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denismcquadeno.eleven

ANOTHER GLASGOW RIVALRY IS BORN!

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Queens Park’s win today over Airdrie in the Play Off Final ensures they will be playing in tier two with Thistle in season 2022/23. Thus, there will be a  Glasgow side with which to have a rivalry in the same league, in season 2022/23. 

Edited by denismcquadeno.eleven

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11 hours ago, denismcquadeno.eleven said:

Queens Park’s win today over Airdrie in the Play Off Final ensures they will be playing in tier two with Thistle in season 2022/23. Thus, there will be a  Glasgow side with which to have a rivalry in the same league, in season 2022/23. 

Actually I was thinking it the other way round. Thistle & Airdrie would've made for much more intense derby rivalry than games with QP will.

Edited by lady-isobel-barnett

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22 minutes ago, lady-isobel-barnett said:

Actually I was thinking it the other way round. Thistle & Airdrie would've made for much more intense derby rivalry than games with QP will.

Although geographically Airdrie does lie in North Lanarkshire with an ML postcode, so technically not a Glasgow side. Clyde have more of a claim, prior to their move to windy lego wonderland.

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32 minutes ago, sandy said:

Although geographically Airdrie does lie in North Lanarkshire with an ML postcode, so technically not a Glasgow side. Clyde have more of a claim, prior to their move to windy lego wonderland.

Back in the day, when based at Shawfield, Clyde were our biggest Glasgow rivals. There was certainly no love lost between the two sets of supporters and I recall some fierce encounters between the two teams. But, QP are a team on the rise after two promotions. They’ve gone professional, they’ve got money and they’re bound to want to carry things on next season. Looking at the footage from the Airdrie v QP match today, they had a good support backing them too. I think games between Thistle and QP next season could be  very competitive.

Edited by denismcquadeno.eleven

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I'm chuffed that we wont be seeing Airdrie fans anywhere near Firhill next season.....mostly lowlife as far as I have seen.

 

 

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54 minutes ago, Yellow & Redneck said:

Time for McCall and the board to get their finger out or we could be Glasgow's fourth team before long. 

They are being funded big time, both on and off the park. 
The youth set up already seems to be passing us by, the U18’s have won the league 2 years in a trot. 
Willie Haugey is putting a lot in, and they are currently worth around £8.5 million with over £3million in the bank.

The question is how big can they be sustainable at? They had around 600 ST holders last year, but a successful season could grown that, but, lesser Hampden will only hold 1200 when it initially opens, so match day revenue is half of ours. 

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33 minutes ago, Norgethistle said:

They are being funded big time, both on and off the park. 
The youth set up already seems to be passing us by, the U18’s have won the league 2 years in a trot. 
Willie Haugey is putting a lot in, and they are currently worth around £8.5 million with over £3million in the bank.

The question is how big can they be sustainable at? They had around 600 ST holders last year, but a successful season could grown that, but, lesser Hampden will only hold 1200 when it initially opens, so match day revenue is half of ours. 

<spit take> Where are you getting that 8.5 million figure from?!?  That’s bonkers.

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43 minutes ago, ChiThistle said:

<spit take> Where are you getting that 8.5 million figure from?!?  That’s bonkers.

It’s not that wild, depending on what’s happened in the last year and a half. The last set of Queen’s Park accounts to 31 December 2020 have their balance sheet at £6.65 million, of which about half was fixed assets (presumably Lesser Hampden and related land). And they had just shy of £3 million in the bank.

They have recently had a lot more money in cash than Thistle does, but I would expect that to deplete somewhat with the payment for Lesser Hampden works, and they’re also obviously a much lower turnover company than Thistle is.

Edit to add: When Norge says £8 million he’s referring to the £8.2 million of total assets less current liabilities in their December 2020 accounts, whereas the £6.65 million is their revenue account figure. See attached.

 

AF4B7135-A0B6-45CA-B8FB-124241366F01.thumb.jpeg.522478face82c9808d06c0cb344d3c6b.jpeg

Edited by Woodstock Jag

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Thanks WJ - interesting to note the 2.1 million owed to them.  Wonder where that number came from.

Also will be interesting to see how our accounts change once the land transfer is complete.

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37 minutes ago, ChiThistle said:

Thanks WJ - interesting to note the 2.1 million owed to them.  Wonder where that number came from.

Also will be interesting to see how our accounts change once the land transfer is complete.

