Great news.......................

Roll on February

The more you look at this deal the better it is. Shareholders have obviously looked at the profitablility of Saints going forward and decided they can get a good enough return through profit to relinquish the interest on any loan.

As for the bond and private debt scheme no one will know the terms of this other than the parties involvedcould be a loan at zero percent repayable over two hundred years could be at wonga.com rates. Either way I think the rater will be lower than what a bank could offer or they woulfd have just got it from a bank secured against the stadium.

Being totally honest if i ever won a considerable amount of money or was a self made millionaire, being a Saints fan i would donate a fair chunk of it to the club and expect nothing in return.....maybe a box or complimentary half time pie. Does anyone think this is the case with the shareholders?.....(The money side of it rather than the pie bit)

Just been reading up on Mr Coleman,like Mr McManus was born in StHelens and they both have more far eastern links than Jills chippy.One interview was titled 'The billion dollar interview',nice

Its entirely possible that it could be the case. But the whole point of the new stadium is to turn some kind of profit.

St Helens and Warrington have to be congratulated that they do own their own stadium and credit to St Helens that it is the better stadium, at first I had doubts about the 18.000 size, I felt 20,000 would have been better, but on reflection on the past few seasons it is better to have a stadium that is running to close capacity at the majority of games than such as The Giants in such a large football stadium looking more than half empty all the time.

Interesting over Mr Coleman, good on him, but when people are protesting outside St Paul's in London about the way money is made in financial circles we all soon are willing to close our eyes when we benefit.

Our owner in London has made his money in the oil markets, not a favourite industry with costs of petrol we pay, but the personal money he has pumped in is amazing and it even more next season. Currently we are looking at a 15,000 new stadium which is perhaps like Salford but like Warrington can be developed and extended as needed/

If I was a Wigan supporter I would be very disappointed now such a leading club and not owning their own stadium, many in London like being at The Stoop, but sadly the marriage has not worked and the sooner we leave the better and one day join St Helens and Warrington as stadium owners.

This is great news it basically gives the club a datum to become a profitable club from now onwards.
The two significant items in the statement! Is that we have No bank debt and No directors loans meaning no significant liabilities as we start the new season in the new ground.
The new business model must be very attractive to sponsors, lets hope the fans turn up in excess of 12000 to back up our directors financial commitments.

How did the Wigan Chairman tell the fans he had just paid back £2 million to DW (I think it was). How does that £2 million show up on Wigans finances.

All very nice, we are a mega bucks club, with owners richer than abramovich and the man city rag heads put together. But the important wquestion that I cannot believe hasn't yet been asked is...... Can we now afford cladding????

I dare you to tweet that question to @Saints1890! G'won! Dare ya!

I wonder if Rogues practices being bitter or if it comes natural being a Wiganer. It's great to be supporting a top club with great finances and a new wholly owned stadium we dont have to share with a football team. It's even better knowing plenty Wiganers living in Billinge helped us pay for it , even in just a small way.

I opened this thread and was just wondering how many posts in it would be before Rogues posted something that looked like a vague insult or negative insinuation about Saints.. I bet when he read the article he nearly choked on his mushed up evening meal.

Anyone ever seen the Liverpool video , '15 minutes that shook the world' ? Swap the Everton fans for Wigan fans and the Alex Ferguson parody for Rogues and you can imagine he's like that everytime Saints are on TV

... they even have a Rat Boy in that vid too

No I'm a coward at heart! You do it, you're a girl, can get away with it!

Best. Thread. Ever.

Having skimmed the thread it would seem that Saints have restructured some debt and traded some debt for ownership. I would like to assume that a good deal has been had, but given the banks are not going to be keen to provide a loan to a loss making business, the terms could be worse.

Hopefully it's better for Saints and so good for RL.

Anyway, back over the hill to read the pointless repeat thread about stadium ownership v rental, or should that be capex v opex spend?

The biggest problem for Wigan RL is next year if the Latics get relegated. DW will lose his premiership funding and could be possibly going to Ian Lenegan for increased running costs. As Wigan has very insignificant asset value, this could damage profit margins, a couple of bad seasons and reduced attendances Ian Lenegan will have to dig deep on a stadium he dosn,t own.

He explained it to us at the shareholders meeting. It was the final payment for his purchase of Wigan from DW. He also explained Wigans tax liability for the image rights payments that most clubs are likely to face and the fact that Wigan made a profit on the 2009 season, would make a profit in 2010 but expect to make a loss in 2011 due to quite big investments being made that would bring profit to the club in further years.

It was a very informative and interesting meeting.

It will be a very informative next meeting if you ask what plans are in place to get the players to fulfill their contracts eg: Barrett, J Tompkins and Sammy Rodent, in Joel's case I'm not taking the "P", have a nice day

Wigan RL has a fixed agreement in place (it's either a 25 or 50 year, it wasn't brought up at this years shareholders meeting) whereby they pay 10% of their gate receipts for the use of the stadium, but things like pitch maintenance & renovation, floodlight costs etc, are covered in that 10% figure.
As a cost based model it is a superb agreement, but as a revenue based model we lose out on things like non matchday opportunities.

Hence Wigan RL diversification and investment into other areas, which will become apparent in the next year or so.

Union?

From the annual accounts,Wigan made a net loss of £540k y/e 30 Nov 2009 and a net profit of £38k the following year.At 30 Nov 2010,they had negative net worth of £2.69m(ie liabilities exceeded assets)

Wowsers. For comparison, what is our net worth? Are we worse off?

Wiganers had better be careful what they wish for. A relegated latics could easily drag the goons down with them. Their minimal margins will soon be wiped out and instead of the current situation where football subsidises the rugby, could easily end up with the goons having to prop up the latics

Not necessarily - the premier league cashcow getting carted off to Maccie D's might be a major blow to Latics, but there's no reason at all that they couldn't still do financially quite nicely in the Championship or even League 1 - revenue streams in footie are much bigger even at the lower league levels than Superleague could ever dream of. MK Dons run a stadium about the same size as the Piedome in League 1 on less than 9K a game for instance.

Fully agree with you, clubs also get a real good parachute payment when relegated to the Championship

we had negative net worth of £1.46m at 31 Oct 2010 having incurred losses of over £2m in the two years 2009 and 2010.

The balance sheet at 31 Oct 2011 will make very interesting reading but it won't come into the public domain until next year.