Finance Update
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- Posts: 5723
- Joined: Wed Sep 29, 2010 1:44 pm
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Finance Update
Surprised this has gone under the radar a bit, but the club provided an update last week on financial matters:
https://darlingtonfc.co.uk/news/post-ye ... -statement
-Net profit made for 20/21, slightly higher than £14,045 last year.
-Net cash has improved on from 19/20.
-The £64,800 loan from the DCMS is a low interest (fixed-rate) loan over 20 years.
-826 season tickets purchased (including 500 Club members) up to 15th July.
-Club have managed to pay-off fans loans within the year (these amounted to £37,337 in the 19/20 accounts).
-Loss expected for 21/22.
All in all, really positive. Club have managed to navigate during a really difficult period (cup runs helped) and reduce debt/increase cash in the bank.
https://darlingtonfc.co.uk/news/post-ye ... -statement
-Net profit made for 20/21, slightly higher than £14,045 last year.
-Net cash has improved on from 19/20.
-The £64,800 loan from the DCMS is a low interest (fixed-rate) loan over 20 years.
-826 season tickets purchased (including 500 Club members) up to 15th July.
-Club have managed to pay-off fans loans within the year (these amounted to £37,337 in the 19/20 accounts).
-Loss expected for 21/22.
All in all, really positive. Club have managed to navigate during a really difficult period (cup runs helped) and reduce debt/increase cash in the bank.
Re: Finance Update
Well done, everyone. Could give Rishi Sunak some lessons
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I for one think Rishi is doing an excellent job. Can you imagine if we still had Cameron and Osborne in charge with their austerity will cure everything belief. Even worse if it was Corbyn and McDonald !
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Rishi might be doing a good job, but he won't make a profit this year
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Ha Ha that will never happenjjljks wrote: ↑Wed Jul 21, 2021 11:02 amRishi might be doing a good job, but he won't make a profit this year
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That depends if you are looking at the public or private purse...jjljks wrote: ↑Wed Jul 21, 2021 11:02 amRishi might be doing a good job, but he won't make a profit this year
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Re: Finance Update
Doubt it.banktopp wrote: ↑Wed Jul 21, 2021 1:59 pmI could do his job, printing money and giving it away.
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I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!banktopp wrote: ↑Wed Jul 21, 2021 1:59 pmI could do his job, printing money and giving it away.
Re: Finance Update
Who did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!banktopp wrote: ↑Wed Jul 21, 2021 1:59 pmI could do his job, printing money and giving it away.
Sunak is not doing a good job. He is fiscally illiterate.
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Re: Finance Update
You assert that Sinai is not doing a good job after showing you don’t have the faintest knowledge of economics. Hm not a very convincing argument.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!banktopp wrote: ↑Wed Jul 21, 2021 1:59 pmI could do his job, printing money and giving it away.
Sunak is not doing a good job. He is fiscally illiterate.
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Re: Finance Update
Try this which although written nearly 2 years ago still holds true. My friend is a Professor of Economics and has confirmed this......end of discussion for now.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!banktopp wrote: ↑Wed Jul 21, 2021 1:59 pmI could do his job, printing money and giving it away.
Sunak is not doing a good job. He is fiscally illiterate.
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https://www.bbc.co.uk/news/business-50504151
Re: Finance Update
That article refers to the government borrowing money from financial institutions. The government did not borrow any money, ok just 20 billion to pay for COVID. They created new money. Only the government can do this.bga wrote:Try this which although written nearly 2 years ago still holds true. My friend is a Professor of Economics and has confirmed this......end of discussion for now.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!
Sunak is not doing a good job. He is fiscally illiterate.
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https://www.bbc.co.uk/news/business-50504151
https://www.taxresearch.org.uk/Blog/wp- ... r-free.pdf
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Re: Finance Update
My friend is a Professor of Economics. And my dad is bigger than yours. End of discussion because you are a tit.bga wrote: ↑Wed Jul 21, 2021 7:41 pmTry this which although written nearly 2 years ago still holds true. My friend is a Professor of Economics and has confirmed this......end of discussion for now.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!
Sunak is not doing a good job. He is fiscally illiterate.
