Ham 69
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« on: 17 February 2009, 11:22:07 » |
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One of the SL clubs wont make it past the end of this season due to financial problems. The decision will be made after the NRC final as to who will take their place. Whoever wins that final will be the only team eligable to apply. Thats why winning the NRC is the most important thing this season and why SOC moved so quickly to axe SM. Just a theory.
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The more that things change, the more they stay the same...
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Huggybear
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« Reply #1 on: 17 February 2009, 11:24:48 » |
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Any SL club having problems are likely to be helped by the RFL/Sky as they wouldn't want to lose face over the clubs they chose.
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ScrumDown
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« Reply #2 on: 17 February 2009, 11:27:25 » |
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I thought you were going to say Ellery Hanley purposely fell over on Dancing on Ice so he could get booted out and come and manage us!  |
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Hogans Apprentice
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« Reply #3 on: 17 February 2009, 11:30:27 » |
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Just think that by winning the NR Cup it puts you right in the lime light and so then the debates start over ' well should this team be in SL? '
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Mr Widnes
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« Reply #4 on: 17 February 2009, 11:38:12 » |
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One of the SL clubs wont make it past the end of this season due to financial problems. Who is that? |
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Once a week all those who wear the famous black and white shall rejoice for it is #Widnesday
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Coulton
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« Reply #5 on: 17 February 2009, 12:02:35 » |
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I think this is a valid point - and the RFL/Sky don't have particularly deep pockets in the current climate. The clubs with particular financial stress in Super League would include Celtic clearly, Salford, Wakefield and Harlequins. 2 of those in "expansion" areas so probably would be saved, but Salford and Wakefield could definitely go.
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Huggybear
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« Reply #6 on: 17 February 2009, 12:06:22 » |
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Maybe I'm naive but I find it hard to understand how any of those clubs can have financial problems.
They're subsidised by SKY plus they don't have to worry about relegation for at least 2 years. Surely all they need to do is put a basic cheap squad together and use the subsidy money to sort out the financial problems? I guess the club involved may still be chancing it by not using the subsidy money wisely in the hope/knowledge that they will get further financial support for the reason I stated, they feel the RFL are unlikely to allow any SL chosen club to fail to avoid embarassment.
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Mr Widnes
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« Reply #7 on: 17 February 2009, 12:08:41 » |
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Maybe I'm naive but I find it hard to understand how any of those clubs can have financial problems.
They're subsidised by SKY plus they don't have to worry about relegation for at least 2 years. Surely all they need to do is put a basic cheap squad together and use the subsidy money to sort out the financial problems? I guess the club involved may still be chancing it by not using the subsidy money wisely in the hope/knowledge that they will get further financial support for the reason I stated, they feel the RFL are unlikely to allow any SL chosen club to fail to avoid embarassment.
Seems like a firefighting task to me, and certainly not condusive to any long term sustainability of a self-sufficient team. That is two fingers up to SOC and the whole business plans submission requirement. Why have a BP when you can't stick to it? |
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Once a week all those who wear the famous black and white shall rejoice for it is #Widnesday
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Stevie
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« Reply #8 on: 17 February 2009, 12:36:59 » |
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One of the SL clubs wont make it past the end of this season due to financial problems. The decision will be made after the NRC final as to who will take their place. Whoever wins that final will be the only team eligable to apply. Thats why winning the NRC is the most important thing this season and why SOC moved so quickly to axe SM. Just a theory.
Very unlikely I'm afraid. Even if true, there would be no guarantee WRLFC would get the nod anyway........rememeber we went through administration. |
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keeper
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« Reply #9 on: 17 February 2009, 13:04:01 » |
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Maybe I'm naive but I find it hard to understand how any of those clubs can have financial problems.
They're subsidised by SKY plus they don't have to worry about relegation for at least 2 years. Surely all they need to do is put a basic cheap squad together and use the subsidy money to sort out the financial problems? I guess the club involved may still be chancing it by not using the subsidy money wisely in the hope/knowledge that they will get further financial support for the reason I stated, they feel the RFL are unlikely to allow any SL chosen club to fail to avoid embarassment.
That as maybe but if they are carrying debts from years previous that need servicing and/or the banks start pulling overdrafts then never mind the paddle, they haven't even got a canoe. Cheers, Keeper. |
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Woke up this morning and I got myself a beer; The future's uncertain and the end is always near.
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Wirralviking
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« Reply #10 on: 17 February 2009, 13:07:29 » |
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I think this is wishful thinking, as the clubs are now in a position to juggle their finances as never before, with the guarantee of 3 lots of superleague cash. OK the banks may be a little less forgiving about overdrafts etc. but the RFL will do all in their power to keep their choices functioning, whoever they happen to be. They bottled out of pulling the plug on Wakey when they had the chance (and Wakey were expecting it!) so they will justify and support their decision.
And has been said we have not been annointed as the heir apparent if anyone did drop out. Sadly we are in for the hard slog!
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scharnhorst
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« Reply #11 on: 17 February 2009, 19:36:03 » |
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One of the SL clubs wont make it past the end of this season due to financial problems. The decision will be made after the NRC final as to who will take their place. Whoever wins that final will be the only team eligable to apply. Thats why winning the NRC is the most important thing this season and why SOC moved so quickly to axe SM. Just a theory.
Indeed it is a theory, but a rubbish one.. In my own humble opinion.  |
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Coulton
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« Reply #12 on: 18 February 2009, 11:30:51 » |
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That as maybe but if they are carrying debts from years previous that need servicing and/or the banks start pulling overdrafts then never mind the paddle, they haven't even got a canoe.
Cheers, Keeper.
This is exactly the point. A number of the clubs in SL are heavily in debt either through bank overdrafts or loans from individuals. Like so many businesses at the moment they are insolvent without that ongoing debt facility - if it is pulled then they can't continue to operate unless they can get funding from elsewhere. I don't know enough about the specific balance sheets of all the clubs in SL but my gut feel is that at least one will be forced into administration in the next 12 months. Watch this space... |
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Mr Widnes
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« Reply #13 on: 18 February 2009, 11:46:22 » |
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Didn't Anthony Worral Thompson say something on the TV last week along the lines of if you owe the bank 10's of millions then you have them by the short and curlies whereas if it is only a few hundred grand they have you by the short and curlies after his restaraunts went bump? Indeed it could well be ominous from a financial perspective but you never know what the RFL has up it's sleeve.
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Once a week all those who wear the famous black and white shall rejoice for it is #Widnesday
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neilw
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« Reply #14 on: 18 February 2009, 13:19:56 » |
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The key poiny here IMO is the 3 yrs licence. Let's face it the RFL are not going to do a review every six months or even every year that's it until 2011 applications at which point I really don't expect them to look into any of the clubs now in SL in terms of their financial stability, development or even grounds. They will simply add a team and not review those already in there. Clubs will be able to show their Creditors the 3yr licence and how much they will be getting over the coming seasons, which should keep them off their backs. Worral thompson could not guarantee how many people were going to come and pay for food in his restaurants so totally different situation, bank gets its money before he runs up more debts and the value of the properties if he owns them decreases day by day. Any Creditor wishing to pull the plug could agree a bigger fee over next few years or tell clubs he/she wants a repayment schedule drawn up to cover next three years. Unless the debt is monumental the club(s) in question would just have to cut back on the quality of their squads after all if you finish bottom no relegation. Better to get you house straight now just in case the RFL get some balls in 2011.  |
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Trust in Widnes
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