VSC meet with the Finance Director

[silent majority]

In recent meetings with the club the VSC have been discussing the financial status of the club and how the recent investments have affected the club. Hopefully, despite factoring in significant losses, (which is extremely common in today’s football) it does appear that we are stronger now more than ever. Here’s an overview;
 
The accounts cover the period up until the end of June 2025, so include the promotion winning season, but exclude a lot of the recent investments. Planned losses for the season were £3.2m which seems at first glance to be considerable, but it does match Terry’s ambition for the club and alongside a lot of our competitors it could be seen as a relatively small amount when you consider that the end result was promotion. From a VSC point of view it was planned to lose money, so it was under the club’s control and was always in the budget. Problems at most other clubs occur because losses are racked up without any real control and without a realistic plan for the money to be repaid. In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.

This £3.2m loss could have been worse but it has to be said that the club did exceptionally off the field as well and saw efforts bring in another £1m. Club Doncaster up 32% and ticketing up 18% are good examples. The new TV deal with Sky also brought in further gains although I’m sceptical as to whether this will be a positive going forward. That’s very much a personal opinion and not one that is being discussed with the club!

Further gains can be seen around the club and the business model adopted some years ago continues to bear fruit, ticketing is up, commercial partners are up and off field revenue continues to grow. The business model has always been that Club Doncaster is there to support Doncaster Rovers and that continues to be the case. To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.
 
Salaries increased substantially, up by about £1.3m, National Insurance up by about £0.1m and Stadium costs adding a further £0.2m. The legislation changes cost the club about £1.5m more than the previous season. Utilities are also adding to the burden.
 
However, what we can see is that there has been some very serious investment by the club recently, notably the £1m at the training ground to include state of the art equipment which will reap rewards by attracting (hopefully) better quality players. This has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance. That can also be seen in the recent announcement of the club that they will be buying the training ground from the council. This investment is Terry’s commitment to increasing the value of the club and making Doncaster Rovers appear to be the club to be at, and the club to support. It’s noticeable that the stated ambition is to be ‘Championship ready’.

Further investment is also planned for the stadium, including a new big screen and LED advertising. All this is needed and required if we are to maximise the potential that this club has, and continuing the growth off the pitch enables the club to maximise its opportunities on the pitch.
 
In summary, shrewd investment, and an awareness not to put the club in any financial danger, means that we can rest assured in the knowledge that we can go forward without the fear of a financial mishap. The immediate future looks safe!
 
 

Sent from my iPhone

[GazLaz]

Is the £3.2m loss covered by Terry, Club Donny or a combination of both?

[Pancho Regan]

That’s excellent stuff Martin, many thanks for supplying such a comprehensive report.

Very interesting and very reassuring.

[mpc123]

The support from Terry, the collective club success internally, the investment in infrastructure are very positive. There’s a real feeling of momentum around the club at the moment, what can supporters do collectively to help accelerate the journey toward becoming a sustainable Championship-level club?

[craigdrfc]

Thanks Martin.

[Monkcaster_Rover]

What a man Terry is.

[sedwardsdrfc]

Great stuff sounds in good shape for a football club at least.

Would Terry be willing to offer some cash to fix the Forum and save us from the Cookie Monster?

[CottyRover]

I was wondering that! It's being particularly bad at the moment

[roversdude]

Are there any plans to install solar and batteries to try and reduce cost of energy

[wilts rover]

Are there any plans to install solar and batteries to try and reduce cost of energy

Good idea, working well for Britain

Install infrastructure for it miles from Keepmoat and get Doncaster residents to pay for it. How large are these batteries and where are they made?

Will be great for night matches and in winter.

You're Edcase Mad Milliband and I claim £5

Exactly. Why have free electricity - or even get paid for the surplus electricity you are producing - when you can pay an ever increasing cost to boost the profits of tax dodging multinational fossil fuel companies.

You are a Russian bot and you can keep your money.

[silent majority]

The stadium already has solar panels on the roof.

[vaya]

The stadium already has solar panels on the roof.

Yes, but they mean constructing a massive solar farm miles away costing a fortune using panels imported from China.  Free electricity,  the very first ever invented perpetual motion machine.

The world through a child's eyes.

Good grief

Pretty sure no-one's proposed building a solar farm miles away from the ground, apart from you.

[Metalmicky]

Yep, I have solar panels on my own roof and can confirm I have no sheep or cows...

