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Player Coach | 2143 | Hull KR |
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| Quote SRC="SRC"Widnes lost almost £1M in 2008 and posted a £1M profit in 2009 (despite losing 600 punters a match). The figures for 2009 were 'massaged' with the help of O'Connor to post a ridiculous profit. If you take his £2M input out of the equation, they made another £1M loss in 2009.
It'll probably fool the RFL though.'"
WoW thats the simplest way i've ever heard that explained to date. 
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Player Coach | 5870 | No Team Selected |
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Apr 2006 | 19 years | |
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| Quote SRC="SRC"Widnes lost almost £1M in 2008 and posted a £1M profit in 2009 (despite losing 600 punters a match). The figures for 2009 were 'massaged' with the help of O'Connor to post a ridiculous profit. If you take his £2M input out of the equation, they made another £1M loss in 2009.
It'll probably fool the RFL though.'"
The only reason Widnes Sport Ltd made a loss of £1Million was because of the considerable investment in the infrastructure of the club when SOC took over. They actually spent £1.2Million on this and paying off some of the old clubs debts. Perhaps the club may have made a slight profit if it wasn’t for the initial investment made. However, the club now has a top class SL infrastructure, which would put most current SL clubs to shame. So this was a canny, long term, investment.
Year two was a different story, with no further expenditure needed, other than the usual costs which come with running a rugby League club. It was a successful season and one where more sponsors were coming on board and such things as a new town centre shop being opened, and lottery schemes, &c, have been set up and grown.
I’m no accountant and, it seems you are clearly not either, but SOC simply putting £2Million into the accounts wouldn’t count as turnover anyway.
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Player Coach | 190 | No Team Selected |
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| at the end of the day, all logic can be removed as this is the RFL we are talking about. it wouldn't surprise me greatly if a Scottish franchise started and were granted access to the super league. I think the main problem with all this is that the people making the decisions all seem to have an agenda but don't seem to have much of a clue about anything.
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Player Coach | 2866 | Warrington Wolves |
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Apr 2010 | 15 years | |
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| Quote gazmeister_89="gazmeister_89"at the end of the day, all logic can be removed as this is the=#FF0000 RFL we are talking about. it wouldn't surprise me greatly if a Scottish franchise started and were granted access to the super league. I think the main problem with all this is that the people making the decisions all seem to have an agenda but don't seem to have much of a clue about anything.'"
Why do you think they move magic weekend to Edinburgh ?
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Player Coach | 2866 | Warrington Wolves |
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Apr 2010 | 15 years | |
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| Quote Pepe="Pepe"
I’m no accountant and, it seems you are clearly not either, =#FF0000but SOC simply putting £2Million into the accounts wouldn’t count as turnover anyway.'"
Correct, it will simply be added to the balance sheet as either a creditor (to be repaid later) or additional capital if it is actually "invetsed". Make me laugh when the media say "xxx RLFC have paid off £2m of debts". They have to get the money from somewhere and unless its a wealthy benefactor it is simply a case of moving the debt from one place to another.
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Player Coach | 2233 | No Team Selected |
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| Quote Pepe="Pepe"The only reason Widnes Sport Ltd made a loss of £1Million was because of the considerable investment in the infrastructure of the club when SOC took over. They actually spent £1.2Million on this and paying off some of the old clubs debts. Perhaps the club may have made a slight profit if it wasn’t for the initial investment made. However, the club now has a top class SL infrastructure, which would put most current SL clubs to shame. So this was a canny, long term, investment.
Year two was a different story, with no further expenditure needed, other than the usual costs which come with running a rugby League club. It was a successful season and one where more sponsors were coming on board and such things as a new town centre shop being opened, and lottery schemes, &c, have been set up and grown.
I’m no accountant and, it seems you are clearly not either, but SOC simply putting £2Million into the accounts wouldn’t count as turnover anyway.'"
I still don't understand how that stuff is going to equate to an increase in turnover which, in turn, equates to a £1million profit. You would have to sell a lot of lottery tickets. The accounts will be interesting reading and, as a say, should be used as a lesson to all RL clubs.
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Club Owner | 16281 | Warrington Wolves |
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| I remember not so long ago fans of every other club were telling us that we were going to be shafted when Simon Moran 'got bored' and 'asked for his money back'
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Player Coach | 5870 | No Team Selected |
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| Quote sally cinnamon="sally cinnamon"I remember not so long ago fans of every other club were telling us that we were going to be shafted when Simon Moran 'got bored' and 'asked for his money back''"
Is there a point to this post, or is it just something random you’ve come up with?
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Player Coach | 91 | Warrington Wolves |
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Aug 2010 | 15 years | |
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| Quote Pepe="Pepe"Is there a point to this post, or is it just something random you’ve come up with?'"
Not that you would understand apparently!
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Player Coach | 5870 | No Team Selected |
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| Quote Winchester Wire="Winchester Wire"Not that you would understand apparently!'"
Apparently.
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