Northampton Saints
News: Ten out of ten for Northampton Saints
By COYSDC
August 27 2010
Northampton Saints plc, the parent company of Aviva Premiership Rugby semi-finalists Northampton Saints, has declared a financial profit for the tenth consecutive season.
The company's report and accounts for the year ended May 31st, 2010 disclosed a net profit for the year after tax of £521,048, up from the £16,283 recorded in 2009. This figure was built on a record level turnover of £12.033 million that reflected the Saints team's successful playing season which included a Premiership Rugby semi-final and the only English place in the knock out stages of the Heineken Cup.
In finishing runners-up and achieving a first ever home semi-final, the Saints earned more league wins than any other team in the Premiership table. Furthermore, the Saints also won the 2010 LV= Cup trophy, representing a first major domestic title.
Chief executive Allan Robson says that he was delighted with the club's performances on and off the field and that the record level of turnover and increased profits were a solid foundation for Northampton Saints plc to build on in the future.
"The Directors were pleased with the Club's performance in 2009/10," he wrote in the Saints' annual Business Review. "We remain ambitious to show continued and consistent development in every way possible and look forward to the forthcoming season with confidence."
However Robson joined Saints chairman Keith Barwell in warning that the continued growth shown by the Saints' parent company over the past decade was under threat from the policies of Northampton Borough Council.
In May 2009 the club announced that it had reached an agreement to sell part of its land to ASDA for a new food store that would serve the Upton and St James areas of Northampton.
The deal would also enable the Saints to finance the expansion of Franklin's Gardens from its present 13,591 to just under 17,500, a 25% increase in capacity, without taking on a loan that could be prohibitive to the club's ongoing financial stability.
However, despite overwhelming support from the Northampton community, as demonstrated in a representative borough-wide survey of over 2,000 residents conducted in April 2010, the Liberal Democrat leadership of Northampton Borough Council have consistently and openly opposed the plans.
"Saints' average attendance of over 13,000 at its Franklin's Gardens stadium was 97% of maximum capacity and for the first time in the professional era Saints had only the sixth highest home attendance in the Premiership," Robson said. "This threatens to restrict the Club's finances and our competitiveness on the playing front just as the growth in popularity of rugby union really begins to take off.
"As a result, if we qualify for a home quarter final in Europe's Heineken Cup again this coming season, we will have no alternative but to play the match at stadium:mk, Milton Keynes, because with its 22,000 spectator capacity it fulfils the tournament's criteria which Franklin's Gardens does not."
Barwell added: "Unfortunately the Borough Council and its executives still appear against the idea of...enabling retail development. I can promise you the Borough Council will not stop us carrying out our plans. They might slow it down, but we will build in the end."
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"Unfortunately the Borough Council and its executives still appear against the idea of...enabling retail development. I can promise you the Borough Council will not stop us carrying out our plans. They might slow it down, but we will build in the end."
go Keith, go Keith..
“Those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one.”
Benjamin Franklin
Tetleys Block F E143
Does this mean the PP for the stadium expansion is a formality? ie: the sole stumbling block is the fact it can't be done without the ASDA cash.
IOW ... If I win the Euromillion Lottery this weeekend & put up the cash... can they begin building the new stadium on Monday morning?
Edited 1 time(s). Last edit at 2010:08:27:12:45:29 by X-Block Dave.
27/08/2010 13:26
dej
Photo Gallery
Need to check something i "heard" the other day will see if I am ok to reveal?
Edited 1 time(s). Last edit at 2010:08:27:14:40:28 by Lloydie.
Sorry Tim, but I think that's wrong. Page 26 of the annual report & accounts clearly states that we have an outstanding bank loan of £1.5M and that a repayment of £300K is due each year for the next 5 years.
On page 30 - note 22 it analyses net debt ie debt - less cash in hand
It was this I was looking at.
“Those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one.”
Benjamin Franklin
Tetleys Block F E143
Brolly please!
And yes,well done Saints.
Bridesmaids no more.
Saint til I die
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