Brent - No Regrets

No Regrets

What does this mean? Is this more tom foolery?

James Brent wrote:

He said: “I think the losses before we took over were £8 million off a revenue of £10m.

“We have now got a revenue of less than £4m because we have fallen down to League Two and next season we should achieve a cash break-even.

Is cash break even different from most people's definition of breaking even. Is that the same as me having the same in my current account at the end of the month as I did the previous month but I haven't included the £2k I've put on my credit card?

It can mean a lot of different things. How I understand it (this might not be the James Brent understanding), your usual, expected cash in matches your expected cash out.
Simple example would be - season ticket revenue is equal to wages and running costs.

Dick Trickle wrote:

No Regrets

What does this mean? Is this more tom foolery?

James Brent wrote:

He said: “I think the losses before we took over were £8 million off a revenue of £10m.

“We have now got a revenue of less than £4m because we have fallen down to League Two and next season we should achieve a cash break-even.

Is cash break even different from most people's definition of breaking even. Is that the same as me having the same in my current account at the end of the month as I did the previous month but I haven't included the £2k I've put on my credit card?

I'd say that sort of analogy wouldn't be too far from the truth.

A cash break even is an accounting loss

Quote :

We are forecasting a cash break-even next season, but still making an accounting loss.

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Dick Trickle wrote:

No Regrets

What does this mean? Is this more tom foolery?

James Brent wrote:

He said: “I think the losses before we took over were £8 million off a revenue of £10m.

“We have now got a revenue of less than £4m because we have fallen down to League Two and next season we should achieve a cash break-even.

Is cash break even different from most people's definition of breaking even. Is that the same as me having the same in my current account at the end of the month as I did the previous month but I haven't included the £2k I've put on my credit card?

Should - could, maybe, perhaps.....etc. Obviously I believe every word!!  

A little light reading for you,

Breakeven Point
The breakeven point is the sales volume at which a business earns exactly no money. The breakeven point is useful for the following reasons:

Determine the amount of remaining capacity after the breakeven point is reached, which tells you the maximum amount of profit that can be generated.
Determine the impact on profit if automation (a fixed cost) replaces labor (a variable cost)
Determine the change in profits if product prices are altered
Determine the amount of losses that could be sustained if the business suffers a sales downturn


Management should constantly monitor the breakeven point, particularly in regard to the last item noted, in order to reduce the breakeven point whenever possible. Ways to do this include:

Cost analysis. Continually review all fixed costs, to see if any can be eliminated. Also review variable costs to see if they can be eliminated, since doing so increases margins and reduces the breakeven point.
Margin analysis. Pay close attention to product margins, and push sales of the highest-margin items, to reduce the breakeven point.
Outsourcing. If an activity involves a fixed cost, consider outsourcing it in order to turn it into a per-unit variable cost, which reduces the breakeven point.
Pricing. Reduce or eliminate the use of coupons or other price reductions, since it increases the breakeven point.

I did that from memory so it may be a little hazy.

I didn't read the article in full just a quick speed read before the useless herald site crashed, one thing of note though did we ACHIEVE break even last season or are we FORECASTING break even this season? The reson I ask is that I would expect ticket sales to droop slightly unless we sign Reid, even then I think a lot of people were worn out by the end of the season and would have to be coaxed back by good results and we know that takes a while to happen.

FORECASTING Iggs

I reckon that season tickets will stay around the same. The POTDers like myself will only come if the team is winning or at the very least playing attractive football or it isn't raining.

My concern for the future is that if the development doesn't go ahead and produce the profit quoted, just where is the actual cash to pay the balloon payment going to come from, if the best we can hope for is break even. Don't we need a profit to save up to pay for it?

TFOCP mins from last meeting recokon no build for two years

I'm sure that you're right on that score Dingle, I would imagine that the ballon payment will have to be financed with another loan or mortgage which is why it will be important to get the finances in the black. Also I wonder whether the Wrathall buy in had anything to do with the break even. If this is a forecast you also have to remember that we took a loss from last season, I can't see what is different about next season from last other than maybe one or two of the last expensive contracts being paid up.
Ps. I lied about copying that from memory.   

Has anyone called 999 to help remove Errington's tongue from Brent's arse? One of the more obsequious examples in a very competitive field of a local paper failing in its duty to scrutinise the "strategy" being employed by the club's owner.

I am very sorry that James feels people who fork over cash on a regular basis to support Argyle giving their opinion on club matters is a "negative". Maybe if the club's strategy wasn't so piss-poor he could bask in the glory of his success. Only it doesn't work like that, James.

Our points total in the season just gone wouldn't have got us top half in 12/13. That isn't "competing for promotion" - it's a marginal gain.

We are the UKIP of league 2.

I hear Sheridan does like a pint and a fag, Don't think he's an ex public schoolboy though!!

Gareth Nicholson wrote:

Has anyone called 999 to help remove Errington's tongue from Brent's arse? One of the more obsequious examples in a very competitive field of a local paper failing in its duty to scrutinise the "strategy" being employed by the club's owner.

I am very sorry that James feels people who fork over cash on a regular basis to support Argyle giving their opinion on club matters is a "negative". Maybe if the club's strategy wasn't so piss-poor he could bask in the glory of his success. Only it doesn't work like that, James.

Our points total in the season just gone wouldn't have got us top half in 12/13. That isn't "competing for promotion" - it's a marginal gain.

   

Jeeze - all kicking off over the other side!! Like reading the North Korean Daily - how dare anyone diss the banker!!

LOL. Newell now giving the 'Oh woe is me' line, wondering if he'll be able to face going to games next season. (Can't we have a violins emoticon, mods?)

