Quote madasmcmadammcmad2="madasmcmadammcmad2"
Re Valley Parade,
last time we ventured down there we lost 5,000 supporters,if that was repeated we would be left with hardly no support at all,so that would be a gamble.'"
Indeed
Plus we are committed to making payments at Odsal under the terms of the various connected lease arrangements.
Also I am not sure why some people seem to assume that we could move in to a new home at VP for a song. Last time this was discussed it was pretty clear that the rent would be nearer an arm and a leg than a song.
Quote madasmcmadammcmad2="madasmcmadammcmad2"Re Debt--Yes managed DEBT is what makes the business world go around,but head in the sand management has no place in business and I am afraid that is what we HAD and only now when all chickens are coming home to roost is all this coming out into the open.'"
You are of course right about managed debt, but I'm afraid there are plenty on here who have no clue about it, and think no business should have any debt, and should operate purely with cash it has in the till. They don't understand that it isn't whether you're in debt, but rather whether you use the loan/s well and can service that debt. They wouldn't get the fact that successful businesses normally have very significant borrowings.
Unless a very large sum of money has gone walkies though - and not even our worst enemies and trolls have suggested that sort of thing - then it is worth not losing sight of the seeming fact that the debts run up must therefore all have been spent on running the club in the 2013 season, not down the bookies or whatever. Presumably therefore a mixture living beyond your means, failing to keep close (or any) check of cashflow, getting into repeated hock, and hoping something would turn up (it never does).
The only thing I would add though is that sadly rugby league clubs are not really a "business" in the sense that they are attractive as somewhere for "businessmen" to "invest" money. They are one of the best and easiest way to do in your bollox, year after year, and that is why invariably the top clubs have a wealthy benefactor who is prepared to do precisely that.