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Accounts published

Last year saw losses of £7m added to a £3.2m loss the year before. Revenues dropping from  £126.83 to £68.18 million.

Last season in PL saw a profit of £13m. Kind of shows where the money has gone, as we continued to pay PL wages and transfers from our days in the top division.

https://www.swanseacity.com/news/swansea-city-confirm-latest-accounts

Comments

  • The last season in the PL was the loss of £3.2m The £13m profit was the year before. These accounts are for our first year in the Championship. 

    Would've looked a lot worse without the DJ money squeaking in at the buzzer.
  • A very crucial point is that these accounts don't include the sale of McBurnie, so that money will count towards the 19/20 accounts. That's good news, because let's not forget that Ayew came back and we had to fund 6 months of Baston as well. 

    I have to say a £7m loss for our second year in the Championship, while not good, is probably better than a lot of us might have expected. 
    Wyn
  • yep. my thoughts exactly when I read that - both on the Oli money and the loss, which to me is even better knowing the Oli money is to offset BB and AA's wages.
  • I think we'll need another big sale this summer - Rodon has been mentioned but we'll see - to try and fill the gap that the next drop in parachute money will create. 
    Wyn
  • Probably need to sell Rodon if we can and then somehow jettison Ayew, his wages are crippling us.
    Its still nip and tuck at the top if we could somehow find consistency then who knows where we will be plying our trade next season?
  • All the talk of possible cuts to the academy though, surely anyone with an ounce of common sense should see that it does pay for itself?! It pays for more than it's estimated £3mill a season.
    Dan James' transfer fee alone should tell us that, let alone what we should/will get for Rodon....Ben Davies is another example, all academy products.
    It is our goldmine, cutting the funding there is like buying cheap timber stays to support the mine roof
    Wyn
  • BigG said:
    All the talk of possible cuts to the academy though, surely anyone with an ounce of common sense should see that it does pay for itself?! It pays for more than it's estimated £3mill a season.
    Dan James' transfer fee alone should tell us that, let alone what we should/will get for Rodon....Ben Davies is another example, all academy products.
    It is our goldmine, cutting the funding there is like buying cheap timber stays to support the mine roof
    Will we produce a Dan James every 4 years now that we can't afford to buy 16 year olds for ~£100k (plus clauses) any more? Is £3m a year for an academy justifiable when the football club can only afford to spend £500k a season on first team players (who are then loaned away 6 months later)? McBurnie cost £250k+ when he was 19 but we need an u9s-u15s academy structure to provide a goldmine? Not even Cabango was with us through those age groups, he joined as a scholar.

    Ben Davies was a CoE product, not the academy. We weren't spending £3m a year on his education that's for sure. Rodon and Connor became professionals here before we had Cat 1 status. There are Cat 2 academies in this division just as if not more productive than us in recent seasons (Bristol City, Leeds). "Common sense" misses a lot of significant details. 

    We made our first two big sales and now everyone thinks that's how it'll always work from now on. Will be a rude awakening for many after Joe's gone. The next generation doesn't compare to the class that's already come through, unfortunately.
  • Cat 1 is safe at the moment, it may be downgrades in season 2021/22, we need to cut our cloth. TB is telling us this now, it maybe propped up for further seasons but that will be looked at then.
  • jasper_T said:
    BigG said:
    All the talk of possible cuts to the academy though, surely anyone with an ounce of common sense should see that it does pay for itself?! It pays for more than it's estimated £3mill a season.
    Dan James' transfer fee alone should tell us that, let alone what we should/will get for Rodon....Ben Davies is another example, all academy products.
    It is our goldmine, cutting the funding there is like buying cheap timber stays to support the mine roof
    Will we produce a Dan James every 4 years now that we can't afford to buy 16 year olds for ~£100k (plus clauses) any more? Is £3m a year for an academy justifiable when the football club can only afford to spend £500k a season on first team players (who are then loaned away 6 months later)? McBurnie cost £250k+ when he was 19 but we need an u9s-u15s academy structure to provide a goldmine? Not even Cabango was with us through those age groups, he joined as a scholar.

