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FORUMS > Halifax Panthers > Anyone else worried about the Cap???
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I know i shouldnt be worried because Rhino is an experienced coach who knows the rules but this squad just seems too good to be true whilst staying under the cap

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Well, our net position is £14m in debt (albeit to our US parent company) and we're still a going concern. Staggering.

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Quote: littlerich "Well, our net position is £14m in debt (albeit to our US parent company) and we're still a going concern. Staggering.'"


As long as your US parent company states they will not withdraw their financial support indeed you can be classed as a going concern. I wonder who our club's creditors of £130k are? Seeing that the amount of debt is the same as last year they must be "nice" ( icon_smile.gif ) creditors who don't want their money (yet!) .... the directors perhaps? But the likes of Bubba would argue it's money we owe for the rent!

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We do indeed have an annual comfort letter which is requested by our auditors. I reckon the creditor is Hilda icon_smile.gif

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Quote: littlerich "We do indeed have an annual comfort letter which is requested by our auditors. I reckon the creditor is Hilda
Nice to see your "job security" hinges on a piece of A4 paper saying the 14 million is ok, dicky icon_smile.gif

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It's been like that for nine years. I love that piece of A4 paper!! (Actually, it's not A4 - the yanks use weird paper sizes)

Mind you, I'm very talented so I'm sure I'd walk into another job lickety split.

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