Glaws bailed out of financial ruin!

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Bill W (2)
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Glaws bailed out of financial ruin!

Post by Bill W (2) »

http://news.bbc.co.uk/sport1/hi/rugby_u ... 562722.stm

it's been a difficult year" said Nottage. "Gates are down, corporate and shop sales are down, and all that has an impact. The squad salary cap is £4.2m, but the money coming to us [from the Rugby Football Union] is only £2m. There is a shortfall and to compete at this level you have to go to the top of the salary cap."
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drc_007
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Re: Glaws bailed out of financial ruin!

Post by drc_007 »

I saw that article, a £700,000 loss for one of the better supported sides, they do apparently however have a squad of 51 players.

Edit

More details
http://planetrugby.com/story/0,25883,16 ... 82,00.html
Bill W (2)
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Re: Glaws bailed out of financial ruin!

Post by Bill W (2) »

So PRL increase salary cap by £0.5M and Glaws loss goes to £1.2M.
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GEH
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Re: Glaws bailed out of financial ruin!

Post by GEH »

With our failure to progress in Europe our loss could be higher - watch this space.
Tigerbob
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Re: Glaws bailed out of financial ruin!

Post by Tigerbob »

Yes - but think of the win bonuses we'll not have to pay out though!
Kinoulton
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Re: Glaws bailed out of financial ruin!

Post by Kinoulton »

Someone who is, let's see, my dog's babysitter's live-in-lover's illegitimate son's schoolteacher's personal masseuse's bus driver.....

Told me that Tigers had hoped for a 24,000 sell-out every week with the new stand, and had an absolute bottom-line budget of 18,000 per home game.

Attendances have fallen towards the wrong end of that band, so whilst we can pay our way, there might not me too much bubbly at the shareholders' meeting.
Kicks and scrums and ruck and roll.....Is all my brain and body need!
bluntiger
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Re: Glaws bailed out of financial ruin!

Post by bluntiger »

Expecting a sell-out each week is way too optomistic, we only sold out 6 times last season (17498) but we have sold out 4 times this season (24000).

We have averaged 21483 this season compared to 17372 last season - an increase of 4111 per game average.
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tb1
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Re: Glaws bailed out of financial ruin!

Post by tb1 »

If they were hoping for sell-outs every game that is absolutely bonkers.

Recently several blocks in the corners of the CAT have been bulk sold to kids organisations and what not. Cant be paying full price.
1966
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Re: Glaws bailed out of financial ruin!

Post by 1966 »

Please feel free to correct me anyone, but with 3 fairly attractive home games and a probable home play off game to come we should end up attracting just short of 400,000 to Welford road this season.

If fan's are parting with, on average, £25 a go that should give the club revenue of £10m.

With a salary of cap of around £4m where is the rest of the money going if we are supposed to be financially strapped?
Bill W (2)
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Re: Glaws bailed out of financial ruin!

Post by Bill W (2) »

1966 wrote:Please feel free to correct me anyone, but with 3 fairly attractive home games and a probable home play off game to come we should end up attracting just short of 400,000 to Welford road this season.

If fan's are parting with, on average, £25 a go that should give the club revenue of £10m.

With a salary of cap of around £4m where is the rest of the money going if we are supposed to be financially strapped?
Ground and match expenses - £8.5M
Admin costs £1.7M
Depreciation £0.5M
Other Staff costs £3.5M
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kingol22
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Re: Glaws bailed out of financial ruin!

Post by kingol22 »

we also make quite a bit of revenue by renting out the vip rooms for corporate events. so i think they will break even or make a small loss which i think they said was expected.
Bill W (2)
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Re: Glaws bailed out of financial ruin!

Post by Bill W (2) »

kingol22 wrote:we also make quite a bit of revenue by renting out the vip rooms for corporate events. so i think they will break even or make a small loss which i think they said was expected.
Alalysis of turnover (for last year)

Rugby income £5M
PRL income (RFU) £3M
Commercial Income £9M
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Kinoulton
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Re: Glaws bailed out of financial ruin!

Post by Kinoulton »

The reason for Tigers' money concerns is entirely down to the cost of the new stand, so I'm told.

In the long run, it's going to be fantastic for the club. But right now they have bills to pay.
Kicks and scrums and ruck and roll.....Is all my brain and body need!
tigerburnie
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Re: Glaws bailed out of financial ruin!

Post by tigerburnie »

I might live a long way away,but I'm keeping the online shops tills ringing.

COME ON YOU TIGERRRRRRRRRRRRRRRRRRRs
"If you want entertainment, go to the theatre," says Edinburgh head coach Richard Cockerill. "Rugby players play the game to win.15/1/21.
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Re: Glaws bailed out of financial ruin!

Post by 4071 »

GEH wrote:With our failure to progress in Europe our loss could be higher - watch this space.
Progressing in Europe is not a major money-spinner. The big money comes from qualifying in the first place - that secures three home games and a big share of the TV revenue. The extra revenue for going on to the knock-out stages is proportionally smaller.

The idea that Leicester brought in the lawyers to take down the Ospreys because they needed the revenue from the HC to avoid getting into severe financial difficulties is purely a messageboard phenomenon and has no basis in reality.

Basically, it sprung up out of nowhere because Ospreys fans were desperate to know that Leicester were suffering.

There is more money in progressing in the HC, but not enough that the loss of that revenue is problematic.
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