National League Rugby Discussion Forum Homepage
Forum Home Forum Home > League Rugby - www.leaguerugby.co.uk > The Championship
  New Posts New Posts RSS Feed - Are Ealing a sustainable club?
  FAQ FAQ  Forum Search   Events   Register Register  Login Login

IMPORTANT Remember to read the rules of the board and abide by them when posting.

Are Ealing a sustainable club?
 Post Reply Post Reply Page  <1 345
Author
Message
  Topic Search Topic Search  Topic Options Topic Options
Paul10 View Drop Down
World Cup Winner
World Cup Winner


Joined: 24 Mar 2023
Location: Milton Keynes
Status: Offline
Points: 796 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Paul10 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Jan 2025 at 16:19
Good on 'em.

And long may it last.
Back to Top
The Blues View Drop Down
World Cup Winner
World Cup Winner


Joined: 05 Aug 2007
Status: Offline
Points: 4997 		Post Options Post Options   Thanks (0) Thanks(0)   Quote The Blues Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 01:59
I like how some Ealing supporters get upset with a Blues supporter taking interest in the biggest and best rugby organisation around and highlighting how much Mike Gooley contributes on an annual basis into rugby. 

I think it is interesting for all Championship supporters seeing what their club is up against when facing Ealing. A lot of money and resources, bordering on Premiership level, so if your team gets close to, let alone winning on the pitch your team has done incredibly well. 

As I said Coventry’s turnover is around £2.5m in 2023 (probably higher with bigger crowds) and Bedford Blues is similar I believe. Doncaster Knights have a turnover of £3.8m (2023) of which £2m comes from S Lloyd (mostly) and D Mulder. The way Knights are setup you get to see a lot of detail.

The Stadium is owned by The Mike Gooley Trailfinders Charity, so it is unlikely to have the stadium costs in there.
Back to Top
No 7 View Drop Down
World Cup Winner
World Cup Winner
Avatar

Joined: 10 Oct 2011
Location: LONDON
Status: Offline
Points: 1893 		Post Options Post Options   Thanks (0) Thanks(0)   Quote No 7 Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 10:45
Originally posted by The Blues The Blues wrote:

I like how some Ealing supporters get upset with a Blues supporter taking interest in the biggest and best rugby organisation around and highlighting how much Mike Gooley contributes on an annual basis into rugby. 

I think it is interesting for all Championship supporters seeing what their club is up against when facing Ealing. A lot of money and resources, bordering on Premiership level, so if your team gets close to, let alone winning on the pitch your team has done incredibly well. 

As I said Coventry’s turnover is around £2.5m in 2023 (probably higher with bigger crowds) and Bedford Blues is similar I believe. Doncaster Knights have a turnover of £3.8m (2023) of which £2m comes from S Lloyd (mostly) and D Mulder. The way Knights are setup you get to see a lot of detail.

The Stadium is owned by The Mike Gooley Trailfinders Charity, so it is unlikely to have the stadium costs in there.

Mike Gooley waits tentatively for the annual financial report from the aptly named 'The Blues ' before he buys his wife a Chritmas present . I am not sure she got any Christmas present December 24 after it was stated that Trailfinders were severley strapped for cash and declared insolvent. LOL
Ambition should be made of sterner stuff.
Back to Top
JZSmith View Drop Down
First XV regular
First XV regular


Joined: 27 Aug 2024
Location: England
Status: Offline
Points: 95 		Post Options Post Options   Thanks (0) Thanks(0)   Quote JZSmith Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 11:15
Originally posted by The Blues The Blues wrote:

I like how some Ealing supporters get upset with a Blues supporter taking interest in the biggest and best rugby organisation around and highlighting how much Mike Gooley contributes on an annual basis into rugby. 

I think it is interesting for all Championship supporters seeing what their club is up against when facing Ealing. A lot of money and resources, bordering on Premiership level, so if your team gets close to, let alone winning on the pitch your team has done incredibly well. 

