With Chris Price resigning from the board and following on from Tracey Glendinning and David Dean previously resigning, we are now down to a Board of 4 Directors
Stuart Murphy
Roger Harrison
Rod Steele
Jason Shaw.
The board has contracted in size due to the resignations, but have not chosen to take on any new investors. Based on some of the seemingly poor decision making and obviously the clear need for more funding, it seems a strange decision not too bring in more expertise/investment.
A few questions I was wondering if people have any information on.
1. VIQI held 250 shares which have been transferred to Widnes Vikings Independent Player Support. Why is Jason Shaw still listed as a Director?
2. Peter Morris owns 250 Shares but is not listed as a Director. Anyone know why?
3. The 625 shares Chris Price held. Have they all been taken up by Stuart Murphy? This would take him to 1250 shares (over half the 2250 total shareholding). And mean he has a £125k controlling stake in the company.
4. I don't know much about Stuart but have heard he's a decent guy. Anyone know his reasons for now being the majority shareholder of a loss making business with nearly zero assets, despite being a Wigan fan?
If Stuart has take on all of Chris Price shares our ownership is now:
Stuart Murphy 1250 (£125k)
Roger Harrison 250 (£25k)
Rod Steele 250 (£25k)
Peter Morris 250 (£25k)
Widnes Vikings Independent Player Support 250 (£25k)
Stuart has 55.55% ownership with the other 4 investments having a 11.11% stake.
I don't know if our current ownership model is helping or hindering our current progress or lack of it. They certainly aren't very forthcoming in speaking with the fans, as our communication and fan engagement is at an all time low and I would suggest is very worrying for the future of the club.
DLM
What are the assets of the Club, DLM?
To me they get Central Funding (probably a pittance), ticket sales revenue (dropping annually), Sponsors monies, and a small bit of revenue off bar sales on matchdays. Off set this with Players/Staff wages, ground rental, and market stall rental. Kit suppliers have to be paid. As you mentioned, it looks like a loss making 'Business'. Who in their right minds, unless a multi-millionaire, would look to get involved?
Paulie xx
Why they don’t hold kids disco? More comedy and music events? The club is run as its a part time hindrance for some. If we dare to dream of super league a lot more has to be done and unfortunately the club seems to be disinterested in engaging with the fans who are leaving in their droves
In the latest published accounts which were for the year ending 30/11/22 it showed we had assets (what we own) of £803k with the vast majority being cash £646k. We also had liabilities (what we owe) of £555k with the difference bring Share Capital & Reserves £248k.
We dont publish our P&L and I don't know, but my guess would be after another difficult season and tough economic conditions our cash balance is likely to have reduced significantly for the year ending 30/11/23.
The large reduction in income from the RFL, the large reduction in income from the supporters scheme, reduction in season ticket and match day tickets and I presume a reduction in sponsorship and commercial/merchandise revenue along with rising costs on most things is undoubtedly why we will see the playing budget continue to be squeezed more and more.
Revenue generation as well as minimising none core costs must be a major priority. Getting a stronger team on the field and reengaging with our disillusioned fans are essential elements of increasing revenue.
The change in the economic climate nationally, privately and corporately might well place the Board members in a position that they couldn't have foreseen back in the Admin time, and make them look to hand over to a new face but there aren't many about! Changes in the Board may not indicate a loss of commitment.
A more 'all in it together' approach to fan involvement would be welcome and may encourage a more willing support financially through WVIPS etc.
There is progress on the IMG front of course but that doesn't win games!!
The SL ship might well look to expand, as it has done for years, but it could certainly do it no harm to trim its sails a bit and ensure that its feeder clubs are not discarded.
Given that we are now in IMG world and on-field performance accounts for 25% of the grading criteria, you wouldn't be ploughing a fortune into the team would you? Any available money would/could/should be spread across all the grading areas. Theoretically, you could score 75% grading despite being an abysmal team. And I wonder which of the criteria costs the most money? It's undoubtedly players. So fans won't like it but, maybe where money is tight, it might be better to focus on other areas. Sounds mad of course, but that's the current model.
Exactly! Iirc there were many who hated the thought of us qualifying through winning the NR Cup, but that was one thing that SOC got exactly right. Lewis's phone must have been hot with calls from our CEO at the time. But that is what it takes.
Once promotion is gained the SL throw money at you, not enough to do everything but enough to put on a show!
DLM hopefully we can find a few backers, but unfortunately nobody is knocking on our door. The only thing i think the club should do is communicate with fans more, so we understand better and it might get more joining WVIPS to help boost our funds. The comedy night a good idea and different events to raise extra funds is a good idea, but a monthly fans event possibly too? Communication is key and local business events and amateur clubs more involved? Whatever happens I will be backing Widnes because my local team.
Although CP has resigned from the board/chairmanship, he still holds his shares (until someone buys them).
@jdgsport thanks James. I guess that is the same with Peter Morris too then?