I see they are discussing our financial meltdown on other forums. Apparently in fighting with Eamon criticising the club's management for their commercial failure.

Spending 78% of revenue on salaries and not increasing turnover.

We're doomed apparently. Anyone have an (unbiased) analysis to share with us?

I've not heard anything about this yet, but as I've just read on the Wigan board these losses come on the back of many final appearances and cup wins, top place finishes and so on. With attendances being so low and us not doing so well this year I can only estimate that the losses will be bigger next year. How can we turn this around? We are moving into a new bigger stadium where ticket sales will certainly increase but surely ticket sales alone wont stabalies the losses.

I think the point was, that if a succesful team can't make money, the weaker teams have a hell of a problem.... Hope it gets sorted, but on the face of it, the change of deal on the KR sales seems to be a ball-breaker...

I would hope that moving back to our own stadium (where attendances should improve and we wont have to pay Widnes 15,000 per game to play there) should make a difference. A lot of money will have been spent on the stadium also which wont have to be paid out either from next year...I think if anybody can sort the finance out it is MCManus - after all he took us from 4 million in debt to operating at a profit before and managed it without selling any big name stars. Lets hope it is just being blown out of proportion a bit

I never realised we were paying that to play at widnes, and thinking about it we must have been paying alot over the years for planning. But as mentioned other clubs not doing so well could well be in some bad financial trouble.

Simple answer to this, stop spending money we don't have and if this means a mid table finish, so be it.

We're already achieving that

With no Jammer we're probably in line for 4th or 5th next year.

For good reason to!
I always dread this time of year when our accounts are published.

I was hoping that the loss was mainly down to the revaluation of KR. Unfortunately, I’ve just downloaded the accounts and the £1.38M is trading losses. There was the further £1.62M write down loss giving a total loss for the year of £3.01M.
It doesn’t take a genius to know that these losses are unsustainable.
However, the club generated cash of £341K and managed to reduce its net debt from £1.16M to £0.94M which is encouraging. The company though did owe Eamonn’s company £4.3M which shows the level of support he and his co-investors have given and continue to give.
Without their great financial support and at current attendances, we would be a financial basket case.
Obviously, as is said in the accounts, 2011 will be another year of substantial losses especially with reduced revenues from lower attendances at the stobart stadium.
The only way out of this mess is twofold 1) the directors have indicated converting a substantial part of their loans from debt to equity and 2) for US the fans to really show our support at the new stadium and try to double our attendances!

Come On You Saints!!

Unfortunately the town doesn't appreciate the club and team as it should.

If Saints went under there would be 100,000 people out marching in the street. If 5,000 of them made their way over to the ground every other week with the rest of us (I use the term "us" broadly as I don't go as much now I'm based down south), we'd be in very nice shape.

If we can't get 13/14k average MINIMUM at the new stadum, frankly the town doesn't deserve the club and the directors should spend their money on their families instead of propping up a club for a town that, largely, doesn't care.

You will not get 13 or 14k average gate no chance.

I haven't seen our latest profit / loss figures but I am guessing that the Take That tour has helped us turn in a tasty profit.

Oh and off course winning back to back trophies always helps

It would be a smaller % increase than Wire got with a new stadium. We were averaging 11k at KR the last couple of years before Widnes.

IIRC Wire went from about 7,000 to about 11,000 (over 50% up). 13k would be 18% up for Saints on the KR crowds.

Perfectly realistic.