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Sky team finances

 
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Nolte



Joined: 15 Oct 2006
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Location: irlande

PostPosted: Mon Jul 25, 2016 5:40 pm    Post subject: Sky team finances  Reply with quote

http://inrng.com/2016/07/the-finances-of-team-sky-2015/

From inner ring, an interesting read.
I know it was mentioned on one of the stage threads

The main thing I take from this is they are paying tax at 100% *gasp*

Although this is probably result of non-tax deductible expenses

Wages for riders come to £17.9 million. The overall budget is £24million

Looking through article, it states that comparable figures aren't available for other teams because of accounting rules some accounts may be minimum disclosures, others no obligation to file accounts (for example, at work i've tried in regards of us llc's to see what information we can obtain, if they have something like our cro or UK's companies house and there is nothing I could find for us)
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Fontfroide



Joined: 07 Apr 2008
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Location: Herault, France

PostPosted: Mon Jul 25, 2016 6:37 pm    Post subject: Reply with quote

I wonder where l'Equipe got its figures, the ones I posted a few days ago on some thread or other.  They had Sky at 35 million euros and gave figures for every other team in the Tour.

Something is fishy here.
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Boogerd_Fan



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PostPosted: Mon Jul 25, 2016 6:39 pm    Post subject: Reply with quote

Just a conversion rate issue? 24£ into 35€
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Nolte



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PostPosted: Mon Jul 25, 2016 7:22 pm    Post subject: Reply with quote

Using the 2015 euro £ average rate of  €1.3625 :  £1, it comes to €33.3 million. Of course that is average rate for 2015

Of course point of exchange is important (looking at p & l figures, they made a gain on exchange rate fluctuation in 2015 of £38,000 compared to £306,000 in 2014)  so date is interest

I'll look at exchange further when on computer later

Edit - it does mention in the article how riders are considered contractor so if for example roche, landa, poels etc bill sky on the service agreement in euro, then based on the events of last month the cost of these riders increased. If konig was on €1 million, the last year this was £700,000, now it is €850,000.

If however they bill sky in pounds, the effect is nothing for the team but but the riders would be receiving Less. If konig was on £700,000, last year it would be €1 million, now it would be €823,529 (I don't know how much konig earns, figures are for ease of calculation)


Last edited by Nolte on Mon Jul 25, 2016 11:35 pm; edited 2 times in total
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Nolte



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PostPosted: Mon Jul 25, 2016 11:06 pm    Post subject: Reply with quote

ok looking at exchange rates, between 1 jan 2014 and today's date, the exchange rate has fluctuate between €1: £0. 853 (6th July 2016) and 0.6963 at 5th August 2015

The £24.42 million budget of team sky (including the other sponsors) on 6th July 2016 would be €28.6 million
at the 5th August 2015, the exchange rate would be £35million

at 31 Dec 2015, the exchange rate was €1:£0.734, this equates to €33.27million
at 31 Dec 2014, the exchange rate was €1:£0.7789, this equates to €31.35million
at 1st Jan 2014, the exchange rate was €1:£0.8282, this equates to €29.48million

of course all this ignores that the payments are made over time and not all at once, the central bank provide average exchange rates for the purpose of this calculation

if we use the average rates for 2013, 2014 and 2015
for 2013, the average rate was €1:£0.84926 and equates to €28.75 million
for 2014, the average rate was 0.80612 and equates to €30.3 million
for 2015, the average rate was 0.72585 and equates to €33.6 million
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Biosphere
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Joined: 08 Oct 2006
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Location: Der Schweiz

PostPosted: Tue Jul 26, 2016 9:17 pm    Post subject: Reply with quote

I'm sure evil Uncle Rupert has enough cash stored in enough jurisdictions to hedge any currency fluctuations. The Team Sky budget is anyway a small, small fraction of the Sky TV marketing budget.

A brief discussion of Uncle Oleg's finances. Seems his wage bill is not so different from Sky's

http://inrng.com/2016/07/the-finances-of-team-sky-2015/
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Nolte



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PostPosted: Tue Jul 26, 2016 9:56 pm    Post subject: Reply with quote

yes, interesting read on tinkoff

infterestesting also on what isn't included on tinkoffs
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Boogerd_Fan



Joined: 07 Oct 2006
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PostPosted: Tue Jul 26, 2016 10:21 pm    Post subject: Reply with quote

But how much of it is locked up in Sagan & Bertie?
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Nolte



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PostPosted: Tue Jul 26, 2016 10:52 pm    Post subject: Reply with quote

this article quotes 4 million euro for sagan

http://www.cyclingnews.com/news/t...agans-contract-after-poor-spring/

i have a feeling though can't find the link that the rest of the sagantourage is 1 million

and sky have this article on salaries, they quote contador (and froome) as roughly £3 million
http://www.skysports.com/cycling/...-and-the-rest-of-the-peloton-earn
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Biosphere
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PostPosted: Wed Jul 27, 2016 8:14 am    Post subject: Reply with quote

The clown speaks

http://www.cyclingnews.com/blogs/...efore-me-and-will-exist-after-me/

clown  clown  clown  clown  clown
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Nolte



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PostPosted: Tue Sep 20, 2016 9:27 pm    Post subject: Reply with quote

Inner ring has a new one up in ag2r

http://inrng.com/2016/09/the-finances-of-ag2r-la-mondiale/

Budget of over €14 million.

I do find these articles to be interesting reading
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Nolte



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Location: irlande

PostPosted: Sun Oct 30, 2016 5:03 pm    Post subject: Reply with quote

Something on lotto soudal's future
https://m.lecho.be/economie_polit...os_pour_ses_cyclistes.9823446.art
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Bartali



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Location: Bartalishire

PostPosted: Sun Oct 30, 2016 6:30 pm    Post subject: Reply with quote

Je ne ces pas


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