Exeter Accounts

[Sliminator]

Interesting tweets by a Leicester fan twitter account.

https://twitter.com/spkeene/status/1612157404392656896?t=BP3zHhbpKfIVUB7O7cBBhQ&s=19

Apparently Exeter are a "well run club"

Proves what we already new, that they are just as reliant on their sugar daddy as most of the prem.

[Shugs]

Material uncertainty re going concern for most prem clubs including Exeter translates as - if they’re sugar daddy stops piling the cash in they’re done. Yes, Exeter in the same boat as everyone else run by a cash cow. 7 team prem anyone?

[mike909]

Four divisions? Used to enjoy watching Wasps players turning out for London Division back in the day....

[jamestaylor002]

Material uncertainty re going concern for most prem clubs including Exeter translates as - if they’re sugar daddy stops piling the cash in they’re done. Yes, Exeter in the same boat as everyone else run by a cash cow. 7 team prem anyone?

Who are also now feeling the bite of the salary cap - already lost Simmonds and Cowan-Dickie next season and very likely Nowell too if rumours are to be believed.

[Shugs]

Indeed. And Kirsten. Good job Baxter was able to bolster his ranks with three excellent youngsters that he picked up from us after being very vocal on what our fate should be! The red flags are going up at Falcons as well with a couple of mid season player sales.

[Skippy]

In summary:

Sell a hotel and you’re a well run club.

Sell a player and you’re a club heading into the abyss.

Borrow to buy a hotel, you’re financially irresponsible.

Anything I’ve missed?

[Vespula Vulgaris]

In summary:

Sell a hotel and you’re a well run club.

Sell a player and you’re a club heading into the abyss.

Borrow to buy a hotel, you’re financially irresponsible.

Anything I’ve missed?

Its more complex than that. They didn't just sell a hotel. The club which is owned by Rowe, owns a hotel. The club's hotel, that is ultimately Rowe's hotel, is bought by Rowe making it Rowe's hotel.

All that has changed is that a valuable asset has been reclassified in how exactly it actually belongs to Rowe.

It simply means that if he leaves, or if the club folds, he gets to keep the hotel.

It feels to me as if he is protecting his investment, especially in light of the fact that the club is now potentially not a going concern.

It's exactly what the cowboys at Wuss did, but they didn't have enough money to keep it going, that makes them almost criminal. Rowe on the other hand is richer, so his cooking the books in his own favour is just good business.

The longer this crap goes on the less I want to have anything to do with Rugby