FORUMS > Wigan Warriors > £600K loss last year! |
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[b:1wlcmlhe][color=#800000:1wlcmlhe]WIGAN RLFC - SL ERA
WORLD CLUB CHAMPIONS 2017 & 2024
SUPER LEAGUE CHAMPIONS 1998, 2010, 2013, 2016, 2018 & 2023
CHALLENGE CUP FINAL WINNERS 2002, 2011, 2013, 2022 & 2024
LEAGUE LEADERS CHAMPIONS 2010, 2012, 2020, 2023 & 2024
ACADEMY GRAND FINAL WINNERS 2008, 2009, 2010, 2011, 2013, 2014, 2015, 2017, 2018, 2019 & 2024
WOMEN’S GRAND FINAL WINNERS 2018
BEST SUPPORTED CLUB OF THE YEAR 2010, 2011, 2012 & 2024
CLUB OF THE YEAR 2010 & 2012
[/color:1wlcmlhe][/b:1wlcmlhe]: |
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| Noticed it mentioned the value of Orrell as £3.6m, isn't the rumour that we have sold the site for housing?
If so, that will sort out any losses short term anyway!
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3076_1671446335.jpg SAINTS THE ORIGINAL AND PERENNIAL CHEATS
For sale full Saints kit (circa 1989). Shirts in pristine condition, but shorts badly soiled.
For 27 - 0 you get a trophy
For 75 - 0 you get sod all.
Wigan had eight in a row
Saints have five in a row:d7dc4b20b2c2dd7b76ac6eac29d5604e_3076.jpg |
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| Quote: tangerine "and were does the acquiring of robin park come in all this?'"
What do you mean?
These are the 2016 accounts, the Robin Park acquisition, Orrell sale, hasn't been concluded as yet, to my knowledge.
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| Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.
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27_1469093054.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_27.jpg |
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| Quote: goobervision "Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.'"
Because somebody needs to fund the losses. Thankfully Lenagan is at the moment (to the tune of £5.9m) but in the medium and long term the club needs to be able to "wash it's own face" or it isn't sustainable - just remember what happened to us in 1999.
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26.jpg Last league derby at Central Park 5/9/1999: Wigan 28 St. Helens 20
Last league derby at Knowsley Road 2/4/2010: St. Helens 10 Wigan 18:26.jpg |
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| Quote: Lebron James "The really alarming thing is that this loss was posted during your super league winning season! It's evident that without IL you wouldn't be in business but this is no different to a lot of clubs. DaveO, if you look at the parent company accounts, the loan made to Wigan rugby club has come from IL personally as it has increased by the same amount as his directors loan in there. Lenagan investments owes IL 5.9m. Money he's never going to see again!
Regards
King James'"
Where do I see these accounts? I never know where to look. I don't think it's true he won't see [iall[/i of that money again. If he sold the club and its assets he'd expect at least £3.6m for Orrell. His loss would not be insubstantial at well over £1m but he's not going to be out £5.9m.
As an aside I think the money paid to lease the DW is an absolute bargain. It is dirt cheap considering the pitch relaying but even without it, it's nothing compared to the interest of a loan to build a stadium that cost £25m and it's running costs. Sure you might be able to make a profit on the ground if you owned it but it's hard work and not worth the hassle in my opinion.
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| Which sports clubs with high(ish) turnover DON'T owe large sums to owners/investors? Ideally the club would be self-sufficient but a lot of the investment has come from IL's own ideas and plans for expansion which will hopefully come to fruition in the near-mid future (e.g. Central Park, Orrell, Wigan TV, 2014 WCC venture in Aus paid for by us?, marquee players, setting up an office in London - I think that happened in the end?). Most other clubs aren't making investments anywhere near that level, the clubs posting profits and with lower debts will be investing on field only whereas IL wants Wigan to become a global brand. If he pulls the plug he will either take the debts with him as shares or a new owner will take them on, there's no way he'll just leave us up the creek.
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