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Ben Hayes - Charlton Athletic programme

Football Finance

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Good financial results at Norwich

Norwich City have reported a good set of financial results for the year ended June 2014 when, of course, they were still in the Premier League.   Operating profits were £9.5m compared with £4.6m for a comparable period in the preceding year.  

Bulls battle on

Hereford United secured another adjournment of a winding up order at the High Court earlier this week.  It was postponed for six weeks until December 1st with the club promising £1.5m in investment.

Herefordshire Council tried to take possession of Edgar Street on Thursday evening, but were thwarted by the assistant manager who was there.   The next day they started proceedings for possession in the county court.   However, the club paid £50,000 in rent and legal fees on Friday afternoon.

Ashley makes ground at Rangers

Newcastle United owner Mike Ashley is tightening his grip on Rangers.  Financial consultant Philip Nash, one of the two directors he has been trying to remove, has resigned from the board with immediate effect.

This suggests that rescue plans from indviduals other than Mr Ashley are unlikely to succeed.  The offer of £16m for the club from former director Dave King looks set to fail because of opposition from Sandy Easdale who controls 26 per cent of the voting shares.

Billionaire to take over at Palace?

Crystal Palace may be on the verge of becoming the sixth Premiership club to be either American owned or to have an American majority shareholder.   American billionaire Josh Harris is being linked with an acquistion of the club.

Harris, who owns the NBA team Philadelphia 76ers, was linked with a possible takeover at Aston Villa earlier in the year.

Forest in breach of FFP rules

Nottingham Forest look likely to be hit with sanctions under the Football League's Financial Fair Play rules.  They may have exceeded their maximum permitted losses of £8m for the 2013-14 season.

Accounts for the period have yet to be published, but they reported a £14m loss in 2012-13.  Billy Davies, their former manager, spent £7m on players last term.

Rangers bid talks

Dave King, who in conjunction with two other businessmen, is seeking to make a £16m bid for Rangers has been in talks with influential shareholder Sandy Easdale.   King needs the support of 75 per cent of shareholders and Easdale controls 26 per cent of the voting shares.    King is said to be open to a deal which would avoid dilution of the stakes of existing shareholders.

How much cash does Arsenal have to spend?

At last week's annual general meeting Arsenal chief executive Ivan Gazidis insisted that it is 'quite untrue to suggest the club is sitting on a huge cash pile that it is refusing to use.'   He claims that the amount available to spend is much lower than has previously been suggested with a figure of £20m being mentioned.   That would hardly be enough to shore up the defence in the way that most commentators agree is needed.

Do Hull have financial worries?

Most clubs would be pleased with a profit of £9.4m on a turnover of £84.8m.  Indeed, by the standards of football the latest financial results from Hull City represent an exceptional performance.

Admittedly, the figures are for an eleven month period to 30 June so that if one added in July the figure would reduce to £3.3m.   That would be wiped out by the £4m of FA Cup revenue obtained by the finalists.

League of Ireland in trouble

League of Ireland clubs continue to face big financial challenges.   A number of clubs have gone bankrupt and others have only just survived.   Bray Wanderers (a club whose ground I have visited) are the latest club in trouble.

Bayern aim to be world's richest club

Bayern Munich aim to be the world's richest club and their latest financial results show that they are well on the way there.  On a turnover of £417m they recorded a prodit of £13m.   20 per cent of their revenue came from merchandise sales.

Unlike rivals Manchester United and Real Madrid, they are free of debt.