Fulham Football Leisure Ltd
First in a series of articles on Fulham’s Finances by b+w geezer:
Over the summer, I intend to regale you with bits and pieces from the latest accounts of Fulham Football Leisure Limited. Not too much at a time, but bite-size chunks.
For a very gentle starter, here is part of the Directors’ report.
“The Groups’s main commercial risk is that associated with potential failure to retain membership of the FA Premier League…..In the event of relegation from the FAPL, the Group’s revenues would fall in the next two years to a level which would not finance ongoing contractual commitments, and the Group would therefore have to place more reliance on funds provided by the parent company [a.k.a. the Chairman] and take action to significantly reduce operating costs. Such action could prevent the maintenance of a playing squad capable of gaining promotion back to the FAPL. Therefore the Group’s main aim is to prevent this risk becoming a reality.” [my italics]
So the directors are keen for us not to be relegated and are aware this a key issue. Doubtless it was necessary to read this messageboard before the penny dropped — but it has. Whether they realise the extent of the expenditure required can not be ascertained.
Next week some time, considerably more to get your teeth into, with the headline financials in context. That’ll probably take a couple of episodes. Then on to the more tricksy bits, where the genuine financial professionals (which I’m not; but some on here are) will be solicited for their help.
You have been warned!
