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Saints lose £861,810 in 08/09


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#21 Padge

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Posted 17 August 2010 - 06:24 PM

QUOTE (RS @ Aug 17 2010, 07:17 PM) <{POST_SNAPBACK}>
and thats exactly why I didn't say that.

I didn't say you did, I was adding to your comment not arguing with it.

Not every reply is picking an argument. rolleyes.gif
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#22 RS

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Posted 17 August 2010 - 06:29 PM

Oh yes it is

#23 TWD

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Posted 17 August 2010 - 08:04 PM

QUOTE (markleeds @ Aug 17 2010, 04:02 PM) <{POST_SNAPBACK}>
Chances are that its a paper loss anyway, Directors Loans etc, its does not always mean that the club owe that sort of money on real terms.


Saints have actually used their overdraft to fund a lot of the losses in 2009 - their overdraft as at 31st October 2009 (date of the accounts) was £543,781. An overdraft like that does not come cheap.

#24 Padge

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Posted 17 August 2010 - 11:01 PM

QUOTE (TWD @ Aug 17 2010, 09:04 PM) <{POST_SNAPBACK}>
Saints have actually used their overdraft to fund a lot of the losses in 2009 - their overdraft as at 31st October 2009 (date of the accounts) was £543,781. An overdraft like that does not come cheap.

What is the overdraft against turnover though?


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#25 cookey

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Posted 18 August 2010 - 08:37 AM

Surely the concern should not be the £860,000 loss,but losing that money in a year when they won the Cup and got to the Grand Final. Clubs surely must budget to break even in an 'average' season,not a successful one.

#26 Dave T

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Posted 18 August 2010 - 08:52 AM

Surely the important thing here is what Saints forecasts were.

If they budgeted to have this loss, then there are no issues. If this loss came as a result of missing key targets around sponsorship and income then it is a bigger issue.

Plenty of companies plan to lose money as part of a longer term growth plan.

#27 Jill Halfpenny fan

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Posted 18 August 2010 - 09:52 AM

QUOTE (Saint Toppy @ Aug 17 2010, 03:57 PM) <{POST_SNAPBACK}>
I remember reading somewhere an iterview with Eamon McManus where he said that it was actually cheaper to hire out the Halton Stadium for a year than it was to continue to repair & maintain Knowsley Road.


This is appalling news for the rate payers of Halton.

Nothing less than a substancial increase is required.
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