SAINTS FURTHER STRENGTHEN BALANCE SHEET AND FINANCES

[josie andrews]

St.Helens R.F.C. have announced a major capitalisation of shareholders' loans into permanent equity capital. This further strengthens the balance sheet of the Club as well as improving its profitability and cashflow going forward.

Chairman Eamonn McManus stated:

“This is the final stage of a long term financial restructuring of the Club, after a series of timed capitalisation exercises dating back to 2002. It leaves the Club in fantastic financial shape.

In 2002 the Club was effectively insolvent, had negative net assets and was in facilities not fit for modern professional sport. As a result of the final stage of this long term programme, we are debt free, profitable and have a net asset value of approximately £22million. We now aim to improve further going forward by way of increased operational profit.

In addition, we have an unencumbered new stadium which underpins the playing success and financial stability of the Club in the decades ahead.

I would like personally to thank Crowther Street Holdings for their considerable and timely investment and for their continued support of the Club and its management.

Crowther Street has additionally agreed that I acquire part of their enlarged shareholding, resulting from this latest capitalisation, in order that me and my family’s existing shareholding remains significant.

We both intend to hold our shareholdings long term and each remain committed to the continued success of St Helens and of Super League.”

https://www.saintsrlfc.com/2019/06/01/s ... -finances/

[josie andrews]

I just wonder how e compare at the moment?

[Wiganer Ted]

At the moment? Loans into share capital.
How's their trophy cabinet this past ten years?

[fozzieskem]

I just wonder how e compare at the moment?

I wonder Josie

I’ll say it again you can’t beat having your own bricks and mortar,it solidifies a club apart from giving it a place to play it’s something you can show potential investors as well as match days income etc.

[DaveO]

I just wonder how e compare at the moment?

I wonder Josie

I’ll say it again you can’t beat having your own bricks and mortar,it solidifies a club apart from giving it a place to play it’s something you can show potential investors as well as match days income etc.

What exactly are you showing it to investors for? It's not a realisable asset unless you sell it and can actually sell it (the location and land it sits on might make it worth not a great deal) but then you have no ground.

If you use it as collateral for anything then you risk losing it if things don't work out.

Owning your own stadium is only any good if you can make a profit out of it from gate receipts, hospitality and having it used for other events or by other teams who rent it.

[fozzieskem]

I just wonder how e compare at the moment?

I wonder Josie

I’ll say it again you can’t beat having your own bricks and mortar,it solidifies a club apart from giving it a place to play it’s something you can show potential investors as well as match days income etc.

What exactly are you showing it to investors for? It's not a realisable asset unless you sell it and can actually sell it (the location and land it sits on might make it worth not a great deal) but then you have no ground.

If you use it as collateral for anything then you risk losing it if things don't work out.

Owning your own stadium is only any good if you can make a profit out of it from gate receipts, hospitality and having it used for other events or by other teams who rent it.

So sooner stay as Wigan are,playing second fiddle making no match day revenue from ale etc,not me I would as I’ve said have a fully owned stadium any day of the week.

Still it’s a moot point isn’t it?

[medlocke]

Build some stands around that lal stadium next door and move into there

[wall_of_voodoo]

I just wonder how e compare at the moment?

I wonder Josie

I’ll say it again you can’t beat having your own bricks and mortar,it solidifies a club apart from giving it a place to play it’s something you can show potential investors as well as match days income etc.

What exactly are you showing it to investors for? It's not a realisable asset unless you sell it and can actually sell it (the location and land it sits on might make it worth not a great deal) but then you have no ground.

If you use it as collateral for anything then you risk losing it if things don't work out.

Owning your own stadium is only any good if you can make a profit out of it from gate receipts, hospitality and having it used for other events or by other teams who rent it.

The downside however is that we have to play fixtures to suit the Latics and regularly go two to three months of the summer without one single home fixture. Plus when the lease comes for renegotiating we are at the mercy of Chinese entrepreneurs who have no interest in the Warriors but do have an interest in making good money

I do wonder what on Earth IL will do if these new owners are after a massive increase in the cost of the lease

You could argue that would be "no good" for them and be self-harming. That it may be, but without anywhere else to go, what do we do? Pay what they want or look elsewhere (Bolton maybe)

I don't think it is out of the realms of fantasy to guess that the Chinese owners have already hinted at preliminary talks over a new lease and what we have now is IL readying us for either downsizing into Robin Park or looking to play home games elsewhere

Perhaps it's just me, but for some reason I think we are going to be royally shafted in the next two to three years as the lease runs out

[fozzieskem]

Don’t forget as well the new owners are actively looking at holding concerts etc at the DW,now wether that comes off who knows all it leaves is Wigan increasingly second rate citizen at their home.

[Mickw]

The stadium is the soul of a club,we have no soul.