FORUMS > Hull FC > Offshore accounts |
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Jul 2005 | 19 years | |
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| Quote: Ian P "Are payments for "consultation" and other duties performed on behalf of the club are paid , just like players wages ? .'"
Yes. Point is this though. Even after taking these payments into account we still make a profit, which suggests to me, since we are the only club making a profit and spend the full cap (or thereabouts) that the directors aren't taking the pi$$. Even if they are, so what? Without them there wouldn't be a club and the path to the KC is hardly well-worn by multimillionaires who've supported the club since childhood and want to buy them out. It's their club and their tenure has probably been amongst the most commercially astute ones in the history of the club.
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International Chairman | 12768 | No Team Selected |
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Dec 2001 | 23 years | |
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663_1379281559.jpg [b:1g6itio7][color=#000000:1g6itio7]Take kindly the counsel of the years, gracefully surrendering the things of youth.
Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with imaginings.
Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself.; [/color:1g6itio7][/b:1g6itio7]:d7dc4b20b2c2dd7b76ac6eac29d5604e_663.jpg |
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| Quote: Mrs Barista "Yes. Point is this though. Even after taking these payments into account we still make a profit, which suggests to me, since we are the only club making a profit and spend the full cap (or thereabouts) that the directors aren't taking the pi$$. Even if they are, so what? Without them there wouldn't be a club and the path to the KC is hardly well-worn by multimillionaires who've supported the club since childhood and want to buy them out. It's their club and their tenure has probably been amongst the most commercially astute ones in the history of the club.'"
Thanks I was not having a pop, I know that this sort of thing has gone on in the past and may well do in the future. I do agree that the present management have done a good job in keeping the club not only afloat but in profit. My problem with them is that they have scant regard to the fans at times and in fact take decisions that are at odds with a lot of fans and they take offence when the fans kick back.
They have made some howlers in PR dept in recent years and have got away with many of them, but one day they will push it too far and thats when the whole lot will come tumbling down.
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Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
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Jul 2005 | 19 years | |
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| Quote: Ian P "Thanks I was not having a pop, I know that this sort of thing has gone on in the past and may well do in the future. I do agree that the present management have done a good job in keeping the club not only afloat but in profit. My problem with them is that they have scant regard to the fans at times and in fact take decisions that are at odds with a lot of fans and they take offence when the fans kick back.
They have made some howlers in PR dept in recent years and have got away with many of them, but one day they will push it too far and thats when the whole lot will come tumbling down.'"
That's your opinion but I'd counter with the fact that our gates are strong in the context of the competition and our merchandise operation is second to none - our supporters have shown excellent loyalty after a couple of poor years on the pitch. The point is that, whatever else the board have done the bottom line is that we're financially self-sustaining (one of the only clubs to be in this position, despite having creditors of £2.4m not too long ago) and income is up rather than down. I'm just not sure what this "pushing it too far" you talk about might be - do you have an example? Thackraygate and Cookegate were 2 and 3 years ago respectively. The Friday night thing caused a kerfuffle 2 years ago, but again, the bottom line is that gates and passholder numbers are up. The Reardon thing was stupid, admittedly. IMO the club and Rule do seem to have learnt a bit on the way. Just don't know what might cause the club to fold/"come tumbling down".
On a related point, I've read a couple of times that someone said on the radio on Friday that FC was worth £1.5m. Does anyone know who and what the context was? If that's the case, why don't we call up Nick Barmby? He's probably got that in his back pocket.
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Club Owner | 7735 | No Team Selected |
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Feb 2004 | 21 years | |
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Aug 2023 | May 2022 | LINK |
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icons42da_files/5978-4369Kanaryali17-msnicons.gif Nil......Zip.....Nothing....ZERO....0:icons42da_files/5978-4369Kanaryali17-msnicons.gif |
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| Quote: Mild Rover "Would you expect Hull to spend £2m or close to it, if that was the cap?'"
in an attempt to have longer term stability I would hope so. RL must be one of the few professions where wages have been reduced consistantly over the last 8 years.
Allowing clubs to reward loyalty whilst still being able to develop youth talent has been stiffled by a diminishing cap in recent years IMO.
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International Chairman | 12768 | No Team Selected |
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Dec 2001 | 23 years | |
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663_1379281559.jpg [b:1g6itio7][color=#000000:1g6itio7]Take kindly the counsel of the years, gracefully surrendering the things of youth.
Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with imaginings.
Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself.; [/color:1g6itio7][/b:1g6itio7]:d7dc4b20b2c2dd7b76ac6eac29d5604e_663.jpg |
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| Quote: Mrs Barista "That's your opinion but I'd counter with the fact that our gates are strong in the context of the competition and our merchandise operation is second to none - our supporters have shown excellent loyalty after a couple of poor years on the pitch. The point is that, whatever else the board have done the bottom line is that we're financially self-sustaining (one of the only clubs to be in this position, despite having creditors of £2.4m not too long ago) and income is up rather than down. I'm just not sure what this "pushing it too far" you talk about might be - do you have an example? Thackraygate and Cookegate were 2 and 3 years ago respectively. The Friday night thing caused a kerfuffle 2 years ago, but again, the bottom line is that gates and passholder numbers are up. The Reardon thing was stupid, admittedly. IMO the club and Rule do seem to have learnt a bit on the way. Just don't know what might cause the club to fold/"come tumbling down".
On a related point, I've read a couple of times that someone said on the radio on Friday that FC was worth £1.5m. Does anyone know who and what the context was? If that's the case, why don't we call up Nick Barmby? He's probably got that in his back pocket.
