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Accounts 16-17


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Dundee FC have published its accounts for year 16-17. Loss of £354k covered by FPS. The advances will be turned into share capital. The board intend to issue additional shares to a value of £1.5m and this will make FPS the holder of 75% of the equity. FPS have also indicated they will transfer their shares to Dark Blue Properties Limited. The club have the commitment of its major shareholder that funding is available to us until we moved to new stadium and beyond.  http://dundeefc.co.uk/news/dundee-fc-financial-statements-year-ended-31-may-2017/

 

*If I remember correctly, in last year accounts 15-16, it was stated that for 16-17 accounts (above) the club would need to find £500k for rent for Dens and account changes. 

 

 

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7 minutes ago, Rivers Cuomo said:

We need to stop budgeting for Top 6. Remember this includes sales of Stewart and Hemmings? So loss could have been near a £1million. 

Yeah I agree. The rent of Dens doesn't help either and having such a large squad. Sooner we get a stadium development that can be used 24/7 the better. 

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17 minutes ago, Rivers Cuomo said:

We need to stop budgeting for Top 6. Remember this includes sales of Stewart and Hemmings? So loss could have been near a £1million. 

By 'budgeting', do you mean the salaries we are paying for a Manager and playing staff?.

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21 minutes ago, GregTeamDee said:

Yeah I agree. The rent of Dens doesn't help either and having such a large squad. Sooner we get a stadium development that can be used 24/7 the better. 

I was under the opinion the Americans had secured Dens from Bennett in a separate deal?

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9 minutes ago, Rivers Cuomo said:

We should aim to break even.

Which is exactly what they'd hope to achieve, by gaining a top six place. You think we should withdraw money from the playing budget?

8 minutes ago, Rivers Cuomo said:

I was under the opinion the Americans had secured Dens from Bennett in a separate deal?

You are under the wrong impression. 

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16 minutes ago, WeighorstsWang said:

Which is exactly what they'd hope to achieve, by gaining a top six place. You think we should withdraw money from the playing budget?

You are under the wrong impression. 

Key (no pun intended), points for me:-

"........The company expect to make additional losses in the current year and in each of the subsequent years until a new TV deal generates more money for all the clubs in the SPFL. The size of these losses will depend on field success and the level of support from fans. The club can currently bank on a core home support of around 3,500 and increase of 1,000 is a target that would put the Club essentially into a breakeven position.

The club believe they underperformed in 2016/17 season, failing to make the top 6.

The change in managers in 2017, has brought a change in the style of play. This necessarily meant the changing of playing personnel and this brings with it costs of an enlarged playing squad. It is hoped the size of the first team squad can be reduced next season. The directors believe continuity in the management of the club is the route to success.

The club have the commitment of its major shareholder that funding is available to us until we moved to new stadium and beyond and they provide a vital lifeline to ensure a viable and successful football club.........."

Edited by Dondeh
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