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Article Rating 3.33 Stars

Not nice to see

The following was taken from a Saint Helens site

This has been posted on Red Vee:

Saints have released their accounts for the last season at Knowsley Road (financial year to October, 2010). The key points are:

- Losses are up by £500,000 to £1.38m, and total more than £3m in the last four years

- Turnover basically flat (£4.83m v £4.88m in 2009), which is £1m below its 2006 peak

- Sale price of Knowsley Road to Taylor Wimpey was renegotiated down by £1.625m

- Wage bill was 79% of turnover

- 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."

- The board plans another debt-for-equity conversion

It all makes for very sobering reading.

Here's the last dozen years, other people can judge whether this year's loss is worse than previous, and whether the trend in recent years is one we should be concerned about:

1999 -£569,205
2000 -£1,557,767
2001 -£940,745
2002 -£871,672
2003 -£376,699
2004 +£137,627
2005 -£31,161
2006 -£259,238
2007 -£400,348
2008 -£449,288
2009 -£861,810
2010 -£1,384,706

An interesting discussion is now taking place, a worry for the game ?

In the 11 years this report covers Saints have been in 8 Grand Finals Winning 4 and 6 RL Finals winning 5.
What would the figures be like if they han'nt had this success?.

comment by CSTP (U1453)

posted on 15/8/11

Completely agree with the OP

posted on 15/8/11

Quite frankly the people behind the financial management & marketing of the club should be booted out asap, because clearly they're doing something drastically wrong if the club has spent the last 12 years making losses!

But then again, just like with Premiership Wendyball, a high percentage of turnover is going on wages, which I suppose might explain the team's success over the years. But even so there seems to be an awful lot of financial mismanagement going on (and I don't mean anything underhand, just incompetence really).. and if that is the P&L balance sheet of a successful club, I dread to think what what the likes of Wakefield, Quins & Crusaders' bottom-line numbers look like!

comment by flash (U7336)

posted on 16/8/11

and they slag of hull kr and we have not had as much success as saints or been in super league has long

posted on 16/8/11

Surely this shouldn't be happening with the salary cap in place. I thought only 50% of turnover was allowed for players wages?

comment by 20v (U3691)

posted on 16/8/11

I imagine there are maybe 2 or 3 SL clubs running at a profit, the rest year after year will continue to post a loss. Not good news for the game.

posted on 16/8/11

Big Fella.

I think the 79% shown for wages was to cover all employees including players,hope so anyway.

posted on 16/8/11

the 3 clubs making a profit should really be playing in a league of their own.

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