Pivotal week for the Cardiff Devils

[toy_car_uk]

SO OK, THE BIG QUESTION, WHERE EXACTLY IS THE SEASON TICKET MONEY?

If it is nearly £140,000, then surely it is accounted for somewhere.

This figure just keeps getting bigger and bigger, yet never have I seen any one provide and evidence of the figures quoted.

140000@£346 = 404 season tickets paid for up front, no concessions and no child tickets. Given the current economic environment, the fact that some tickets will have been concessions and for children, and last years total season ticket sales do people really believe the baseless figures being banded around?

 

[bluedevil]

That would be for both us and the Steelers though, sounds about right to me.

Any shortfall from concessions would have been partially made up by initial payments for direct debit.

 

[toy_car_uk]

That would be for both us and the Steelers though, sounds about right to me.

Any shortfall from concessions would have been partially made up by initial payments for direct debit.

the figure I have seen being banded around for both teams is £300000

 

[Finny]

One simple way of estimating costs is to assume that other costs equate to salary cap (plus PAYE & NI).

Working regularly with forensic accountants I have a view but it is best kept to myself.

I don't understand the first comment sorry OJ. Why would you assume other costs equate to salary cap?

And then why would you feel it is best to keep your estimate to yourself?

 

[Nott Simpson]

Finny that was a suggestion to make the calculation easier

Example for illustrarive purpose only:

£7,000 pw salary cap + 20% NI etc = £8,400

£8,400 + £7,000 = £15,400 per week

£15,400 X 36 weeks = £554,400

Deduct income and we have the deficit for the season as far as the hockey side is concerned.

I will let you decide how this figure is inflated to the published debts.

A more detailed analysis can be undertaken with some knowledge of the ancilliary costs but it is wiser for others to do that as I have been off the scence for too many years

 

[DevilDom]

Finny that was a suggestion to make the calculation easier

Example for illustrarive purpose only:

£7,000 pw salary cap + 20% NI etc = £8,400

£8,400 + £7,000 = £15,400 per week

£15,400 X 36 weeks = £554,400

Deduct income and we have the deficit for the season as far as the hockey side is concerned.

I will let you decide how this figure is inflated to the published debts.

A more detailed analysis can be undertaken with some knowledge of the ancilliary costs but it is wiser for others to do that as I have been off the scence for too many years

These figures seem reasonable to me, however its worth noting that PAYE is not an additional cost to the employer it is deducted from the employees gross salary and then should bepassed over to HMRC. Employers NI is the only additional tax an employer would be liable for and this was 12.8% until April 2011. Therefore the plus 20% figure is probably slightly generous and makes it all the more astounding as to how much debt has built up in the business before its liquidation.

 

[TheStub]

Except (for some reason) all wages to players and the wage cap is after tax and NI. So OJ's 20% extra on the cap figure is probably a good one.

 

[DevilDom]

Except (for some reason) all wages to players and the wage cap is after tax and NI. So OJ's 20% extra on the cap figure is probably a good one.

In that case 20% is probably not high enough. A figure of around 25-30% would be more reasonable given the base rate of income tax is 20% (after the personal allowance).

 

[Hynod]

http://www.cardiffdevils.com/news/visas-well-underway/

Missed this one earlier today

Visas well underway

The Cardiff Devils are making great strides on the ice this week as new signing Chris Frank joins the team, and another big signing revealed on Saturday.

In the offices too, a huge amount of work is being done to get ready for the new season. Sponsors are being signed up (more exciting news on sponsorship here on cardiffdevils.com next week), travel arrangements being made, festival of hockey plans laid out and, possibly most important of all, the Player Visa paperwork is well underway.

The man behind the UK border Agency paperwork is Simon Hodgkinson and he has ate, slept and breathed Visa paperwork for the last few weeks.

"The sponsor's licence is crucial to our business" said Paul Ragan, CEO of the Devils today. "Without it we cannot sign any import players so clearly in the 10 import EIHL it's our number one priority.

Simon has worked tremendously hard on the application. I am delighted to say we have our A-rated sponsors licence and that the first Visa applications are well underway. It's a great effort from Simon and the team and we're lookng forward to the new season more and more."

Indeed the Visa paperwork is a complex and detailed project, one which the Devils new company simply had to get right first time - and they have. Applications for all the Devils imports are underway and with G and Franny looking to make more signings soon, things are looking bright for the Devils.

Don't forget our player announcement tomorrow morning right here.