Quote ="Steve Ella's Beard"As Rogue's tries to point out though, you can't take abbreviated accounts as a true reflection of a clubs financial performance. My company made record profits last year, and then promptly had to shed close to 20% of it's workforce.'"
Indeed, but abbreviated accounts do have a balance sheet and in FC's case over the past 5 years we have made successive inroads into the level of debt we have, such that we're almost in a place where we have positive net assets. Our CEO does a fortnightly radio show and has had the Finance Director on a couple of times to talk about how we insulate the club's finances from on-field performances (just as well seeing that we've been put out of the cup in the first round the last 2 years and not made the play-offs since 2007), salary cap, sponsorship etc, so we do have relatively good insight into how the club balances its books (due in no small part to having average gates of 13,500 and an excellent retail function). This is by necessity as we don't have a Moran or a Caddick, but nonetheless it's a stated aim of the club to be a self-sufficient business independent of benefactors who will come and go, and IMO they've done a pretty good job in this respect. A bit of success on the pitch wouldn't go amiss, mind.
