Update on Granby Halls hotel

[sammy]

Deal signed - work should start next year. Details from the Mercury here.

https://www.leicestermercury.co.uk/news ... rs-2215283

[Coops]

Would have thought that the LM would actually know the facts about the Premiership and the salary cap:

The positive news comes just weeks after Tigers – which has introduced a two year cap on players wages – announced pre-tax losses of almost £1 million on a record turnover of more than £20 million last season.

reporting

[Ian Cant]

Nothing wrong with The Mercury. The 3rd year of making a loss is more worrying as we have no owner to bankroll this.
Tigers need to put plans in place to make sure the fans get to the ground and support the team and buy the merchandise in the shop ( which is really struggling this season).
If the hotel is like most of Simon Cohen’s dealing with the ‘ world wide hunt for a top coach’ ), then we could be in trouble!
Time to look at Sarries and Exeter like they, a few years ago looked at us!

[ellis9]

Nothing wrong with The Mercury. The 3rd year of making a loss is more worrying as we have no owner to bankroll this.
Tigers need to put plans in place to make sure the fans get to the ground and support the team and buy the merchandise in the shop ( which is really struggling this season).
If the hotel is like most of Simon Cohen’s dealing with the ‘ world wide hunt for a top coach’ ), then we could be in trouble!
Time to look at Sarries and Exeter like they, a few years ago looked at us!

They've reported it wrong though. Tigers haven't brought this 2 year contract plan in, every club must abide by it as I understand.

I don't want to be like Saracens thank you very much!

[Ian Cant]

Agreed Ellis. A bit of lazy reporting or just telling it like Tigers’ did.
The loss of £1 million, over one season,is still a worry though.

[jgriffin]

Agreed Ellis. A bit of lazy reporting or just telling it like Tigers’ did.
The loss of £1 million, over one season,is still a worry though.

But the club is doing something about income, unlike Wasps!

[ourla]

Agreed Ellis. A bit of lazy reporting or just telling it like Tigers’ did.
The loss of £1 million, over one season,is still a worry though.

But the club is doing something about income, unlike Wasps!

The Wasps thing is interesting because Andy Goode, who does have an inside line, is adamant they are financially sound. And in a wider context the talk of a major Prem club hitting problems has been going on for a few years now and Sarries, Bath, etc. are all still in business.

Everyone is making a loss, I understand that... but it's kind of so what isn't it - they are all still in business. Maybe next year....

[mol2]

Not all losses are “bad” and sometimes that might reflect writing off depreciation to avoid paying tax on profits.

In the end having the cash to pay your bills and wages is key. Many businesses that are profitable on paper go under because they don’t have the money in the current account to cover the dat to day spending.

If a sponsor lends a club a £1000000 (with no need to pay it back) they may well seem to have lost £1000000 but if they were given (rather than leant) the same sum they will be in the same financial position but not showing a loss.

[chappie]

All well and good about the development, but unless the club gets it right on the pitch season tickets will fall even more, merchandise will be down, it’s the bread and butter to get a team that can challenge on all fronts, bring success and the crowds will follow, unless things change soon I hate to say but the future looks very bleak at the moment

[tigerssteve]

Nothing wrong with The Mercury. The 3rd year of making a loss is more worrying as we have no owner to bankroll this.
Tigers need to put plans in place to make sure the fans get to the ground and support the team and buy the merchandise in the shop ( which is really struggling this season).
If the hotel is like most of Simon Cohen’s dealing with the ‘ world wide hunt for a top coach’ ), then we could be in trouble!
Time to look at Sarries and Exeter like they, a few years ago looked at us!

They've reported it wrong though. Tigers haven't brought this 2 year contract plan in, every club must abide by it as I understand.

I don't want to be like Saracens thank you very much!

The club shop is struggling because it's overpriced and much of it is utter rubbish. Got the 125 shirt as a gift and it's total :censored:. Training shirt £100!?

[RagingBull]

Agreed Ellis. A bit of lazy reporting or just telling it like Tigers’ did.
The loss of £1 million, over one season,is still a worry though.

But the club is doing something about income, unlike Wasps!

The Wasps thing is interesting because Andy Goode, who does have an inside line, is adamant they are financially sound. And in a wider context the talk of a major Prem club hitting problems has been going on for a few years now and Sarries, Bath, etc. are all still in business.

Everyone is making a loss, I understand that... but it's kind of so what isn't it - they are all still in business. Maybe next year....

Goode has a inside line because he works for them of course he will say they are sound they pay him

[G.K]

Do we know which Hotel group will be running this, I couldn't see that information?

BTW you don't have to take the pie man's view of Wasps Finances, they are published on their website.

[Dangerous4]

It will be interesting to see how the whole scenario pans out. It's more exciting than the rugby is at the current time

[Hot_Charlie]

Do we know which Hotel group will be running this, I couldn't see that information?

The most recent submission, reported last week, was that "An operator for the hotel has yet to be named by the club".