General Zod. wrote:Whilst at work yesterday, a fellow Rovers' fan said that whilst listening to the start of BBC Radio Humberside's Sports Talk programme on Tuesday night 29th Dec, David Burns allegedly stated he believed the HDM reports regarding Rovers to be £3M in debt to be "not right" having spoken to a figure "high up" at Rovers.
David Burns allegedly stated that he understands the HDM have based the £3M figure on "one sheet" and have not taken into account other factors such as £1M+ in season passes alone amongst other factors and
he allegedly understands a more accurate figure to be around the £1M bracket.
Whilst David Burns loves his football, I do know he has a very good relationship with the Rovers board and Radio Humberside's track record in terms of it's accuracy of reporting of Rugby League is generally proven to be very accurate.
I like many others initially made the mistake of taking the £3M figure at face value which demonstrates that at this time, it is more important than ever that Rovers fans trust our Chairman and current in board and are not swayed by stories routed in the extraordinary pressures journalists face to fill column inches and of course the bitter and twisted across the river who will feed like parasites and leeches off such stories whilst they struggle to come to terms with their team and coaches' proven track record of continual and repetitive failure when it comes down to "walking the walk".
Whilst £1M of debt still isn't good reading (at face value) we have to understand that our debts have to be viewed in the context of the necessary investment that was needed as a promoted SL club and also operating at the maximum salary cap. I have total and complete trust in our Chairman and the Board in the direction they are taking the club and I hope my fellow Rovers fans' are too.
Roll on the start of the season then normal service can be resumed and the parasites and leeches will again resort to "excuse finding" and the "blame game" and this will be yet another redundant quote in Mrs Barista's recycle bin...
Hilarious that David Burns is now your chosen financial expert. You clearly didn't hear the insightful analysis RH gave on Hull City's finances. The fact that he's talking about "one sheet" should be evidence enough that this is not his area of expertise
Sadofsky's have prepared the accounts and declared total liabilities of £3.16m. Of course there are assets to offset this amount, hence the net liabilities number of -£1.5m, this point has already been made several times.
The season pass income shown as creditors is a point also that has been made previously. However, think about what the other balance sheet entry is for that cash coming in. Debit cash, Credit deferred income. But the balance of cash at bank is only £16k. So you would think the Debit would go against overdraft/borrowings. Which are also in creditors.
Of course, these accounts are before the 2009 losses of £450k which Hudgell has already discussed, and before 2010 when you are unlikely to breach the 10,000 average attendance he says is required for breakeven. As I have suggested before, the big undone for Rovers is the retail operation. When you are open, as Hudgell has been, TBF, about the unsustainable position, but then spend on another big contract for Clinton (who will undoubtedly be on a big wedge coming on a 1 year deal as Bronco's biggest earning forward), yet let the retail side of things go by the wayside, this must surely be a questionable allocation of resources? As I've said before, if FC can finish 12th and turn over £1m in the shop, surely the potential for Rovers who finished in the play-offs to do the same is there?
