2025 financial accounts

[Floyd]

@chris

I don’t believe that can mean the net of incoming and outgoing transfer fees because the numbers don’t add up.

Right.

[PhlebasthePhoenician]

@Floyd

In that case we can switch Van Sas, Allen and Fink for Magnus, Anders and Norris (etc). Where does our player income come from in this period?

Based on the quoted figure and the player departures in the accounting period, it can only be the compensation fee received from Huddersfield Town for Joe Low (as he was under 24).

[Glenactico]

@williwycombe

There may be a thread started for this but speaking of spending on infrastructure, there’s a story doing the rounds of planning application for this…is it one of them hoaxes?!

The Chairnabeu

[DevC]

@PhlebasthePhoenician

Based on the quoted figure and the player departures in the accounting period, it can only be the compensation fee received from Huddersfield Town for Joe Low (as he was under 24).

You think Joe Low was “sold” for £2.5m?
Anyway his transfer completed in the 25/26 year - 1 July.

[OxfordBlue]

@williwycombe

There may be a thread started for this but speaking of spending on infrastructure, there’s a story doing the rounds of planning application for this…is it one of them hoaxes?!

It’s AI, which has a strange habit of generating football pitches without goal frames. Definitely a wind up

[Twizz]

@DevC

…tely. The penalty if that is not complied with is a 15pt deduction - not good but not end of world.The previous owner can make it almost impossible for the administration process to run successfully but really he has no incentive to do so.Again it cannot be said often enough. It is not historic debt that kills football clubs, it is lack of cash to pay future costs committed to by the previous owner.

Sorry @DevC HMRC is not a preferred creditor as far as a football club is concerned wrt the definition of a football creditor as used by the EFL, so they don’t get paid in full.

They are a secondary preferred creditor for VAT and PAYE, so get paid a percentage.

This is why we now see HMRC filing petitions against clubs for non-payment - they need to get in before a club is declared bankrupt in order to secure their payments.

Paid in Full: A Critical Look at the Law and Economics of the Football Creditors Rule | Entertainment and Sports Law Journal.

[DevC]

@Twizz

… preferred creditor as far as a football club is concerned wrt the definition of a football creditor as used by the EFL, so they don’t get paid in full.They are a secondary preferred creditor for VAT and PAYE, so get paid a percentage.This is why we now see HMRC filing petitions against clubs for non-payment - they need to get in before a club is declared bankrupt in order to secure their payments..

Not sure you read accurately what I wrote @Twizz . It happens. I said as a preferential creditor would need to be paid in full before unsecured creditors get anything. That is true. It is possible of course that there may not be enough cash to pay even them.

[Twizz]

@DevC

Not sure you read accurately what I wrote . It happens. I said as a preferential creditor would need to be paid in full before unsecured creditors get anything. That is true. It is possible of course that there may not be enough cash to pay even them.

I don’t think that is the case - only football creditors need to be paid in full as per the EFL rules.

HMRC don’t need to be paid in full - they may be but in no means is it necessary for any new owner.

That said “football creditors” is going to be an alarming sum of money if (when?) it all goes tits up.

[eric_plant]

@Glenactico

The Chairnabeu

Exceptional work sir

[DevC]

@Twizz

I don’t think that is the case - only football creditors need to be paid in full as per the EFL rules.

HMRC don’t need to be paid in full - they may be but in no means is it necessary for any new owner.

That said “football creditors” is going to be an alarming sum of money if (when?) it all goes tits up.

Football creditors need to be paid in full if the club is to survive.
Any remaining money pays the preferential creditors including HMRC
Other creditors only get cash if preferential creditors are paid in full.

[OxfordBlue]

Email from the Trust this morning:

We fully understand the level of genuine concern amongst the club’s fanbase following the recent publication of the June 2025 audited accounts.

The Supporters Trust Board is collating questions from fans which will be put to the Ownership Group and fed back to members. Please email any questions you may have to wwst@wwst.org.uk by 19 March.

---

Independent Football Regulator

A new licensing system for the 116 clubs in the EPL, EFL and NL will require them to hold “sufficient resources” to steer them away from any potential “cliff edge”. Level of risk will be assessed on a club-by-club basis by Independent Football Regulator. In order to compete, clubs in the top five divisions will require a provisional licence from 2026/27 season. From 2027/28 season, they will require a full licence from the IFR.

Clubs need to show liquidity to meet their financial commitments and cope with “stress” such as relegation or withdrawal of owner funding. Club liquidity will be monitored on an ongoing basis by the IFR which can also impose measures such as “reducing expenditure or restructuring debt”. (Players not counted as liquid assets as “clubs cannot readily realise their value outside transfer windows”). Clubs must also show evidence of “having meaningfully consulted" with fans.

“It cannot be right that so many clubs exist on a cliff edge where one change could threaten their entire existence – fans should be debating formations not finances,” says IFR CEO Richard Monks. “Our licensing regime will ensure that club risk is managed appropriately, creating a more stable environment for growth and investment.”

Four “key risk factors” that IFR expects clubs to “monitor and mitigate” are…

*Business Model – funding gaps between income and costs.

*Liquidity & Cash flow – the ability to meet short-term financial obligations.

*Solvency and Debt – risks to operating in the medium to long term.

*Governance – adequacy of financial decision-making and risk management.

Thanks
Jon, Ben, Dan, Nigel, Alan, Trevor and Tony
Your WWST Board

[AlanCecil]

@OxfordBlue

…actors” that IFR expects clubs to “monitor and mitigate” are…*Business Model – funding gaps between income and costs.*Liquidity & Cash flow – the ability to meet short-term financial obligations.*Solvency and Debt – risks to operating in the medium to long term.*Governance – adequacy of financial decision-making and risk management.ThanksJon, Ben, Dan, Nigel, Alan, Trevor and TonyYour WWST Board

Last day today to get your questions on the accounts in by email to wwst@wwst.org.uk
That will give us time to raise them with the FD and ownership group in the hope of having answers by the WWST monthly members meeting on 26th March

[PhlebasthePhoenician]

@Floyd

What happened at Bury? That’s the situation i’m imagining.

Today’s update: Steve Dale appears in court after being charged with fraud

Former Bury FC owner appears in court charged with fraud

[OxfordBlue]

@PhlebasthePhoenician

Anyone know if there’s a chance he gets a prison sentence?