    Ben Davies was a CoE product, not the academy. We weren't spending £3m a year on his education that's for sure. Rodon and Connor became professionals here before we had Cat 1 status. There are Cat 2 academies in this division just as if not more productive than us in recent seasons (Bristol City, Leeds). "Common sense" misses a lot of significant details. 

    We made our first two big sales and now everyone thinks that's how it'll always work from now on. Will be a rude awakening for many after Joe's gone. The next generation doesn't compare to the class that's already come through, unfortunately.
    Cabango made his Swans debut in the U18's on the 9th April 2016 in a Play Off match v Stoke City, and was a scholar from the 2016 summer. He joined the Swans from Newport County during the 2014/15 season.

    Article, dated 15th April 2015
    https://www.pitchero.com/clubs/maindycorries/news/maindy-boy-selected-for-welsh-squad-1413540.html?external_domain=www.pitchero.com/clubs/maindycorries

    The huge significant difference the likes of Dan, Rodon, Roberts etc., had on current youngsters in the academy is that they had plenty of time to develop through the 18's and 23's before making their mark in the first team. Last season and this season 15, 16 year olds are playing at a standard way above where their predecessors did in years gone by only because the flooding of player recruitment from outside has ceased and vacancies in the 18's and 23's teamsheet had to be filled..
  • Not just the flooding of player recruitment, many of the very good 20/21 year olds are now with the first team, others are out on loan, I'm not sure either way if its good to test for players to play above their age groups, ie the 16s in the 18s, the 18s in the 23s, yes we might lose a few games but it'll get them match hardened for future progress.
  • jasper_T said:
    BigG said:
    All the talk of possible cuts to the academy though, surely anyone with an ounce of common sense should see that it does pay for itself?! It pays for more than it's estimated £3mill a season.
    Dan James' transfer fee alone should tell us that, let alone what we should/will get for Rodon....Ben Davies is another example, all academy products.
    It is our goldmine, cutting the funding there is like buying cheap timber stays to support the mine roof
    Will we produce a Dan James every 4 years now that we can't afford to buy 16 year olds for ~£100k (plus clauses) any more? Is £3m a year for an academy justifiable when the football club can only afford to spend £500k a season on first team players (who are then loaned away 6 months later)? McBurnie cost £250k+ when he was 19 but we need an u9s-u15s academy structure to provide a goldmine? Not even Cabango was with us through those age groups, he joined as a scholar.

    Ben Davies was a CoE product, not the academy. We weren't spending £3m a year on his education that's for sure. Rodon and Connor became professionals here before we had Cat 1 status. There are Cat 2 academies in this division just as if not more productive than us in recent seasons (Bristol City, Leeds). "Common sense" misses a lot of significant details. 

    We made our first two big sales and now everyone thinks that's how it'll always work from now on. Will be a rude awakening for many after Joe's gone. The next generation doesn't compare to the class that's already come through, unfortunately.
    Better to develop our own players & get something back if they leave than develop players for other teams by loaning players from the likes of Chelsea...

  • The huge significant difference the likes of Dan, Rodon, Roberts etc., had on current youngsters in the academy is that they had plenty of time to develop through the 18's and 23's before making their mark in the first team. Last season and this season 15, 16 year olds are playing at a standard way above where their predecessors did in years gone by only because the flooding of player recruitment from outside has ceased and vacancies in the 18's and 23's teamsheet had to be filled..
    The Championship is a double edged sword in that respect. We can't afford to keep as many promising youngsters on professional deals until they're 20/21 (24 in Zabret's case...) while we're here, but it's a lot easier to give them opportunities at 18/19 due to the lower standard, lower cost for failure, and hectic schedule.

    DJ, Connor, Oli and Joe would likely have all played for the first team in (perhaps early) 2017 had we been a Championship club at the time. 
  • BigG said:
    jasper_T said:
    BigG said:
    All the talk of possible cuts to the academy though, surely anyone with an ounce of common sense should see that it does pay for itself?! It pays for more than it's estimated £3mill a season.
    Dan James' transfer fee alone should tell us that, let alone what we should/will get for Rodon....Ben Davies is another example, all academy products.
    It is our goldmine, cutting the funding there is like buying cheap timber stays to support the mine roof
    Will we produce a Dan James every 4 years now that we can't afford to buy 16 year olds for ~£100k (plus clauses) any more? Is £3m a year for an academy justifiable when the football club can only afford to spend £500k a season on first team players (who are then loaned away 6 months later)? McBurnie cost £250k+ when he was 19 but we need an u9s-u15s academy structure to provide a goldmine? Not even Cabango was with us through those age groups, he joined as a scholar.