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https://www.bbc.co.uk/news/business-50504151
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- Posts: 5723
- Joined: Wed Sep 29, 2010 1:44 pm
- Team Supported: Darlington
Re: Finance Update
Another thread derailed - fantastic.
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Agreed, all I wanted to do was to congratulate our management team in guiding us successfully through a financial minefield of a season & end it with a quip. Instead I stirred up a bigger sh!tstorm than Dominic Cummings - sorry
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Back on thread the Club management have done a great job thanks. I am reassured about the future. You would have to be a TIT to have posted on here with your Political views and not once referred to this.Old Git wrote: ↑Wed Jul 21, 2021 9:22 pmMy friend is a Professor of Economics. And my dad is bigger than yours. End of discussion because you are a tit.bga wrote: ↑Wed Jul 21, 2021 7:41 pmTry this which although written nearly 2 years ago still holds true. My friend is a Professor of Economics and has confirmed this......end of discussion for now.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote:I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!
Sunak is not doing a good job. He is fiscally illiterate.
Sent from my iPhone using Tapatalk
https://www.bbc.co.uk/news/business-50504151
Re: Finance Update
Just like you did 12 hours ago you mean And I’m not going to resort to childish name calling either.bga wrote:Back on thread the Club management have done a great job thanks. I am reassured about the future. You would have to be a TIT to have posted on here with your Political views and not once referred to this.Old Git wrote: ↑Wed Jul 21, 2021 9:22 pmMy friend is a Professor of Economics. And my dad is bigger than yours. End of discussion because you are a tit.bga wrote: ↑Wed Jul 21, 2021 7:41 pmTry this which although written nearly 2 years ago still holds true. My friend is a Professor of Economics and has confirmed this......end of discussion for now.Quaker85 wrote: ↑Wed Jul 21, 2021 7:00 pmWho did they borrow it from The Bank of England. In other words themselves so how would they go about paying this back? Genuinely interested to know the answer.bga wrote: I think you comment is "Old school economics." The Gov have borrowed more than any other Gov haven't they? Don't think they can just print money anymore. Money they borrowed has to be paid back by future generations!
Sunak is not doing a good job. He is fiscally illiterate.
Sent from my iPhone using Tapatalk
https://www.bbc.co.uk/news/business-50504151
Sent from my iPhone using Tapatalk
Re: Finance Update
bga you were the one who said my friend is a Professor of Economics like that somehow elevated you to the top of the class. For every Economist that says the Government are following the wrong strategy there will be others who say they are correct. A lot will likely depend on the political leanings of your friend the Prof but to take the word of one person without looking at the bigger picture is not wise.
For the record I am very grateful to Andrew Stockdale for the way he has managed the club’s financial affairs through these difficult times.
For the record I am very grateful to Andrew Stockdale for the way he has managed the club’s financial affairs through these difficult times.
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I've corrected that for youOld Git wrote: ↑Thu Jul 22, 2021 7:48 ambga you were the one who said my friend is a Professor of Economics like that somehow elevated you to the top of the class. For every Economist that says the Government are following the wrong strategy there will be others who say they are correct. A lot will likely depend on the political leanings of your friend the Prof but to take the word of one person without looking at the bigger picture is not wise.
For the record I am very grateful to Chris Stockdale for the way he has managed the club’s financial affairs through these difficult times.
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Thanks sorry terrible with names
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To be honest I was not trying to "elevate myself". I was merely trying to correct the earlier post that suggested the Gov simply printed their own money which is not 100% accurate as I think any Economist would agree. Of course these experts will disagree on how much to borrow or how much money to print. Glad we agree about the good work the Board are doing. We move on.Old Git wrote: ↑Thu Jul 22, 2021 7:48 ambga you were the one who said my friend is a Professor of Economics like that somehow elevated you to the top of the class. For every Economist that says the Government are following the wrong strategy there will be others who say they are correct. A lot will likely depend on the political leanings of your friend the Prof but to take the word of one person without looking at the bigger picture is not wise.
For the record I am very grateful to Andrew Stockdale for the way he has managed the club’s financial affairs through these difficult times.
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We do move on. To be honest just can’t wait to see some live football and have that to focus on.
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Hoping to get to Stream the game on Saturday. I guess it is not yet possible to have both a Virtual 50/50 draw and one for the fans who actually attend unless you actually have two draws? I will ask the Club.