W.Promotions Ltd

[leforge]

http://news.boxrec.com/news/2013/warren ... s-accounts

Interesting article.

[Final round]

I saw Terry had done an article on the name change submitted to Boxing Scene last night.
This morning it had gone.

[chinny]

Changing the name of a company the day one files stellar financial results seems to me like a perfectly normal, transparent thing to do

[hoot]

Looks like the big FISH are gasping for air, from a buisiness prospective what is the point of changing a name on a company that is 4 mill behind the 8 ball!! nothing is done without a reason, What are the benefitts of this?????

[robpalmer135]

i thought the move to allegedly was to stop losses by being able to promote more shows?

the name was probably changed so that potential signings and broadcasters wouldn't notice or be able to find financial results.

Wembley Arena is only set up for 6000 on march 16th. when your top 4 fighters can only sell that many your in the shit.

[earsjohn]

Can't see things having improved in the period since 31st March either. I would gues that TV revenue is negligible (I am assuming that the allegedly backed allegedly doesn't pay huge sums for the rights to allegedly Promotions fights?) and FWPs actual promotions have been sparse in te same period so can't see a huge wedge coming from that route. Add in the staging costs for the promotions and payments for the likes of the doesn't-come-cheap David Haye and it could well be a bleaker picture this time next year.

[Jeff Thomas]

You mean that unappealing prospect vs journeyman fights, obscure boxing channels, virtually no worthwhile promotion of any of the companies fighters and terrible interaction with the public like bitchy sun articles and suing websites lead to companies failing.... No one could have seen that coming.

[Arniesgym]

Jeff ur like an old woman grow up

[SAPFO]

You cannot build a boxer on an obscure channel these days, no matter how good he is. I ain't subbed to allegedly no more, and have all but lost interest in Cleverly etc.. Mag 7 was the last decent card of his, and that was 3 years ago.

DeGale is smarter than we though.

[hoot]

From BoxRec News
Warren's company changes name, files accounts
allegedly Promotions Ltd changed its name on Tuesday. In documentation filed at Companies House, the company will now trade as ‘W.Promotions Ltd’.

Abbrieviated accounts for the year ended 31st March 2012 have now been filed (the due date for filing was 31st December 2012) and show net liabilities for the company of £3,660,417.

‘Restated’ accounts for the year end 2011 show the figure for net liabilities then stood at £1,853,607.

The profit and loss reserve account shows accumulated losses of £4,361,142 at 31 March 2012.

The restated 31 March 2011 accounts show accumulated losses at £2,554,332.

A spokesperson from the company said: "The main creditors are the Shareholders and the Director for loans made to the Company."

This is surely very bad news indeed for his flag ship fighters, who allegedly struggle getting paid now!! ( W.Promotions Ltd, Nearly £4+1/2 million in debt as i understand it from above ) the fighters must surely wonder where the money will come from to pay off all these debt's, Money has to be made on top of the fighters purse for company profit, and as the fighter is the commodity. This must also put the fighter at a loss, his manager would be talking to a struggling promotional outfitt trying to get the best deal for his fighter!!!
Also no matter who invests in this company, will surely want there returns out of it!!!
If this is over 2-5 year period, some fighters will be nearing the end and been unfortunate to have been around, at a time where boxing has been on the decline and tv money is in short supply.
allegedly subscriptions cannot be bringing in lots of money, or this company would surely not be in this state? Boxing sure looks in a mess!!!

[chad]

From BoxRec News
Warren's company changes name, files accounts
allegedly Promotions Ltd changed its name on Tuesday. In documentation filed at Companies House, the company will now trade as ‘W.Promotions Ltd’.

Abbrieviated accounts for the year ended 31st March 2012 have now been filed (the due date for filing was 31st December 2012) and show net liabilities for the company of £3,660,417.

‘Restated’ accounts for the year end 2011 show the figure for net liabilities then stood at £1,853,607.

The profit and loss reserve account shows accumulated losses of £4,361,142 at 31 March 2012.

The restated 31 March 2011 accounts show accumulated losses at £2,554,332.

A spokesperson from the company said: "The main creditors are the Shareholders and the Director for loans made to the Company."

This is surely very bad news indeed for his flag ship fighters, who allegedly struggle getting paid now!! ( W.Promotions Ltd, Nearly £4+1/2 million in debt as i understand it from above ) the fighters must surely wonder where the money will come from to pay off all these debt's, Money has to be made on top of the fighters purse for company profit, and as the fighter is the commodity. This must also put the fighter at a loss, his manager would be talking to a struggling promotional outfitt trying to get the best deal for his fighter!!!
Also no matter who invests in this company, will surely want there returns out of it!!!
If this is over 2-5 year period, some fighters will be nearing the end and been unfortunate to have been around, at a time where boxing has been on the decline and tv money is in short supply.
Allegedly Channel subscriptions cannot be bringing in lots of money, or this company would surely not be in this state? Boxing sure looks in a mess!!!

BT buying the allegedly brand and portfolio of TV rights would certainly help allegedly to make in roads into the debt. Alternatively allegedly agreeing a new carriage deal with Virgin Media, having the channel added to their XL package, would boost revenue. The following in the Daily Mail today suggests ESPN UK will be snapped up by BT with ESPN staff being informed on Tuesday:

http://www.dailymail.co.uk/sport/foo...rles-Sale.html

ESPN forms part of Virgins XL package, and has been a big draw for Virgin attracting new customers. Rumours are rife that once EPSN drops out of the XL package in the summer, it will not be replaced by BT Sports. allegedly and Premier Sports being added to Virgins XL package come June / July as an alternative replacement for the outgoing ESPN has been discussed back and forth on various TV forums for weeks.

All speculation of course however we've all seen in the past that allegedly doesn't like being tied down to a broadcaster for too long if other offers come along.