As I said Coventry’s turnover is around £2.5m in 2023 (probably higher with bigger crowds) and Bedford Blues is similar I believe. Doncaster Knights have a turnover of £3.8m (2023) of which £2m comes from S Lloyd (mostly) and D Mulder. The way Knights are setup you get to see a lot of detail.

The Stadium is owned by The Mike Gooley Trailfinders Charity, so it is unlikely to have the stadium costs in there.

As an outsider I suspect what upsets some Ealing supporters is when another outsider's interest is in declaring their club insolvent!

Are you party to the financial capabilities and plans of the directors?
Back to Top
The Blues View Drop Down
World Cup Winner
World Cup Winner


Joined: 05 Aug 2007
Status: Offline
Points: 4997 		Post Options Post Options   Thanks (0) Thanks(0)   Quote The Blues Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 12:44
I have just said what was detailed in the accounts signed by the Directors and Auditor. I don’t understand why there is so much nervousness when Ealing is mentioned. Blues are negative £250k, Pirates looks like it is a big number at £7.4m in 2023. It all shows the amount of money some people put in and are happy to lose for our entertainment!

I have not declared their club insolvent. It’s all in the accounts so only commenting on what is filed. As liabilities are greater than assets by approx £26k (not much really when considering their turnover) at the balance sheet date, a going concern note was made.

The directors have made a statement that the shareholders are committed to provide on going support to allow the company to meet its liabilities as they fall due for a period of no less than 12 months from the date the accounts were signed.

Edited by The Blues - 04 Jan 2025 at 12:45
Back to Top
Camquin View Drop Down
World Cup Winner
World Cup Winner
Avatar

Joined: 01 Jun 2007
Location: Cambridge
Status: Offline
Points: 11577 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 16:06
The same statement is probably made on every Premiership club accounts.

Bristol lost £5.5m last season. 
Sweeney Delenda Est
Back to Top
The Blues View Drop Down
World Cup Winner
World Cup Winner


Joined: 05 Aug 2007
Status: Offline
Points: 4997 		Post Options Post Options   Thanks (0) Thanks(0)   Quote The Blues Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 17:27
Originally posted by Camquin Camquin wrote:

The same statement is probably made on every Premiership club accounts.

Bristol lost £5.5m last season. 


I know which is also what I said, as probably most clubs in the top 2 divisions are technically insolvent. Bath I think I saw are £14m on their 2023 accounts.
Back to Top
Paul10 View Drop Down
World Cup Winner
World Cup Winner


Joined: 24 Mar 2023
Location: Milton Keynes
Status: Offline
Points: 796 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Paul10 Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 18:18
Originally posted by Camquin Camquin wrote:

The same statement is probably made on every Premiership club accounts.

Bristol lost £5.5m last season. 



Same in every sport.

Red Bull F1 owed £125M to Red Bull drinks company at end Dec 23
Back to Top
fatbear View Drop Down
World Cup Winner
World Cup Winner
Avatar

Joined: 13 Sep 2013
Location: Thame
Status: Offline
Points: 2947 		Post Options Post Options   Thanks (0) Thanks(0)   Quote fatbear Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 19:43
The last accounts for Chinnor, to 29 April 2003, show net assets of £317K. The latest accounts are due to be filed in May
Back to Top
Camquin View Drop Down
World Cup Winner
World Cup Winner
Avatar

Joined: 01 Jun 2007
Location: Cambridge
Status: Offline
Points: 11577 		Post Options Post Options   Thanks (1) Thanks(1)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 20:17
Yes but we don't count.
Sweeney Delenda Est
Back to Top
No 7 View Drop Down
World Cup Winner
World Cup Winner
Avatar

Joined: 10 Oct 2011
Location: LONDON
Status: Offline
Points: 1893 		Post Options Post Options   Thanks (0) Thanks(0)   Quote No 7 Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2025 at 23:27
No team counts in the Championship
Ambition should be made of sterner stuff.
Back to Top
JZSmith View Drop Down
First XV regular
First XV regular


Joined: 27 Aug 2024
Location: England
Status: Offline
Points: 95 		Post Options Post Options   Thanks (0) Thanks(0)   Quote JZSmith Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2025 at 11:34
Originally posted by The Blues The Blues wrote:

I have just said what was detailed in the accounts signed by the Directors and Auditor. I don’t understand why there is so much nervousness when Ealing is mentioned. Blues are negative £250k, Pirates looks like it is a big number at £7.4m in 2023. It all shows the amount of money some people put in and are happy to lose for our entertainment!

