Chairman The cost of Covid

[ttg17]

When Tiger says, "before people panic, the accounts for the year will actually show a profit," is it worth taking that with a pinch of salt? As in, is that profit likely to have been made because of capital injection from the board, rather than purely organic? I know he references things like iFollow, the PL grant and obviously player sales, but surely after the year we (and football more widely) have had, there's no way we can actually be in the black? We weren't exactly raking in massive profits before the pandemic - it seems difficult to believe that we've actually made money when such a major revenue stream has been cut off.

Or is the language he's using a little bit clever, in that 'the accounts for the year' refers to the last financial year? I note Companies House states that our next accounts, 'made up to 30 June 2020', are 'due by 30 June 2021'. Realistically most of the losses suffered by clubs will have been incurred in the current 2020/21 season - which these accounts won't show. Really, all they'll show is the loss of about 7 home games' worth of guaranteed income, so, given the sale of Fosu and Baptiste, it's more likely that they'll be showing a profit. Will the accounts for next year (i.e. the current year) make for grimmer reading than he's letting on?

Don't get me wrong, I'm not trying to punch holes in what is a very good statement, and I appreciate (as I'm sure we all do) the transparency. I am just wary of getting lulled into a false sense of security.

 

[Marked Ox]

Do Reading have ownership of the traditional nickname the Plastics? I think of Chelsea, Wycombe, MK, and Wimbledon in those terms too

Yes I think they've grown into it and it fits them nicely.

 

[QR]

They are odd in that they always seem to have good attackers and play good football but can’t even get into the playoffs. This looks like being their year but I wonder what has held them back.

I wouldn't say it was odd. I think they are a lot like us. They do well but just as you think they are going to push on they sell and take a step or maybe two backwards and have to start to rebuild again. It's not wrong but it's the consequence of needing to keep the finances above the waterline.

 

[werthersoriginal]

I wouldn't say it was odd. I think they are a lot like us. They do well but just as you think they are going to push on they sell and take a step or maybe two backwards and have to start to rebuild again. It's not wrong but it's the consequence of needing to keep the finances above the waterline.

Yeah I don’t really monitor them closely, maybe that’s how people perceive us.

 

[QR]

It would be good if they would publish the iFollow uptake and income generated figures and also push the service more widely (I'm not in marketing so have no suggestions - I'm sure others will have). I'm always trying to encourage people I know who are part-time supporters to use it and most are unaware they can actually watch games live. One I know will now be subscribing to watching next week's Sw*nd*n game.

 

[Ox4Eva]

Do Reading have ownership of the traditional nickname the Plastics? I think of Chelsea, Wycombe, MK, and Wimbledon in those terms too

Well I think of all premiershit supporters as plastics, but the hooped horrors from along the road are THE plastics

 

[werthersoriginal]

Well I think of all premiershit supporters as plastics, but the hooped horrors from along the road are THE plastics

Bit harsh on City, is it their pitch?