Message to Ian Lenagan

[jaws1]

Meanwhile Saints are, apparently, posting a profit. Why are they, and not us? Genuine question.

They have their own stadium and all the proceeds go to the club whereas we have to pay for the use of the DW.

[shaunedwardsfanclub]

Meanwhile Saints are, apparently, posting a profit. Why are they, and not us? Genuine question.

They won't do next season, they have made as loss of £1m on their catering contract. Wigan will make a loss in 2016 due to our exit from the CC as it is still the biggest money spinner. You have also got to hear in mind that IFL has invested in other projects e.g. Central Park.

[moto748]

Meanwhile Saints are, apparently, posting a profit. Why are they, and not us? Genuine question.

They have their own stadium and all the proceeds go to the club whereas we have to pay for the use of the DW.

I was aware of that of course but didn't imagine it was the biggest determining factor.

[ian.birchall]

Have any of you seen Wigan published accounts?

2014 lost £492K
2015 lost £190K

How much did Lenagan pay for Wigan?
What makes anyone think that he will make a profit selling a business that continues to make a loss?

Yes but you are forgetting 2013 when he sold Sam and Lee to the Aussies and made getting on for a million.
In any case he can write these losses off against the income he receives from all his other sources so they are reduced immediately by up to 45%.

[Owd Codger]

Meanwhile Saints are, apparently, posting a profit. Why are they, and not us? Genuine question.

They won't do next season, they have made as loss of £1m on their catering contract. Wigan will make a loss in 2016 due to our exit from the CC as it is still the biggest money spinner. You have also got to hear in mind that IFL has invested in other projects e.g. Central Park.

Correct and with the building of their own Stadium, it has not all been a good financial situation at St Helens in recent seasons.

From what I saw at the time money was being raised to build the Stadium and in the time of construction, their recruitment of players was not up to the the usual standard it was in the latter years of Knowsley Road when their team included the likes of Cunningham, Joynt, Martyn, Long and better oversea's players than they have now.

[JUKESAYS]

Meanwhile Saints are, apparently, posting a profit. Why are they, and not us? Genuine question.

You sure?

Taken from a saints fan who dug a little deeper than the headline on the BBC website.
So not sure if no straws figures like for like should be compared to a 30k profit or a 625k loss?
Either way a 30k profit still wouldn't be worth it to have to watch Jack owens, Dominic peyroux etc and Jon Wilkin still going round in a wheelchair.



Not according to the accounts I downloaded or indeed the club website;

Earnings before interest, tax and depreciation also improved from a loss of £371,211 in 2014 to a profit of £30,715 in 2015.
After those items we again made a large loss although not as large as previous years.
Loss for the financial year £624,279 compared with £1,079,464 in 2014.

Also, this years (2016) finances are not looking too good as McManus says:
"The financial position is undoubtedly more challenging in the 2016 season, deriving largely from a number of months when the rugby results were not as we would hope for and expect. This inevitably had a detrimental effect on crowd numbers and their related revenue streams".

http://www.saintsrlfc.com/news/page/6168

I am not sure what to say except it is disappointing, but not too unexpected.

The club is totally reliant on a loan from Crowther Street Holdings an off shore British Virgin Isles co apparently owned by Mike Coleman of £11.9M.

This loan bears interest and is repayable in full by 31/10/18.
there seems to be not much chance of the club being able to do that id it losing money. More likely Mr. Coleman can convert his loan into shares at any time which would give him the vast majority of the ownership of the club, which he deserves for putting nearly £12M into a perennial loss making company.

If he does that, we will be the best capitalised club in SL with no borrowings and no chance of going bust.

Alternatively if he falls out with the rest of the Director's and shareholders and he wants repayment in 2018 then he could call in his security which is all of the club's assets which means he would effectively own all of the club.

[Wintergreen]

Jeez what a way to kick a man when he's down.

Parting with £12m AND getting ownership of Stains.........

[adiddy]

Jeez what a way to kick a man when he's down.

Parting with £12m AND getting ownership of Stains.........

Ha ha ha Sweet!!!!