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| Quote hula89="hula89"Ok so it isnt bank debt but debt to someone else isnt much better is it?'"
Yep. It's a lot better. And it was unavoidable as the banks stopped lending in 2008. The only way we got our ground built at all is because McManus has friends in high financial places who could lend us what was needed to complete the job.
If Saints achieve the target of 10,000 season tickets for next year (and already 8000 have been sold, as confirmed by the club today), then that is over £2 million in revenue before we have even started on the corporate events, takings from hospitality, away fans contributions, weddings, funerals, bar mitzvas, or sponsorship. At that rate it wouldn't take us very long in financial payback terms to break even with a brand new stadium that shouldn't - in theory anyway - take much maintenance.
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International Star | 399 | No Team Selected |
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Mar 2011 | 14 years | |
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| Quote SaintsFan="SaintsFan"Yep. It's a lot better. And it was unavoidable as the banks stopped lending in 2008. The only way we got our ground built at all is because McManus has friends in high financial places who could lend us what was needed to complete the job.
If Saints achieve the target of 10,000 season tickets for next year (and already 8000 have been sold, as confirmed by the club today), then that is over £2 million in revenue before we have even started on the corporate events, takings from hospitality, away fans contributions, weddings, funerals, bar mitzvas, or sponsorship. At that rate it wouldn't take us very long in financial payback terms to break even with a brand new stadium that shouldn't - in theory anyway - take much maintenance.'"
Take a look at the pictures of the stadium covered in Pigeon crap. That aint cheap to clean off, and even less so on cladding... So, there's maintenance costs. Then when people gob chud into the bogs, break bog seats, electricity, gas, water, tax, tax, tax, and more tax.... Ya dont see much out of that £2m once overheads and maintenance have been taken out of the pot.
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Player Coach | 2649 | No Team Selected |
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| FIOS
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| Quote justarugbyfan="justarugbyfan"I found it funny too. But because it's true.'"
I just love the quotes on here.
My all time favourite " everyone hates us and we don't care" followed by " we will do it the Wigan way".
Classics
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| Quote St pete="St pete"I just love the quotes on here.
My all time favourite " everyone hates us and we don't care" followed by " we will do it the Wigan way".
Classics'"
I struggle to understand why your club seem to want to shove a red V everywhere to remember how many times you lost the GF.
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| well you are a Wigan fan so dont worry ok?
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| Quote Gruntfuttock="Gruntfuttock"well you are a Wigan fan so dont worry ok?'"
Well you are a Saints fan so you're FIOS.
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| Quote justarugbyfan="justarugbyfan"I struggle to understand why your club seem to want to shove a red V everywhere to remember how many times you lost the GF.'"
As you love your classic quotes " you've got to be in them to win them"
.........must admit sometimes I wish we wasn't in them 
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International Chairman | 32375 | Wigan Warriors |
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| Quote SaintsFan="SaintsFan"Yep. It's a lot better. And it was unavoidable as the banks stopped lending in 2008. The only way we got our ground built at all is because McManus has friends in high financial places who could lend us what was needed to complete the job.
If Saints achieve the target of 10,000 season tickets for next year (and already 8000 have been sold, as confirmed by the club today), then that is over £2 million in revenue before we have even started on the corporate events, takings from hospitality, away fans contributions, weddings, funerals, bar mitzvas, or sponsorship. At that rate it wouldn't take us very long in financial payback terms to break even with a brand new stadium that shouldn't - in theory anyway - take much maintenance.'"
£2 million doesn't even pay the wages.
If you have borrowed £6 million at a "preferential rate" of say 5% which would be a fantastic deal in todays world that's £300K a year in interest payments alone. Don't forget that Saints last published accounts showed a £1.3 million loss and a liabilities of £3.6 million And all that is before the Widnes experience and tax man.
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