Skyline Drifter Posted February 1, 2012 Share Posted February 1, 2012 I don't know enough about our finances to give a definite answer to that, but it was clear to everyone that this year was going to be a struggle, despite massive cuts in expenditure. My big worry was holding on to the academy. With our cup runs, and the interest shown in a few of the academy graduates, the outlook seems a lot brighter than it did in the summer. I'm sure it was, but that related to debt you were carrying, not ongoing profits and losses. If Falkirk were still talking in terms of "maybe" making a profit this year after windfall cup income of over £300k in the season then you'd have to question what on earth is generating those degree of costs given a small first team squad with a majority of them under 25. With the player sales yesterday Falkirk have now in effect generated well over half a million pounds of windfall income this season. Probably nearer three quarters of a million, though it will depend exactly what the fees and terms of the transfers are. They should be making profits of several hundred thousand pounds on that or I fear for their future. You can't count on making anywhere near that in windfalls any other year and it's hard to see where significant further cost savings could be made from the outside. I suspect all this talk of "breakeven" comes from people who either don't understand that paying off historic debt doesn't count against "profits" in a year or do understand it but wish to muddy the waters and make it clear there's no money for additional investment in the team. 0 Quote Link to comment Share on other sites More sharing options...
NavyBlueArmy1876 Posted February 1, 2012 Share Posted February 1, 2012 I certainly wouldn't call it a "Profit". However, the money wasn't in the budget so the extra cash is nice, I'd call it a bonus rather than profit. This is money that as soon as we got it, it went to pay off soft loans to the BoD. If we hadn't made the extra money, we'd still owe it. So whether we came into the extra cash or not, we'd still have the exact same playing bugdet. You ask where our debt has come from? You are certainly right when you say it hasn't come from this season. Our crowds are well down this season, but then so is our playing budget. This "debt" came from Hughes' last season in charge. More was run up last season with us paying SPL wages infront of an average gate of just 4,200. We had to win the league paying those kinds of salaries. We didn't. That's why we have so many teeenagers in our squad. Paying off this debt will certainly reduce our overall profit. It was the same for Dundee Utd etc with sale of the likes of Goodwillie. I don't think a single penny made it to DUFC as it was gone as soon as it came in. However, it means that next season we will be in a much stronger financial position. 0 Quote Link to comment Share on other sites More sharing options...
Skyline Drifter Posted February 1, 2012 Share Posted February 1, 2012 I certainly wouldn't call it a "Profit". However, the money wasn't in the budget so the extra cash is nice, I'd call it a bonus rather than profit. This is money that as soon as we got it, it went to pay off soft loans to the BoD. If we hadn't made the extra money, we'd still owe it. So whether we came into the extra cash or not, we'd still have the exact same playing bugdet. You ask where our debt has come from? You are certainly right when you say it hasn't come from this season. Our crowds are well down this season, but then so is our playing budget. This "debt" came from Hughes' last season in charge. More was run up last season with us paying SPL wages infront of an average gate of just 4,200. We had to win the league paying those kinds of salaries. We didn't. That's why we have so many teeenagers in our squad. Paying off this debt will certainly reduce our overall profit. It was the same for Dundee Utd etc with sale of the likes of Goodwillie. I don't think a single penny made it to DUFC as it was gone as soon as it came in. However, it means that next season we will be in a much stronger financial position. I didn't ask where your debt came from. It's irrelevant. And I'm sorry, but paying off historic debt does NOT reduce profits for this season. It absolutely reduces the amount of it available for use moving forward, no-one's said any different, but that wasn't the point. The point was suggestions coming from Falkirk officials prior to the player sales that the club "might" break even for the current season which were either nonsense or you have astounding ongoing running costs. 0 Quote Link to comment Share on other sites More sharing options...
MattBairn Posted February 1, 2012 Share Posted February 1, 2012 All the best to Higgy in his move. He has played very well this season and Im happy I was wrong about his end product. He has looked a different player this season. Its a good bit of business to get 150k (if true) for a player who would leave for free in the summer. I never expected s to win the league so its a sensible move by the club IMO. Hopefully the remainder of this season will bring on guys like Fulton, Alston, Kingsley etc. as they might be required to bring on an even younger group next season I know Pressley wont see much (if any) of the money and I fully understand why that is, but it would be nice to see us to use it to sign a couple of the guys on longer deals. I believe Millar and Duffie (for example) will be scouted for the remainder of the season and if we can even just tie them up on a longer deal we might be able to get a bit more money for them if clubs come sniffing around. Ideally we would hang onto them but I cant see that happening. Anyway, onwards and upwards. COYBs! 0 Quote Link to comment Share on other sites More sharing options...
Thundermonkey Posted February 1, 2012 Share Posted February 1, 2012 Skyline Drifter has the bit between his teeth over our finances. The man demands answers dammit! 0 Quote Link to comment Share on other sites More sharing options...
userone Posted February 1, 2012 Share Posted February 1, 2012 BBC Scotland just reported they believe the fee for Kallum was £300k!!! 0 Quote Link to comment Share on other sites More sharing options...
