rl£3.5 millions at the moment, with £2 million to be repaid within a yearrl

Surprised there hasn't been a FC-KR ding-dong on this yet. Well, since the figures were made public anyway...

You cannot read anything into those debts. The directors have invested heavily in expenditure to basically haul the team from a Championship side up to being a competitive SL side, which has the potential to win trophies. They have said that they will personally underwrite the debts.

So unless the directors leave or decide enough is enough they are not in that much trouble. Although the rumours that they are offering half their first team squad to other clubs for nothing doesn't instill much confidence.

hudghill was quoted in the local paper saying he would review his financial imput at the end of the season, he has also called on local companies to help fund the club, which at the moment is very unlikely to happen due to cash being tight in all areas, also who is going to pump money into a club that is constantly losing money year on year?

It seems to bother others more than it does HKR board. Most clubs are in debt, its a fact of life, most businesses run on debt another fact of life, if its a manageable debt there isn't a problem. I am sure that the debt is something the club can cope with long term and plans will be in place to reduce it, after all the directors are under writing it so they will be striving to reduce it rather than become liable for it or lose their investment in the club.

yet they seem keen on offloading one of their highest earners in cooke, if it didn't bother them why would they be tring to offload him?

the club can't keep losing 400k+ a year (as it has every year in superleague) for ever, not unless you've secretly got a sheik or an oligarch picking up the tab.

and I don't see where the extra income is going to come from in the short term. Craven Park requires investment to be able to attract bigger crowds and I personally only see Rovers average growing 1/2,000 larger no matter what success ensures (based on historic crowds, and the presence of FC and Hull City)

extra income could be gained via corporate sales (which doesn't bring in the money it once did in the recession) and a better merchandise operation.

apart from that the only option is to let big earners leave, and replace them with youth...which I feel is the option Rovers are going to be forced to take.

The accounts lodged at Companies House simply state that the bulk of HKR's creditors are due to be repaid within 12 months. This amount will include amounts owed (on normal credit terms) to various suppliers, any money owed to the bank on the overdraft as well as anything due to the taxman for PAYE/NI, VAT & Corporation Tax. All of these will certainly need to be paid over the next 12 months. Money borrowed from the directors/shareholders will also be included in this amount, but the classification as being due in the next 12 months doesn't necessarily mean that the directors will expect to be repaid in this period.

You only need to look at what's happened at Watford FC to see that reliance on funding from the directors can quickly lead to a business finding itself on the verge of Administration. The Watford chairman lent a further £1m to the club at the start of December but a little more than 2 weeks later was demanding immediate repayment of the total amount of director's loan (about £5m).

I'm in no way suggesting that the HKR directors are about to pull the plug in the same way that happened to Watford, but if the bulk of the outstanding creditors at HKR are indeed the directors it's certainly something that shouldn't be ignored.

From what I understand, the directors at HKR are there for the long-haul and at the moment that has to be a good thing for the club.

As you well know, there are other reasons why Hull KR might want to release Cooke. Financial reasons not least admittedly, but there are plenty of others.

No they can't keep on losing that much every year, but it is still less than the average loss for SL clubs.

The board seem to be addressing the situation, much of which was brought about by having to offer longer term contracts of a higher value than they would have to offer now to attract players to a newly promoted club.

If Rovers can attract another 1000 or so and bring through a couple more youngsters when Cooke and Galea leave at the end of next season then they'll be pretty much on an even keel.

Because he ain't worth what we pay him.

Which is the most sensible approach to take, one which I think they are trying to do.

That gets a rarely-bestowed Adeybull award for a thoroughly sensible and accurate post.

I've not called off the accounts yet, but I presume they will have been prepared on a going concern basis reflecting formalised (and contractual) assurances from the directors/owners regarding ongoing financial support?

If you look at the accounts of a number of other SL clubs, you see pretty much the same situation - except in some cases the directors' loans are rather larger...

Cos he's crap would be my first thought tbh.

"Cougars" "Cougars"

"Donny" "Donny"

"Thunder" "Thunder"

"Vikings" "Vikings"

Not that anything regarding FINANCES has any connection whatsoever between those.

I would suggest that the above have already fallen off the knife edge and some are teetering big style.

It only takes the lightest touch!!!!

I remember HKR being in administration for a considerable time not that long ago.

Just be wary that's all