Quote: Mrs Barista "Good post. The context as well is the profitability of other SL clubsLeeds 720,871
Warrington 159,514
Hull FC 77,141
Castleford 26,679
Salford -19,651
Wigan -40,715
Bradford -72,209
Wakefield -202,379
Rovers -297,828
Huddersfield -823,739
St Helens -861,810
Harlequins -1,936,804
Leeds apart, then, it's fair to say that SL clubs struggle to break even unless they get a cup win like Warrington. In all cases pretty much apart from ours there is a note in the accounts stating that a going concern basis for accounts preparation is only appropriate if the support of the directors continues, so directors are putting money into the clubs as opposed to taking it out. To me, it seems highly unlikely that FC's directors are all taking a salary of £100k each and yet FC can still return a profit - just doesn't stack up IMO.
When people refer to the club as a cash cow, what they actually mean is that the fans inputs mean the directors don't have to put their own money in, and that is a good thing, having a self-financing business model. However, what we are seeing now is a big gap in income for the club. If the directors are not minded to make up the shortfall, it's not hard to see that the obvious thing to do is cut the wage bill, and the biggest wage bill at the club is the players.'"
iirc,Leeds sold land and property to gain a profit last time?
