Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:11 pm  

Certainly can't blame the club for not spending on transfers when we are still incurring huge losses.

People's memories are short and demanding thousands to be spent today will only sacrifice todays short term success for long term suffering.

eg Bradford..

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:13 pm  

bewareshadows wrote:

So the loss was £800k. But from the looks of the statement they are not expecting an improvement this year with the cladding and a drop in revenue.

It's a mixed bag and I guess everyone is hoping for a better year next year. Just goes to show the Grand Final maybe important as a show piece, but the league generates all the cash and so should not be devalued for the risk it brings to club finances.

I'd say we'd be looking at, and the club are probably hoping for, starting to turn profits in 2 or 3 seasons. Certainly whilst the outlay for the stadium is ongoing and the costs for setting up in house catering and services are still being covered we won't be turning any profits.

To be operating at around an £800k loss whilst still paying out on start up costs and losing substantial income from the Challeneg Cup and league placing I'd say it looks quite promising.

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:14 pm  

Rommel wrote:

Can some one explain this in plain englund?

The breaks have been applied on the losses, but at the same time we have started driving downhill. So we are improving but not as quickly as we would have done, if we had a decent run in league and cup.

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:16 pm  

Rommel wrote:

Can some one explain this in plain englund?

Basically the club expect continuing losses whilst initial outlays for the stadium are ongoing but these losses are decreasing in a strong positive trend. This has been compounded by loss of income from playing aspects in both cup and league competitions.

Once these initial payments are covered the club expects to be in a strong financial position.

The stadium is 100% owned by the club and is the best purpose built rugby league stadium in the country, certainly the best completely club owned stadium in England. The likes of which Wigan can only dream to one day own as a home.

That's about the jist of it.

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:20 pm  

bewareshadows wrote:

Certainly can't blame the club for not spending on transfers when we are still incurring huge losses.

People's memories are short and demanding thousands to be spent today will only sacrifice todays short term success for long term suffering.

eg Bradford..

+1

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:23 pm  

For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker

For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:26 pm  

Rogues Gallery wrote: For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker What's your point??????

Rogues Gallery wrote: For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker What's your point??????

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:29 pm  

Rogues Gallery wrote: For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker That that website has its figures wrong, our losses have reduced by 1.6 million, not are 1.6 million, nice try though old chap

Rogues Gallery wrote: For any accountants out there. What's the difference in the op and this? http://www.insidermedia.com/insider/nor ... ws_tracker That that website has its figures wrong, our losses have reduced by 1.6 million, not are 1.6 million, nice try though old chap

Re: ££££ Club Statement ££££ : Fri Sep 06, 2013 3:32 pm  

The group operating loss before interest, depreciation and amortisation for the year ended 31st October 2012 was £892,170