Club Statement : Mon Aug 18, 2014 10:22 am  

Positive report on the financial side of things.

Positive report on the financial side of things.

Re: Club Statement : Mon Aug 18, 2014 10:29 am  

I read the statement and all looks rosey BUT:

Who do we owe the millions too for the stadium? Can't have been paid off.

Re: Club Statement : Mon Aug 18, 2014 10:45 am  

Rommel wrote:

I read the statement and all looks rosey BUT:

Who do we owe the millions too for the stadium? Can't have been paid off.

The stadium was funded by Directors Loans from what I recall of the situation.

I am sure that when Eamonn & co look to sell the club (along with its biggest asset), they should make a decent return on their investments/loans.

Re: Club Statement : Mon Aug 18, 2014 11:08 am  

EHW wrote:

The stadium was funded by Directors Loans from what I recall of the situation.

I am sure that when Eamonn & co look to sell the club (along with its biggest asset), they should make a decent return on their investments/loans.

Our Directors must have deep pockets then

Re: Club Statement : Mon Aug 18, 2014 11:27 am  

Rommel wrote:

Our Directors must have deep pockets then

I think Eamonn is pretty well sorted, but Michael Coleman seems to be the one who has the deepest pockets. He is a fund manager, managing over $1bn.

Re: Club Statement : Mon Aug 18, 2014 12:38 pm  

EHW wrote:

I think Eamonn is pretty well sorted, but Michael Coleman seems to be the one who has the deepest pockets. He is a fund manager, managing over $1bn.

I was an account manager for a multi-national company, doesn't say I was/am minted.

I think the statement is probably a sweetener prior to the 2013 accounts being published (Leeds and Wire have filed theirs)

Re: Club Statement : Mon Aug 18, 2014 1:14 pm  

Rogues Gallery wrote:

I was an account manager for a multi-national company, doesn't say I was/am minted.

I think the statement is probably a sweetener prior to the 2013 accounts being published (Leeds and Wire have filed theirs)

The difference between you and Coleman is that he actually owns his own company. I assume you didn't. The guy is minted.

When do Wigan publish their accounts? I am looking forward to seeing the fixed assets section on the Balance Sheet!!!

Re: Club Statement : Mon Aug 18, 2014 1:16 pm  

Possibly especially as we spent a fortune on cladding our own stadium last year. The fact despite what losses are posted this year, were on target to break even & start making profits in the near future is a fantastic bonus for our club.

Re: Club Statement : Mon Aug 18, 2014 1:23 pm  

saint87 wrote:

When do Wigan publish their accounts? I am looking forward to seeing the fixed assets section on the Balance Sheet!!!

It won't take you long to read it.

Re: Club Statement : Mon Aug 18, 2014 2:52 pm  

Losses in 2013 are irrelevant if the forward projections are improving.

As for the money to build the stadium, from my understanding it was mostly converted into share capital and/or directors loans.

Any break even or profits will be after the interest is repaid on those loans. So therefore built into the profits and losses.

There are a couple of companies that will not make profits this year, but their share price will increase when the losses are published due to the market seeing the bigger picture financially.

Clubs like Saints have no share price as such and so only the clubs statement can be seen as a reflection of this