The £2 million I believe (not 100% certain) was Lenegans final purchase payment to Whelan.
At the last shareholders meeting (yes we do have them) IL stated that the club would make a profit in 2011, but was PLANNING a loss for 2012 mainly due to the investment into Central Park and South Wales.

And don't you think that a £578k turn round was pretty good going?

And back on track wasn't Saints last net worth valuation negative to the tune of £1.461 million?

And just for comparison Warringtons last net worth valuation was negative to the tune of £2.248 million.

You're particularly hung up about this issue. There is no requirement to hold AGMs. If Wigan choose to do something there is no requirement to do, great. If Saints choose not to, as a shareholder I get the accounts and if I wanted to take steps to requisition a meeting, I would do so. Same applies to all shareholders.

As it happens, I don't and I'm sure the board have a zillion and one things to do that take priority at the moment. Perhaps if IL had a stadium of his own to run, he'd have other priorities too?

I just think it's common courtesy that allows that shareholders to ask questions. I've never known Wigan not to have shareholder meetings.

Why can't I ask questions? I could ask a question now if I wanted to, why do I have to do it in a room?

The Companies Act removed the requirement for private companies for good reason - in most instances it's an utter waste of time.

If IL wants to convene a pat on the back meeting every year of his own volition, crack on. But don't pretend it's somehow the better or courteous way, because frankly I'd rather EM spent his time running the club than preparing for a meeting full of people with one share in the club asking inane and irrelevant questions and thinking that they should have a bigger say than they're entitled to.

Wigan have always had them as far as I can remember, it isn't just a thing IL has brought in, even in the days at Central Park.

Well they are clearly no use to anyone, given that you left Central Park bankrupt after irresponsibly spending to buy your history.

They used to be required by law, now they're not. so actually, having voluntary AGMs IS an IL thing.

Back on topic of Saints finances.
They have gone from having a nett worth of £2.859 million in 2007 to
minus £1.461million in 2010.

Hardly surprising given the losses over that period. A nice shiny stadium asset on the balance sheet will be nice for the 2012 numbers though

I guess you're trying to be clever by using the figure for Warrington Rugby League Football Club which is just part of Warrington Sports Holdings who actual operate the club.

Warrington Sports Holdings net worth in the last set of accounts was £12.3m or when assessed as a Group (eg including Warrington Rugby) it was £9.46m. So you was just a mere £12m out on your figures.

Saints finances will be exactly the same as a parent company will own the 999 year stadium lease and the worth will be identified as an asset for the parent company.

Not by much then?

A sensible & fair-minded wi*aner? Whatever next?


(seriously, nice post )

Aye but its liquidity / cash what matters - ask Bradford.

Net worth figures can be manipulated anyway.

Im sure with the stadium in place that the balace sheet will improve in the coming few years.

I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.

Quote: Dux "I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.'" From here. companycheck.co.uk/company/00331905 Oh, and by the way it was saint at wire who brought nett worth into the discussion.

Quote: Dux "I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.'" From here. companycheck.co.uk/company/00331905 Oh, and by the way it was saint at wire who brought nett worth into the discussion.