| FORUMS > Hull FC > So you want Agar out? why? |
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| Quote: east hull FC fan "His point was that the profit has paid the directors off? I think. Which is why I said they wouldn't reduce their personal asset with money they are owed anyway as profit. At least it would seem silly to me.'"
As it stands though the valuation of the business from a strict accounting net worth perspective is next to nothing. Adjusting for the player valutions, the business actually has net liabilities of around £100k (although this is far stronger than in 2004 when the net liabilities were £1.2m). If they wanted to sell, the asking price is determined by the directors as they are the shareholders, but would include things like the future earnings potential of the club, which is obviously entirely subjective, especially given falling attendances which should be a big concern. Kath etc would know, though, that it's most likely that any interested party would pay a premium as they are likely to be a fan. The situation at present with non club fans on the board is pretty unique in SL. |
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| Quote: Mrs Barista "As it stands though the valuation of the business from a strict accounting net worth perspective is next to nothing. Adjusting for the player valutions, the business actually has net liabilities of around £100k (although this is far stronger than in 2004 when the net liabilities were £1.2m). If they wanted to sell, the asking price is determined by the directors as they are the shareholders, but would include things like the future earnings potential of the club, which is obviously entirely subjective, especially given falling attendances which should be a big concern. Kath etc would know, though, that it's most likely that any interested party would pay a premium as they are likely to be a fan. The situation at present with non club fans on the board is pretty unique in SL.'" As I said on another thread, Kath values her "goodwill" in the business far too high for anyone to realistically want to invest. |
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| Quote: east hull FC fan "As I said on another thread, Kath values her "goodwill" in the business far too high for anyone to realistically want to invest.'"
Sounds like that is exactly the case. If she, for whatever reason, wants to stay put (and keep FC in our place, i.e. one less threat to Leeds  ) she's in the driving seat (of her vehicle with the Rhinos numberplate ). Seriously, if there were any suitors of FC they are highly likely to be fans as there is no business case really to invest in any RL club. The value of the club must be reducing though with performances and attendances on the slide. |
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| Quote: Mrs Barista "Sounds like that is exactly the case. If she, for whatever reason, wants to stay put (and keep FC in our place, i.e. one less threat to Leeds 
My god, what a position to be in. 
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| Quote: Mrs Barista "As it stands though the valuation of the business from a strict accounting net worth perspective is next to nothing. Adjusting for the player valutions, the business actually has net liabilities of around £100k (although this is far stronger than in 2004 when the net liabilities were £1.2m). If they wanted to sell, the asking price is determined by the directors as they are the shareholders, but would include things like the future earnings potential of the club, which is obviously entirely subjective, especially given falling attendances which should be a big concern. Kath etc would know, though, that it's most likely that any interested party would pay a premium as they are likely to be a fan. The situation at present with non club fans on the board is pretty unique in SL.'"
Basically still balance sheet insolvent with reducing income |
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| Quote: east hull FC fan "Some would call you a cynic. ![]()
The Leeds comments were TIC. I think. 
This season is new territory for the current board. Initially the objective was to get the business solvent. This was achieved through a combination of a strong pipeline of local talent, a coach with a love affair with the cup, the KC and massive latent support. The club has ridden the wave of 2005/6 and managed to sustain it way beyond what is reasonable, but now, finally, in 2011, the energy of past success and the club's PR machine is starting to dissipate and we're seeing a real drop off in crowds and probably sponsorship. Do they act? I think they have to.
On reflection, as well as the obvious current on the pitch performance and falling crowds, the development of our youth is as big an issue. Go back to the merger time and we had Cooke, Horne, Yeaman and King all debuting as teenagers, plus another group of players like Poucher, Shultz, Fletcher. The rate of churning out players capable of playing at SL level has definitedly stalled at FC since then. Saints, Leeds and Wigan had on average 11 homegrown players on show each this weekend. I would hope there is some challenge going on at board level on this sort of thing, but with the limited knowledge we have on our board, their peripheral interest in the sport would maybe lead you to guess it probably doesn't.
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Hull FC Fan & FC Irregulars Legendry No7. Still playing at 53yrs old !!:d7dc4b20b2c2dd7b76ac6eac29d5604e_9650.png |
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| Just for 'future' reference...does anybody know how much the shareholders are asking for the club...I heard rumours there has been a couple of tentative enquires recently and they have placed a large price on the club...what was this price (in canadian dollars if you please...  ).. |
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The poor man's bonaire:d7dc4b20b2c2dd7b76ac6eac29d5604e_32641.jpg |
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| Quote: Mrs Barista "It means that by making profit, we've reduced our liabilities. There is nothing in the accounts to show how much of this is due to the directors, but Rule has said the directors' loans have been repaid. I'm not really sure what your point is. The directors loaned the club money. The club has made some money since and it sounds like the directors loans have been repaid.'"
My 2 points were:
1. People were saying the loans hadn't been repaid
2. How had they been repaid? Was it a reduction in stock, conversion to shares, cash injection, increased borrowing from elsewhere or from generated profits?
I'm guessing you're saying from profits generated so I was really asking if the level of profitability was equivalent to the reduction in debt which I think you've confirmed. Looking at your figures though, creditors have fallen by over £1m. Have we generated that much profit? Or is there a way of repaying debt without borrowing from elsewhere or showing an equivalent profit? |
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