I'm no financial expert, only the club and there creditors know the borrowing power of the club, if it were indeed the case that the reason why cas were financially stable and widnes were not, i would simply say that it just goes to show that there are up sides and downsides to having the council build you a shiny new stadium.

You're right, I have not told the entire story.

Working Capital

2005 -976,122

2006 -1,156,639 -18.5 %

2007-1,344,142 -16.2 %

I don't think a deficit £1.3 million from normal trading activities going into potentially 4 years of National League rugby would have won many friends at the bank or investors. It suggests they were losing money hand over fist. It doesn't mean they would have gone bust, but at best it puts them in the 'the accountant is very worried' catagory.

Going into the 2007 National League season, Cas had a net worth of minus £410k, almost £160k more than the year before. They also had over £2.5 million of liabilites and trade creditors (folk they owe money to), yet only £1.07 million in assets. Ouch.

Thankfully for Cas, and I quite like clubs like Cas don't get me wrong, they won promotion. Then, with pretty much 4 years gauranteed SL income in the bag, plus their revaluation reserve increasing to £1.6 million, their net worth increased to £1m giving them the medium term finacial stability many other clubs can only dream of.

You can probably tell that the cricket has got off to a slow start and I've little else to do this morning but it shows Durham Giant was spot on when he said Cas were gambling that season, whilst TB has already said what he would have thought of his Board had it failed.

Only down sides if you are Leigh , moving to the LSV could be the worst decision we ever make , and could potentially be the end of the club as a force in semi pro RL

All kinds of circumstanes affect this , Widnes had them , Cas have them

That's just it though i dont want weak fledgling new franchises with no financial backing or sound business plan being put into super league. Ive been saying that since day 1, before any of these so predictable financial problems came to light.

Why should i be bitter about Widnes

i am only interested in RL and that means i want CELTIC to succeed. the success of the game needs expansion and a realistic level of international competiton. Celtic are a small part of that
that is far more important tham some poxy chemical polluted town in Cheshire. dodgy windswept cities on the North Sea, or decaying Mill towns in the Pennines.

get your head out of your Harris and look at the big picture

Debt as Working Capital? I have not used the word debt. Anyway, it is from www.creditsafeuk.com/ You need to subscribe though.

Debt as Working Capital? I have not used the word debt. Anyway, it is from www.creditsafeuk.com/ You need to subscribe though.

You can have negative working capital. The liabilities are greater than the assets. I'm guessing he's got the figures from Companies House for a quid.

Yasmina was shocked too

I can PDF them and email them to you if you prefer.

In fairness to Cas, they are not alone; there are some pretty dismal figures out there.