www.sporthull.co.uk/hullkr/news/ ... ticle.html All is well with RL , especially SL Average losses of over £ 540,000

www.sporthull.co.uk/hullkr/news/ ... ticle.html All is well with RL , especially SL Average losses of over £ 540,000

With HKR expecting 2009 figures to boost their losses to a figure in excess of 1 million over three years.

A loss some Sl clubs are close to making A YEAR!

Thats OK then

not really but it does make me feel a bit better!

Thats Hudgells second denial of problems, we all know what 3 denials mean don't we

why is it a problem? If he is happy with the debt and is underwriting it there is nothing to worry about.

Hudds are £5million in debt according to the balance sheet losing £1.7million in 2008 alone (massive underachieving year) but whilst KD is happy to underwrite it there isn't a problem. With him getting rid of HTFC we (Giants) are in a better position too (since he also owns 60% of the stadium company.

As long as you're relying on someone to underwrite the debt, there's a problem IMHO.

The majority of businesses are structured to operate at a profit or break even at worst.

Ask Gateshead what happens when the 'one' underwriting it decides enough is enough. What happens also if the underwriter drops dead tomorrow and their family no longer want to be involved in RL and the directors loans have to be returned.

If you're happy for you club to be massively indebt, incur large losses each year and be underwritten by chairman/board members.
have a look at the recent history of gretna fc.

Wish I'd found that, and who can say that isn't going to happen.

I can really see at least one SL club going pop in the not too distant future. So many are reliant on shareholder/director funding and its not sustainable.

Leeds made a tidy profit after selling the cricket ground.

So what are they selling next year to make a profit ?

They're not. They are debt free as it stands but the redevelopment of the South stand will send them back into the red.

But the rugby side of the business made a big loss did it not.

[urlhttp://www.yorkshireeveningpost.co.uk/rugby-league-headlines/Leeds-Rhinos-Leeds-facing-stand.5829534.jp[/url

The sale of the cricket ground will reduce income next year will it not. The turnover is from the business as a whole and not just the rugby sides. If this is the case the rest of the business could just be masking the League side of things. I don't know enough about the Leeds operation to speculate any further on that one.

So your conclusion of this link is what ?

Surely any money problems in a sport that struggles anyway is a problem.

according to the article they made a 100k loss.

The club made an operating loss of £324,945, largely due to the unexpected expense of £500k for the South Stand. The figure of £10,599,073 doesn't include the final installment of the sale of the cricket ground (those were on a previous year's accounts IIRC).

Overall, I can't imagine many clubs have increased their turnover by £760k in the past year.

lets kill KD asap!!!

The Rugby League business and income from running Headingley rugby ground and its corporate facilities is the ONLY business Leeds CF&A has had since it sold the cricket ground three years ago. Leeds RU are totally separate, and heavily loss making, entity.

No there isn't. For tax purposes making a loss is better than making a huge profit.