12-03-2004, 03:53 AM
Vist this link to view the BALANCE SHEET AND PROFIT/LOSS ACCOUNT OF Manchester United, you will notice that the players appeared as an asset in balance sheet
I think its now enough to support my post regarding HUMAN AS AN ASSET. In PROFIT/LOSS ACCOUNT you will see that manchester united showed an entry as DISPOSAL OF PLAYER (Assets).
http//ir.manutd.com/manutd/news/rns/2935442?id=1096264877nRNSa3451D
Since the end of the financial year we completed the acquisition of Wayne Rooney
from Everton. Wayne Rooney is a player whose skills we have admired for a number
of years and his performances at Euro 2004 only increased this interest. Our
plans were to bid for the player in Summer 2005, but Newcastle United's bid and
Everton's subsequent interest in selling him, forced us to accelerate our plans
or risk losing him. As a result we have now spent next summer's transfer budget
unless The net loss on disposal of players in the year was £3.1m. During the year we
terminated the contract of the player, Fabien Barthez, requiring a write off of
£2.6 million of unamortised intangible asset at the termination date on the 30th
June and a payment of £2.5 million in partial compensation for the remaining two
years of his six year contract. In addition, a provision was made against the
carrying value of Diego Forlan of £1.9 million at the year end, prior to the
sale of his registration in August 2004. These losses were offset by the sale of
Nicky Butt and further net income totalling £2.4 million being recorded in
respect of payments from Real Madrid for David Beckham, (for the progression of
Real Madrid in the Champions League competition), from Chelsea in respect of
Veron (for securing Champions League qualification through finishing second) and
from Blackburn in respect of Cole and Yorke (based on appearances and Blackburn
retaining Premiership status). players are disposed of to realise cash for re-investment. (taken from above link)
just look at the bottom part of this Consolidated Cashflow Statement, you would see Manchester United accounted players as a capital exopanditure.
MANCHESTER UNITED PLC
CONSOLIDATED CASHFLOW STATEMENT
For the year ended 31 July 2004
Notes
2004 2003
£'000 £'000
Net cash inflow from operating
activities 58,769 57,939
------- ------
Returns on investments and servicing of
finance
Interest received 1,169 316
Interest paid (112) (167)
------- ------
Net cash inflow from returns on
investments and servicing of
finance 1,057 149
------- ------
Taxation paid (11,052) (10,602)
------- ------
Capital expenditure and financial
investment
Proceeds from disposal of players'
registrations 8c 16,009 11,122
Purchase of players'
registrations 8c (44,813) (18,983)
Regards
Sajjad Dar
Edited by - sajjad_dar2000 on Dec 02 2004 110926 PM
Edited by - sajjad_dar2000 on Dec 02 2004 112041 PM
I think its now enough to support my post regarding HUMAN AS AN ASSET. In PROFIT/LOSS ACCOUNT you will see that manchester united showed an entry as DISPOSAL OF PLAYER (Assets).
http//ir.manutd.com/manutd/news/rns/2935442?id=1096264877nRNSa3451D
Since the end of the financial year we completed the acquisition of Wayne Rooney
from Everton. Wayne Rooney is a player whose skills we have admired for a number
of years and his performances at Euro 2004 only increased this interest. Our
plans were to bid for the player in Summer 2005, but Newcastle United's bid and
Everton's subsequent interest in selling him, forced us to accelerate our plans
or risk losing him. As a result we have now spent next summer's transfer budget
unless The net loss on disposal of players in the year was £3.1m. During the year we
terminated the contract of the player, Fabien Barthez, requiring a write off of
£2.6 million of unamortised intangible asset at the termination date on the 30th
June and a payment of £2.5 million in partial compensation for the remaining two
years of his six year contract. In addition, a provision was made against the
carrying value of Diego Forlan of £1.9 million at the year end, prior to the
sale of his registration in August 2004. These losses were offset by the sale of
Nicky Butt and further net income totalling £2.4 million being recorded in
respect of payments from Real Madrid for David Beckham, (for the progression of
Real Madrid in the Champions League competition), from Chelsea in respect of
Veron (for securing Champions League qualification through finishing second) and
from Blackburn in respect of Cole and Yorke (based on appearances and Blackburn
retaining Premiership status). players are disposed of to realise cash for re-investment. (taken from above link)
just look at the bottom part of this Consolidated Cashflow Statement, you would see Manchester United accounted players as a capital exopanditure.
MANCHESTER UNITED PLC
CONSOLIDATED CASHFLOW STATEMENT
For the year ended 31 July 2004
Notes
2004 2003
£'000 £'000
Net cash inflow from operating
activities 58,769 57,939
------- ------
Returns on investments and servicing of
finance
Interest received 1,169 316
Interest paid (112) (167)
------- ------
Net cash inflow from returns on
investments and servicing of
finance 1,057 149
------- ------
Taxation paid (11,052) (10,602)
------- ------
Capital expenditure and financial
investment
Proceeds from disposal of players'
registrations 8c 16,009 11,122
Purchase of players'
registrations 8c (44,813) (18,983)
Regards
Sajjad Dar
Edited by - sajjad_dar2000 on Dec 02 2004 110926 PM
Edited by - sajjad_dar2000 on Dec 02 2004 112041 PM
