How Standard Chartered Can Rescue Its Disastrous Deal With Liverpool F.C.

[Tatterdemalion]

Per the 31 July 2009 Kop Football (Holdings) accounts (in £'000s, negatives in brackets):

T/o £184,782

Cost of sales (£19,050)

Admin expenses (£133,997) of which salaries are £102,874

Exceptional costs (£4,332) - these are disclosed as termination payments

Player amortisation and trading (£42,594) - the net cost of buying and selling players, and writing down the contract value of those who remain

Giving a loss of (£15,191) before interest.

Interest is a depressing (£40,096)

In 2008 the loss before interest was (£5,702) on t/o of £164,222.

Hope that helps.

Whatever else you think, you've got to admit the rate of turnover growth is quite impressive - it must be knocking on 15% per year through a recession.

Sadly the rates of growth in debt interest and wages have also grown strongly. The wages is an interesting one. I'd like to see the rate of growth in that and a comparison with Arsenal and Man U, both in growth rate terms and levels.

I would expect our wage costs have grown much faster than theirs but are still behind Man U (probably ahead of Arsenal). I imagine wage costs are now going south pretty quick!