[Pancho Regan]

This thread has drifted a bit hasn’t it?

[MachoMadness]

The stadium already has solar panels on the roof.

Yes, but they mean constructing a massive solar farm miles away costing a fortune using panels imported from China.  Free electricity,  the very first ever invented perpetual motion machine.

The world through a child's eyes.

Good grief

[vaya]

The stadium already has solar panels on the roof.

Yes, but they mean constructing a massive solar farm miles away costing a fortune using panels imported from China.  Free electricity,  the very first ever invented perpetual motion machine.

The world through a child's eyes.

Good grief

Stick to cheering on a Muslim man punching a woman in the face,  that's more your level,  though perhaps you're against that now.
Isn't it strange? No-one is supporting the idea of huge infrastructure being built at huge cost to build on an unreliable energy source.
Now implement that idea nationwide...

 You've made something up, started arguing with yourself and are now claiming victory against yourself.

None of this has anything to do with Rovers, football or the purpose of this thread.

[TonySoprano]

In recent meetings with the club the VSC have been discussing the financial status of the club and how the recent investments have affected the club. Hopefully, despite factoring in significant losses, (which is extremely common in today’s football) it does appear that we are stronger now more than ever. Here’s an overview;
 
The accounts cover the period up until the end of June 2025, so include the promotion winning season, but exclude a lot of the recent investments. Planned losses for the season were £3.2m which seems at first glance to be considerable, but it does match Terry’s ambition for the club and alongside a lot of our competitors it could be seen as a relatively small amount when you consider that the end result was promotion. From a VSC point of view it was planned to lose money, so it was under the club’s control and was always in the budget. Problems at most other clubs occur because losses are racked up without any real control and without a realistic plan for the money to be repaid. In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.

This £3.2m loss could have been worse but it has to be said that the club did exceptionally off the field as well and saw efforts bring in another £1m. Club Doncaster up 32% and ticketing up 18% are good examples. The new TV deal with Sky also brought in further gains although I’m sceptical as to whether this will be a positive going forward. That’s very much a personal opinion and not one that is being discussed with the club!

Further gains can be seen around the club and the business model adopted some years ago continues to bear fruit, ticketing is up, commercial partners are up and off field revenue continues to grow. The business model has always been that Club Doncaster is there to support Doncaster Rovers and that continues to be the case. To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.
 
Salaries increased substantially, up by about £1.3m, National Insurance up by about £0.1m and Stadium costs adding a further £0.2m. The legislation changes cost the club about £1.5m more than the previous season. Utilities are also adding to the burden.
 
However, what we can see is that there has been some very serious investment by the club recently, notably the £1m at the training ground to include state of the art equipment which will reap rewards by attracting (hopefully) better quality players. This has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance. That can also be seen in the recent announcement of the club that they will be buying the training ground from the council. This investment is Terry’s commitment to increasing the value of the club and making Doncaster Rovers appear to be the club to be at, and the club to support. It’s noticeable that the stated ambition is to be ‘Championship ready’.

Further investment is also planned for the stadium, including a new big screen and LED advertising. All this is needed and required if we are to maximise the potential that this club has, and continuing the growth off the pitch enables the club to maximise its opportunities on the pitch.
 
In summary, shrewd investment, and an awareness not to put the club in any financial danger, means that we can rest assured in the knowledge that we can go forward without the fear of a financial mishap. The immediate future looks safe!
 
 

Sent from my iPhone

Interesting, maybe share on X and FB?
Given how the vast majority of rovers fans arent in this forum, and especially now given how unusable it has become

[NickDRFC]

Thanks SM, some interesting insight there. Overall it’s still reassuring that we have TB and he’s willing to bankroll some pretty significant losses. It’s great that we have an owner willing to spend money to get us up the league (or leagues hopefully!) but I still have nagging concerns for the future. The increase in revenue for the year (£1m) didn’t come close to covering the increase in operating costs; maybe there’s more scope with commercial revenue, TV rights and FL handouts but a £3m loss in League Two feels like a lot to me and we’re extremely lucky that someone was willing to gamble with their own cash to fund a promotion push. It would be interesting to see how that loss compares to a PV or Bradford, and interesting to see whether that loss for 25/26 has narrowed after promotion with improved revenues or has actually grown with higher salaries but I guess that’s one for next year.

