The Poolie Bunker

We lost £901k in the year ending Dec 2006. Defecit carried forward is £5.9 Million. Thank goodness we have IOR!

What I don't understand is, if we are losing that amount then surely clubs our size with the same support base etc... are losing the same. And these clubs are also still in business

I think IOR see the club as an investment so we have a large squad with players on good money, good junior set up etc. But if IOR were to walk away it would take someone with deep pockets to come in.

It also shows how damaging Tuesday's cup exit and the loss of a possible pay day at Wembley may be

Amen to that.

IOR are a large group of companies. This loss can be written off against corporation tax of the whole group. That doesn't mean to say we shouldn't be grateful to IOR, I'm just pointing out that its not as daft as it seems.

yes but my point is, how do other clubs do it, or do other clubs our size etc... not have as good a set up as ourselves or youth system etc...

I know most football clubs lose money but nearly a million quid

We pay good wages and we have a substantial behind the scenes infrastructure. Most clubs of comparable size and attendance could not survive on our gate and 'normal' income. Without IOR we would be where Daro are at best. More likely we would be where York are.

The deficit carried forward has been underwritten in share issues so whilever HUFC is losing money, it doesn't owe the bank a penny. Nor does it owe it's owners a penny.

So you see when you go on about Cup runs, 'the Boyd money,' bigger gates, expanding the ground etc etc blah blah, the investment is there. It's already been made. They're 6m out. Interest free.

Makes 20 quid to get in, hoping for 5000 through the door look a bit pissy doesn't it??

If they have share issues are these shares going directly to IOR then? I understood that with a share issue, shares had to be offered to existing share holders. I know IOR have shares but so do some others.

Called up share capital is unchanged at £3.5 million, the shareholder funds take the loss and now stand at a £2.4M defecit in the balance sheet.

At last years A.G.M. uncle Ken brushed over the losses as if they ( ior ) see it as part of owning a football club.

Not necessarily, depends on the companies articles etc

amen to that brother.