The financial squeeze will certainly start to bite come season pass buying period kicks in and with a growing army of une employed and everyone forced to look at everything twice, it could have an effect. The lack of on field success will eventually also have an effect as people with limited resources will either pick and choose matches or entertainment. I do not of more then a few fans getting a little fed up of the lack of silverware and a signing or two could sway that one way or the other.
Many fans are not happy with what they are watching on the pitch, five drives and a bad kick gets a bit boring after three seasons. I also think the KR factor has helped keep the gates bouyant and kept interest up since they joined us again.
I do not think the club will fold or anything its just that in my lifetime it has been a bit like our governments, boom and bust.
I would value FC at a lot more then £1.5......................... perhaps double that and then some
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Moderator | 12633 | |
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Jun 2007 | 17 years | |
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33809_1522680904.png 'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
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| Quote: Ian P "
I would value FC at a lot more then £1.5......................... perhaps double that and then some
How much profit have they made in each of the last few years? As a rule of thumb, and looking at it purely as a business, people want a return on their investment in 10-15 years.
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Player Coach | 15980 | No Team Selected |
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Jan 2006 | 19 years | |
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May 2016 | Jun 2015 | LINK |
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20348.jpg Cuddle Club Rules
1. You dont talk about Cuddle club
2. YOU DO NOT TALK ABOUT CUDDLE CLUB!!!!
PS3 tag = Robbo_4444:20348.jpg |
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| Quote: Mild Rover "How much profit have they made in each of the last few years? As a rule of thumb, and looking at it purely as a business, people want a return on their investment in 10-15 years.'"
As we are now debt free I'd be reasonably confident we have made quite a bit of profit over the last few years.
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Rank | Posts | Team |
Moderator | 12633 | |
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Jun 2007 | 17 years | |
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Sep 2024 | Sep 2024 | LINK |
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33809_1522680904.png 'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
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| Quote: Robbo4 "As we are now debt free I'd be reasonably confident we have made quite a bit of profit over the last few years.'"
Debt can be cleared by investment as well as profit though - don't know if that was the case here.
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International Chairman | 1468 | |
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Dec 2001 | 23 years | |
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Jan 1970 | Jun 2022 | LINK |
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| Even if I had the money I wouldn't invest in Hull FC from a money making POV. The returns are quite low & the inherited risks involved with investing in sporting clubs especially within a sport that turns over relatively small amounts just isn't worth it.
However from a fan point of view I would be happy to lose money (relative to other P/E) to ensure the club continues to exist no matter what & hopefully be able to bring success with the help of that money.
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Rank | Posts | Team |
Player Coach | 338 | No Team Selected |
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Aug 2005 | 19 years | |
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17398_1377773684.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_17398.jpg |
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| Quote: offical rumour monger "caths not from over seas?'"
No she's from the bottom of it
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Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
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Jul 2005 | 19 years | |
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| Quote: Ian P "The financial squeeze will certainly start to bite come season pass buying period kicks in and with a growing army of une employed and everyone forced to look at everything twice, it could have an effect. The lack of on field success will eventually also have an effect as people with limited resources will either pick and choose matches or entertainment. I do not of more then a few fans getting a little fed up of the lack of silverware and a signing or two could sway that one way or the other.
Many fans are not happy with what they are watching on the pitch, five drives and a bad kick gets a bit boring after three seasons. I also think the KR factor has helped keep the gates bouyant and kept interest up since they joined us again.
I do not think the club will fold or anything its just that in my lifetime it has been a bit like our governments, boom and bust.
I would value FC at a lot more then £1.5......................... perhaps double that and then some
Agree that gates/passholders may fall due to the general economic situation, but there's not a huge amount the club can do about that. Of course they could reduce ticket prices, but since the majority of supporters are passholders, I personally don't think a 5% reduction (£10) will be a tipping point for people renewing or not. Wouldn't like to predict what will happen TBH. I thought the worst last year after a 12th place finishand we sold more passes than ever - don't really get it.
£1.5m does seem about right on the face of it, but as mentioned people seldom invest in this sort of venture with a view to making money. We've averaged profits of £140k each year over the last 5 years and are only £100k off having positive net assets (having adjusted for player valuations).
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Player Coach | 44 | No Team Selected |
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Jan 2010 | 15 years | |
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Feb 2011 | Nov 2010 | LINK |
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48990_1268252025.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_48990.jpg |
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| Quote: Cory69 "If there was no cap then it would just turn into football, Clubs with money win everything...'"
And then go bust !!
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International Board Member | 1325 | No Team Selected |
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Apr 2002 | 22 years | |
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fonds blancs/Jessie.gif Challenge Cup Winners 2005
Grand Finalists 2006
Challenge Cup Finalists 2008:fonds blancs/Jessie.gif |
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| Quote: Mrs Barista " I thought the worst last year after a 12th place finishand we sold more passes than ever - don't really get it.
I do, people think things can only get better.
In answer to the OP I know a lot of overseas players have monies paid directly into accounts back home to satisfy financial commitments there. I may be looking at things way too simply but I would suspect that, if the RL were investigating salary cap breaches, they'd a) look at players' contracts and b) look at WHO money was paid TO rather than WHERE.
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Player Coach | 1782 | |
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| I used to have an offshore account.
I had to close it though - got fed up of drying the notes out in front of the fire.
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International Star | 2186 | No Team Selected |
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May 2010 | 14 years | |
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Jan 2011 | Jan 2011 | LINK |
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| Quote: Stanley Unwin "I used to have an offshore account.
I had to close it though - got fed up of drying the notes out in front of the fire.'"
Can hessle be classed as off shore??
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