Our accounts registered a £900k impairment loss on investment when PropCo sold the land and we didn’t receive a distribution from the proceeds. That essentially cut the Club’s net worth from £6 million to £5 million in the financial year to end of May 2020.

My best bet is that our accounts to end of May 2022 will show an increase of £1.95 million, plus or minus appreciation/depreciation, associated with the transfer of the former PropCo land fully back into PTFC Ltd ownership. Therefore all other things being equal our net worth would be up to £7 million or so, as the Club notionally broke even in the year to end of May 2021.

What PTFC Ltd’s accounts don’t and won’t show is how much funding has come (directly or indirectly) from 3BC to enable that break-even result to come about.

However we do know that our turnover has crashed, from a peak of £4.5 million in year to end of May 2018 (last Premiership season), to £3 million in 2019 (Championship with parachute payment) to £2.7 million in 2020 (relegation/Covid season) to £1.5 million (third tier reduced season) in 2021. If spending hasn’t come down by similar orders of magnitude, that suggests someone else has been subsidising it.

I would expect that our turnover recovered this year somewhat but we won’t know how much until the next set of accounts are published (going by previous years some point between October and December). This year will also have included some non-recurring revenue sources, such as the last of Covid grants and Queen’s Park’s ground share payment.

Edited by Woodstock Jag

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7 hours ago, ChiThistle said:

<spit take> Where are you getting that 8.5 million figure from?!?  That’s bonkers.

Companies house data

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7 hours ago, Woodstock Jag said:

 

 

AF4B7135-A0B6-45CA-B8FB-124241366F01.thumb.jpeg.522478face82c9808d06c0cb344d3c6b.jpeg

If only that was a page from PTFC accounts.

The Spiders have obvious backing and ambition. But their playing squad is still pretty lightweight, looking at their performances in the playoffs. 

An afterthought, it’s clear even from the 2019 figures that we could have charged much more for groundsharing. Hmm…

Edited by sandy

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14 minutes ago, sandy said:

If only that was a page from PTFC accounts.

The Spiders have obvious backing and ambition. But their playing squad is still pretty lightweight, looking at their performances in the playoffs. 

An afterthought, it’s clear even from the 2019 figures that we could have charged much more for groundsharing. Hmm…

Their “plan” was to stabilize in league 1 this season and win promotion to Championship next season, they are 1 year ahead of their goal.

As JavaJag stated the plan is to be in Europe in 5 years, with back to back promotion a very healthy balance sheet, a large investment in backroom staff (Dempsey, Coyle etc) they are definitely setting themselves up to be challenging for promotion in next year or 2

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What I've never had a satisfactory explanation for is what our "other operating income" has been in the last two years.
 

ETA: LenzieJag’s explanation that it may be furlough payments makes sense.

Edited by Woodstock Jag

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4 hours ago, Norgethistle said:

Their “plan” was to stabilize in league 1 this season and win promotion to Championship next season, they are 1 year ahead of their goal.

As JavaJag stated the plan is to be in Europe in 5 years, with back to back promotion a very healthy balance sheet, a large investment in backroom staff (Dempsey, Coyle etc) they are definitely setting themselves up to be challenging for promotion in next year or 2

They have Willie Haughey who has pledged to bankroll a 10 year plan to try and make them Scotlands 3rd team the new director of football was given a 10yr contract i was told.

Seeing them promoted so quickly gives me the fear tbh depite the fact my sons best pal plays for them I  would rather have seen Airdrie come up and thats saying something...

I find it hard to see how sustainable that will be with thier support but if they are doing well on the park that may well just grow..

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Scotland's 3rd team with a few hundred season ticket holders and a ground with a capacity of less than 2,000.....?

Is this Gretna all over again?

What next? Kelty Hearts pushing Celtic for the Premiership title?

Really, where's it all going, other than to the dogs?

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With QP alredy able to pay higher wages than us and teams like Cove, Kelty, Edinburgh City and now Bonnyrig Rose progressing up the leagues we need to get our act together sooner rather than later..

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1 minute ago, Jaggernaut said:

Scotland's 3rd team with a few hundred season ticket holders and a ground with a capacity of less than 2,000.....?

Is this Gretna all over again?

What next? Kelty Hearts pushing Celtic for the Premiership title?

Really, where's it all going, other than to the dogs?

it feesl like Gretna but being done much more professionally, serious investment and a sound financial base...

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