Cross Hills Cougar wrote:
Thanks t_c_o, you obviously know more about it. You say the £60k owed to creditors is probably owed to directors. But there has only ever been one director of Keighley Cougars (2010) Ltd according to Companies House i.e. Gary Fawcett. Also, the previous year's accounts showed £167,000 owed to creditors. Are you saying this was owed to Mr Fawcett and the reduction in the debt to about £60k meant that he took over £100,000 out of the club that year???
Yes my bad, you are right. Neil Cullen and Simon whatshisname from A1 are indeed non exec. They could be owed money nonetheless.
A reduction in debt to creditors is a good thing, regardless of who's money it is. Does it not show that money previously loaned has been paid back. A reduction in debt suggests an increased revenue? If all creditors are paid by the end of this financial year that could mean an extra £60-100k available for players next year. Im perhaps over simplifying it and indeed none of us actually know who the creditors are, but the amount owed is actually going in the right direction. We need a sustainable club and not someone who wants to check in a hundred grand every couple of years as we will inevitably go bust. Id take our situation over Bradfords any day, much lower crowd than Bulls but nowhere near as shambolic. I feel sorry for them to be honest, they are some sort of political football these days used by the RFL.
There are really strong rumours of a new league structure next year, this to be honest could benefit us. Promotion next year in a weakened league 1
