Quote: Jukesays "
Operating losses of over circa 700k, 500k,1.1million, 450k and 330k over the previous 5 years are based on depreciation of the stadium?
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Depreciation counts for around 65% of those looking at the accounts. In the past couple of years they've actually made profits before depreciation. Which means, all other things being equal (they never are) they weren't needing constant cash injections as depreciation is a loss on past cash spending rather than current.
Quote: Jukesays "
And because colman converted those losses into shares and "effectively owns them" because they owe him circa 22million its better than Leneghan/Danson owning Wigan and being owed 6m how?'"
Well for starters I've double checked (they're not my club so I'm not fully up to speed with them) - he's only partially converted them to shares, the balance of £11m is still owing but is convertible into shares at his discretion.
Lenagan could do the same if he doesn't want the money back, which I guess he probably doesn't given how far in he is. The difference, again putting Covid to one side as all owners will be sticking cash in right now, is that based on the last couple of years Saints were breaking even pretty much at a cash level so don't need extra money putting in, Wigan do. The long and short of it is that Colman has effectively given St Helens a stadium and doesn't appear to ever want his money back. They're no different to almost all other clubs in reliance on owners BUT their stadium and the club generally but, before 2020 at least, their stadium and operations were now seemingly throwing off enough cash to minimise future requirements for injections from the owners.