One point that I find a little confusing, though. I might be misinterpreting or it could just be the way it’s worded isn’t quite right but would appreciate if you could clarify, SM.

“In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.”

“This (investment) has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance”

“To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.”

Those first two statements seem to contradict the last one. Does that mean that TB is putting an equity injection into Club Doncaster, which is then loaning money to Rovers? As opposed to a direct equity injection into Rovers? I know FFP treats equity injections as revenue, but not sure where it stands for loans, although I’m sure the club is all over that. Is there any risk, though, that CD could ever call these loans in?

[Glyn_Wigley]

Has Smyth finally been hoyked off the forum, or just his latest racially-motivated posts?

[DearneValleyRover]

I deleted them Glyn

[Blue Green Algae]

I deleted them Glyn

Wonderful to see the lesser spotted forum admin

[In the box]

Thanks SM, some interesting insight there. Overall it’s still reassuring that we have TB and he’s willing to bankroll some pretty significant losses. It’s great that we have an owner willing to spend money to get us up the league (or leagues hopefully!) but I still have nagging concerns for the future. The increase in revenue for the year (£1m) didn’t come close to covering the increase in operating costs; maybe there’s more scope with commercial revenue, TV rights and FL handouts but a £3m loss in League Two feels like a lot to me and we’re extremely lucky that someone was willing to gamble with their own cash to fund a promotion push. It would be interesting to see how that loss compares to a PV or Bradford, and interesting to see whether that loss for 25/26 has narrowed after promotion with improved revenues or has actually grown with higher salaries but I guess that’s one for next year.

One point that I find a little confusing, though. I might be misinterpreting or it could just be the way it’s worded isn’t quite right but would appreciate if you could clarify, SM.

“In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.”

“This (investment) has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance”

“To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.”

Those first two statements seem to contradict the last one. Does that mean that TB is putting an equity injection into Club Doncaster, which is then loaning money to Rovers? As opposed to a direct equity injection into Rovers? I know FFP treats equity injections as revenue, but not sure where it stands for loans, although I’m sure the club is all over that. Is there any risk, though, that CD could ever call these loans in?

It would appear your insightful questions don’t warrant a reply . Not in the loop I suppose , a bit like this forum out of kilter with opinions!!

[big fat yorkshire pudding]

One thing that would be useful to understand is if there is an impact on the club from the updated SCMP rules, do we have the turnover to support a decent sized wage bill at 50% max of turnover?

Also question on what balance sheet has the recent investment been capitalised, is that club Doncaster or drfc?  As a shared resource are the other entities contributing to those costs of the gym etc?

[silent majority]

Thanks SM, some interesting insight there. Overall it’s still reassuring that we have TB and he’s willing to bankroll some pretty significant losses. It’s great that we have an owner willing to spend money to get us up the league (or leagues hopefully!) but I still have nagging concerns for the future. The increase in revenue for the year (£1m) didn’t come close to covering the increase in operating costs; maybe there’s more scope with commercial revenue, TV rights and FL handouts but a £3m loss in League Two feels like a lot to me and we’re extremely lucky that someone was willing to gamble with their own cash to fund a promotion push. It would be interesting to see how that loss compares to a PV or Bradford, and interesting to see whether that loss for 25/26 has narrowed after promotion with improved revenues or has actually grown with higher salaries but I guess that’s one for next year.

One point that I find a little confusing, though. I might be misinterpreting or it could just be the way it’s worded isn’t quite right but would appreciate if you could clarify, SM.

“In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.”

“This (investment) has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance”

“To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.”

Those first two statements seem to contradict the last one. Does that mean that TB is putting an equity injection into Club Doncaster, which is then loaning money to Rovers? As opposed to a direct equity injection into Rovers? I know FFP treats equity injections as revenue, but not sure where it stands for loans, although I’m sure the club is all over that. Is there any risk, though, that CD could ever call these loans in?

It would appear your insightful questions don’t warrant a reply . Not in the loop I suppose , a bit like this forum out of kilter with opinions!!

You do like a veiled dig don’t you?

You must have missed the bit weren’t stated o was out of the country. And to complicate matters there’s an 8 hour time difference and I’m on a road trip with barely any chance to respond fully to anything.

Nick will get a response as soon as I get to my next destination, hopefully!

