In an article for the Guardian yesterday Gary Hetherington was talking about the finances of Leeds Carnegie rugby club. Alongside the sum of £2.6 million that the club will receive as a parchute payment if and when they go down at Franklins Gardens in a fortnight, a second figure was mentioned. £2 million has already been committed to players' contracts for next season!
Now we have not announced the signing of anyone who would command a large chunk of that money so by my reckoning it could be 40 players at £50k or 20 at £100k each. The reality will be a spread with some players earning up to £200k and the squad players getting £70-80k. The squad is not 40 players yet so presumably the bill will go up as other players commit for another season.
Revenue will be seriously reduced if we are in the Championship plus there is also a large debt to service so, to me, it looks as though we will not have fiscal solidity nor anything like that for at least another 12 months.
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