WWW.RLFANS.COM • View topic - ¬£600K loss last year!
Re: £600K loss last year!
Post Wed Sep 20, 2017 5:14 pm
Posted by Th'Observer on Wed Sep 20, 2017 5:14 pm
Th'Observer User avatar
Bronze RLFANS Member
Bronze RLFANS Member

Joined: Tue Jul 18, 2006 7:33 pm
Posts: 4110
Location: Wigan
Does anyone have the profit and loss year on year since Lenagan took over?

Haven't we had a mixed bag of profits and losses over the past 10 years? And with a better projected result for 2017 this would continue that trend.

I'd guess this is probably not the case for many sports clubs who consistently make losses year on year.

IL has stated on many occasions that he wants the club to "wipe it's own face".

I see the trolls are out on social media loving the £600k loss but they probably didn't bat an eyelid in the years we made profits.
Re: £600K loss last year!
Post Wed Sep 20, 2017 6:14 pm
Posted by Lebron James on Wed Sep 20, 2017 6:14 pm
Lebron James Free-scoring winger
Free-scoring winger

Joined: Sat Aug 03, 2013 9:32 pm
Posts: 1077
The really alarming thing is that this loss was posted during your super league winning season! It's evident that without IL you wouldn't be in business but this is no different to a lot of clubs. DaveO, if you look at the parent company accounts, the loan made to Wigan rugby club has come from IL personally as it has increased by the same amount as his directors loan in there. Lenagan investments owes IL 5.9m. Money he's never going to see again!

Regards

King James
Re: £600K loss last year!
Post Wed Sep 20, 2017 6:41 pm
Posted by Finfin on Wed Sep 20, 2017 6:41 pm
Finfin Free-scoring winger
Free-scoring winger

Joined: Tue Feb 18, 2003 1:13 pm
Posts: 1661
Does the club get any return on Stadium sales of food and drink on match days, or does the Stadium company bank the lot?
Re: £600K loss last year!
Post Wed Sep 20, 2017 9:58 pm
Posted by Newbridge_Wolf on Wed Sep 20, 2017 9:58 pm
Newbridge_Wolf Stevo's Armpit

Joined: Fri Apr 22, 2016 6:51 pm
Posts: 71
Lebron James wrote:
It's evident that without IL you wouldn't be in business

Not necessarily, it just means that the club would be looking at a different business model where it has to cut its cloth instead of knowing it can make a loss which will be covered.
Wolves FC/Wigan RL
Re: £600K loss last year!
Post Wed Sep 20, 2017 10:52 pm
Posted by Uppo58 on Wed Sep 20, 2017 10:52 pm
Uppo58 Strong-running second rower
Strong-running second rower

Joined: Mon May 16, 2011 4:30 pm
Posts: 473
If you could get back to playing good rugby (coach ?) I'm sure the fans you've lost, (even following last years GF win) would come back.
But will they come back to see sterile Rugby ?
Even for big games support is down especially when you have to travel, I think fans are just a bit demoralised with what's been turned out, versus what your used to ??

It's easier said than done, But get those fans back and you break even.
Re: £600K loss last year!
Post Thu Sep 21, 2017 10:12 am
Posted by Rogues Gallery on Thu Sep 21, 2017 10:12 am
Rogues Gallery User avatar
Gold RLFANS Member
Gold RLFANS Member

Joined: Thu Oct 17, 2002 12:07 pm
Posts: 30296
Th'Observer wrote:
Does anyone have the profit and loss year on year since Lenagan took over?

Haven't we had a mixed bag of profits and losses over the past 10 years? And with a better projected result for 2017 this would continue that trend.

I'd guess this is probably not the case for many sports clubs who consistently make losses year on year.

IL has stated on many occasions that he wants the club to "wipe it's own face".

I see the trolls are out on social media loving the £600k loss but they probably didn't bat an eyelid in the years we made profits.


Financials from 1997 to 2016 https://beta.companieshouse.gov.uk/comp ... ory?page=1

And if you think it's purely down to not owning our own ground then read this on Red Vee

http://www.redvee.net/forums/showthread ... sses-Widen
SAINTS THE ORIGINAL AND PERENNIAL CHEATS

For sale full Saints kit (circa 1989). Shirts in pristine condition, but shorts badly soiled.

