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.

Not really, at KR you won trophy after trophy so your crowds will be close to the best they can get, couple that with the fact when you were winning things in the 2000's the economy was good and people were in jobs but now the economy is knackered and probably will be for a good few years.

We were poop year after year at Wilderspool and moving to the HJ opened up our potential.

There is a difference between your move and ours.

Your arguement doesn't ring true.
If that were the case your attendances would have carried on increasing over the last 7 years as your team has got better and better.

The club has turned a corner in terms of facilities, opening up chances for new income and reducing costly maintainance bills. We should also increase our income from crowds.

If we're still ing money away after we're settled in the new place, then I'd be worried, but all those figures quoted are in the past, and we're still here.

Our crowds in 2009 and 2010 when we won nothing were higher than in 2006 when we won everything.

Remember these accounts are for 2010! and it seems a lot more income was expected from the last season at Knowsley Road, but it is quite clear that all clubs can't continue spending more on wages than they bring in through gate receipts. One time clubs could top up with their own lottery but how do you compare with prizes of the UK National Lottery & Euro/

A loss of £1.384,706 is a lot! even the turnover £58,000 down on the previous year 2009.

I would not like to question the attendance figures claim of FearTheVee but I find it difficult to understand that this season 2011 as he quotes at Widnes are higher than 2006? or are you making reference to season 2010/2011?

This year I have never know such low attendances last Friday again lower than the average 7,000. The accounts for this present season are going to be interesting with hire of Widnes costs, not sure if there will be a loss of bar figures, but then no costs for running such as Knowsley Road and council taxes ground rents etc

As a game we can't carry on spending the money we are doing, union only have to stage a friendly international and they can bring in 70,000, our survival is all on Sky.

Yeah, I meant 2009 and 2010 - the last 2 seasons at KR.

Eamonn McManus criticises the club’s management for its commercial failings, writing “it was particularly disappointing that full advantage was not taken of the commercial opportunities availed to the club from its last year at its historic Knowsley Road home.”

i couldnt agree more with that sentiment. They had a long time to produce a season of events and ended up doing very little.

A shirt, A book, a couple of marquee events on the pitch.

What happened to a Final Game at Knowsley road for a start. Wire must have had three or four goes at wilderspool before they left.

But you also have to look at the loss over over a million in the land deal which was renegotiated. Sale price of Knowsley Road to Taylor Wimpey was renegotiated down by £1.625m

I would imagine that is why we are a year later than planned in moving into our stadium. The credit crunch popped up from nowhere and almost destroyed everything. Having to renegotiate downward by that amount is bound to be significant and it may be that our new place isn't as classy as was originally planned or it could be that the directors decided to take a bigger hit than originally planned.

However, having read about this in the RL press this week, McManus also says that once we have the keys in October we have an asset which will produce benefits.

It already has of course. I'm not sure we would have pulled off a two year deal with Typhoo at Knowsley Road or secured our own brand of beer thanks to a local brewery (Saints Gold). Christmas parties are already being booked for the new stadium and apparently ten of the twelve boxes have been 'sold'.

The biggest point in all this is that whether the club can afford these losses, will the board members debenture the losses again, and they almost certainly will.

The losses need to be stopped, but as long as we can fund them from the top then as i've learnt over the years it's not overly worrysome.

There is a lot of money at the head of the club at the moment and a the new stadium is probably in everyone's eye's, losses at KR where often passed off on the stadium, will they dissapear at the new stadium? only time will tell.

How much would the rebranding of the club have cost? and now it's being changed again. Why didn't they wait till the first season in the new stadium.

I've not read the whole thread o read anything about saints latest financial mess but could the losses be a exaggeration for some unknown reason like, say the tax man?

I run my own business and pay my accountant a lot of money a year to help me pay less tax ( all legal ) and their are certain ways to reduce your tax bill.

Just a thought, I'm not into the financial side of my business, that's what I have a very good accountant for.

havent you got any other sites to troll on!!!
you are becoming more and more boring as time goes on.

If only this was the case.
The losses are down simply to high costs (wages) without high enough income/sales.
The only solution is to increase sales dramatically at the new stadium by a massive increase in the crowds.