It's closer to 6,000,000 actually

Has it been verified by the club? because something tells me thats wrong or there is more to the story. Because there is 100 percent no way is being run with only 10,000 in cash.

Don't wore it'll be a little tax plan by IL . Wigan are hardly on the breadline

I think your right. I can't see IL telling people Wigans financial future is safe with only 10,000 in cash and close to 6,000,000 in liabilities.

And i don't think anybody can accuse wigan of being run poorly.

Quote ="Magic Superbeetle"Well ... Leeds (though tied in with the cricket) overview: companycheck.co.uk/company/00028301 ~15million net worth Saints overview: companycheck.co.uk/company/00331905 ~14million net worth Wigan overview: companycheck.co.uk/company/00174 ... UB-LIMITED ~ -2million net worth Chuckle away'" The Leeds one is just the RL club, the cricket are separate.

Quote ="Magic Superbeetle"Well ... Leeds (though tied in with the cricket) overview: companycheck.co.uk/company/00028301 ~15million net worth Saints overview: companycheck.co.uk/company/00331905 ~14million net worth Wigan overview: companycheck.co.uk/company/00174 ... UB-LIMITED ~ -2million net worth Chuckle away'" The Leeds one is just the RL club, the cricket are separate.

These are what the club publish with company house, all the website does is show you the overview (to make those interested buy more in depth reports) so yes, it's verified by the club, as it's the club who posted the figures.

Cash is a taxable asset, which is why no club should be posting large cash sum values.

The best way to put it is Wigan have the most they can hide from the taxman, as opposed to any specific liabilities - but there are more inherent risks with fluid cash (not so say that will affect wigan in any way under the current regime, but a lot more risk with poor management)

I don't think we're going bust any time soon.

Really?

And I always though corporation tax was paid on profit.

As google/ Starbucks proved - making a profit and being taxed are two different things

Couldn't agree more, but that has nothing to do with "cash at bank" which is what you were implying.

Cash at bank is a fixed asset, fixed assets can be taxed as deferred tax (if for example a company tries to avoid all it's corporation tax by moving it's profit into a bank account) is applicable - it's a bit of a grey area - but it's giving the taxman an excuse to basically accuse you of moving money around to avoid tax ...

Anyway the latest accounts are what they are (for whatever reason) and as was said, net worth of Leeds is around 15million and Wigans is -2million

IL has already came out and said the club is in the Black and not the RED and we have received over a million in transfers since that. Like i said those figures aren't truthful for what ever reason.

There's no reason why both can't be true. You can have negative assets/ be liable for more than you own, as well as still posting a profit. There's no reason why both can't be true.

The accounts were last published up to and including last august so any and all transfer fees after that date won't be included no.

Whilst Wigan are free to move money around, convolute the process, and try best the system any way possible, not being truthful in these documents is a very serious crime

Are you suggesting IL has lied to the inland revenue?

Magic superbeetle - I have literally no idea what you're on about. You don't pay tax on cash, you pay tax on taxable profits. Cash at bank is not a fixed asset.

Dubairl - I doubt IL is lying when he knows that the information is in the public domain. I can't remember what was in the actual accounts, but I would imagine that a large proportion of the 6 mil Wigan owes is owed to IL, and he has no intention of asking for it so isn't including that when he says that they are in the black.

What has all this to do with Catalans??

Nothing, but why let that get in the way of a dick measuring contest?

Having been the Dragons ground on a non-matchday there seems to be plenty going on.

They have lots of rooms being used for various activities. Surprising really as they are a little way out of town.

What an odd post.

Cash at bank is a current (floating) asset, not a fixed asset.

As for moving all your profit into a bank account - eh?!

Methinks this is a case of a little knowledge being dangerous

Me thinks knowing the start and end of an argument mixed with getting the basics wrong at the start lead to a way too convoluted thought process for something that isn't really difficult

my bad (it's been a while since I did any accountancy in my defence!)

Top and bottom of it is saints and Leeds still have their safety net of owning land should the worst financial situation befall them - Wigan already used theirs.

To get back on topic a little bit, do Catalans own their own stadium? I know they moved about a bit in the beginning - but it would go along way to explaining the strength they have financially

Wigan have minimal assets compared to Saints and Leeds and, consequently, they can't sweat them for anything like as much. If Central Park was still there things would be different. But as it stands, the club is, one would assume, in a difficult position although IIRC they've tried to open up new income streams away from the DW?

Late to this but as mentioned, Leeds have it very easy and the club is in many ways a licence to print money. That's easier said than done and Hetherington does a good job but there are lots of areas that could be improved upon. They are excellent at wooing and wowing corporates but the fact that money in those areas is so easy to make means, in my view, they have failed to fulfil their potential in others - marketing is often poor and merchandising is, frankly, crap.

If all clubs in SL were in as terrible financial state as wigan, RL in this country would be in much better shape

Wigan Rugby League Club Limited is technically insolvent. It relies on the support of its owner as do almost all other RL clubs in the country and that is not a problem; but it is not what you would call conventionally healthy.

I thought Wigan had made a profit for the last few years?, and thats before last years fire sale of players

They may well have done but that doesn't extinguish millions of pounds of directors loans/director's company loans. Last time I looked at a set of Wigan accounts they came to £3m+. If the club is running profitably now that is an excellent turnaround - although its worth noting that it may not be the intention for the company to make significant long-term profits anyway - break-even may well be enough for the owner so discretionary spending, such as community work or grants to related foundations, may be ramped up or down.