For 27 - 0 you get a trophy
For 75 - 0 you get sod all.

Wigan had eight in a row
Saints have five in a row
Re: £600K loss last year!
Post Thu Sep 21, 2017 1:47 pm
Posted by tangerine on Thu Sep 21, 2017 1:47 pm
tangerine Stevo's Armpit

Joined: Wed Feb 22, 2012 5:00 pm
Posts: 62
and were does the acquiring of robin park come in all this?
Re: £600K loss last year!
Post Thu Sep 21, 2017 2:45 pm
Posted by Rogues Gallery on Thu Sep 21, 2017 2:45 pm
Rogues Gallery User avatar
Gold RLFANS Member
Gold RLFANS Member

Joined: Thu Oct 17, 2002 12:07 pm
Posts: 30296
tangerine wrote:
and were does the acquiring of robin park come in all this?


What do you mean?
These are the 2016 accounts, the Robin Park acquisition, Orrell sale, hasn't been concluded as yet, to my knowledge.
SAINTS THE ORIGINAL AND PERENNIAL CHEATS

For sale full Saints kit (circa 1989). Shirts in pristine condition, but shorts badly soiled.

For 27 - 0 you get a trophy
For 75 - 0 you get sod all.

Wigan had eight in a row
Saints have five in a row
Re: £600K loss last year!
Post Thu Sep 21, 2017 3:00 pm
Posted by goobervision on Thu Sep 21, 2017 3:00 pm
goobervision Cheeky half-back
Cheeky half-back

Joined: Thu Aug 05, 2010 6:55 am
Posts: 814
Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.
Re: £600K loss last year!
Post Thu Sep 21, 2017 3:33 pm
Posted by Wigan6/Leeds1 Andy on Thu Sep 21, 2017 3:33 pm
Wigan6/Leeds1 Andy User avatar
100% League Network
100% League Network

Joined: Sat Dec 22, 2001 12:04 pm
Posts: 13943
Location: Looking for coffee and donuts
goobervision wrote:
Why do we all care about the P&L? A loss made, writedown, exceptional costs whatever, that's no tax to pay and carry the loss over to next year.


Because somebody needs to fund the losses. Thankfully Lenagan is at the moment (to the tune of £5.9m) but in the medium and long term the club needs to be able to "wash it's own face" or it isn't sustainable - just remember what happened to us in 1999.
PreviousNext

Who is online

Users browsing this forum: Bigredwarrior, exiled Warrior, goobervision, hatty, ksm1701, Saint_Claire, SecondRowSaint, Sweaty Betty's and 140 guests

Quick Reply

Subject: Message:
   

Return to Wigan Warriors - cherryandwhite.co.uk





POSTSONLINEMEMBERSRECORDYOUR TEAM
4,664,1311,74776,3494,559SET
LOGIN HERE
or REGISTER for more features!.
TOMORROW 09:00
World Cup: Semi Final
AUSTRALIA
v
FIJI
Sat 25th Nov 05:00
World Cup: Semi Final
ENGLAND
v
TONGA
Thu 1st Feb 19:45
SUPER LEAGUE
WARRINGTON
v
LEEDS RHINOS
Thu 1st Feb 20:00
SUPER LEAGUE
HULL FC
v
HUDDERSFIELD
Fri 2nd Feb 19:30
SUPER LEAGUE
SALFORD
v
WIGAN WARRIORS
Fri 2nd Feb 19:45
SUPER LEAGUE
ST. HELENS
v
CASTLEFORD
Fri 2nd Feb 20:00
SUPER LEAGUE
HULL KR
v
WAKEFIELD
Sun 4th Feb 15:00
SUPER LEAGUE
WIDNES VIKINGS
v
CATALAN DRAGONS
Thu 8th Feb 19:45
SUPER LEAGUE
LEEDS RHINOS
v
HULL KR
Fri 9th Feb 19:45
SUPER LEAGUE
WAKEFIELD
v
SALFORD
ALL SCORES PROVIDED BY RLFANS.COM