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Financial woes
Discussion started by mrangry , 10 August, 2020 11:48
Financial woes
mrangry 10 August, 2020 11:48
It seems that Tony Rowe is complaining that the Chiefs will face serious financial issues without fans to watch matches. And they are supposed to be the only club actually making a profit. If, as now seems more likely, there are no spectators allowed until either very late this year or into next, does that mean the Chiefs may have to sell/ release players? And what will other clubs without deep ocketed benefactors do? Wither Wasps? are we worried?

Re: Financial woes
Sarriebone 10 August, 2020 12:01
Quote:
mrangry
It seems that Tony Rowe is complaining that the Chiefs will face serious financial issues without fans to watch matches. And they are supposed to be the only club actually making a profit. If, as now seems more likely, there are no spectators allowed until either very late this year or into next, does that mean the Chiefs may have to sell/ release players? And what will other clubs without deep pocketed benefactors do? Wither Wasps? are we worried?

The thing is with Ex is it's not the rugby making any money, it's their conference facilities. In terms of rugby money I doubt they're any better off than any of the other clubs. But right now their outgoings are costing them more money than other teams as well I suspect. That being said if the conference facilities subsidise the rugby then fair play to them, but it seem wrong to call them a profitable rugby club. But that's just me being pedantic. Having the largest squad in the Prem will also cost them more.
Wasps were already in trouble before all this kicked off having lost £6m in the first half of the season, so things can't be looking too rosy for them

Re: Financial woes
Banzaiwarrior 10 August, 2020 13:02
Poor old Tony- Let's have a whip round



ďThe boys have fight in them intrinsically and that comes when you lose tight games together before.But itís also the relationships we have,itís an amazing group to be part of.Everyone on the outside hates us but we donít care,if you come in,you will get so much love you wonít want to leaveĒ B.Vunipola 2017

Re: Financial woes
jonnybrowne 10 August, 2020 13:54
Quote:
Sarriebone
Quote:
mrangry
It seems that Tony Rowe is complaining that the Chiefs will face serious financial issues without fans to watch matches. And they are supposed to be the only club actually making a profit. If, as now seems more likely, there are no spectators allowed until either very late this year or into next, does that mean the Chiefs may have to sell/ release players? And what will other clubs without deep pocketed benefactors do? Wither Wasps? are we worried?

The thing is with Ex is it's not the rugby
making any money, it's their conference facilities. In terms of rugby money I doubt they're any better off than any of the other clubs. But right now their outgoings are costing them more money than other teams as well I suspect. That being said if the conference facilities subsidise the rugby then fair play to them, but it seem wrong to call them a profitable rugby club. But that's just me being pedantic. Having the largest squad in the Prem will also cost them more.
Wasps were already in trouble before all this kicked off having lost £6m in the first half of the season, so things can't be looking too rosy for them

Thatís how I read the interview in TRP a well, being surprised at his frankness and indeed at myself for having bothered to read it in the first place. Must have been the heat. This does tend to put a slightly different slant on all the propaganda, if thatís not too strong a word (Iím sure someone will tell me), coming out at the height of the salary cap storm that Exeter is the only club being run at a profit and apparently still within the salary cap.

Re: Financial woes
Chris1850 10 August, 2020 17:07
Quote:
Sarriebone
Quote:
mrangry
It seems that Tony Rowe is complaining that the Chiefs will face serious financial issues without fans to watch matches. And they are supposed to be the only club actually making a profit. If, as now seems more likely, there are no spectators allowed until either very late this year or into next, does that mean the Chiefs may have to sell/ release players? And what will other clubs without deep pocketed benefactors do? Wither Wasps? are we worried?

The thing is with Ex is it's not the rugby making any money, it's their conference facilities. In terms of rugby money I doubt they're any better off than any of the other clubs. But right now their outgoings are costing them more money than other teams as well I suspect. That being said if the conference facilities subsidise the rugby then fair play to them, but it seem wrong to call them a profitable rugby club. But that's just me being pedantic. Having the largest squad in the Prem will also cost them more.
Wasps were already in trouble before all this kicked off having lost £6m in the first half of the season, so things can't be looking too rosy for them

If we assume that most, if not all the clubs are at, or close to the SC, then then size of the squad is irrelevant.On the one hand Sale have a squad of 34 and they have said that they are pretty well at the cap. On the other hand, Exe have a squad of 70+ and are also likely to be at the cap.

