Your very much right. Looking for profit in a sports team is hard but not impossible. The thing is to get in at the right time and out at the right time.
Take Manchester United as an example. The glazers could see that the game was only only to get bigger and that meant more broadcasting money. So they mortgaged old Trafford to buy the club and then used the income to pay the interest. They then bought players with the broadcasting money and pocketed good dividends. They are now selling with the debt still as big as ever and looking at a minimum 3bn profit. They haven’t updated the ground and done minimal to the training ground. They are selling for someone to buy a trophy asset.
Same at Chelsea but the Russian didn’t his own money but his country’s stolen money and if it hasn’t have been for the Ukrainian war he’d have made over a billion.
So which rugby League club is worth something. Well one is Cas but it would be a specific owner. We are building a new ground and so let’s say we get the 12.2m and we’ve still got the 2m council money. If a builder can build it cheaper than 14 2m and so pay the staff is all profit. The bigger the builder, the more savings on buying bulk materials for more than one job, same with machinery and you’ve staff not waiting for the next job on a payroll.
Caddick built headingley up and Yorkshire cricket have a large mortgage on their joint stand. I’m sure the rhinos have their build incorporated into the full cost. So it might make financial sense to a builder
