We'll be okay.

Those lovely lads from Wakie will do a walk for us.

Why? It's far too simplistic to just take that figure into account. Of course no business can operate losing money forever but I wouldn't worry too much. Besides what's to say that Ken Davy being behind the club is the reason they went out spending money in an effort to ensure the long term viability of the club. For example that free match against the Catalans. That would have cost a fortune but it had the desired effect right? They sold more 2009 season tickets didn't they?

The clubs finances are fluid and they have some impressive fixed asset. i would suggest they are in a healthier position than a lot of clubs.

All the figures I have checked out so far in that table are valid.

You CAN get Leeds figures. Go search for company no 00028301. They made £1.25m, but that is a bit misleading, cos that was after a £1.47m profit relating to the sale of the cricket ground so they actually made a loss without that - attributed to repairs on the South Stand.

Warrington overall actually lost £55k more than the figure quoted - if you do a pro-forma consolidation of the (technically insolvent) rugby club and its well-endowed (cos of stadium) parent.

Wakefield are still overdue with filing their accounts (maybe their auditors are chewing over the going concern question...?)

WILL WHOEVER EDITED MY POST PLEASE DESIST OR I WILL COMPLAIN TO SITE ADMIN

If any of you guys are interested (some will already be aware, I presume):

1. Huddersfield Giants (the club) - the reported loss is correct, and the balance sheet shows a massive net liabilities position of well over £5m. That is a bad case of technically insolvent, and the accounts have been prepared on a Going Concern basis because Ken Davy has pledged his ongoing financial support. It is, incidentally, the old Sheffield Eagles company.

2. The club is owned by Huddersfield Sporting Pride Ltd (in turn controlled by Ken Davy), That company, as an entity, has a balance sheet with net assets of just over £1m, and as an entity it breaks even. This is the original Huddersfield Rugby League company which bought the Sheffield Eagles company.

Add 1 & 2 together (group accounts are not prepared) and you still have a massive loss and a massive net liabilities situation.

3. HOWEVER, Huddersfield Sporting Pride Ltd ALSO owns 60% (and so it is also a subsidiary) of Kirklees Stadium Development Ltd - the stadium company. THAT company made about £1/3m and has net assets of nearly £11m.

If group accounts were prepared (and I've not bothered getting the stadium accounts so I am assuming there is nothing daft in there) then you'd have a big loss still but a solvent balance sheet with half-decent net assets. Unless there were any big consolidation adjustments.

But the rugby club in isolation - financial position dire. If Ken Davy suddenly found it necessary to stop supporting the club financially, and no-one else stepped in with maybe £6m or more, then things would go very bad very quickly. But that is not news to anyone, is it, since Davy's support (and its implications) is fully understood by pretty well everyone, and no-one expects him to walk away anytime soon? But what will happen when he finally wants to call it a day?

Yes, all very interesting, but whats your point?

My point? Some folk suggested the reported figures were the product of someone's imagination - they are not. You yourself appeared to be one of them. And I am merely providing information (and some limited interpretation) on the financial position for anyone who is interested. I did similar at Leeds and Wire as well as Bulls, and we saw various people who derided anything they either did not understand or did not like, but various others who said they found the info interesting or helpful. I review the accounts anyway, so it costs only a few mins of my time to put up some info on here. I am happy to add further info if anyone is at all interested.

My suspicion is that most Hudds fans will be a bit shocked at just how big the losses are, and by extension just how much Davy is having to bankroll the club by. The dependence on a rich owner for staying in business has to be a big future exposure for any such club. You are almost certainly safer than some, cos Davy is both a huge fan and a man of very considerable means. The wealthy backers of some other clubs - notably Hull KR - are getting cold feet it seems.

But these are the 2008 accounts, and you guys had a fantastic 2009 so I would surely expect a dramatic improvement in the numbers.

I will admit SOME partisan motive, in that I get hacked off with armchair experts assuring everyone that the Bulls are skint and in huge debt (or whatever) when neither are actually true. Comparisons like the Guy from HKR did help to put things in some perspective. But what worries me more is that - as Peter Hood said recently - the game as a whole is built on foundations of sand. Based on that worrying (and pre-worst of recession!) table of losses, he may have a point.

Huddersfield fans who attended the relevant meetings are fully aware of the situation and also of KD's plan in terms of the long term sustainability of the club when Ken has gone. His plan may work, it may not. In the meantime we are very fortunate and I'm sure all Huddersfield fans hope his theory bears fruit.

In the meantime, whilst KD is around, we're going to be around with him.

We are lucky. We know this. We don't need to be told. Those less fortunate should spend their time looking for their own KD rather than p*ss and whine about how we have ours.

I know these numbers are probably better this last season due to the play-offs and challenge cup final, but we can't rely on those achievements every season and I bet not even that balanced the books.

If the plan is for the club to be able to be sustainable once Ken has left then it would appear there is still a lot of work to do.

Adeybull - whilst I accept your statements are accurate you are looking at them through the only window you can. They do not show the full picture going on at the club.

As Danril pointed out - those of us that attend the forum meetings, have conversations with Directors and have a general interest in the day-to-day running of the club know these final figures form part of the picture. Ken Davy has gone on record saying that he sells a property a year to finance the club and that will continue until it can finance itself.

Yes - without him we would be insolvent but if he had never come along there would be no Huddersfield Giants at all to start with.

Ken Davy has dragged this club from nothing to where it is today and each and every fan knows and respects that.

Did'nt the Giants fund part of the Zone complex early 2008 along with HTFC

And they had to pay Jon Sharp out just shy of 3 years worth of contract money

He was on a rolling deal wasn't he?

yes.

Signed a contract extension in March 2008

rlBBCrl



Not 3 years mate.