| FORUMS > The Virtual Terrace > Super League clubs only £68.5 million in debt : a BBC investigation finds |
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"I know guys that pay £25 for a facial up north"
"If that season review DVD was an A-level entry, it'd fail":15996.jpg |
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Not "Mr. Rugby League's" finest 10 minutes there. Scaremongering over nothing we didn't already know, based one just one expert. Poor. He was got better results with his flirting over Gabby Logan than whatever he wanted to achieve here.
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| Quote: MjM "That was spectacularly clueless. Off the top of my head we know that Saints and London and Huddersfield have relied on millions of funding from directors via loans but in no way does that present a present threat to the financial viability of any of those clubs. The directors are rich enough to fund it and don't want repayment. Even at Hull KR they viewed it as a sort of fact of life.
This isn't to say that, as with Bradford and Salford, things could go wrong - but those clubs did not have backers of the size involved elsewhere in the league. Hull KR and Cas are probably (at present) most similar. But the vast majority of this £69m debt is not debt that anyone expects to ever have to pay - therefore it is not a problem for anyone. That piece was just financially illiterate without placing any overall context on who the debts were owed to or for what purpose they had been incurred.'"
Completely agree. The debt figure wasn't put into any kind of context. Very sloppy piece. |
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Very poor, i hope that alledged "finacial expert" is embarrassed to be involved with it
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| Quote: Saint Simon "Very poor, i hope that alledged "finacial expert" is embarrassed to be involved with it'"
On the contary, he seemed to thrive on his 10 mins of fame. |
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Cheers George mate, keep banging that drum for TGG.
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| Quote: J O N N Y "Cheers George mate, keep banging that drum for TGG.'"
Wonder if he will get any freebies from Twickers H.Q?  |
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Do you think if I email r.j.wilson@shu.ac.uk "financial expert" he will provide me with the data he used to form his sensationalist headline? |
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Do you think if I email r.j.wilson@shu.ac.uk "financial expert" he will provide me with the data he used to form his sensationalist headline? | |
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Quote: TrentBarrett "Do you think if I email
I was thinking the same thing - a desperately ill-informed piece of scaremongering, completely missing any context or meaning behind the big scary numbers.
Poor show by all concerned; I'd suggest @georgeyboy stick to reading out the scores on 5 Live - investigative journalism is clearly not one of his strengths. |
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Quote: TrentBarrett "Do you think if I email
I was thinking the same thing - a desperately ill-informed piece of scaremongering, completely missing any context or meaning behind the big scary numbers.
Poor show by all concerned; I'd suggest @georgeyboy stick to reading out the scores on 5 Live - investigative journalism is clearly not one of his strengths. | |
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Success is not final; failure is not fatal: it is the courage to continue that counts. (Winston Churchill):d7dc4b20b2c2dd7b76ac6eac29d5604e_40218.jpg |
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| Quote: NtW "I'm not fully up to speed on Saints' specific situation, but I would be surprised if the Directors have bank rolled this, and expect these are external loans - though I thought Tesco were involved, and paying for a large portion/funding was coming from sale of KR, so maybe Saints aren't carrying any debt re the new stadium? I'm pretty sure Warrington aren't, as Tesco paid for our ground ![]()
Tesco didn't help to fund Langtree Park at all but I am quite sure the company contributed towards the cost of the site cleansing and the archeological/other scientific stuff that had to be done before building work could start, just as I'm sure Saints contributed, although the primary funders for that element of the work were the now defunct NWDA plus St Helens Council. The Council also landscaped the site and paid for the bridge linking the site to the town centre plus the lighting and pathway construction. Tesco paid for Tesco to be built; Saints paid for Langtree Park to be built - in part from the sale of Knowsley Road, perhaps with unknown investments also but definitely with the assistance of director loans. One loan alone was £3 million, but that was to pay for all the fit out. I think Saints ran out of money at the end! I get the impression the stadium turned out to be more expensive than it was scheduled to be.
Without Tesco, it is unlikely Saints could have built the stadium but the opposite also applies. Without both those developments taking place, it would not have been financially possible for the site to have been developed as the Council could not have justified the outlay and the NWDA would not have been attracted to the project.
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Success is not final; failure is not fatal: it is the courage to continue that counts. (Winston Churchill):d7dc4b20b2c2dd7b76ac6eac29d5604e_40218.jpg |
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Meanwhile, the Inside Out programme was just a cheap shot by the BBC. I have no idea why they did it. I think journalists should hold the RFL and clubs to account but to do what they did on the launch day just came across as a tad vindictive. And the item itself wasn't up to much anyway. However, mud sticks. The Gruniad online has already picked up on it.
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JOHNNY WHITELEY - A TRUE RUGBY LEAGUE LEGEND:d7dc4b20b2c2dd7b76ac6eac29d5604e_28490.jpg |
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Quote: TrentBarrett "Do you think if I email
He won't be able to. He's lost the cig packet they were written on. |
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Quote: TrentBarrett "Do you think if I email
He won't be able to. He's lost the cig packet they were written on. | |
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[url:17krqm04]http://www.warringtonrugbyheritage.com[/url:17krqm04]
Dedicated to preserving the history of rugby league in Warrington:d7dc4b20b2c2dd7b76ac6eac29d5604e_68425.jpg |
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| Quote: The Chair Maker "The links below may shed some light on the financial status of some of our clubs
That should come with a health warning really...
A word of warning to anyone using this information - be extremely careful what conclusions you draw. This is pulled from publically available information, and as with all privately owned sports clubs, the legal structures behind the clubs is likely to be complicated, and you are not seeing the full picture here.
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Deus Dat Incrementum:d7dc4b20b2c2dd7b76ac6eac29d5604e_50409.jpg |
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To echo the sentiments of others here, that was a disgraceful piece of television, what a pretentious so and so Riley really is. Dare I say the BBC is a bit miffed at the RFL using ITV for their advertising campaign?
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[url:17krqm04]http://www.warringtonrugbyheritage.com[/url:17krqm04]
Dedicated to preserving the history of rugby league in Warrington:d7dc4b20b2c2dd7b76ac6eac29d5604e_68425.jpg |
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Couldn't agree more with the sentiments above. It seems to me they BBC have thought - hmm, RL clubs seem in a sticky spot (after Bradford & Salford), George, you're our RL man, go do a piece on it. Then he, and some other financially clueless bods have tried to pull a piece together, found a self-styled academic 'expert' (who is listed on Hallam's website under their media contacts section), who has given them some headline grabbing strapline. No self-respecting professional would have spouted the that he did; it was ill-advised, ill-informed, ill-intended.
I don't subscribe to the usual paranoia about RL's media coverage, and the same applies here - I just think this is out-and-out poor reporting of the worst kind.
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