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Re: Irish consortium takeover
Mark W-J (IP Logged)
24 January, 2018 13:40
Scottish and Welsh have both investigated it in the past. Just over two years ago, our (LW) chairman told us that talks were progressing: the RFU were happy with it, the SRU were supportive, the IRFU were 'cautiously supportive' and Premier Rugby were dead against it.

So it could happen, but if you think you've got problems with cashflow in the Premiership you seriously need to consider what happens when you lose the millions from Premier Rugby and aren't treated as a fully-funded franchise of the IRFU.

 
Re: Irish consortium takeover
HMRH (IP Logged)
24 January, 2018 14:34
What a load of trap - RFU benefits from all
Clubs on AP based on EQP levels. Welsh and scottish were finance victims not any made up plot.

PRO14 maybe but can’t see why a club under RFU could or would take that step - S.A. clubs was money move and to test waters. Maybe LI could do the same with Pro 14 biut personally it’s the English AP I want us to be in

 
Re: Irish consortium takeover
jimbo800 (IP Logged)
24 January, 2018 14:41
I just find the timing of this approach to sell, appalling. We’re in a relegation battle and they’re knocking on the door wondering if we fancy giving up completely.

 
Re: Irish consortium takeover
glensman (IP Logged)
24 January, 2018 20:54
Dr. V,

2nd last para. of your post," unfortunately for us our brand both makes and "BRAKES" us, did you mean "BREAKES"???.

It's you who needs the dictionary pal.

 
Re: Irish consortium takeover
GHA (IP Logged)
24 January, 2018 22:48
Quote:
glensman
Dr. V,
2nd last para. of your post," unfortunately for us our brand both makes and "BRAKES" us, did you mean "BREAKES"???.

It's you who needs the dictionary pal.

Breaks

 
Re: Irish consortium takeover
DrV'sHairyCraic (IP Logged)
24 January, 2018 22:52
Quote:
glensman
Dr. V,
2nd last para. of your post," unfortunately for us our brand both makes and "BRAKES" us, did you mean "BREAKES"???.

It's you who needs the dictionary pal.

Nope. I meant it slows us down!

 
Re: Irish consortium takeover
Anonymous User (IP Logged)
24 January, 2018 23:28
Quote:
glensman
Dr. V,
2nd last para. of your post," unfortunately for us our brand both makes and "BRAKES" us, did you mean "BREAKES"???.

It's you who needs the dictionary pal.

Said the internet person that asked if the poster meant breakes. FYI a single question mark is sufficient and the number of quotation marks should not be odd.

 
Re: Irish consortium takeover
glensman (IP Logged)
25 January, 2018 07:02
The time has come to face the reality that we cannot survive as a professional rugby club.
The business model is unsustainable.

Our accumulated debt, by the end of this season, will be in the region of GBP 25 million.

Average attendance at home games has fallen from 15,900 in 2012 to 5,900 for 2017/18.

The latest accounts filed for y/e 2016 show the following;

Rugby income GBP 1.4 million

Commercial income GBP 2.7 million

RFU income GBP 4.7 million

Total GBP 8.8 million

Payroll GBP 7.6 million [104 staff]

Directors remuneration GBP 150.000 [GBP 92,000 for y/e 2015]

Crossan's comments, if they are true," we are debt free and not losing money" and "the Club is in a good place", as CEO he has a fiduciary duty to explain this as it's wrong and misleading.

I cannot see anyone taking on a debt burden of GBP 25 million and annual losses of 3/4 million for a relegated Club [probably].Unless.....57 acres of prime real estate is the key.Once planning permission is granted the Club is liquidated with all the debt, it used to be called asset stripping.

 
Re: Irish consortium takeover
HMRH (IP Logged)
25 January, 2018 08:53
About time you bailed to watch the amateur club and save your self all the stress

 
Re: Irish consortium takeover
glensman (IP Logged)
25 January, 2018 09:39
So HMRH, what is your plan for survival?

I became a Life Member of LIRFC in 1981.I have seen good times and bad times since then but we survived.Nothing came close to the current situation we are in right now.

It grieves me to see just how far we have fallen.

We are better than this.

So HMRH, tell us about your grand plan for survival and don't forget to send a copy to Mick Crossan.

 
Re: Irish consortium takeover
Johnswlondon (IP Logged)
25 January, 2018 14:36
Quote:
glensman
The time has come to face the reality that we cannot survive as a professional rugby club.
The business model is unsustainable.

Our accumulated debt, by the end of this season, will be in the region of GBP 25 million.

Average attendance at home games has fallen from 15,900 in 2012 to 5,900 for 2017/18.

The latest accounts filed for y/e 2016 show the following;

Rugby income GBP 1.4 million

Commercial income GBP 2.7 million

RFU income GBP 4.7 million

Total GBP 8.8 million

Payroll GBP 7.6 million [104 staff]

Directors remuneration GBP 150.000 [GBP 92,000 for y/e 2015]

Crossan's comments, if they are true," we are debt free and not losing money" and "the Club is in a good place", as CEO he has a fiduciary duty to explain this as it's wrong and misleading.

I cannot see anyone taking on a debt burden of GBP 25 million and annual losses of 3/4 million for a relegated Club [probably].Unless.....57 acres of prime real estate is the key.Once planning permission is granted the Club is liquidated with all the debt, it used to be called asset stripping.

As I said earlier in this thread you wont get planning permission on most of the site - that's why it is still green (well brownfield really)

 
Re: Irish consortium takeover
LI Bohemian (IP Logged)
25 January, 2018 16:22
Quote:
glensman
So HMRH, what is your plan for survival?
I became a Life Member of LIRFC in 1981.I have seen good times and bad times since then but we survived.Nothing came close to the current situation we are in right now.

It grieves me to see just how far we have fallen.

We are better than this.

So HMRH, tell us about your grand plan for survival and don't forget to send a copy to Mick Crossan.

Glensman, Glensman, Glensman I'm sorry to hear that you are grieving for how far we have fallen, but i do wish you would use better wording to describe your feelings as I find it hard to take you that seriously.
Keep up the pessimistic bleating though.

 
Re: Irish consortium takeover
glensman (IP Logged)
25 January, 2018 21:23
Putting your lame attempt at sarcasm to one side, do you have any idea as to how we get out of this mess?.If you do let us know.

Try to keep the tone of the conversation on a constructive note.

Don't forget to copy Mick Crossan.

 
Re: Irish consortium takeover
Finno (IP Logged)
25 January, 2018 23:10
Oh dear, Guys this is starting to get tedious!

I keep returning to this thread, hoping to get some real news, only to read kids squabbling!(Sm151)

 
Re: Irish consortium takeover
John H (IP Logged)
26 January, 2018 01:00
Quote:
Oh dear, Guys this is starting to get tedious! I keep returning to this thread, hoping to get some real news, only to read kids squabbling!

Well said Finno, I feel exactly the same. This was always the first site I visited when I switched on, now with a few exceptions, it is so tiresome, childish and unconstructive.

 
Re: Irish consortium takeover
glensman (IP Logged)
26 January, 2018 04:07
I couldn't agree more.

As I said in my earlier post today, "try to keep the tone of the conversation on a constructive note".

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