    Ben Davies was a CoE product, not the academy. We weren't spending £3m a year on his education that's for sure. Rodon and Connor became professionals here before we had Cat 1 status. There are Cat 2 academies in this division just as if not more productive than us in recent seasons (Bristol City, Leeds). "Common sense" misses a lot of significant details. 

    We made our first two big sales and now everyone thinks that's how it'll always work from now on. Will be a rude awakening for many after Joe's gone. The next generation doesn't compare to the class that's already come through, unfortunately.
    Better to develop our own players & get something back if they leave than develop players for other teams by loaning players from the likes of Chelsea...
    It's a false dichotomy, though. We would still produce players if we downgraded the academy to Cat 3. Joe Allen and Ben Davies came through the pre-EPPP system. Connor and Joe came most of the way through before we were Cat 1. We can't afford to recruit Olis and DJs now. Bendas won't come to us. But we would still be able to recruit scholars released from other academies as we did with half a dozen or so last summer.

    Without having to recoup £3m a year to pay the bills we might even be under less pressure to sell the good ones right away when they do emerge.

    I'm glad we're keeping it for at least one more year, but not because it's a golden goose. Hopefully it proves to be one but there's no guarantees, and the financial burden could be hard to shoulder while we wait for it to lay (ugh). It'll be interesting to see how much we paid for financing and servicing of short term cashflow borrowings last season (season before was close to a million quid iirc).

  • Jasper,
    the exit trials concerning youngsters who have been told they would not be getting apprenticeships / scholarships have not been a successful outlet for the Swans as far as recruitment for their U18's team is concerned, going back to the mid / late-00's when Dion Chambers and Charlier Kesler arrived from Derby and Watford respectively and Adam Hugill was signed from Scunthorpe. It can be a useful part of the recruitment programme but whether it depends on a far bigger budget or better talent spotters is open to debate.

    Balance that part of youth recruitment with a home based scouting system has been quite productive since before the PL era and would be financially viable outside Cat 1 status.

  • Jasper,
    the exit trials concerning youngsters who have been told they would not be getting apprenticeships / scholarships have not been a successful outlet for the Swans as far as recruitment for their U18's team is concerned, going back to the mid / late-00's when Dion Chambers and Charlier Kesler arrived from Derby and Watford respectively and Adam Hugill was signed from Scunthorpe. It can be a useful part of the recruitment programme but whether it depends on a far bigger budget or better talent spotters is open to debate.

    Balance that part of youth recruitment with a home based scouting system has been quite productive since before the PL era and would be financially viable outside Cat 1 status.
    It hasn't been successful, no. Good academies don't often let promising players go, so it's a lottery, and you need to buy a lot of tickets to stand a chance. Best recent addition in that manner I can think of was Liam Shephard, who Cardiff let go at 15. Now playing regularly with Forest Green, when he's fit, after one senior appearance for us.

    But it is nonetheless the main type of recruitment we're doing now. We're not that I'm aware of bringing in 12/13 year olds from around the UK as Cat 1 clubs are entitled to do. And we're not spending the six figure fees on players like Oli, Cian and the gang of Scots. 

    We could have brought in Webb, Butler, Williams, Kenko, Moti and Makokowe as Cat 3 or 4 (u17- Professional development setup). Perhaps they would have wanted to go elsewhere instead, but this type of recruitment is entirely within the expectations of academies of those levels.
  • So, immediate thoughts on the high level accounts statement.

    1 That decrease in wages of nearly 50% is absolutely crucial to our long-term sustainability. Well done to Birch et al for achieving that. Without it we would have been in danger of breaching FFP.
    2 Broadcast revenue and parachute payment combined are £6m stronger than I was expecting.
    3 Matchday income is c£100k weaker than I was forecasting.
    4 Good to get confirmation that the directors have not taken a dividend (again).
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