about hark back to the Administration event in 2012.
"Dunfermline lost £913k in 23/24 taking total losses to almost £10.5m. The club’s new owners paid off a £1m loan to the old owners when they bought the club."
I think the previous owners did pay about £600,000 for the floodlights upgrade, and not sure of the exact figures of the Training Ground as there were some grants involved but I`m sure it will have been a slightly larger sum.
I think there has been some commercial deals lately, Macklin Motors stand, Carabao drinks partnerships etc, so hopefully the Commercial Manager is earning his crust.
I would like to know more about the ownership of the stadium now though, is it owned by James Bord? And why are Teller and Lass-Hennerman still on the board?
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Topic Originator: SeasonedPar
Date: Sat 1 Mar 14:25
Quote:
desparado, Sat 1 Mar 13:51
Was the unexpected floodlight upgrade in that set of accounts ?
A new pitch looks like it is needed too which will cost a few Bob…
Yes. I missed out a pretty substantial spend! It’d go down as a capital spend, P and L would show depreciation, at maybe 10-15%. Still a big spend by the board.
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Topic Originator: jake89
Date: Sat 1 Mar 15:24
The floodlights would have been the 2023 finances rather than 2024.
EEP is separately owned and leased to the club. Presumably all money made from naming, advertising etc comes to the club. Commercial activity appears good but it seems to be the rise in other costs that are an issue. More staff, higher wages, medical bills etc.
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Topic Originator: OorWullie
Date: Mon 3 Mar 16:19
https://www.dunfermlinepress.com/sport/24976755.dunfermline-pars-reveal-six-figure-loss-annual-accounts/[\url]
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Topic Originator: kparsfan
Date: Mon 3 Mar 19:16
I see on the back page of the Courier that it says Dunfermline Free Of Debt After Takeover.
Haven`t read the story. If any one has a link or a copy of it, can they put it up please?
 Proud To Be A Par!!
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Topic Originator: red-star-par
Date: Mon 3 Mar 19:33
Quote:
kparsfan, Mon 3 Mar 19:16
I see on the back page of the Courier that it says Dunfermline Free Of Debt After Takeover.
Haven`t read the story. If any one has a link or a copy of it, can they put it up please?
From The Courier-
Dunfermline are planning for a new future ‘debt-free’, despite posting losses of almost £1 million in their latest set of accounts.
The figures show a loss of £929,250 for the 12 months up to May 31 last year
The period covers last season, when the Pars finished sixth in the Championship, and come on the back of a loss of £1,039,907 in the previous year.
However, since then, ownership of the club has changed hands, with German consortium DAFC Fussball being bought out by the James Bord-led Park Bench SFC LLC.As part of that transaction, Park Bench paid off the ‘convertible loan note’ held by DAFC Fussball worth £1 million.
It is understood Park Bench also settled directors’ short-term loans and other liabilities when they assumed control of the Fife club in January.
Despite the balance sheet showing significant losses in recent times, the club are now hopeful of an ‘exciting’ future under new owners.
Chairman and chief executive David Cook commented: “Whilst we are reporting on the club’s performance in the year ending 31 May, 2024, it is important to note the significant changes which have occurred at the club since year end.
“Park Bench SFC LLC has become the majority shareholder of the club, purchasing all shares held by DAFC Fussball GmbH along with [those of fans’ group] Pars United CIC.
‘Fan frustration’
“The 2023/24 season and the beginning of the 2024/25 have been challenging for supporters as we all seek more consistent and sustained on-field success.
“The board acknowledge and understand the frustration many fans have expressed during this period.
“We are all committed in our attempts to give fans more to cheer about going forward.
“With changes at ownership and first-team coaching level, the board believes that we are at the beginning of a new journey – a journey which is exciting and fulfilling for supporters.”
Dunfermline have blamed their latest financial losses on poor cup performances last season, lower match-day revenue due to ‘the drop off in sporting performance’, injuries that resulted in a trebled medical outlay and the resulting need for loan players, and higher bills for utilities, insurance and food and beverage.
