Re the tax bills, Wigan's is £60k and as far as I'm aware has now been settled. Rumours were that Hull FC's ran into several hundreds of thousands of pounds, but Pearson have agreed a payment schedule with HMRC. I think the Whinos case is still going through the courts/tribunal in terms of images rights and will be the RL test case for everyone who hasn't agreed with HMRC.

Wigans was £78K and has been settled. I believe that clubs have been given three years in which to pay off their tax liability. I'll try to find the exact ruling.

Ta.

Surely if it's going through the courts with Leeds, then the HMRC cannot expect everyone to pay up within 3 years if the judiciary have not even made a judgement yet?

Huh, a mod that's not even in england

Yep I find that the internet connection from Peasley cross helps me mod so much better than from the USA.





Or am I expected to go round to Rogues house with the heavy mob to sort him out.

Just bring a nice bottle of red wine with you, you're always welcome.


And bring the heavies Sadfish, Billinge_Lump, Chair Maker and mad McClennan round with you. We'll sort them out.



You could bring Saints Fan, now that WOULD be fun.

I think even with my new powers bestowed on me from above, persuading Saints fan would be beyond my powers.

Wigan did indeed make £38K in 2010 after losing £540K in 2009.

However, you seem to have forgotten that it is still insolvent with a negative net worth of £2.59M even after revaluing the Orrell land and buildings. Or that Wigans parent company values the Club at £75K and is worth £2K in total.

As you seem confident that confidential accounts yet to be released will show a profit, perhaps you can enlighten me as to how the £2M was repaid by Wigan in Dec 2010?

One of the reasons I don't come very often to this forum is because any serious discussion on any topic is quickly derailed into being about Wigan. It is a fair thing to mention Wigan for comparison, it is another to take the whole thread over to discussing them totally.

Why do people allow this Rogues character to do this? Why do you take him on?

Can the mods please clamp down on this?

For me as a supporter of Rugby League and a follower of Wigan, I thank God that Saints have their new stadium. Seeing Saints get attendances that are more in line with their standing as a top rugby league club can only be good for the game. Likewise, DW is a fantastic ground, especially when full and rented or not, it provides a superb arena for Wigan Saints matches. Both clubs would take big revenue hits if the other wasn't there and Rugby League would be a much poorer game.

I certainly envy Saints having their own ground and also the way the club made the transition from KR to LP without the strife Wigan had when Central Park had to go. Some of the financial transactions during that period and dodgy accounting practises dragged the Wigan name through the mud and in turn the name of Rugby League. When Ian Lenegan took over he was very blunt in stating that there would be an end to the shady dealings and that things would be run properly.

In Eamonn McManus and Ian Lenegan, the two top rugby league clubs have good direction and hopefully they will keep both clubs in good shape so that we can keep rugby leagues most valuable rivalry going for ever.

The £2 million I believe (not 100% certain) was Lenegans final purchase payment to Whelan.
At the last shareholders meeting (yes we do have them) IL stated that the club would make a profit in 2011, but was PLANNING a loss for 2012 mainly due to the investment into Central Park and South Wales.

And don't you think that a £578k turn round was pretty good going?

And back on track wasn't Saints last net worth valuation negative to the tune of £1.461 million?

And just for comparison Warringtons last net worth valuation was negative to the tune of £2.248 million.

You're particularly hung up about this issue. There is no requirement to hold AGMs. If Wigan choose to do something there is no requirement to do, great. If Saints choose not to, as a shareholder I get the accounts and if I wanted to take steps to requisition a meeting, I would do so. Same applies to all shareholders.

As it happens, I don't and I'm sure the board have a zillion and one things to do that take priority at the moment. Perhaps if IL had a stadium of his own to run, he'd have other priorities too?

I just think it's common courtesy that allows that shareholders to ask questions. I've never known Wigan not to have shareholder meetings.

Why can't I ask questions? I could ask a question now if I wanted to, why do I have to do it in a room?

The Companies Act removed the requirement for private companies for good reason - in most instances it's an utter waste of time.

If IL wants to convene a pat on the back meeting every year of his own volition, crack on. But don't pretend it's somehow the better or courteous way, because frankly I'd rather EM spent his time running the club than preparing for a meeting full of people with one share in the club asking inane and irrelevant questions and thinking that they should have a bigger say than they're entitled to.

Wigan have always had them as far as I can remember, it isn't just a thing IL has brought in, even in the days at Central Park.

Well they are clearly no use to anyone, given that you left Central Park bankrupt after irresponsibly spending to buy your history.

They used to be required by law, now they're not. so actually, having voluntary AGMs IS an IL thing.

Back on topic of Saints finances.
They have gone from having a nett worth of £2.859 million in 2007 to
minus £1.461million in 2010.

Hardly surprising given the losses over that period. A nice shiny stadium asset on the balance sheet will be nice for the 2012 numbers though

I guess you're trying to be clever by using the figure for Warrington Rugby League Football Club which is just part of Warrington Sports Holdings who actual operate the club.

Warrington Sports Holdings net worth in the last set of accounts was £12.3m or when assessed as a Group (eg including Warrington Rugby) it was £9.46m. So you was just a mere £12m out on your figures.

Saints finances will be exactly the same as a parent company will own the 999 year stadium lease and the worth will be identified as an asset for the parent company.

Not by much then?

A sensible & fair-minded wi*aner? Whatever next?


(seriously, nice post

)

Aye but its liquidity / cash what matters - ask Bradford.

Net worth figures can be manipulated anyway.

Im sure with the stadium in place that the balace sheet will improve in the coming few years.

I'm assuming those net worth figures are for the period inbetween selling KR and taking ownership of LP. In terms of net worth I would have thought we'd be pretty healthily in the black now.