Mar 03
Here is the evidence lads.
How the hell are the scum in 15th????!!!!
Up the Arse!!!!!
Ed. Note - This is a tricky matter of economics, you really need to read the article. ManU are tops, and right behind Arsenal are Liverpool, Newcastle and Chelsea. Leeds also make the list.
4 Responses to “7th Richest Club In The World!!!!”
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March 3rd, 2004 at 10:46 am
This article seems to report no more than annual net income. Now, I haven’t been to business school, but I feel quite certain that assessing the value of a corporation from an income statement alone — without simultaneously consulting a balance sheet of assets and liabilities — is an exercise in Enron economics.
But please, feel free to correct me if I’m wrong.
March 3rd, 2004 at 11:22 am
Dont read too much into this. How do you define a clubs’ asset base on it players. 2 years ago Leeds were in the top 5 and were is that club now. I can see Chelsea on top next season.
March 3rd, 2004 at 11:42 am
In the UK does income mean revenue or is it a the bottom line number of revenue minus expenses?
If the former (revenue) then this is meaningless because while revenue may be very high if expenses are higher, then a team is still in trouble.
If the latter (net revenue) then it provokes some interesting scenarios.
Any help from those across the pond?
March 4th, 2004 at 2:34 am
I think I read elsewhere that the list is based on last year’s revenues . . . it isn’t net income (Revenue - Expense). So I would say income = revenue in this case. Definitions are different everywhere I find (I’m a Chartered Accountant in Canada and I have worked in Australia). What we call “Inventory” in North America, others call “Stock” i.e. Inventory Count vs. Stocktake.
I think that to value a club - you need to look at the balance sheet, income statement, forecasts, etc. Firms like Deloitte get paid to do that . . .