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Pirates under new ownership
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Stalwart* View Drop Down
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    Posted: Yesterday at 11:40
The Pirates are under new ownership after a consortium of 4 businesses have taken over the club from Sir Dicky Evans.
The new ownership group is led by current Cornish Pirates board member Martin Hudson, who is associated with the horticulture business that was run by Dicky Evans.
He will be joined in the consortium by Philip Champ, Anthony Whyte and Lee Miles.
Champ is a sponsor and shareholder of the club and runs a medical supply firm, Whyte's scaffolding firm also sponsors the club while Miles runs a hospitality and farming business that supplies the club.
Paul Durkin will stay on as the Cornish Pirates' chairman while Sally Pettipher will continue to act as the club's chief executive.
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Paul10 View Drop Down
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Good luck to them.
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Camquin View Drop Down
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Points: 11671 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: Yesterday at 12:04
If that ensures the continued existence of the club, it has to be great news. Hopefully this means plans can be made in time for next season.

Obviously, we all know that changing owners can be risky, but given that are already long time sponsors, we have to assume that they have the best interest of the club at heart.

Unfortunately, I will not make it to Penzance this season, work means I am travelling.

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KnightsBoy View Drop Down
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Good news for a great club
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Rothman2 View Drop Down
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That’s great news.

Hope all goes well guys. 

Congratulations 👏👏👏👏
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islander View Drop Down
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Points: 7710 		Post Options Post Options   Thanks (0) Thanks(0)   Quote islander Quote  Post ReplyReply Direct Link To This Post Posted: 7 hours 43 minutes ago at 09:12
well done to Pirates... & any tier 2 club that can attract new investment in the current landscape Clap
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Big Eddie View Drop Down
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Originally posted by islander islander wrote:

well done to Pirates... & any tier 2 club that can attract new investment in the current landscape Clap

Or any loss making Premiership side that can attract new investment in the current landscape. 

I have reviewed all the latest accounts filed at Companies House for all 10 Premiership Clubs. Not a single one of them made a profit with the average loss before tax being £3.8m, the biggest loss before tax being a whopping £7.05m and the smallest loss £410k. The average loss is likely to increase because I had to use the 2023 accounts for 4 clubs as they haven't yet filed their 2024 accounts.
''The future isn't what it used to be''
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Paul10 View Drop Down
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It's not an investment
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Big Eddie View Drop Down
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Originally posted by Paul10 Paul10 wrote:

It's not an investment


Correct! No fathomable business model ........just a bottomless pit. I cannot understand when the shareholders of these premiership Clubs will ever get a return on their investment and I don't think they know either........bonkers from a business perspective.
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islander View Drop Down
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Points: 7710 		Post Options Post Options   Thanks (0) Thanks(0)   Quote islander Quote  Post ReplyReply Direct Link To This Post Posted: 1 hour 20 minutes ago at 15:35
Originally posted by Paul10 Paul10 wrote:

It's not an investment


Fair point; interesting to see what level of invest... sorry funding, is anticipated at Pirates after last summer's rather gloomy announcement that there was only funding to stay full-time until December (albeit the 'cut-off' date was subsequently pushed back to end of season...)
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Paul10 View Drop Down
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Points: 821 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Paul10 Quote  Post ReplyReply Direct Link To This Post Posted: 45 minutes ago at 16:10
Originally posted by Big Eddie Big Eddie wrote:

Originally posted by Paul10 Paul10 wrote:

It's not an investment


Correct! No fathomable business model ........just a bottomless pit. I cannot understand when the shareholders of these premiership Clubs will ever get a return on their investment and I don't think they know either........bonkers from a business perspective.

The return isn't financial. It's rugby.

It doesn't make financial sense. I don't think it's meant to.
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