Hull FC losing £750k per year and may have to go part time.

[DimmestStar]

Not my words they are those of owner Adam Pearson;

https://www.hulldailymail.co.uk/sport/rugby-league/rugby-league-news/adam-pearson-hull-fc-warning-5564640?utm_source=leeds_live_newsletter&utm_campaign=rugby_league_lve_newsletter&utm_medium=email

[gingerjon]

Small time sport getting smaller

[Damien]

There's so much wrong and so many contradictions in what Pearson says it's pretty hard to know where to begin.

[Southerner]

“We have the third highest wage bill in the league”. Isn’t this poor management from Hull FC?
 

Genuine question: why are other clubs coping better like KR who seem to be looking at improving their playing staff if recent rumours are to be believed?

[Spidey]

7 minutes ago, Southerner said:

“We have the third highest wage bill in the league”
 

Another club spending more than they can afford, when will they learn?

[Spidey]

and another thing. If they’re the third highest spenders, at least two of Wigan, Saints, Wire & Catalans are spending less, I’d say Hull FC are vastly overpaying for their squad

[Dave T]

16 minutes ago, gingerjon said:

Small time sport getting smaller

I don't think we should judge the sport based on one of the least impressive speakers in the game.

[Tommygilf]

Any person who unironically uses the words "war chest" in RL should be banished to the CCF.

That aside, FC seem to be partly in a case of not fixing the roof whilst the sun was shining, and partly suffering from the fact that Pearson is just not that wealthy. The Club itself also appears to have minimal assets and the arrangement with the Allams is genuinely ridiculous.

That is all before we get to the wider game malaise at the moment.

[gingerjon]

2 minutes ago, Dave T said:

I don't think we should judge the sport based on one of the least impressive speakers in the game.

I see where you're coming from but the cold, hard truth is that the least impressive speakers, and dullest thinkers, are now absolutely dominating the direction the game is heading in.

[Tonka]

4 minutes ago, Spidey said:

Another club spending more than they can afford, when will they learn?

Clearly I don't have insight into their figures but (i) if you want to be a top club you have to spend on players and (ii) they probably could have covered those wages or lived with a small shortfall on the projected income for 2020 and 2021, which has been slashed drastically as a result of the loss of Sky money and revenue due to covid.  They have contractual obligations to pay players that will pre-exist Covid and Sky money loss.  There will have been some wage jigging with players but if their bill was high to start with, it will be tough to get low enough.

[Mumby Magic]

I'd rather they do that than go bust. Speaking from experience.

[Saint Toppy]

1 minute ago, Spidey said:

Another club spending more than they can afford, when will they learn?

Exactly, clubs need to cut their cloth to suit.

Hull also went down the route of playing out of a stadium they don't own instead of biding their time and getting the finance in place in order to get their own stadium. It took Saints nearly 10 years to get the plans & finances in place and McManus has since admitted it was a real struggle, and during some of those years (and post opening) they chose to go for 'cheap' options with players so they didn't overstretch themselves.

That decision has put the club on pretty strong financial footing for the long term and had actually just started to turn a profit before Covid struck. Pre-Mcmanus taking over Saints they were in dire straits financially with a completely inept board, spending beyond their means, coupled with a crippling stadium maintenance bill each year of £1M+.

I think McManus best decision was to reform the entire board. While he's a multi-millionaire in his own right he's certainly not the main financial backer of he club, that's Mike Coleman who's Singapore based financial company is worth over £1Bn.

So its hard to be too critical of owners like Person who have done what they believed to be best for their clubs at those times, but maybe its time for Pearson to now step aside and find someone else with deeper pockets who can take over and put Hull back in a strong position.

[Just Browny]

"With measured caution Adam Pearson picks his words carefully. Not wanting to run the risk of hyperbole or instil further alarm into an already difficult public climate, the Hull FC owner begins to paint a picture etched in caution."

