Pirates under new ownership
Printed From: National League Rugby Discussion Forum
Category: League Rugby - www.leaguerugby.co.uk
Forum Name: The Championship
Forum Description: Discuss the 12 clubs forming the English Championship.
URL: http://www.leaguerugby.co.uk/forum_posts.asp?TID=20606
Printed Date: 31 Jan 2025 at 15:49
Software Version: Web Wiz Forums 12.04 - http://www.webwizforums.com
Topic: Pirates under new ownership
Posted By: Stalwart*
Subject: Pirates under new ownership
Date Posted: 30 Jan 2025 at 11:40
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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. ------------- Pirate |
Replies:
Posted By: Paul10
Date Posted: 30 Jan 2025 at 12:03
| Good luck to them. |
Posted By: Camquin
Date Posted: 30 Jan 2025 at 12:04
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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. ------------- Sweeney Delenda Est |
Posted By: KnightsBoy
Date Posted: 30 Jan 2025 at 12:47
| Good news for a great club |
Posted By: Rothman2
Date Posted: 30 Jan 2025 at 13:38
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That’s great news. Hope all goes well guys. Congratulations 👏👏👏👏
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Posted By: islander
Date Posted: 31 Jan 2025 at 09:12
well done to Pirates... & any tier 2 club that can attract new investment in the current landscape 
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Posted By: Big Eddie
Date Posted: 31 Jan 2025 at 09:56
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'' |
islander wrote:Posted By: Paul10
Date Posted: 31 Jan 2025 at 10:46
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It's not an investment |
Posted By: Big Eddie
Date Posted: 31 Jan 2025 at 14:47
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 future isn't what it used to be'' |
Posted By: islander
Date Posted: 31 Jan 2025 at 15:35
Fair point; interesting to see what level of
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