Sammie Szmodics

[Red Army 75]

 

[frenchred]

9 minutes ago, Red Army 75 said:

 

They listened to the same podcast as me then! No insider info or investigative journalism they just listened to "the hard truth"!

[bcfc01]

So we made 160k on his transfer to Blackburn.

Not 500k which we were owed anyway.

But all good for cashflow.

 

[GrahamC]

1 hour ago, Red Army 75 said:

 

Bit misleading though, isn’t it?

Peterborough still owed us £500k from the original fee, so this isn’t anything unforeseen or that we wouldn’t have already budgeted for.

The sell on profit was just a further £160k, better than nothing but hardly a game changer in terms of our finances.

[ScottishRed]

1 hour ago, GrahamC said:

Bit misleading though, isn’t it?

Peterborough still owed us £500k from the original fee, so this isn’t anything unforeseen or that we wouldn’t have already budgeted for.

The sell on profit was just a further £160k, better than nothing but hardly a game changer in terms of our finances.

Agreed. I think funding the Messi deal next summer will still be tricky for us.........

[Davefevs]

12 minutes ago, ScottishRed said:

Agreed. I think funding the Messi deal next summer will still be tricky for us.........

We get him Monday and Tuesday, in June, during the close season.

[Dolman_Stand]

2 hours ago, GrahamC said:

Bit misleading though, isn’t it?

Peterborough still owed us £500k from the original fee, so this isn’t anything unforeseen or that we wouldn’t have already budgeted for.

The sell on profit was just a further £160k, better than nothing but hardly a game changer in terms of our finances.

It's 500k up front that wouldn't have been allowed in this years accounts, not earth shattering but would help any immediate cash flow / FFP issues I suppose

[Mr Popodopolous]

The £500k aspect.

To what extent was this contingent on the sale or was it merely instalment based?

If it's the latter it's a welcome boost to cash flow but only the £160k sell on disposal in profit on players.

[Davefevs]

I haven’t listened to the pod, but…it appears Peterborough bought Szmodics from us for £1m in staged payments £250k per year.  As Peterborough had now sold him for £1.8m to Blackburn, they had to complete the remaining £500k owed to us (they’d only paid 2x £250k up to this point).

It appears we had a 20% sell on percentage (20% of any profit - £800k), so they also had to give us £160k too of the £1.8m they received from Blackburn.

From an FFP point of view the £500k is irrelevant, the £1m transfer fee was put into the accounts in full when he was sold 2 summers ago.  Staged payments make no difference to FFP.  It will’ve helped our Cashflow though, if we had any probs in that respect.

The £160k will go into this years accounts as transfer profit and will help FFP (as well as Cashflow).

Hope that makes sense.

Also, it appears there are £700k worth of add-ons in Blackburn’s purchase, which we might be entitled to 20% of depending on what those add-ons actually are.

Edited September 28, 2022 by Davefevs

[Mr Popodopolous]

Thanks Dave, that clears it up- up to another £140k would be welcome but might materialise at an unknown time.

Wasn't so clear in the Bristol Post article but £500k cash flow that is accelerated which helps with cash flow, then £160k in profit from the sell on.

[Davefevs]

9 hours ago, Mr Popodopolous said:

Thanks Dave, that clears it up- up to another £140k would be welcome but might materialise at an unknown time.

Wasn't so clear in the Bristol Post article but £500k cash flow that is accelerated which helps with cash flow, then £160k in profit from the sell on.

I don’t think Cashflow is ever an issue for us with SL.

[GrahamC]

My final point on this, Peterborough really do love the sound of their own voice in the media, don’t they?

Talk from them at the time was “3 Championship clubs after him” “bids of £2.5m, £3m”.

Sell him for £1.8m in the end, so their profit on this deal was only actually £640k.

[hinsleburg]

53 minutes ago, GrahamC said:

My final point on this, Peterborough really do love the sound of their own voice in the media, don’t they?

Talk from them at the time was “3 Championship clubs after him” “bids of £2.5m, £3m”.

Sell him for £1.8m in the end, so their profit on this deal was only actually £640k.

To be fair though it does seem to work, I don't think Szmodics is a £1.8m player but because of the media image of 'Peterborough have great but expensive players' it instantly seems to add 10-15% on the price.

Hoping we can do similar, whilst I'd rather not sell our young players if we can continue the good media image of producing/having good players that are sold for a premium such as Kelly, Webster, Bryan, Reid etc. then gives us potential to add 10-15% as well. I think we are already seeing this a bit with Semenyo with the alleged asking price of £20m +