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Worcester winding up order
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Points: 260 		Post Options Post Options   Thanks (0) Thanks(0)   Quote paddym Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 22:01
Originally posted by dropout22 dropout22 wrote:

Originally posted by Richard Lowther Richard Lowther wrote:

Originally posted by dropout22 dropout22 wrote:

Originally posted by Mark W-J Mark W-J wrote:

Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.

Quite deep

£45million according to Google. 

Is that quite deep? It's certainly a lot deeper than mine but you can quickly burn through that with big losses each year. 

What is London Irish's deal with Brentford over the stadium revenue - especially bars - for each game? 

I've understood from speaking to business partners of his he's around the 300m mark. 

They wanted £300,000 a year for the shirt sponsorship he was covering.

I'd imagine a split of bar monies and ticket sales, and not much more then that...

As far as I am aware Irish get all monies from ticket sales as they pay a fixed cost for use of stadium. Bar and catering is split unlike deal with Madejski.
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Wasps join the HMRC party…
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Points: 516 		Post Options Post Options   Thanks (0) Thanks(0)   Quote dropout22 Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 19:36
Originally posted by Richard Lowther Richard Lowther wrote:

Originally posted by dropout22 dropout22 wrote:

Originally posted by Mark W-J Mark W-J wrote:

Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.

Quite deep

£45million according to Google. 

Is that quite deep? It's certainly a lot deeper than mine but you can quickly burn through that with big losses each year. 

What is London Irish's deal with Brentford over the stadium revenue - especially bars - for each game? 

I've understood from speaking to business partners of his he's around the 300m mark. 

They wanted £300,000 a year for the shirt sponsorship he was covering.

I'd imagine a split of bar monies and ticket sales, and not much more then that...
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The Premiership clubs are living in fantasy land.

Wasps need to increase revenue by £500,000 every home game - that is what 25,000 extra fans at £20 a ticket, £25 with VAT.

They cannot give away that many tickets.

That is with the RFu funding them to the tune of several million a year.

Unfortunately, Rugby is a minority sport in England, with 10% of the market at best. The French clubs, play in a larger country where there is less interest in Soccer. So they can get bigger gates and more TV money.

Our clubs are never going to be able to compete on salary with that.

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Points: 6528 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Richard Lowther Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 14:23
Originally posted by Richard Lowther Richard Lowther wrote:

Originally posted by dropout22 dropout22 wrote:

Originally posted by Mark W-J Mark W-J wrote:

Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.

Quite deep

£45million according to Google. 

Is that quite deep? It's certainly a lot deeper than mine but you can quickly burn through that with big losses each year. 

What is London Irish's deal with Brentford over the stadium revenue - especially bars - for each game? 

£3.5M (rounded up) loss on last accounts, £5.5 accounts before. 
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Points: 6528 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Richard Lowther Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 14:10
Originally posted by dropout22 dropout22 wrote:

Originally posted by Mark W-J Mark W-J wrote:

Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.

Quite deep

£45million according to Google. 

Is that quite deep? It's certainly a lot deeper than mine but you can quickly burn through that with big losses each year. 

What is London Irish's deal with Brentford over the stadium revenue - especially bars - for each game? 
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Points: 6528 		Post Options Post Options   Thanks (1) Thanks(1)   Quote Richard Lowther Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 14:06
The plain and simple truth is that clubs are still spending too much money on players and this leads to all their financial problems. Covid is a smokescreen - and for some a godsend as it opened up new financial packages. 

Until clubs - at all levels - realise this, the same thing will keep happening. 

The interesting thing is what happens at the next RFU/Premiership deal. Will the RFU finally stand up to the demands of the clubs and decrease the amount of subsidiaries they give - or will it be another cave in to the detriment of the 'community game'?
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Points: 516 		Post Options Post Options   Thanks (0) Thanks(0)   Quote dropout22 Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 13:43
Originally posted by FHLH FHLH wrote:

Originally posted by Fly Half Fly Half wrote:

Sounds very similar to Exeter.

Isn't Exeter's business model based around the Sandy Park complex, which perhaps took a hit during Covid.

Time for Premiership clubs to lose marquee players, cut foreign players and reduce salary cap

Not a chance

It's already bad enough, either scrap the salary cap or up it!.

How far do we want to fall behind?
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Points: 6211 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 13:42
Originally posted by tigerburnie tigerburnie wrote:

Originally posted by FHLH FHLH wrote:


Time for Premiership clubs to lose marquee players, cut foreign players and reduce salary cap
I think you'll find they already are. What is really needed is an RFU that knows what it's doing, puts in place proper checks like soccer does and enforces them..........oh and ditch the Gin and Prawn sarnies.
Quite. Dream on though.
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Points: 516 		Post Options Post Options   Thanks (0) Thanks(0)   Quote dropout22 Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 13:41
Originally posted by Mark W-J Mark W-J wrote:

Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.

Quite deep
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Points: 3646 		Post Options Post Options   Thanks (0) Thanks(0)   Quote tigerburnie Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 12:23
Originally posted by FHLH FHLH wrote:


Time for Premiership clubs to lose marquee players, cut foreign players and reduce salary cap
I think you'll find they already are. What is really needed is an RFU that knows what it's doing, puts in place proper checks like soccer does and enforces them..........oh and ditch the Gin and Prawn sarnies.
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Points: 5265 		Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 12:08
Originally posted by Fly Half Fly Half wrote:

Sounds very similar to Exeter.

Isn't Exeter's business model based around the Sandy Park complex, which perhaps took a hit during Covid.

Time for Premiership clubs to lose marquee players, cut foreign players and reduce salary cap
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Points: 6211 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 09:58
Originally posted by Camquin Camquin wrote:

Not just Wuss in trouble
Wasps are in default on their bond and in dispute with CCFC over the state of the pitch.
They have not entered a CVA or administration yet, but.
Losing 10 mil a year, even before covid, and defaulting on bonds is not a good look. It's difficult to see a way out for them.
City are apparently going to be paying for the pitch, with an arrangement for Wasps to pay it back. Good luck with getting blood out of a stone Joy.
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Points: 6211 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kimbo Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 09:53
Originally posted by tigerburnie tigerburnie wrote:

Diamond responded saying it was all in hand and he wasn't concerned, basically they are ok if covid doesn't shut the game down again.
Is he also known as Shugs by any chance?
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Diamond responded saying it was all in hand and he wasn't concerned, basically they are ok if covid doesn't shut the game down again.
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Points: 105 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Fly Half Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 08:38
Thanks for that Mark WJ, must be worrying though when the owner is also the shirt sponsor. Essentially, total reliability on a single person. Sounds very similar to Exeter.
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Points: 3652 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mark W-J Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 08:23
Irish are owned by Mick Crossan, who is the primary shareholder in their shirt sponsor, Powerday.  Not sure how deep his pockets are.
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Points: 105 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Fly Half Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 08:11
I think we have all known that Wasps and Worcester have had long standing financial problems but I've always wondered how London Irish are sustainable. Do they have a money man?
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Points: 3256 		Post Options Post Options   Thanks (0) Thanks(0)   Quote kingsheathlad Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 07:35
The days when HMRC allowed a time to pay agreement appear to have gone, its a case  of  approach your bank for funds. 
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Points: 11158 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 18 Aug 2022 at 00:04
Not just Wuss in trouble
Wasps are in default on their bond and in dispute with CCFC over the state of the pitch.
They have not entered a CVA or administration yet, but.
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