johnnydun Posted January 10 Share Posted January 10 48 minutes ago, Granny Danger said: The club has managed to make a loss of £2.4m in the 2022-23 season. Yip, no kidding. https://www.dundeeunitedfc.co.uk/news/8206/ANNUAL-REPORT-AND-FINANCIAL-STATEMENTS-FY23.html I hope Ogren doesn’t walk away anytime soon as I cannot imagine anyone else would be crazy enough to fund this financial shit show. Total wage costs increased in the season by 18% yet we were relegated. It defies logic. Full details to aid in the tears of despair (or joy). https://www.dundeeunitedfc.co.uk/uploads/tinymce/DUFC Signed Accounts 2023.pdf ETA - I love this bit of wishful thinking - “Finally, the board are confident that despite the difficulties of 2022/23, we remain on course to achieve the long-term aim of being a sustainable and leading competitor within the Scottish Professional Football League. Nice to see you back GD. With such excellent news too. 3 Quote Link to comment Share on other sites More sharing options...
ArabFC Posted January 10 Share Posted January 10 An expensive hobby for Ogren. Not sure why he continues to throw his cash away tbh. 1 Quote Link to comment Share on other sites More sharing options...
RandomGuy. Posted January 10 Share Posted January 10 At least youve learned your lesson and arent building an unnecessarily expensive squad that youre tied to for years and will probably have to pay off eventually, though. 3 Quote Link to comment Share on other sites More sharing options...
hk blues Posted January 10 Share Posted January 10 6 hours ago, adamntg said: The club owes the money to him though doesn’t it, not to a bank or HMRC, or a face painter? He could call it in I suppose but I don’t see how it could be raised, so he could only get whatever a fire sale would raise and his asset would be gone. Can’t see it. If he wants rid he’ll need to take a haircut, and someone to shoulder what’s left. There comes a point where folk decide it's time to cut their losses. 1 Quote Link to comment Share on other sites More sharing options...
Derry Alli Posted January 10 Share Posted January 10 9 hours ago, Sarto Mutiny said: We'll offer them 6p in the pound to go away. Sorted 9 hours ago, Sarto Mutiny said: You're right. Only tinpot clubs would do that 7 hours ago, Granny Danger said: I hope Ogren doesn’t walk away anytime soon as I cannot imagine anyone else would be crazy enough to fund this financial shit show. 3 Quote Link to comment Share on other sites More sharing options...
Big Shedboy Posted January 10 Share Posted January 10 (edited) Holy f**k. The bottom feeders are back Edited January 10 by Big Shedboy 0 Quote Link to comment Share on other sites More sharing options...
Fifespud Posted January 10 Share Posted January 10 8 hours ago, Granny Danger said: The club has managed to make a loss of £2.4m in the 2022-23 season. Yip, no kidding. https://www.dundeeunitedfc.co.uk/news/8206/ANNUAL-REPORT-AND-FINANCIAL-STATEMENTS-FY23.html I hope Ogren doesn’t walk away anytime soon as I cannot imagine anyone else would be crazy enough to fund this financial shit show. Total wage costs increased in the season by 18% yet we were relegated. It defies logic. Full details to aid in the tears of despair (or joy). https://www.dundeeunitedfc.co.uk/uploads/tinymce/DUFC Signed Accounts 2023.pdf ETA - I love this bit of wishful thinking - “Finally, the board are confident that despite the difficulties of 2022/23, we remain on course to achieve the long-term aim of being a sustainable and leading competitor within the Scottish Professional Football League. Including an unexpected, and un-budgeted for, windfall of £2.6M from Souttar? Theres got to be massive losses coming this season too. There’s no way you’ve cut £5M off the wage bill, turnover down and player pay offs. Magic news. 4 Quote Link to comment Share on other sites More sharing options...
Molotov Posted January 10 Share Posted January 10 Bought the majority shareholding only 4 years ago. For such a successful business career how do these people manage to lose so much money when it comes to “soccer”? The Covid season losses were understandable as most clubs at our lever suffered badly but this just seems a bit of a car crash. Guys like Tony Watt and Declan Gallagher will be on significant wages - arguably earning more than most top flight diddy clubs. I believe St Mirren are due a fee for Declan if United get promoted. Rivalry aside - I’d hate to see United supporters suffer due to financial difficulties caused by the running of the club. 0 Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 10 Share Posted January 10 1 hour ago, hk blues said: There comes a point where folk decide it's time to cut their losses. Yes, but how was my question? Cutting his losses would mean writing off the debt as John Boyle did at Motherwell, cos getting a buyer to take it on looks difficult. it is possible he just stops funding the club, a bit like Stephen Thompson did when he wanted out. That wouldn’t be good. There’s not much in the way of family silver left to sell though. 0 Quote Link to comment Share on other sites More sharing options...
