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#Post#: 146865--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Scooter
Date: December 31, 2025, 12:51 pm
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--- Quote from: Rugbycat link ---
>
> Actually producing any revenue from a Prem rugby club has not
been done since before Covid, and you need someone or a company
to provide a parachute if something unexpected comes along, and
at present to absorb the losses that everyone is experiencing.
> He is explaining why a franchise system is needed, to
encourage investment.
>
--- End Quote ---
They all produce revenue. I personally think a ring fenced
franchise model is a good idea.
#Post#: 146868--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Rugbycat
Date: December 31, 2025, 12:55 pm
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--- Quote from: Scooter link ---
>
>
> They all produce revenue. I personally think a ring fenced
franchise model is a good idea.
>
--- End Quote ---
True, should have said profit.
#Post#: 146881--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Quinky
Date: December 31, 2025, 6:29 pm
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--- Quote from: Rugbycat link ---
>
> Not convinced, if you had 2500 people who owned a club and the
club lost £3.5m, that would be £1400 each, in addition to the
normal season ticket costs.
>
> Most employee owned companies make a profit most years, and
have more assets than debts, also would you be able to buy more
than one share in the club, how is the club run, how are
decesions made, again so called employee run companies don't let
them really run the company.
>
> People may not like it but a franchise system is the way
forward.
>
--- End Quote ---
That's true when the investment is intended to make a profit.
With a team it's a different end game. The metaphorical dividend
is the club's survival and hopefully success. The decisions are
left to the board, as the shares would be a different class of
share.
Think of it in the same way that people donate to political
parties.
#Post#: 146887--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: deadlyfrom5yardsout
Date: January 1, 2026, 12:39 am
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John Lewis fails to pay bonus for fourth time in five years
by Adam McCulloch 13 Mar 2025
John Lewis will not pay out an employee bonus despite a strong
uplift in annual sales and profits, saying that it needs to
invest further in its turnaround plan.
The employee-owned group, which includes the John Lewis
department store chain and supermarket business Waitrose, posted
a 73% increase in profit before tax to £97m in the year to 25
January. Sales rose 3% to £12.8bn, helped by Waitrose’s
performance.
However, the retailer said it did not believe “it would be
right” to pay a bonus this year as it continued to reinvest in
the business to revive its fortunes, and considering that it
increased pay by £114m earlier this year.
It is the fourth time in five years it has failed to pay the
bonus.
New chair Jason Tarry said: “These are solid results, which show
that our customers are responding well to our investments.”
He told PA News that the company was “determined to pay a bonus
as soon as we possibly can” but that “now just isn’t the right
time”.
The company was not thought to have come up with any specific
thresholds or criteria for reinstating the bonus.
The John Lewis Partnership employs about 69,000 people, and
earlier this month it said shop workers would receive a 7.4% pay
rise.
The series of freezes started in 2020 – the first time it had
scrapped them since 1953 – after it was hit by Covid lockdown
store closures.
John Lewis said that while it expected the economic environment
to be “challenging for our customers and our business” in the
year ahead, it was still confident it could push up profits.
Charles Allen, a Bloomberg Intelligence analyst, suggested new
costs imposed by the last Budget were also in bosses’ minds. He
told the BBC: “Although the partners don’t see it, you’ve got a
very large rise in employer national insurance as well.”
John Lewis was one of the signatories of a letter to the
government last year, which said the rise in employer national
insurance contributions from April would make High Street job
losses inevitable.
John Lewis has been trying to win back customers with a recovery
plan after a tough few years that saw it cut jobs and close
several stores.
#Post#: 146894--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Rugbycat
Date: January 1, 2026, 3:01 am
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--- Quote from: Quinky link ---
>
> That's true when the investment is intended to make a profit.
With a team it's a different end game. The metaphorical dividend
is the club's survival and hopefully success. The decisions are
left to the board, as the shares would be a different class of
share.
>
> Think of it in the same way that people donate to political
parties.
>
--- End Quote ---
I understand the operating model that a supporter owned club
would use, but from the sack the CEO comments, it would be a
very precarious position being on the board, and also many
supporters would take a very short term view of operational
matters.
It would descend into tribalism and factions, and I am not sure
that many people would in the long term would want to contribute
and have very little influence over the club.
So yes you would have a board but you would not get fan
investment without shares being voting shares, at the AGM.
The whole thing would descend into chaos.
#Post#: 146898--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: T-Bone
Date: January 1, 2026, 3:14 am
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I don't understand why a franchise model would mean profits. I
understand that certainty is needed to attract investors, no
threat of relegation, etc. that's fine. But how are they
actually going to make money?
#Post#: 146900--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Rugbycat
Date: January 1, 2026, 3:24 am
---------------------------------------------------------
--- Quote from: T-Bone link ---
>
> I don't understand why a franchise model would mean profits. I
understand that certainty is needed to attract investors, no
threat of relegation, etc. that's fine. But how are they
actually going to make money?
>
--- End Quote ---
It is primarily the stability it offers, and that encourages
long term investment, which should lead to growth and eventual
profitability.
HTML https://www.leonardcurtis.co.uk/news/support-for-premiership-franchise-model-amid-threat-of-global-breakaway-league
#Post#: 146901--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: deadlyfrom5yardsout
Date: January 1, 2026, 3:47 am
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Under the Premiership’s plans for a franchise structure of its
own, the competition would reportedly be run in a similar way to
cricket’s Indian Premier League, which centralises commercial
operations and kit deals and distributes revenue equally between
the clubs. Promotion criteria would be revised to include
factors such as fan base, financial stability and regional
value.
He said a franchise-style league could also make it easier for
Premiership clubs to keep hold of their best players. “Stability
should help clubs retain top talent, knowing that the team won't
face relegation-induced disruption to both competition level and
salary,” he explained.
#Post#: 146902--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Scooter
Date: January 1, 2026, 3:54 am
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--- Quote from: T-Bone link ---
>
> I don't understand why a franchise model would mean profits. I
understand that certainty is needed to attract investors, no
threat of relegation, etc. that's fine. But how are they
actually going to make money?
>
--- End Quote ---
They've already revealed one way which is league wide
sponsorship deals. Collectively they can negotiate for a much
more attractive advertising proposition. Beyond that, concepts
like player drafts become much easier to encourage within a
closed system - as does controlling salary caps. It will also
give long term underwriters like Rowe an exit strategy that
doesn't tank the club.
#Post#: 146904--------------------------------------------------
Re: O/T Exeter up for sale
DIR By: Rugbycat
Date: January 1, 2026, 4:12 am
---------------------------------------------------------
--- Quote from: Scooter link ---
>
>
> They've already revealed one way which is league wide
sponsorship deals. Collectively they can negotiate for a much
more attractive advertising proposition. Beyond that, concepts
like player drafts become much easier to encourage within a
closed system - as does controlling salary caps. It will also
give long term underwriters like Rowe an exit strategy that
doesn't tank the club.
>
--- End Quote ---
Player drafts are very american, and you would have to invest in
BUCS to get that to work, also you would not get players until
they are 21/22, also would damage grassroots clubs.
Colledge sports draw huge crowds in the US, so i dont think
that drafts are a good idea, may work more in Womens game, but
again a lot of draw backs, closer links between universities and
clubs yes but drafts no.
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