Quote: ☺East-Sard☺ "Makes London RL look well run
I know they have had their stadium on the horizon for a while now but how have they managed to lose so much each year?
-£7.5m is incredible for what has been a successful team over that period.'"
They've been spending ~78% of their income on wages for one thing. That doesn't leave much to fund everything else. And KR was a drain on resources as it required a lot of maintenance. Luckily for them they have a wealthy BOD who have continued to cover losses and even convert debt into equity, so although losses have continued year on year their net debt actually decreased from 2009 to 2010.
Sports finances seldom make good reading.
