Quote Dave T="Dave T"Wouldn;t disagree with that. Not 100% sure how it works, but I don't feel that all the TV money should just be split between the clubs anway. '"
Leighton Samuel has stated that he has had to put in £1.7 Million just to keep Celtic going for half a season. You’re probably looking at a shortfall, by the end of the season of over two £2 million.
There has been an increase in the TV money SL clubs now get – what is it - £1.2/£1.4 Million? I'm sure each of the other SL clubs could release £100, 000k of that to support the Licence/expansion policy which they voted on to introduce?
This would leave Celtic with a more acceptable shortfall of around £700,000k, which may be helped by the RFL taskforce finding corporate funding for them. It is clear that Dekor (Leighton Samuel’s company) is not in a position to fund CC’s current deficit. In recent years it has barely run on breaking even and they have only made a pre-tax profit of just over £300,000k. That is nowhere near enough to sustain CC’s losses.
If there are clubs, which cannot afford to lose the £100,000k over the next two years, then this should be a major tick against their financial area of the 2011 Licence bid.
It would be wrong to use RFL money that is earmarked for areas outside SL (god knows that’s little enough) to keep CC in SL. No Sport England monies should be used either. So that just leaves one place it can come from. They will have until next season to budget for this, so there shouldn’t be too much of a problem. SL clubs wanted the new licence/expansion system, so they either pay for it or….
Quote Dave T="Dave T"One last point though, there is no indication that Celtic are struggling financially. They too have a rich backer, and so far, apart from rumours, nothing suggests they are at risk of going bust. Where they do seem to be struggling is with the experience and knowledge of running a full time team in an expansion area'"
Leighton Samuel has plenty of experience in running a rugby club. I think it is quite clear that Celtic are in severe financial trouble. The revelations that have been shown to be true over the last few days are a testament to that. The fact that LS has already admitted to having to pump £1.7 Million of his own money in, just half way through the season is yet another indication of the financial situation down in Bridgend. .
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