I've said this on the Wigan board, and I'll say it here - sporting teams are almost without exception dreadful investments. The owners may hope to make profits, but realistically almost every team you look at will probably be continually subsidised by the owners. The issue isn't so much if/when Sts ever make a profit, as whether the levels of losses are sustainable - i.e. whether the owners are willing/able to continue to put more money into the club. I would be willing to bet money that not one owner of any SL side seriously expects to make consistent profits from owning a team.
Sometimes people ought to take that last point on board when criticising the owners of clubs - they are quite literally putting their money where their mouth is (although there can be tax benefits depending on the consolidation of profits and losses from all sources apart from the club itself).
The same is true in the NRL - IIRC the Broncos are one of only two sides to regularly make a profit. The difference financially is that most clubs (especially in NSW) are supported by their leagues clubs, which in turn are generally 'non-profit' organisations who make most of their money from pubs, and particularly poker machines (hence the outcry here over the aim to make it more difficult for problem gamblers to p*ss their lives away).