Who does he think he's fooling? If there's any chance of him not going next season, it'll be because his AAA pass has expired due to invites to the Directors Box no longer coming his way from FES/FIL. Or a realisation from Brent that the Useful Idiot is actually no longer useful.

Brian Green cracks me up. He'd gladly walk off the edge of a cliff if Brent was two paces in front of him. Clueless.

Czarcasm wrote:

LOL. Newell now giving the 'Oh woe is me' line, wondering if he'll be able to face going to games next season. (Can't we have a violins emoticon, mods?)

Who does he think he's fooling? If there's any chance of him not going next season, it'll be because his AAA pass has expired due to invites to the Directors Box no longer coming his way from FES/FIL. Or a realisation from Brent that the Useful Idiot is actually no longer useful.

Brian Green cracks me up. He'd gladly walk off the edge of a cliff if Brent was two paces in front of him. Clueless.

Headless chickens apart from Greensam, Graham Clark & the Geezer that said Brent out!! Funny as Fcuk!!  

Good call BW and I'm sure you're all over the World Cup. I know you had a great time at the Auld Firm game at Wembley in August

Porkie has been quick in the button hasn't
he?

At 9am that story wasn't on Pasoti,  yet now 4 pages mainly because Porky has Brent torrouttes. Would love to call him out.

is it popcorn time?

So where are we now then?

Brent took over in Oct 2011 so we are almost exactly halfway to the balloon payment point.

When HHP was announced we were told that the extra income the new Grandstand would generate was essential for the club to be "sustainable". That says to me that without the stand we are and long since have been forecasting to run at a loss. This is backed up by Brent's plug-pulling and the Wrathall bail-out towards the end of last season.

Now Brent is suggesting that we still won't be breaking even next season - or at the very least we won't be profitable. That'll mean we need further funding from somewhere. After next season we'll be up to May 2015 which is a mere 17 months (6 of which are summer months and will generate no income) away from the balloon payment being due meaning we have 11 months of football in which to generate the £2m required. £2m equates to 6 months of total income. Half of our entire turnover.

Last week Starnes tells us that the balloon payment is reliant on HHP. HHP has been on the table since March 2013 (http://www.westernmorningnews.co.uk/Ambitious-multi-million-pound-plan-Plymouth-s/story-18424542-detail/story.html) and is due for completion in summer 2015 (http://www.higherhomepark.co.uk/project-development). Today Brent disses the possibility that the current stand will be empty for 12 months and suggests a decision will be made in 3 months or so. So HHP is not going to be finished on schedule, and probably not even started by the projected completion date, and the income it generates for Argyle, which we desperately need, is not going to arrive and so the balloon payment will be unmeetable via that route. Last week Starnes said "there is no Plan B".

Today Brent says the delay is because the units have not been sold. Those units have been on the market since March 2013. For 15 months we have been looking for "partners" and for 15 months partners have not been found.

The estimated timescale for the grandstand build was more than 12 months. Right now we aren't even near to starting the build.

How anybody can believe that the build is going to happen is beyond me. How anybody can believe that it will generate the balloon payment in time if it does is beyond me.

"There is no Plan B."

"There is no alternative."

Tick tock, tick tock.

"There is no Plan B."

"There is no alternative."

Tick tock, tick tock.

"There is no Plan B."

"There is no alternative."

Tick tock, tick tock.

Is this any way to run a football club?

We urgently need to break the chain of ownership by spivvy property developers. We narrowly dodged Heaney; for now we are lumbered with Brent; he's going to end up selling-up because his precious HHP is not going to happen and we had better pray to God that yet another chancer doesn't take his place.

God help us.

clubs going nowhere too many still dazzled by brent.

BRENT OUT

78 bloody millions tonight SFD....share it with you

Czarcasm wrote:

LOL. Newell now giving the 'Oh woe is me' line, wondering if he'll be able to face going to games next season. (Can't we have a violins emoticon, mods?)

Who does he think he's fooling? If there's any chance of him not going next season, it'll be because his AAA pass has expired due to invites to the Directors Box no longer coming his way from FES/FIL. Or a realisation from Brent that the Useful Idiot is actually no longer useful.

Oh I do hope he doesn't stop going. If only because match times are the one time the rest of Plymouth can get on with their business, safe in the knowledge there's no risk of encountering him.

Worryingly, I see the idea of 'crowd-funding' the balloon payment's already cropped up. Seriously big buckets that'll need.

Peggy wrote:

Czarcasm wrote:

LOL. Newell now giving the 'Oh woe is me' line, wondering if he'll be able to face going to games next season. (Can't we have a violins emoticon, mods?)

Who does he think he's fooling? If there's any chance of him not going next season, it'll be because his AAA pass has expired due to invites to the Directors Box no longer coming his way from FES/FIL. Or a realisation from Brent that the Useful Idiot is actually no longer useful.

Oh I do hope he doesn't stop going. If only because match times are the one time the rest of Plymouth can get on with their business, safe in the knowledge there's no risk of encountering him.

Worryingly, I see the idea of 'crowd-funding' the balloon payment's already cropped up. Seriously big buckets that'll need.

Sounds like a job for Mannameadbabe   

Dick Trickle wrote:

Good call BW and I'm sure you're all over the World Cup. I know you had a great time at the Auld Firm game at Wembley in August

Porkie has been quick in the button hasn't
he?

At 9am that story wasn't on Pasoti,  yet now 4 pages mainly because Porky has Brent torrouttes. Would love to call him out.

is it popcorn time?

Dont think I'll wear my Scotland shirt down the pub, foreshore DT - as for the Pongyang Pork, he's on a mission and mustered all his little helpers for support of their master!! When it all comes a tumbling these rats will find another king to follow!!