I guess the marquee players, and their salary levels will make some difference



Edited 1 time(s). Last edit at 10/08/2020 17:08 by Chris1850.

Re: Financial woes
Sarriebone 10 August, 2020 18:09
Quote:
Chris1850
Quote:
Sarriebone
Quote:
mrangry
It seems that Tony Rowe is complaining that the Chiefs will face serious financial issues without fans to watch matches. And they are supposed to be the only club actually making a profit. If, as now seems more likely, there are no spectators allowed until either very late this year or into next, does that mean the Chiefs may have to sell/ release players? And what will other clubs without deep pocketed benefactors do? Wither Wasps? are we worried?

The thing is with Ex is it's not the rugby making any money, it's their conference facilities. In terms of rugby money I doubt they're any better off than any of the other clubs. But right now their outgoings are costing them more money than other teams as well I suspect. That being said if the conference facilities subsidise the rugby then fair play to them, but it seem wrong to call them a profitable rugby club. But that's just me being pedantic. Having the largest squad in the Prem will also cost them more.
Wasps were already in trouble before all this kicked off having lost £6m in the first half of the season, so things can't be looking too rosy for them

If we assume that most, if not all the clubs are at, or close to the SC, then then size of the squad is irrelevant.On the one hand Sale have a squad of 34 and they have said that they are pretty well at the cap. On the other hand, Exe have a squad of 70+ and are also likely to be at the cap.

I guess the marquee players, and their salary levels will make some difference

Yes and no, Senior academy players aren't counted in the cap yet still have to paid. It's likely that a good 15/20 of their 70 strong squad are academy players.

Re: Financial woes
myleftboot 10 August, 2020 19:57
Are Chiefs still claiming every Cornwall raised player as a product of their own academy?

Re: Financial woes
Aberavon Wizard 11 August, 2020 09:02
Exeter profit -smoke and mirrors. If they had redeveloped another side of their ground, as they need to do, they would be in loss making territory like everyone else.

Re: Financial woes
Japie 11 August, 2020 13:54
Doesn't Uncle Tony just bung them a load more sponsorship from SW Telecoms if they need to show a profit?

Re: Financial woes
Giggchief 11 August, 2020 14:47
Come on chap, the redevelopment of a stand wouldnít alter profit as its capital expenditure. The only think that would alter profit would be the depreciation/amortisation of the cost.

Re: Financial woes
Giggchief 11 August, 2020 14:49
I think you are probably right! I should imagine if we did not have the backing of SWcomms we would not show a profit. I think the SWComms cash is just disguised as income rather than Equity!

Re: Financial woes
Frobes 11 August, 2020 14:58
If most of the profit comes from hospitality and they are under pressure to re-brand might I suggest Exeter Chefs

Re: Financial woes
Premiership Holiday 11 August, 2020 16:56
Quote:
Frobes
If most of the profit comes from hospitality and they are under pressure to re-brand might I suggest Exeter Chefs

Frobes - made my day that one (Sm22)



My wife has told me that she's considering ending our marriage due to my utter obsession with rugby.

I'm begging her for one more try!

Re: Financial woes
TonyTaff 13 August, 2020 17:50
Quote:
Giggchief
I think you are probably right! I should imagine if we did not have the backing of SWcomms we would not show a profit. I think the SWComms cash is just disguised as income rather than Equity!

I suspect that you are right. Most Sugar Daddies make loans and then write them off. Mr. Rowe writes it off immediately as sponsorship expenditure (that doesn't need to be subjectively valued by an auditing firm, unlike Maro's sponsorship rights).

He can then crow that his rugby club is the only profitable one!



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Re: Financial woes
myleftboot 13 August, 2020 18:25
Could someone wiser than I explain the difference between this and the 'overvaluation' of Maros image rights?!

Re: Financial woes
nedrichards 13 August, 2020 19:16
myleftboot: it's not banned in rugby currently, in football it's basically the entirity of Financial Fair Play...


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