Not quite the approach DimmestStar has taken.

[Dave T]

21 minutes ago, gingerjon said:

I see where you're coming from but the cold, hard truth is that the least impressive speakers, and dullest thinkers, are now absolutely dominating the direction the game is heading in.

But the sport is bigger than RL in Hull. and indeed Super League itself.

Every time I get depressed about something that is happening, I think about the World Cup to cheer me up somewhat.

[Spidey]

12 minutes ago, Saint Toppy said:

Hull also went down the route of playing out of a stadium they don't own instead of biding their time and getting the finance in place in order to get their own stadium. It took Saints nearly 10 years to get the plans & finances in place and McManus has since admitted it was a real struggle, and during some of those years (and post opening) they chose to go for 'cheap' options with players so they didn't overstretch themselves.

A lot of clubs thought they'd be getting chucked out of the top league (or not let in) so thought they needed a quick solution, plus Hull soccer were nowhere near being a threat

[gingerjon]

5 minutes ago, Dave T said:

But the sport is bigger than RL in Hull. and indeed Super League itself.

Every time I get depressed about something that is happening, I think about the World Cup to cheer me up somewhat.

Oh aye, there are many things I'm positive about.

The state of the professional game in England is not one of those things.

[Dave T]

TBH, having read the article again, I'm not sure what is newsworthy here. Clubs are losing money during the pandemic, of course they are! Ticket sales are down during the pandemic. Of course they are!

It all just feels like a bit of a rambling moan.

[Damien]

31 minutes ago, Dave T said:

TBH, having read the article again, I'm not sure what is newsworthy here. Clubs are losing money during the pandemic, of course they are! Ticket sales are down during the pandemic. Of course they are!

It all just feels like a bit of a rambling moan.

Pearson does seem to have a regular moan about a lack of money and things about the wider game whilst seeming to do little to rectify the things that are within his control.

[Dave T]

12 minutes ago, Damien said:

Pearson does seem to have a regular moan about a lack of money and things about the wider game whilst seeming to do little to rectify the things that are within his control.

The problem is, that the one time he was positive about the game, it was a load of guff about how we were going to raid Union and go on the front foot. He just doesn't speak well about the game and his club really.

[Damien]

5 minutes ago, Dave T said:

The problem is, that the one time he was positive about the game, it was a load of guff about how we were going to raid Union and go on the front foot. He just doesn't speak well about the game and his club really.

2 extremes in 3 years.

[boris74]

I would also suggest that this is also meant for the attention of the Allams who currently run the stadium (SMC) - very badly!

Its a bad situation made worse by the putting back of the lockdown. Back in February I suspect Pearson took the govts word and expected normality to be back and full houses available by now but its not. I guess plenty of other club chairmen could have had the same rant.

It also looks like he is narked by the point blank refusal to accept a major investment into the sport by our leaders..

Just a whinge I would say.

 

[JohnM]

If he's not happy, he can always unite with Hull KR to create Hull United  and dominate the game. 

[Agbrigg]

Last paragraph made me laugh. Has he only just realised the point he has made about it being a 4 team competition. Many realised that years ago.

[Saint Toppy]

1 hour ago, boris74 said:

It also looks like he is narked by the point blank refusal to accept a major investment into the sport by our leaders..

 

Except it wasn't just the RFL who opposed the private equity, so did the majority of other club chairmen. After seeing the financial impact it had on sports like Union they decided it was too much to give away for just a short term cash injection

[DimmestStar]

People should remember that BEFORE covid Pearson said that Hull FC's spending was unsustainable. He said that the plan was to make a breakthrough on the field and increase the fan base to make the sums add up.

Despite the massive spending Hull haven't made a breakthrough on the pitch and thanks to covid a financially insecure position to start with has been made a great deal worse. They've lost thousands of season ticket holders who may never come back.

I can only see drastic cuts at Hull FC otherwise we may have another Bradford on our hands.