Club loss of $4.2m

[Benjirific]

In the Tele yesterday, Rothfield had a story about all of the NRL clubs losses last year. Had us down for a $4.2m loss.

Given that the change of board was done to give us more of a business focus & all we've heard from Go & Pascoe is about how good they're doing, how can we just cop a $4.2m loss? How are Wests Ashfield just coping this considering they're chucking in much more money now?

 

[Geo]

Wow Rothy doubled it from December…that's impressive even by his standards...

 

[southerntiger]

Rothfield hates our club, particularly our Chairwoman.

Don't believe a word he says.

 

[Tiger_Watto]

If I was part of a system that is trying to milk money from the ARLC, I'd make sure my paper-loss was significant also.

 

[stryker]

If I was part of a system that is trying to milk money from the ARLC, I'd make sure my paper-loss was significant also.

Spot on

 

[Bones]

If I was part of a system that is trying to milk money from the ARLC, I'd make sure my paper-loss was significant also.

Spot on

Who gives a toss? NRL clubs have been setup forever and a day to be funded by leagues clubs. It is only recent years clubs have even bothered to try and turn a profit from the football club and most still don't. If you take away the primary income from any business the balance sheet is going to look bad.

 

[Tigerdon]

Sloth has an agender

 

[westy81]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

 

[happy_tiger]

Those post match beers and pizzas sure added up after a while

 

[greatodensraven]

Rothfield hates our club, particularly our Chairwoman.

Don't believe a word he says.

Has anyone seen his ladder prediction in the Saturday Tele?

Sharks 1st
Tigers 15th

 

[Benjirific]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

No, it specifically said it was just in 2016, although I'm sure the current management would like you to think we made a profit.

We've only once gone close to breaking even once (around 2011/2012), but like most other clubs in the NRL, we've run at a loss every other year and relied on our Leagues Clubs to find the losses.

But we can just ignore it I guess because we don't like the journo and it doesn't fit the narrative that most people have around the new board and management.

 

[gallagher]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

No, it specifically said it was just in 2016, although I'm sure the current management would like you to think we made a profit.

We've only once gone close to breaking even once (around 2011/2012), but like most other clubs in the NRL, we've run at a loss every other year and relied on our Leagues Clubs to find the losses.

But we can just ignore it I guess because we don't like the journo and it doesn't fit the narrative that most people have around the new board and management.

I think they've spent a lot of money on the football department with new positions. As long as Wests were aware of the extra spending and were prepared to cover the loss with the leagues club grant then theres no problem.
Hopefully Wests are looking to pump more money into the club.

 

[TrueTiger]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

No, it specifically said it was just in 2016, although I'm sure the current management would like you to think we made a profit.

We've only once gone close to breaking even once (around 2011/2012), but like most other clubs in the NRL, we've run at a loss every other year and relied on our Leagues Clubs to find the losses.

But we can just ignore it I guess because we don't like the journo and it doesn't fit the narrative that most people have around the new board and management.

I think they've spent a lot of money on the football department with new positions. As long as Wests were aware of the extra spending and were prepared to cover the loss with the leagues club grant then theres no problem.
Hopefully Wests are looking to pump more money into the club.

There's the thing gallagher,the Wests Group are a very smart and financially strapped company,if they keep backing the WTs we will be in a great position in a couple of years…all this cap and money problems are a panic station or knee jerk reaction at the moment,things will definitely work out for the better for us as a club...

 

[gallagher]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

No, it specifically said it was just in 2016, although I'm sure the current management would like you to think we made a profit.

We've only once gone close to breaking even once (around 2011/2012), but like most other clubs in the NRL, we've run at a loss every other year and relied on our Leagues Clubs to find the losses.

But we can just ignore it I guess because we don't like the journo and it doesn't fit the narrative that most people have around the new board and management.

I think they've spent a lot of money on the football department with new positions. As long as Wests were aware of the extra spending and were prepared to cover the loss with the leagues club grant then theres no problem.
Hopefully Wests are looking to pump more money into the club.

There's the thing gallagher,the Wests Group are a very smart and financially strapped company,if they keep backing the WTs we will be in a great position in a couple of years…all this cap and money problems are a panic station or knee jerk reaction at the moment,things will definitely work out for the better for us as a club...

I hope so. I said at the time of them taking ownership that it is pointless doing so unless they are willing to inject some serious cash into the joint. Its looking good so far. A bit more noise about the COE would be good.

 

[Masterton]

I hope so. I said at the time of them taking ownership that it is pointless doing so unless they are willing to inject some serious cash into the joint. Its looking good so far. A bit more noise about the COE would be good.

Am I the only one surprised the club hasn't ponied up for some decent training facilities? Or is that all on hold at the moment?

 

[southerntiger]

That has to be since inception right ??

I thought last year was our first year we Made profit ?

No, it specifically said it was just in 2016, although I'm sure the current management would like you to think we made a profit.

We've only once gone close to breaking even once (around 2011/2012), but like most other clubs in the NRL, we've run at a loss every other year and relied on our Leagues Clubs to find the losses.

But we can just ignore it I guess because we don't like the journo and it doesn't fit the narrative that most people have around the new board and management.

No we can ignore it because, as you said, most football clubs run at a loss. Thats why the clubs have been pushing for higher NRL grants.

http://www.dailytelegraph.com.au/sport/nrl/phil-rothfield-exclusive-nrl-clubs-lost-a-total-of-534-million-last-year/news-story/37ab595ce2d8ed7ffac1e3adb391708f

If you read the article you will see we are not even mentioned online. Presumably the OP saw a print article where we were mentioned.

 

[Patts]

Having just read WAL's 2016 Annual Report I can tell you their grant to the football club was nowhere near $4.2M - it was in fact $1.4M (however they did spend another $2.7M paying for half of Balmains share so perhaps they are including this in the loss?)
\
\
I'm not expecting massive improvements in training infrastructure in the next few years. As part of the new share holder agreement (ie, the 75%/25% split) Balmain wanted to know up front what their annual contributions would be. This makes sense because the Wests Tigers board (controlled by Wests Ashfield), could have requested contributions from the shareholders that Balmain couldn't afford and effectively sent them to the wall. The contributions planned for the next few years are even lower than what was provided in 2016\. The increase in the NRL grant will probably make this possible.