[NickDRFC]

Thanks SM, some interesting insight there. Overall it’s still reassuring that we have TB and he’s willing to bankroll some pretty significant losses. It’s great that we have an owner willing to spend money to get us up the league (or leagues hopefully!) but I still have nagging concerns for the future. The increase in revenue for the year (£1m) didn’t come close to covering the increase in operating costs; maybe there’s more scope with commercial revenue, TV rights and FL handouts but a £3m loss in League Two feels like a lot to me and we’re extremely lucky that someone was willing to gamble with their own cash to fund a promotion push. It would be interesting to see how that loss compares to a PV or Bradford, and interesting to see whether that loss for 25/26 has narrowed after promotion with improved revenues or has actually grown with higher salaries but I guess that’s one for next year.

One point that I find a little confusing, though. I might be misinterpreting or it could just be the way it’s worded isn’t quite right but would appreciate if you could clarify, SM.

“In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.”

“This (investment) has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance”

“To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.”

Those first two statements seem to contradict the last one. Does that mean that TB is putting an equity injection into Club Doncaster, which is then loaning money to Rovers? As opposed to a direct equity injection into Rovers? I know FFP treats equity injections as revenue, but not sure where it stands for loans, although I’m sure the club is all over that. Is there any risk, though, that CD could ever call these loans in?

It would appear your insightful questions don’t warrant a reply . Not in the loop I suppose , a bit like this forum out of kilter with opinions!!

You do like a veiled dig don’t you?

You must have missed the bit weren’t stated o was out of the country. And to complicate matters there’s an 8 hour time difference and I’m on a road trip with barely any chance to respond fully to anything.

Nick will get a response as soon as I get to my next destination, hopefully!

No rush and that post certainly doesn’t reflect my views!

[DearneValleyRover]

I deleted them Glyn

Wonderful to see the lesser spotted forum admin

I’m not really admin, I’m not a mod but I can move posts or delete if needed

[silent majority]

Thanks SM, some interesting insight there. Overall it’s still reassuring that we have TB and he’s willing to bankroll some pretty significant losses. It’s great that we have an owner willing to spend money to get us up the league (or leagues hopefully!) but I still have nagging concerns for the future. The increase in revenue for the year (£1m) didn’t come close to covering the increase in operating costs; maybe there’s more scope with commercial revenue, TV rights and FL handouts but a £3m loss in League Two feels like a lot to me and we’re extremely lucky that someone was willing to gamble with their own cash to fund a promotion push. It would be interesting to see how that loss compares to a PV or Bradford, and interesting to see whether that loss for 25/26 has narrowed after promotion with improved revenues or has actually grown with higher salaries but I guess that’s one for next year.

One point that I find a little confusing, though. I might be misinterpreting or it could just be the way it’s worded isn’t quite right but would appreciate if you could clarify, SM.

“In this instance Terry is not looking for repayment, therefore strengthening the balance sheet.”

“This (investment) has a major impact on the club’s balance sheet as the money came directly from Terry without the need for external funding or finance”

“To sustain those losses the loans are done intercompany, with CD loaning the monies to DRFC.”

Those first two statements seem to contradict the last one. Does that mean that TB is putting an equity injection into Club Doncaster, which is then loaning money to Rovers? As opposed to a direct equity injection into Rovers? I know FFP treats equity injections as revenue, but not sure where it stands for loans, although I’m sure the club is all over that. Is there any risk, though, that CD could ever call these loans in?

Hi Nick,
The simple explanation is that DRFC is a subsidiary of CD therefore any requests for financing follow that route. Historically the money is usually in the form of a loan and then when the timing suits the change is made as an injection of capital.

I have a meeting lined up with Gavin for when I’m back in the country. If you drop me a  with specific questions I’ll get answers for you. That might be easier than trying to donut from here.

Same goes for you BFYP. Drop me a line as there are changes afoot with SCMP.

[Smyth]

Has Smyth finally been hoyked off the forum, or just his latest racially-motivated posts?

Are you lying or just an ignorant fool?
There was NO racially motivated posts on this thread by me.
Care to explain?

[Glyn_Wigley]

Has Smyth finally been hoyked off the forum, or just his latest racially-motivated posts?

Are you lying or just an ignorant fool?
There was NO racially motivated posts on this thread by me.
Care to explain?

Yeah, they were removed because they were so woke!

Stick to cheering on a Muslim man punching a woman in the face,  that's more your level

[Smyth]

As I  said, NO racially motivated post.
See the Olympics thread