Molotov Posted January 10 Share Posted January 10 Is there any governance at the SPFL to stop another club getting into financial difficulties? We have a long list of clubs in Scotland going into administration or liquidation but we never seem to stop these owners from continuing to create these situations that affects so many people attached to the clubs involved - players, staff, creditors, the supporters and the wider community. Do the current rules around points deductions or transfer embargoes only come into place once an administration occurs? It just seems to me that’s often too late. 0 Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 10 Share Posted January 10 6 hours ago, RandomGuy. said: At least youve learned your lesson and arent building an unnecessarily expensive squad that youre tied to for years and will probably have to pay off eventually, though. Correct. Most of the squad are out of contract in the summer. Only Watt, Middleton, Gallagher, Grimshaw and Docherty and Fotheringham are contracted to end of next season. And they should probably extend Fotheringham if they can. They just extended Sibbald which I don’t think anyone is unhappy with. 2 Quote Link to comment Share on other sites More sharing options...
hk blues Posted January 10 Share Posted January 10 17 minutes ago, adamntg said: Yes, but how was my question? Cutting his losses would mean writing off the debt as John Boyle did at Motherwell, cos getting a buyer to take it on looks difficult. it is possible he just stops funding the club, a bit like Stephen Thompson did when he wanted out. That wouldn’t be good. There’s not much in the way of family silver left to sell though. There will always be another fool to come along with a dream of making a success of a Scottish football club. Of course, the ideal scenario is a dreamer who sees the football club as a means to an end. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted January 10 Share Posted January 10 1 minute ago, hk blues said: There will always be another fool to come along with a dream of making a success of a Scottish football club. Of course, the ideal scenario is a dreamer who sees the football club as a means to an end. Or football supporters in Dundee could stop being such utterly craven lackies for Big Spending Owners with Ambishun and take responsibility for operating a sustainable football club into their own hands. 4 Quote Link to comment Share on other sites More sharing options...
hk blues Posted January 10 Share Posted January 10 3 minutes ago, virginton said: Or football supporters in Dundee could stop being such utterly craven lackies for Big Spending Owners with Ambishun and take responsibility for operating a sustainable football club into their own hands. Where's the fun in that? 0 Quote Link to comment Share on other sites More sharing options...
WhatDayIsIt Posted January 10 Share Posted January 10 8 hours ago, ArabFC said: An expensive hobby for Ogren. Not sure why he continues to throw his cash away tbh. To be fair, last season was probably the least of his own money that he put in - £800k. Most of the losses were covered by cash we had in the bank last year. No idea how we went from a small profit (albeit a 1.9m operating loss) in 21/22 to a £5m operating loss last year. Especially when the talk was of being able to be in a breakeven position. 0 Quote Link to comment Share on other sites More sharing options...
hk blues Posted January 10 Share Posted January 10 43 minutes ago, WhatDayIsIt said: To be fair, last season was probably the least of his own money that he put in - £800k. Most of the losses were covered by cash we had in the bank last year. No idea how we went from a small profit (albeit a 1.9m operating loss) in 21/22 to a £5m operating loss last year. Especially when the talk was of being able to be in a breakeven position. Less transfer income? 0 Quote Link to comment Share on other sites More sharing options...
Ric Posted January 10 Share Posted January 10 I guess most have had a quick shufty at Grieve's signing and maybe caught some of his goals on YT. Decent signing, Goodwin obviously knows him well. It's one of those situations, and United have been there too, where when playing in the Premiership you have a player that looks like they are about to have a breakthrough and it doesn't quite work out, either through the teams you are up against, injuries, possible international callups and up against several other players for their position. You sort of hope the drop down the league, will open up opportunities for him to make a regular appearance, add to his (already decent, considering his limited appearance) goals and with luck come back as a player that will be able to go straight back into your first team. Whether that happens, who knows, but in Grieve you are going to get a player very much in the Goodwin mould. He likes fairly physical lone strikers who have a bit of pace. He's not a wonder goal striker, although he definitely has a decent shot, far more a penalty box poacher ready to jump on any loose ball. He won't be shrugged off the ball, but he's perhaps not as physical as his stature suggests. He's also got a (good) habit of scoring late goals, but then a lot of his appearances have been as late subs. 0 Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 10 Share Posted January 10 (edited) 11 minutes ago, hk blues said: Less transfer income? It’s not that. Transfer income went up from £1.2m to £2.6m according to the report. I don’t like relying on these windfalls to prop up the books, cos one day all you’re left with is Mark Birighitti and Charlie Mulgrew, no buyers and a huge hole in your income; however it’s the way United have been run for 50 years. McLean always sold big once a year or so. Then again he had players people wanted to buy. Wages went up by £1m, and they spent £400k in transfer fees. Looks like that, and the severance pay for Ross, Fox and their entourages probably put a hole in the boat. Edited January 10 by adamntg 1 Quote Link to comment Share on other sites More sharing options...
btb Posted January 10 Share Posted January 10 18 hours ago, elvis said: He will do well in the championship. Alex Grieve - I have no idea if he'll do well in the Championship, he certainly wasn't good enough for the Top Flight but I always hated these patronising posts when the positions were reversed and we were taking your excess baggage. As I said previously he has a good attitude (110% type player) and I wish him all the best until he ends up playing against us next season. 0 Quote Link to comment Share on other sites More sharing options...
adamntg Posted January 10 Share Posted January 10 Interesting that none of these St Mirren fans seem able to spell Greive’s name correctly. Obviously made a big impression! 1 Quote Link to comment Share on other sites More sharing options...
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