|
|
Post by Woodenose on Apr 8, 2018 19:45:14 GMT
Premiership club Worcester Warriors have reported a pre-tax loss of £8.1m for the 2016-17 season.
Losses for the 12 months up to 30 June 2017 came after the club reported a pre-tax profit of £14.3m a year before.
The profit for 2015-16, however, came after the club's owners - who have put the Sixways side up for sale - wrote off loans worth £20.4m.
In the club's directors report for 2017 it says the Warriors remain reliant on shareholders for financial support.
The struggling top flight club's 2016-17 accounts, from their six-man board, were revealed by Companies House on 29 March 2018.
|
|
|
|
Post by Woodenose on Apr 10, 2018 12:37:14 GMT
CHAIRMAN Bill Bolsover admitted Worcester Warriors’ level of spending during last season was “not sustainable” after registering losses of £8.1million.
But he insisted they were making “significant improvements” financially due to an upturn in commercial performance.
In the 2015-16 season the Aviva Premiership outfit announced a pre-tax profit of £14.3million which wrote off loans of £20.4million.
But 12 months on and with wages rising from 9.6million to £11.1milion Warriors have become increasingly reliant on their shareholders as losses escalated... Now that IS a wage bill
|
|
|
|
Post by Brooksiders Return!! on Apr 10, 2018 13:23:04 GMT
Agreed, but with 75 full time staff , 52 players and a total employee count of 341 the wage bill is going to be in the millions. 32 coaches? Thats the professional game I guess!!
|
|
|
|
Post by wcfcwarwick on Apr 10, 2018 16:28:08 GMT
Will WRFC look at trying to gain some portion of control, somehow, of WCFC as a potential alternative source of income or as a way of spreading their eggs across different baskets? I know ground tenure is an issue in the EFL but is it an issue at WCFC’s level of football?
I am not that keen on Sixways both in terms of its design or its location but beggars can’t be choosers and all that. If WRFC’s owners are trying to sell their club their offer is much more attractive if the package includes a sleeping giant “soccer” team with a catchment of 200,000 people. The latest figures seem to show that only Exeter Chiefs make money out of rugby whereas some football clubs do declare a profit. WRFC could throw in low-league football matches as a free add-on to its rugby season tickets to give the football club’s matches some free atmosphere and to create revenue for food and beverage sales. Even a the inclusion of a football team for which WRFC has only 49% control like in Germany would make the package more attractive to potential buyers than a package that includes on the rugby team.
|
|
harley
Squad Member
Posts: 241
|
Post by harley on Apr 10, 2018 17:12:32 GMT
It is forgotten in all this that the business that is known as Worcester Warriors do not own the land they play on, that is still belongs to Worcester Rugby Club and is the reason the owners of the Warriors are struggling to find a buyer
|
|
|
|
Post by wcfcwarwick on Apr 10, 2018 21:49:16 GMT
You’re right. It’s often forgotten, and I’d forgotten it. In a way WCFC and Warriors are both protected and both held back by constitutions. No-one can buy Warriors and sell the ground but also no-one will want to invest big bucks in the team if they can be evicted from the stadium. No-one from Qatar can take total control of City and take them to the Premier League yet also no-one from Qatar can take total control of City, run them down and then sell the..........well, you get my drift.
|
|
|
|
Post by thesecondjack on Apr 11, 2018 10:41:25 GMT
I might be wrong, but I thought that Warriors purchased/were gifted Sixways Stadium a couple of years back off Worcester Rugby Club - but the training pitches/surrounds are still owned by WRC. I've not done that much looking into it so could be completely wrong.
|
|
harley
Squad Member
Posts: 241
|
Post by harley on Apr 12, 2018 6:55:39 GMT
I might be wrong, but I thought that Warriors purchased/were gifted Sixways Stadium a couple of years back off Worcester Rugby Club - but the training pitches/surrounds are still owned by WRC. I've not done that much looking into it so could be completely wrong. I think Warriors own everything but Worcester Rugby Club still have the freehold of the playing area. Even though Warriors installed the all-weather surface and maintain it, WRC lease that rectangle of land to them, and from what I've been told that is the sticking point in the negotiations with new investors |
|
|
|
Post by alwaysnextyear on Oct 1, 2018 11:41:10 GMT
|
|
|
|
Post by Dodger on Oct 1, 2018 13:14:47 GMT
If Hampson is still "between failures", maybe there's an opening for him?
|
|
|
|
Post by alwaysnextyear on Oct 2, 2018 10:48:56 GMT
|
|
|
|
Post by Tim Munslow on Oct 2, 2018 11:08:49 GMT
Blimey: I think Warriors fans should be aware of this, although of course since the deal's gone through it's the proverbial stable door situation.
|
|
|
|
Post by richwidd on Oct 2, 2018 13:17:19 GMT
I thought it was a joke when I heard the name on the Radio yesterday, I find it incredible that the Warriors Owners wouldn't know the History. Get ready for, "Warriors are unsustainable and we are moving the franchise to [insert any failing Championship Club with a decent ground]". At least Worcester Rugby Club are still there. Here's a thought though, we could soon be the best run and biggest club in Worcester. |
|
|
|
Post by Dodger on Oct 2, 2018 14:47:49 GMT
If coments from Swindon Town supporters are a reasonable, if not a true, reflection, Warriors will be dead and buried in no time. It would seem he promised big investments, expansion, and so on, whilst slowly taking the cash.
|
|
