Re: Boston stand no more : Sat Oct 23, 2021 7:47 am  

Egg Chasing wrote:

Nobody will lend someone 5m in debt money that's obvious.

When that money is owed to the owner though it can very quickly become a debt of zero. Nobody will come knocking on the door demanding their money because we don't owe anybody any money.

We lose money like all sport clubs do, but I'd rather be in our position where the owner fills the gaps than having 5mill of creditors.

Obviously banks would steer clear but credit ratings are also important to suppliers and credit insurers who may pull their facilities which just compounds the cash crunch.

Re: Boston stand no more : Sat Oct 23, 2021 8:33 am  

The Ghost of '99 wrote:

Obviously banks would steer clear but credit ratings are also important to suppliers and credit insurers who may pull their facilities which just compounds the cash crunch.

Every single supplier or anybody else who charges us a fee gets their money on time.

We are basically chipping away at our savings account to go on holidays and buy luxuries rather than using credit cards.

Losses are a big worry of course they are, but knowing that we have zero debt (effectively) is a big plus.

Re: Boston stand no more : Sat Oct 23, 2021 10:17 pm  

Pieman wrote:

so we owe our owner money?....who doesnt? He clears all losses and adds it to the debt owed, so no one apart from him can call in anything, as he is the major shareholder in the company that owns us, prove me wrong, tell me what bank can call in our debt?

What are you on about? I made a statement about 10 pages ago stating that banks wouldn’t touch you for finance and all of a sudden I’ve got loads of armchair accountants who haven’t got a clue what they are talking about calling me out lol

As I said. Banks don’t care if the money is owed to your owner. You are still insolvent and that’s all the banks care about but carry on denying it all you want. It’s a fact

Re: Boston stand no more : Sat Oct 23, 2021 11:41 pm  

TheWarringtonWolve69 wrote:

What are you on about? I made a statement about 10 pages ago stating that banks wouldn’t touch you for finance and all of a sudden I’ve got loads of armchair accountants who haven’t got a clue what they are talking about calling me out lol

As I said. Banks don’t care if the money is owed to your owner. You are still insolvent and that’s all the banks care about but carry on denying it all you want. It’s a fact

And when a bank is interested in buying us, that would be relevant. However, anyone buying a sports club would not be using bank loans to fund it so what's your point exactly and how does this impact on someone buying the club?

Re: Boston stand no more : Sun Oct 24, 2021 5:50 am  

TheWarringtonWolve69 wrote:

What are you on about? I made a statement about 10 pages ago stating that banks wouldn’t touch you for finance and all of a sudden I’ve got loads of armchair accountants who haven’t got a clue what they are talking about calling me out lol

As I said. Banks don’t care if the money is owed to your owner. You are still insolvent and that’s all the banks care about but carry on denying it all you want. It’s a fact

im replying to you 2 pages ago you clown as you know......

Re: Boston stand no more : Sun Oct 24, 2021 7:51 am  

Egg Chasing wrote:

If we want to wipe that debt tomorrow then we can. Why? Because it's owed to our owner. "In laymans terms" the bank won't be calling it in.

Now how about the losses Saints are making and their debts?

Which of course, they will have for a transditional period following the building of their own stadium, but Wigan have debts and financial problems without having any ownership or running of their own stadium.

Does not seem to bother St Helens with the way they still managed to sign to class players each season like they have done for next season.

Wigan, on the other hand???

Re: Boston stand no more : Sun Oct 24, 2021 9:56 am  

Ruddy Duck wrote:

Which of course, they will have for a transditional period following the building of their own stadium, but Wigan have debts and financial problems without having any ownership or running of their own stadium.

Does not seem to bother St Helens with the way they still managed to sign to class players each season like they have done for next season.

Wigan, on the other hand???

Difference is Saints have 7 Directors ranging from companies, antique dealers and property developers.

Re: Boston stand no more : Sun Oct 24, 2021 10:44 am  

[quote="Ruddy Duck"]

So saints are losing money (Sure Rogues will provide details but over the tenure of IL's ownership haven't Saints lost more per year than Wigan ?). And I'd also like a little wager that the figures forbthe last 5/6 years or so when the real belly aching about IL/KR started I'd bet our yearly losses weren't too different to Saints?

Saints may very well own their stadium, but that isn't always the be all and end all to success people think.

If they sold the stadium today for its value on the balance sheet (is it 30million? And it will be depreciating ) And they owe Coleman etc 18million ??? And then what?

As per the other thread
The only way things get better for Wigan is if more people (largely the ones who do the most moaning) get off their backside and spend their money
That won't happen whilst the people who are supoosed to be supporting the club constantly run it down at every opportunity.

Re: Boston stand no more : Sun Oct 24, 2021 1:25 pm  

I've just had a look at the financials of Wigan and Saints since they moved into their new stadium in 2012.

Saints operating losses in that time are £8.352 million. Wigans in that same period are £3.751 million.

To be fair to Saints £3.56 million of those losses occurred in the first two seasons at Langtree when they had to do the refit of the cladding.

Re: Boston stand no more : Sun Oct 24, 2021 1:57 pm  

Rogues Gallery wrote:

I've just had a look at the financials of Wigan and Saints since they moved into their new stadium in 2012.

Saints operating losses in that time are £8.352 million. Wigans in that same period are £3.751 million.

To be fair to Saints £3.56 million of those losses occurred in the first two seasons at Langtree when they had to do the refit of the cladding.

How much of Saints' losses relate to depreciation? They have in recent years tended towards breaking even at EBITDA level.