Re: How are our finances? : Fri Apr 13, 2012 12:59 pm  

Paul Youane wrote:

I guess you're trying to be clever by using the figure for Warrington Rugby League Football Club which is just part of Warrington Sports Holdings who actual operate the club.

Warrington Sports Holdings net worth in the last set of accounts was £12.3m or when assessed as a Group (eg including Warrington Rugby) it was £9.46m. So you was just a mere £12m out on your figures.

Saints finances will be exactly the same as a parent company will own the 999 year stadium lease and the worth will be identified as an asset for the parent company.

Not by much then?

Re: How are our finances? : Fri Apr 13, 2012 1:01 pm  

WIld Goose wrote:

For me as a supporter of Rugby League and a follower of Wigan, I thank God that Saints have their new stadium. Seeing Saints get attendances that are more in line with their standing as a top rugby league club can only be good for the game. Likewise, DW is a fantastic ground, especially when full and rented or not, it provides a superb arena for Wigan Saints matches. Both clubs would take big revenue hits if the other wasn't there and Rugby League would be a much poorer game.

I certainly envy Saints having their own ground and also the way the club made the transition from KR to LP without the strife Wigan had when Central Park had to go. Some of the financial transactions during that period and dodgy accounting practises dragged the Wigan name through the mud and in turn the name of Rugby League. When Ian Lenegan took over he was very blunt in stating that there would be an end to the shady dealings and that things would be run properly.

In Eamonn McManus and Ian Lenegan, the two top rugby league clubs have good direction and hopefully they will keep both clubs in good shape so that we can keep rugby leagues most valuable rivalry going for ever.

A sensible & fair-minded wi*aner? Whatever next?


(seriously, nice post )

Re: How are our finances? : Fri Apr 13, 2012 1:22 pm  

Rogues Gallery wrote:

Back on topic of Saints finances.
They have gone from having a nett worth of £2.859 million in 2007 to
minus £1.461million in 2010.

Aye but its liquidity / cash what matters - ask Bradford.

Net worth figures can be manipulated anyway.

Im sure with the stadium in place that the balace sheet will improve in the coming few years.

Re: How are our finances? : Fri Apr 13, 2012 1:37 pm  

Div wrote:

Aye but its liquidity / cash what matters - ask Bradford.

Net worth figures can be manipulated anyway.

Im sure with the stadium in place that the balace sheet will improve in the coming few years.

I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.

Re: How are our finances? : Fri Apr 13, 2012 1:49 pm  

Dux wrote: I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now. From here. http://companycheck.co.uk/company/00331905 Oh, and by the way it was saint at wire who brought nett worth into the discussion.

Dux wrote: I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now. From here. http://companycheck.co.uk/company/00331905 Oh, and by the way it was saint at wire who brought nett worth into the discussion.

Re: How are our finances? : Fri Apr 13, 2012 2:08 pm  

Dux wrote:

I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.

Whether it was KR as an asset or the cash collected from the sale, they'd count the same on the balance sheet (assuming it was accurately valued).
The negetive side of things will come from the long term liabilities in the form of the money borrowed from McManus's investors. If this debt is wiped off in exchange for shares, as is implied, that will put us into the black.

Re: How are our finances? : Fri Apr 13, 2012 2:16 pm  

WIld Goose wrote:

For me as a supporter of Rugby League and a follower of Wigan, I thank God that Saints have their new stadium. Seeing Saints get attendances that are more in line with their standing as a top rugby league club can only be good for the game. Likewise, DW is a fantastic ground, especially when full and rented or not, it provides a superb arena for Wigan Saints matches. Both clubs would take big revenue hits if the other wasn't there and Rugby League would be a much poorer game.

I certainly envy Saints having their own ground and also the way the club made the transition from KR to LP without the strife Wigan had when Central Park had to go. Some of the financial transactions during that period and dodgy accounting practises dragged the Wigan name through the mud and in turn the name of Rugby League. When Ian Lenegan took over he was very blunt in stating that there would be an end to the shady dealings and that things would be run properly.

In Eamonn McManus and Ian Lenegan, the two top rugby league clubs have good direction and hopefully they will keep both clubs in good shape so that we can keep rugby leagues most valuable rivalry going for ever.

Now thats the sort of post from a wiganer I have respect for.
Take a note troll,you know who you are.

Re: How are our finances? : Fri Apr 13, 2012 2:17 pm  

Offside Monkey wrote:

Whether it was KR as an asset or the cash collected from the sale, they'd count the same on the balance sheet (assuming it was accurately valued).

Unless the money from the sale had been paid out to contractors. Either way, it'll take a few years for things to be ship-shape, but you'd think we're on the right track now.

Re: How are our finances? : Fri Apr 13, 2012 2:48 pm  

Paul Youane wrote:

I guess you're trying to be clever by using the figure for Warrington Rugby League Football Club which is just part of Warrington Sports Holdings who actual operate the club.

Warrington Sports Holdings net worth in the last set of accounts was £12.3m or when assessed as a Group (eg including Warrington Rugby) it was £9.46m. So you was just a mere £12m out on your figures.

Saints finances will be exactly the same as a parent company will own the 999 year stadium lease and the worth will be identified as an asset for the parent company.

Im no expert but including Warrington rugby in the figures wiped £2.84m off the valuation of the company?

Re: How are our finances? : Fri Apr 13, 2012 3:00 pm  

Bill_Barlow wrote:

Im no expert but including Warrington rugby in the figures wiped £2.84m off the valuation of the company?

No flies on you!

Warrington Rugby Club took out the bank loan to pay for the fitting out of the stadium. The majority of the negative net worth of that entity is the outstanding debt on the loan so when these figures are consolidated into the Group's accounts (Warrington Sports Holdings) then its net value drops from £12m+ to £9m+.

Obviously the areas that have been fitted out in the stadium generates revenue that is reported through Warrington Sports Holdings accounts and has contributed to it reporting a profit in four out of its last five sets of accounts (all done without a single shareholders' meeting for Warrington Rugby Club as well; amazing hey?).