Quote BroncOnIon="BroncOnIon"You don't need to imagine. Broncos financial return (London Rugby League Limited) up to end November 2012 published last week, signed off by D. Hughes on Nov. 12, show total liabilities just over £13m, of which £12,294,283 is down to subordinated loans from Hughes (£10,202,076) and Lenegan (£2,092,097). Lenegan's loan dates from the setting up of Harlequins RL. DH's increased from £7,707,275 during 2012, an increase just short of £2.5 m. Loss for 2012 is £2,289,975.
Financial results for 2013 are surely even worse given our dwindling attendances, so DH would have needed to pump in probably about another £3m. this year to keep the operation afloat. Little wonder that he's had enough.'"
He agreed to bankroll a 3 year licence period application......he has carried out 2/3rds of this and the reason he is "wavering" is because the people he employed to run the club and the team have failed catastrophically....he was warned on multiple occasions that financial stability would be delivered through increased attendances yet he blindly ignored these warnings and has driven the club to the edge.
£3,000,000 a year of £30,000,000 a year...he stood in front of the fans and told us he was backing us for 3 more years......his failings and those of his key staff have resulted in us being flogging boys in 2014 at best......or a dead club at worst.
I still say that if we survive and somehow eventually own our own ground, then name a stand after the man, but make no mistake, he is more than partly responsible for this farce........
