IronMarket Wealth’s Post

This is essential reading for any rugby fan. Worryingly it is a picture of a financially distressed sport at the elite level, with few clubs (companies is a better description) that you would think “that’s where I’d put my money”. Debt, revenues, equity, salaries etc are in the many cases trending towards a tipping point. It is deeply concerning. As a self-confessed accounts geek (the truth really is in the detail), it’s not the end of the road yet, but unless something fundamental changes we’re on a very, very slippery slope. Andy Golding I really look forward to discussing this with you when we catch up next. Thank you and the team at Leonard Curtis for pulling this together. The analysis is simple to understand, well explained and clearly surfaces the basic business issues with the sport. I’ve done my own review of the lower leagues (btw, my analysis is definitely “amateur land” compared to this!), and it’s a mixed bag in National 1 & 2. The clubs at this level have been through the wringer, and largely have strong if hugley constrained financials. They don’t have massive brands to maintain, and seem to have the “cloth/pattern” balance better arranged - but there are enormous disparities in incomes. The sources of income are largely consistent and balanced. The restricted level of funding available to National 1 & 2 clubs does seem to constrain development and I would imagine this will have an impact over a longer period in terms of renewing facilities - in particular those 3/4gs on 10 year contracts with the RFU. What happens when the deal expires and you have to renew it? Back to the 2024 Prem report. Sensible business heads are required for a sustained period, not just the next bail out or asset sell off. On a personal note, good to see Gloucester is trending in the right direction, a reduction in salary costs, manageable debt and high average gates. I’ve seen the talent in the revitalised academy 1st hand and this bodes well for the next 5 years in terms of league position. Glos are the one to watch. Build strength and talent from within, manage the pennies carefully.

Do you want to know what wars are for? Pearl Harbor. 7 December 1941. America enters World War 2. The US government introduces an Incom Tax to finance armaments (ranging: from 19% to 88% for the richest!). With this money, the US government is building hundreds of new arms factories and in 1943 the arms budget represented as much as 90% of US GDP! Even aircraft carriers are built in series! One new aircraft carrier every 5 days! Unemployment disappears! The US GDP in 1943 was USD 142b. This was twice as much as in 1939 and three times as much as in 1933. It was the largest economic boom in US history! So, do you want to know what wars are for? Now you know!

Accessing New Opportunities: Understanding FAR and OTA Contracts Watch the entire episode here: https://lnkd.in/g9u2Uy9i #federalcontracting #governmentcontracting #veteran #veteranownedandoperated #smallbusiness #business

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Was RAVEC involved in the decision-making process? (I doubt it) Did Swift pay for this protection or the UK tax payer? (No doubt the UK Tax payer) On what grounds was RAVEC policy over ruled given their stance on Prince Harry's protection? (Most likely none) There needs to be an investigation into this and Prince Harry's lawyers need to be all over it. The Met's justification for not providing Harry's protection is unbalance given former PM's continue to receive until their dying days and where the threat against Harry is far greater. The provision of protection to Swift appears to be nothing short of downright hypocritical in the least and an underhand, dirty approach involving cronyism and deep-rooted service for favours/ freebies. Swift has her own protection team; the threat against her would have had to have been substantial, real and imminent to warrant any UK government intervention - and if that was the case then the concerts should have been postponed or cancelled whilst an investigation took place to mitigate the threat. Yet, the first 100 days of this Government has shown that the same old Labour hypocrisy is in full play, and this is merely another example. #closeprotection #executiveprotection #integrity https://lnkd.in/dhHWQYV4

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Cross over to risk management in this episode.

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