Ulster in Financial Trouble

Talk about the men in white, and everything Ulster!!

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UR13IRFU
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Ulster in Financial Trouble

Post by UR13IRFU » Fri May 08, 2020 9:36 pm

Heard from someone close to the situation that like most clubs Ulster are in a VERY bad financial situation, they were heavily relying on gate receipts this season. Hopefully the IRFU will obviously bail them out but going forward over the next few seasons after this pandemic is over I would imagine Ulster will have to tighten the purse strings

damianmcr
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Re: Ulster in Financial Trouble

Post by damianmcr » Fri May 08, 2020 10:18 pm

How does this compare to clubs in other provinces?

UR13IRFU
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Re: Ulster in Financial Trouble

Post by UR13IRFU » Fri May 08, 2020 11:46 pm

From what I have heard we r pretty bad compared to the rest of the provinces, before slogans tenure had ended its was well known that things weren’t great eg kfc on crazy wages and big house in holywood for example due to being an “international” But we r in a worrying position compared to the rest. Hopefully academy and good coaching can/will pull us through

rumncoke
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Re: Ulster in Financial Trouble

Post by rumncoke » Sat May 09, 2020 6:43 am

Munster have always been in financial trouble , and Leinster wages are highly subbed by central contracts and the players being to exploit their advertising status. Connaught must also be running close to the wind.

But TV companies are sitting at the monent with no live content no golf, no cricket, no football etc and sport is the cheapest screen filler ( bar old movies ). and the other content for the TV screens provided by the acting profession are in lockdown.

So the TV companies might have to cough up for closed house games at the end of this while they wait for soaps etc to get back into production.
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ScottishBrian
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Re: Ulster in Financial Trouble

Post by ScottishBrian » Sat May 09, 2020 11:34 am

Someone is telling porkies

Ulster financial report for 2018/2019 states

Revenue £10.6M up £.4M
Gate £3.2M down £0.1M
Sponsorship £2.9M up £.18M
Grants £2.4M
Players and Teams cost £5.9M up £.8M

There was an an accounting change from year end April to year end June which brought forward costs and changed £.8M surplus into a £.2M deficit which left a casg surplus of £1.6M.

So the Grants of £2,4M will have been recieved this year, the season ticket money from 8600 season tickets and the Sponsorship of £2.9M, assuming the same as the last financial year is in the bank, plus the gate receipts from the home matches played before the crisis.
There are no outstanding loans and no rent to pay plus all players wages have been deferred and staff have been furloughed so I have to disagree with Ulster being on financial trouble the numbers speak for themselves.

£1.6M in the bank
£2.9M in sponsorship
£2.4M in grants
£6.9M

Cost of the teams £5.9M so that leaves a surplus before the season starts of £1M plus season ticket payments and Gate reciepts.

I think whoever is telling you this is talking through their rear as FIRFU have just over 70M Euro in cash and Ulster are part of FIRFU so neither Ulster nor any of the other provinces will be allowed to fail

damianmcr
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Re: Ulster in Financial Trouble

Post by damianmcr » Sat May 09, 2020 3:47 pm

What are Ulster saving in the rates?

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Snipe Watson
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Re: Ulster in Financial Trouble

Post by Snipe Watson » Sat May 09, 2020 7:36 pm

The entire global game is in financial trouble. US Rugby is bankrupt and the RFU, NZR and ARU are each predicting shortfalls north of £50m.
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Dublin4
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Re: Ulster in Financial Trouble

Post by Dublin4 » Sun May 10, 2020 2:43 pm

As long as Central Banks in the developed world keep on printing money we will all be fine. There is no inflation, in fact there is going to be deflation.
The public are saving money week by week because it's impossible to spend, and when the controls are relaxed there will be a spending spree.

The IRFU has to be one of the best run businesses around in financial terms. You may hate them but they certainly know how to run a tight ship with Mr Grace in charge. The Aviva stadium debt is gone and the Union is in great shape compared to others.

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Snipe Watson
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Re: Ulster in Financial Trouble

Post by Snipe Watson » Sun May 10, 2020 3:18 pm

Dublin4 wrote:
Sun May 10, 2020 2:43 pm
As long as Central Banks in the developed world keep on printing money we will all be fine. There is no inflation, in fact there is going to be deflation.
The public are saving money week by week because it's impossible to spend, and when the controls are relaxed there will be a spending spree.

The IRFU has to be one of the best run businesses around in financial terms. You may hate them but they certainly know how to run a tight ship with Mr Grace in charge. The Aviva stadium debt is gone and the Union is in great shape compared to others.
That could well come to pass and wider economies that are fundamentally sound will bounce back.
But how will that overcome the cash flow crisis facing rugby clubs and unions?
Central banks can't print more weekends to have matches and they can't overcome the laws of human anatomy and have players recover quickly enough to play two competitive games in a week.
Lost fixtures and future fixture congestion cannot be solved without some original outside the box thinking.
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TopPoster
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Re: Ulster in Financial Trouble

Post by TopPoster » Sun May 10, 2020 3:27 pm

Dublin4 wrote:
Sun May 10, 2020 2:43 pm
.....
The public are saving money week by week because it's impossible to spend.....
Your hypothesis doesn’t seem to stretch as far as my wife!!!!!

Dublin4
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Re: Ulster in Financial Trouble

Post by Dublin4 » Sun May 10, 2020 6:53 pm

Snipe,
In contrast to governments who have to keep demand going in the economy, private organisations like Irish Rugby can survive by not spending, viz.stopping wages which are not being subsidised by the taxpayer.

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Snipe Watson
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Re: Ulster in Financial Trouble

Post by Snipe Watson » Sun May 10, 2020 11:48 pm

Dublin4 wrote:
Sun May 10, 2020 6:53 pm
Snipe,
In contrast to governments who have to keep demand going in the economy, private organisations like Irish Rugby can survive by not spending, viz.stopping wages which are not being subsidised by the taxpayer.
Yea that sounds like a great plan Baldrick :roll:
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rumncoke
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Re: Ulster in Financial Trouble

Post by rumncoke » Mon May 11, 2020 12:55 pm

D4

While players wages may be reduced or stopped there are still other overheads which can not be avoided .
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Bobbievee
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Re: Ulster in Financial Trouble

Post by Bobbievee » Mon May 11, 2020 3:40 pm

Sure, URs close supportive friends and sponsors in Bank of Ireland will see us all through , as they always do.

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solidarity
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Re: Ulster in Financial Trouble

Post by solidarity » Fri May 22, 2020 7:34 pm

There must be an opportunity for CVC to invest in a gold chip crew. Get in while things are rough and the price is low.

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