transfer fees funded by the fans distorted the size of loss in 03/04 season

Transfer fees for :

Hux ?750K + ?250k
Svensson ?50K + ?250k
Mckenzie ?325k
Francis ?260k
Drury ?150k (due to promotion)

Thats ?2035k less ?135k re Russell = ?1.9m

While the transfer fees would have been shown in the Profit and Loss Account with the resultant loss that season, the fees were nearly all funded by the fundraising by the fans and not from recurring cashflows.

So the underlying recurring loss is alot less than
at first glance of the Accounts. In addition nothing has been considered for the higher level of agents fees, loan fees that season etc.

In addition there were ?1.6m of prmotion bonuses in those accounts that we hope to see repeated !

Posted By: oh arr, Aug 3, 13:04:24