I believe all of the numbers are based upon projections by Forbes, not any financial statements provided by the league/clubs. So I'm not sure how Forbes accounts for the various synergies with CFG, none of which are actually known to Forbes.
NYCFC in the Media Thread - 2019
- Thread starter LionNYC
- Start date
We paid roughly $11 million in transfer fees. Our salary hits we’re about $5 million this season. Throw in coaches and front office salaries and were running at about $20 million.
That would mean we’re spending $45 million on scouting costs, admin costs and the costs to rent Yankee Stadium.
That would mean we’re spending $45 million on scouting costs, admin costs and the costs to rent Yankee Stadium.
they said it doesn’t include stadium rent. It could include promotions like all the free tickets they give away. Also could include office rent and plane tickets. I hope it also includes a pastrami sandwich from Mendys to replace Medina.
EBITDAR is if you exclude either restructuring costs or rent. The list of excluded items in the article ends with amortization, as I quoted.
I can't believe no one mentioned community adjusted EBITDA yet lolol
qz.com
Get ready for some creative accounting in WeWork’s IPO filing
WeWork is a master of made-up financial measures.
qz.com
I can't believe no one mentioned community adjusted EBITDA yet lolol
Get ready for some creative accounting in WeWork’s IPO filing
WeWork is a master of made-up financial measures.
PS: sorry for treating this like the stadium thread
This could also be being treated similarly to expenses in order to assist MCFC with FFP (not saying it's happening, but it's possible). The advertising income could potentially not be traceable down to the individual club level, and the manner in which that revenue is allocated among each club may not be particularly "right"*
(* depending on your definition of how it should be allocated down)
There’s two ways to think about this: internally, they are likely to capitalize the rent payments. That’s fair for an apples to apples comparison to teams that don’t have rent expense.
Externally, I’ll bet it is included as it is in the league’s best interest when negotiating with players to show the worst p&l possible.
There's probably a limit to how bad the p&l can look before it becomes a negotiation disadvantage surely...
Every entertainment company cooks the books to underpay the talent, sports teams included.
I actually took a full semester class in Entertainment Accounting in B-School.
I agree that the overall idea makes sense, but with limitations. It's hard to imagine that a club being deeply in the red wouldn't be at least a slight turn off to talent.
$17M to the Yankees for stadium rental plus however much for Citi Field playoff
I can't believe no one mentioned community adjusted EBITDA yet lolol
Get ready for some creative accounting in WeWork’s IPO filing
WeWork is a master of made-up financial measures.
as in “adjusted EBITDA to exclude whatever the fuck we want to exclude”
Is this a cereal or on the Oreo cookies box?
