Mail on Sunday article

[RichG]

Interesting article in the Mail on Sunday. Reporting Tigers had a tax debt of £8.4 million & overall debts of £31.4 million. Somewhat out of date as it says they’ve used accounts to end of June 2021.

https://www.dailymail.co.uk/sport/rugby ... ial-crisis.

[Sir Johnno]

Interesting - I have just looked at Tigers accounts to June 2021 and from my reading I think long term debt is approximately £15m and tax/social security owing approximately £3m - I could be wrong!

[Rugbygramps]

I am in no way a financial expert but I do wonder what is included in that figure. Does it include loans made to the club by Peter Tom, and the majority shareholder who’s name escapes me, which I don’t think they are expecting back anytime soon.

[sam16111986]

I've not seen the accounts personally but it would not be surprising if Tigers had set up time to pay arrangements that were still being repaid in June 2021. The club runs as a business and with Covid playing havoc we lost a lot of money. Setting up payment plans to allow us to rebuild the cashflow is a logical plan.

[Tiglon]

Their numbers are correct, but those accounts also seem to show that, at that time, Tigers also had £4m cash and £17m of investments.

Worth pointing out that the "tax debt" is actually deferred tax liability, which means tax due in future, not tax due right now, if I am not mistaken.

Sounds like a bit of a non-story to me. Debt is not, in itself, a bad thing. Tesla has nearly $3bn in debt, for example.

[TigerFeetSteve]

https://twitter.com/spkeene/status/1566 ... 4fqRA&s=19

Good thread here explaining how the figures the mail are posting are *technically* right but laid out in a manner that is highly misleading.

[ourla]

https://twitter.com/spkeene/status/1566 ... 4fqRA&s=19

Good thread here explaining how the figures the mail are posting are *technically* right but laid out in a manner that is highly misleading.

What the Daily Mail misleading, who'd have thunk it

[TigerFeetSteve]

https://twitter.com/spkeene/status/1566 ... 4fqRA&s=19

Good thread here explaining how the figures the mail are posting are *technically* right but laid out in a manner that is highly misleading.

What the Daily Mail misleading, who'd have thunk it

Indeed, reminds me of this old but very apt song...