Disco Duck Posted February 1, 2012 Share Posted February 1, 2012 SD, you are the only one talking in P&L terms. When the club talks about break-even, they mean in cash flow terms after paying off soft loans - and I suspect some of the HMRC debt that we're paying by instalment. 0 Quote Link to comment Share on other sites More sharing options...
Skyline Drifter Posted February 1, 2012 Share Posted February 1, 2012 Skyline Drifter has the bit between his teeth over our finances. The man demands answers dammit! I'm not demanding anything. I'm just pointing out the folly in swallowing hook, line and sinker a statement which is blatantly nonsense. SD, you are the only one talking in P&L terms. When the club talks about break-even, they mean in cash flow terms after paying off soft loans - and I suspect some of the HMRC debt that we're paying by instalment. I'm sure you're correct but I think iit's misleading and you can't "breakeven" on a cashflow. It's being repeated as gospel by people who don't actually understand what it means. 0 Quote Link to comment Share on other sites More sharing options...
The Hero of the Day Posted February 1, 2012 Share Posted February 1, 2012 A year ago... Forgive me Kallum, come back! I think I was the only falkirk fan on this forum defending Higgy last season, knew all along the importance of having him in the team. 0 Quote Link to comment Share on other sites More sharing options...
Marshmallo Posted February 1, 2012 Share Posted February 1, 2012 I think I was the only falkirk fan on this forum defending Higgy last season, knew all along the importance of having him in the team. Going to have to get up earlier in the morning to get a bite out of me son. 0 Quote Link to comment Share on other sites More sharing options...
Andy Dufresne Posted February 1, 2012 Share Posted February 1, 2012 BBC Scotland just reported they believe the fee for Kallum was £300k!!! That would be an amazing price if true. 0 Quote Link to comment Share on other sites More sharing options...
MrDust Posted February 1, 2012 Share Posted February 1, 2012 BBC Scotland just reported they believe the fee for Kallum was £300k!!! If thats the case I imagine it would have add ons...... Thats our new thing....something that has escaped us over the years, tho promotion, sell on and international recognition are usually the three add on targets 0 Quote Link to comment Share on other sites More sharing options...
Northfield 53 Posted February 1, 2012 Share Posted February 1, 2012 Good signing in Willie Gibson we were close on resigning him at Queens but got a better offer at Falkirk. 0 Quote Link to comment Share on other sites More sharing options...
Thundermonkey Posted February 1, 2012 Share Posted February 1, 2012 There will be no add-ons with Higgy. Add-ons and clauses are discussed when the selling club hold all the cards, as we did with Arfield and Wallace. We were in no position to bargain effectively over a player Huddersfield could have picked up for nowt in the summer. This will be a straight forward, cash only transaction (nowhere near £300K either). 0 Quote Link to comment Share on other sites More sharing options...
gav-ffc Posted February 1, 2012 Share Posted February 1, 2012 Is Gibson signed? 0 Quote Link to comment Share on other sites More sharing options...
Craig Cruickshanks01 Posted February 1, 2012 Share Posted February 1, 2012 Is Gibson signed? According the falkirk herald website we are interested in him and contact has be made but nothing confirmed yet. More in the herald tomorrow. Will higgy leaving have a negetive effect on Farid.? They two were working superb together up top. 0 Quote Link to comment Share on other sites More sharing options...
Gaz FFC Posted February 1, 2012 Share Posted February 1, 2012 Dunfermline fans are saying Gibson can put in a ball. With a frontman as good as Farid and Duffie and Gibson supplying amo I'm not too worried. We have also seen what Sibbs can do on the left so its not all bad. 0 Quote Link to comment Share on other sites More sharing options...
MattBairn Posted February 1, 2012 Share Posted February 1, 2012 Farid will be fine as long as someone can give him a supply. Sibbs is more than capable of doing it in spells and Duffie can if he keeps his form up. We were never going to win the league anyway so selling Higgy is money for nothing. Board did well. 0 Quote Link to comment Share on other sites More sharing options...
MrDust Posted February 1, 2012 Share Posted February 1, 2012 There will be no add-ons with Higgy. Add-ons and clauses are discussed when the selling club hold all the cards, as we did with Arfield and Wallace. We were in no position to bargain effectively over a player Huddersfield could have picked up for nowt in the summer. This will be a straight forward, cash only transaction (nowhere near £300K either). With Arfield and Flynn we didnt hold all the cards, we needed them out and both still have add ons in the current position Overall tho my own opinion is that we got anything between 100k to 150k for him 0 Quote Link to comment Share on other sites More sharing options...
Gaz FFC Posted February 1, 2012 Share Posted February 1, 2012 (edited) We have the possibility of cheques arriving soon for Flynn, Arfield, Stewart and 1 day Wallace. All this on top of the Elton money we are due this summer and various cup money from this excellent season. Our accounts for April 2011-2012 and 2012-13 should look a lot healthier than the previous 3 years. Edited February 1, 2012 by Gaz FFC 0 Quote Link to comment Share on other sites More sharing options...
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