With manager James McPake having since been replaced by new head coach Michael Tidser, the Pars are hopeful of ‘strong results for the club on the pitch’ as they move forward.
Another challenging season on the pitch will make the current year’s figures an interesting read when they become public in around 12 months’ time.
Notes attached to the latest accounts said: “The directors acknowledge that the company’s liquidity position relies on the directors continuing to review the club’s budget and ensure that costs are controlled and, should it be necessary, further support from Park Bench SFC LLC.”
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Topic Originator: OorWullie
Date: Mon 3 Mar 20:10
Can’t keep racking up losses year after year. All we get is excuses. No real detail. For example, the medical expenses were 3 times what we budgeted. So was the budget 20k, but we spent 60k or was it 100k and we spent 300k ?
Post Edited (Mon 03 Mar 20:11)
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Topic Originator: OorWullie
Date: Mon 3 Mar 20:16
What did we do to try to mitigate the falling attendances?
Poor cup performances. When did we last have a good cup run? Surely budget for first round and anything after is a bonus?
Loan players. How much more than budget did we spend?
How much were our utility bills compared to the season before? I’m sure utility bills came down?
Last year we wee told it would be better. Well it isn’t.
All wind and pihs and bluster - again
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Topic Originator: AdamAntsParsStripe
Date: Mon 3 Mar 20:56
Quote:
OorWullie, Mon 3 Mar 20:16
What did we do to try to mitigate the falling attendances?
Poor cup performances. When did we last have a good cup run? Surely budget for first round and anything after is a bonus?
Loan players. How much more than budget did we spend?
How much were our utility bills compared to the season before? I’m sure utility bills came down?
Last year we wee told it would be better. Well it isn’t.
All wind and pihs and bluster - again
I think the attendances are remarkably high given this is our longest period in our history outside of the top division.
Clearly the aim long term is to develop players to sell on for a big profit which would mitigate these losses year on year out.
That’s not going to happen anytime soon obviously.
Zwei Pints Bier und ein Päckchen Chips bitte
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Topic Originator: jake89
Date: Mon 3 Mar 23:20
Quote:
OorWullie, Mon 3 Mar 20:10
Can’t keep racking up losses year after year. All we get is excuses. No real detail. For example, the medical expenses were 3 times what we budgeted. So was the budget 20k, but we spent 60k or was it 100k and we spent 300k ?
The historic losses are irrelevant now but agree. We have aspirational new owners but they won`t stick around if they don`t see any return on investment. I imagine they`re seeing the club as opportunity to showcase their software but there will be limits to how much of a loss they`ll take. I`d seriously question how much the payroll has grown in a few years. Are these new roles earning their keep?
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Topic Originator: coventrypar
Date: Tue 4 Mar 00:09
There is no obligation of a small company the size of DAFC to share anything other than the minimum. We made a loss- it was covered by our previous owners.
The new owners come in with a clean slate ( acknowledged by park bench when they took over). They are spending an additional £x a month on on loans/signings over a 3 month period to keep us in the Championship.
All good in the `hood I think.
We are now in a small time ... buy up potential stars and sell the 1 in 8 that make the grade...at the same time they get to showcase their software. Everyone wins.
If they don`t have a club our new owners can`t show how their software works.
And if it doesn`t succeed they are stuffed so there`s a lot of cash coming in to prove their model. They also seem willing to back the managers judgement as well as gift him players eg Raymond.
Happy days at KDM East End Park Bench
"If you have no kind words to say you should say nothing more at all"
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Topic Originator: thebear
Date: Wed 5 Mar 09:39
This is where my accountancy knowledge fails.
Does this years loss take into account last years loss, both roughly a million, therefore this year we just held neutral
Regardless of this a good fresh start.
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Topic Originator: wee eck
Date: Wed 5 Mar 09:47
No. each year`s result is a separate loss.
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