Re: Accounts : Thu Aug 29, 2024 11:45 am  

Its funny listening to some Town fans go on about how much of a mess our club is in, and there is no doubt looking at the accounts that it is a long way from being rosy, but you take a look at Town accounts and by the time the timelines line up they will likely have more debt than us but the simple difference is having a person who is willing to keep pumping money in to service that debt. Pretty much all sports clubs are built on foundations made of quick sand and for the most part it just takes one person to walk away to ruin a club.

TF posting some of the account details from other clubs just shows how fragile everything is and London normally ends up looking the worst and people still think having a club in London should be a big part of the RFL strategy yet those sets of accounts just help show a club in London at a decent level is just not sustainable.

Re: Accounts : Thu Aug 29, 2024 12:02 pm  

Yes, one of the conditions of SKY signing up was the inclusion of Paris and London in SL. Well, almost 30 years on and London are getting hammered with crowds less than 2k but the powers that be still seem obsessed with expansionism and including French teams even though their national team is as bad as it's ever been.

SKY'a involvement was supposed to transform Rugby League and spread the geographical compass, but ironically the advent of full time rugby has made the whole financial situation far worse and it doesn't bear thinking about what mess will be left if they do pull the rug, even though I have no sympathy with the SL clubs whatsoever.

If SKY would have left us alone I'm sure we'd still be playing at Thrum Hall and the sport as a whole would still be part time, finacially more stable and probably more entertaining to watch.

Re: Accounts : Thu Aug 29, 2024 1:02 pm  

Hull FC lost nearly £1 million in 2023 and had net liabilities of £2.8 million. Included in the balance sheet is £1.5 million "player valuations"s" valued on a player compensation value basis. Well I never! I didn't know they could do this. A junk asset imo. So if that's stripped out the net liabilities would be over £4 million, with the main creditors being trade creditors of £1.2 million (what on earth could that be? Rent?) and £2.8 million "other borrowings".

I must admit, I didn't think clubs would be so heavily in debt. Surely one of the main IMG criteria would be that clubs should be solvent, as creditors (even directors) can never be relied upon to not call in the debt.

Re: Accounts : Thu Aug 29, 2024 2:08 pm  

Tony Fax wrote:

Hull FC lost nearly £1 million in 2023 and had net liabilities of £2.8 million. Included in the balance sheet is £1.5 million "player valuations"s" valued on a player compensation value basis. Well I never! I didn't know they could do this. A junk asset imo. So if that's stripped out the net liabilities would be over £4 million, with the main creditors being trade creditors of £1.2 million (what on earth could that be? Rent?) and £2.8 million "other borrowings".

I must admit, I didn't think clubs would be so heavily in debt. Surely one of the main IMG criteria would be that clubs should be solvent, as creditors (even directors) can never be relied upon to not call in the debt.

Aye, but as I've said elsewhere, IMG are setting questions to suit the answers. Solvency would obviously be beyond IMG rigging a question.

Re: Accounts : Thu Aug 29, 2024 5:04 pm  

Hope I'm not boring you all digging up all the clubs' accounts.

Now it's the turn of Hull KR. Not much detail re the creditors breakdown because the accounts are abbreviated, but they lost over £360k in 2023 and had net liabilities of £5.4 million. As the 4 non blondes once sang ..... "What's going on?"

Re: Accounts : Thu Aug 29, 2024 5:20 pm  

Tony Fax wrote:

Hope I'm not boring you all digging up all the clubs' accounts.

Now it's the turn of Hull KR. Not much detail re the creditors breakdown because the accounts are abbreviated, but they lost over £360k in 2023 and had net liabilities of £5.4 million. As the 4 non blondes once sang ..... "What's going on?"

Keep going, it's very interesting.

Re: Accounts : Thu Aug 29, 2024 5:41 pm  

Not sure how to classify the accounts but under the outside info category it’s up there with the best of it, keep going.

Re: Accounts : Thu Aug 29, 2024 9:27 pm  

Tony Fax wrote:

Yes, one of the conditions of SKY signing up was the inclusion of Paris and London in SL. Well, almost 30 years on and London are getting hammered with crowds less than 2k but the powers that be still seem obsessed with expansionism and including French teams even though their national team is as bad as it's ever been.

SKY'a involvement was supposed to transform Rugby League and spread the geographical compass, but ironically the advent of full time rugby has made the whole financial situation far worse and it doesn't bear thinking about what mess will be left if they do pull the rug, even though I have no sympathy with the SL clubs whatsoever.

If SKY would have left us alone I'm sure we'd still be playing at Thrum Hall and the sport as a whole would still be part time, finacially more stable and probably more entertaining to watch.

Pretty sure that's not true (Sky have denied it) but it was what Lindsay wanted

Re: Accounts : Fri Aug 30, 2024 9:39 am  

Had a shock looking at Huddersfield's 2023 accounts filed today ..... they made a profit of £3.2 million !!!!!

But alas, don't get too excited. That profit includes a loan of £5.8 million written off from other related parties (we all know who that is) so it's really a £2.6 million loss. The loan write off improved the net liabilities to £15.7 million., with the amount owed to related parties (we know who that is) being £18 million - the only silverware to show for that "investment" is a league leaders trophy. What a waste of money.

Re: Accounts : Fri Aug 30, 2024 12:26 pm  

https://www.totalrl.com/castleford-tige ... g-process/ How low did IMG set the bar when Cas are close to being granted a grade A license.

https://www.totalrl.com/castleford-tige ... g-process/ How low did IMG set the bar when Cas are close to being granted a grade A license.