we don’t actually know if he is a billionaire anymore, the next Sunday Time rich list is going to be an interesting read certainly for most people who were in it previously. It’s interesting that despite his business models being primarily in hospitality, horse racing and football seemingly that all three industries sailed through a pandemic in rude health In peoples eyes, presumably creating record revenue whilst all three industries shut up shop. No wonder he’s such a shrewd businessman. If choices have to be made to preserve or generate profits again I would feel even less confident than normal where that money is coming from. Wonder how our debt stacks up against his debts in other companies on a wider view of it allLike you say, he is a billionaire. PNE is currently a small drain on his resources but his fortune is in no way dependant on the club so, perhaps he will cover the ever growing financial burden but...... because he has to? I doubt it.
It appears Hemmings is a bit sharper than their previous owner. 10 years ago they were neck and neck in the wealth stakes but after overseeing the demise of his JJB empire [he managed to sell out of it just before it hit the rocks] Dave Whelans new empire has just folded too [DW group]. He might not be so lucky this time. Just a thought??? I wonder if the consortium that pulled out of the deal to buy the club last week were relying on some cash backing from DW that would not happen now due to DW 's administration...like I said just a thought.Just look at Wigan
I can add 3 more that wont be renewing and for a strong list of reasons.Like it or not, for clubs our size, the name of the game is surviving this shit storm thats affected the whole world. thats not being negative its being realistic.
I certainly wont be considering a season ticket, for this season at least, and I would imagine Im not alone. The clubwill have this in mind too as they attempt to somehow prepare for an unknown future. I dont envy them.
I can add 3 more that wont be renewing and for a strong list of reasons.
2.Entertainment value, the football we play mostly is DIRE !!!
3.Lack of communication from the club regarding season tickets, for the season just done and next season.
4.The on going and absolutely desperate need for a decent striker.
5.Lastly, some sort of information from the owner regarding his plans for the club, in fact it would be nice for him to provide us with information on a whole raft of things promised but seemingly on the back burner or sacked all together.
Nonsense. The whole concept of limited liability companies is that the owner/ shareholders can just walk away if he / they wants and , provided no malpractice, suffer no personal financial consequences.The owner is legally obligated to cover the running costs of any business where possible.
Which for a football club would mean administration.Nonsense. The whole concept of limited liability companies is that the owner/ shareholders can just walk away if he / they wants and , provided no malpractice, suffer no personal financial consequences.
Number 3 is a bit harsh. The lack of refund might be a reason I guess but I'm not sure what else could have been expected communication wise. It was only mid May when it looked like we'd actually get playing again, training started on 24th May and on 30th May the club said there'd be no refunds. At this stage the iFollow details hadn't even been sorted out, the fixtures weren't even confirmed until 8th June.3.Lack of communication from the club regarding season tickets, for the season just done and next season.
At last, a common sense answer to a common sense question. Your simple arithmetic there shows a simple difference between income and expenditure. There are also lots of other expenses in running the Club, and yet people keep banging on about the Hugill and Robinson money keeping us in profit. The stark truth is, however much we would love to see millions spent on New signings, we simply do not generate enough income without the Hemmings input covering our losses. I wonder how many more Clubs are going to go into administration in the coming months.An owner of a business is NOT legally obligated to meet the runnings costs of a limited company..this is why limited companies exist. They are a legal entity in their own right and the owner is distanced from this if the business goes under.
ST money is not as important as other income at Deepdale.....total ST money and gate money is only £4m a year (and only 30% of ST holders pay the full price). Main income is TV money (£8m and TH loans...likely to be around £7m for the current financial year). Company accounts and recent loans show TH is meeting the cash flow requirements/paying the wages etc Last accounts showed the wage bill at £17.4m.
What are other clubs doing? I think the evidence is struggling. Even likes of Wednesday (Av 24,000 gates and charging £40 to get on) has defaulted on some player wages.