I have not declared their club insolvent. It’s all in the accounts so only commenting on what is filed. As liabilities are greater than assets by approx £26k (not much really when considering their turnover) at the balance sheet date, a going concern note was made.

The directors have made a statement that the shareholders are committed to provide on going support to allow the company to meet its liabilities as they fall due for a period of no less than 12 months from the date the accounts were signed.

Your initial post says "Ealing are now insolvent"

I even gave you a reference as to what insolvent means but you chose to ignore it and continue to claim you didn't say something which you quite clearly did.

But if you want to keep digging that hole for yourself feel free!
Back to Top
The Blues View Drop Down
World Cup Winner
World Cup Winner


Joined: 05 Aug 2007
Status: Offline
Points: 4997 		Post Options Post Options   Thanks (0) Thanks(0)   Quote The Blues Quote  Post ReplyReply Direct Link To This Post Posted: 5 hours 51 minutes ago at 23:17
Originally posted by JZSmith JZSmith wrote:

Originally posted by The Blues The Blues wrote:

I have just said what was detailed in the accounts signed by the Directors and Auditor. I don’t understand why there is so much nervousness when Ealing is mentioned. Blues are negative £250k, Pirates looks like it is a big number at £7.4m in 2023. It all shows the amount of money some people put in and are happy to lose for our entertainment!

I have not declared their club insolvent. It’s all in the accounts so only commenting on what is filed. As liabilities are greater than assets by approx £26k (not much really when considering their turnover) at the balance sheet date, a going concern note was made.

The directors have made a statement that the shareholders are committed to provide on going support to allow the company to meet its liabilities as they fall due for a period of no less than 12 months from the date the accounts were signed.

Your initial post says "Ealing are now insolvent"

I even gave you a reference as to what insolvent means but you chose to ignore it and continue to claim you didn't say something which you quite clearly did.

But if you want to keep digging that hole for yourself feel free!

Please read the red from your link and then look at the accounts and tell me how the liabilities are not greater than assets.

I will help you, net assets are £315,501 and net liabilities are £658,536 = net liabilities of £343,035.  This warrants a going concern note.

Overall the balance sheet is negative by £26,292.  Suggesting that if everything was converted to cash it would not have sufficient funds to pay its debts.  This means from the numbers it needs additional support, which the shareholders have given, as from the face of it, it can't pay its debts at the balance sheet date.

Not expecting an apology!

A company is insolvent when it can’t pay its debts. This could mean either:

  • it can’t pay bills when they become due
  • it has more liabilities than assets on its balance sheet


Edited by The Blues - 5 hours 28 minutes ago at 23:40
Back to Top
The Blues View Drop Down
World Cup Winner
World Cup Winner


Joined: 05 Aug 2007
Status: Offline
Points: 4997 		Post Options Post Options   Thanks (0) Thanks(0)   Quote The Blues Quote  Post ReplyReply Direct Link To This Post Posted: 5 hours 44 minutes ago at 23:24
Originally posted by Paul10 Paul10 wrote:

Originally posted by Camquin Camquin wrote:

The same statement is probably made on every Premiership club accounts.

Bristol lost £5.5m last season. 



Same in every sport.

Red Bull F1 owed £125M to Red Bull drinks company at end Dec 23

If you want to see the big one look at LIV golf!  Accounts to 31 Dec 2022 turnover of $4.9m and a loss of $243.7m.

Companies House say the 31 Dec 2023 are overdue after what appears to be a 3 month filing extension.  This assumes Companies House has not been slow which is also a possibility. 



Edited by The Blues - 5 hours 41 minutes ago at 23:27
Back to Top
 Post Reply Post Reply Page  <1 345
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.04
Copyright ©2001-2021 Web Wiz Ltd.