Great financial result.
Will be debt free by 2018.
Great financial result.Will be debt free by 2018.
I’d be very surprised. Another loss flagged for next year, and then it will take us a few years to recover. But debt is not an issue if you can cover it.
operating loss of $9.8 million for the 2016 financial year
+
Total debt position - $9,006,603
In other words, Tulla is paid off, with virtually no help from Government or the AFL.
’Tis but a blip.
What happened to insuranceThe net additional cost of player compensation claims and legal fees - $4.5 million
Sorry can you explain the significance of this
What happened to insuranceThe net additional cost of player compensation claims and legal fees - $4.5 million
Sorry can you explain the significance of this
Net means after insurance is added in.
Well more correctly after all in flows and outflows are calculated.
What do clubs do with profits anyway? It’s not like we have to pay our shareholders. It didn’t help us one bit when we were making $1mm profits. We still had the worst facilities in the comp.
Bulldogs haven’t made a profit for 30 years.
What do clubs do with profits anyway? It's not like we have to pay our shareholders. It didn't help us one bit when we were making $1mm profits. We still had the worst facilities in the comp. Bulldogs haven't made a profit for 30 years.
Ideally the profit would go to expanding the clubs interests. Setting up good academies in tiwi without having to worry about costs too much. Paying staff more to engage them. Being profitable isn’t the be all but it’s not all bad.
operating loss of $9.8 million for the 2016 financial year + Total debt position - $9,006,603In other words, Tulla is paid off, with virtually no help from Government or the AFL.
’Tis but a blip.
Erm…
Except we got a government grant, state grant and AFL funding for the development.
It was around $8mil overall.
$9 mil is just a blip on the radar???
Didn’t it take Richmond 5 years to get close to wiping their $5mil debt? And they made finals during those years.
How much did we make in 2012 (our last saga free year).
Think it will take a long time to clear this debt.
operating loss of $9.8 million for the 2016 financial year + Total debt position - $9,006,603In other words, Tulla is paid off, with virtually no help from Government or the AFL.
’Tis but a blip.
Erm…
Except we got a government grant, state grant and AFL funding for the development.
It was around $8mil overall.
Geelong got $100m for a ground they play a handful of games at! St Kilda got (IIRC) $30m for Seaford, and a few years later are seeking a repeat sum to return to Moorabbin. Tulla cost about $25m upfront, so we paid the vast bulk.
$9 mil is just a blip on the radar??? Didn't it take Richmond 5 years to get close to wiping their $5mil debt? And they made finals during those years. How much did we make in 2012 (our last saga free year).Think it will take a long time to clear this debt.
I wouldn’t be worried about what we made in 2012 I would be more thinking about how much can make going forward. Once we awaken from our saga induced slumber we will be fine. We aren’t Richmond. Our supporters stick fat and once we get on field success we the $$$ will roll in. The club has been setup very well to turn things around quickly.
Can’t we just print money… “True Value Dollars”… at least that’s what Kate Lundy and her friends would do in this situation…
Having read the 16 page financial report the part that should get all fans and club angry is we were forced to pay 350,000 (rise from 270k last year) to the AFL equalisation levy to help other clubs so called prosper like the Bulldogs(Premiers), Dees & Saints etc. From my accounts we are still expected to pay this next year despite our financial loss and position. So what then is equalisation if those clubs are currently now richer than us?
$9 mil is just a blip on the radar??? Didn't it take Richmond 5 years to get close to wiping their $5mil debt? And they made finals during those years. How much did we make in 2012 (our last saga free year).Think it will take a long time to clear this debt.
We made 400k in 2012, but that was the first year of work on Tulla. 2011 we made $1m, since which time our membership has grown by ~15k. Most clubs that have had big debt problems have been running fundamentally unprofitable businesses which they’ve had to turn around. We just need to stop having ludicrously expensive scandals and we’ll be fine, even if it takes a while to clear.
Some of those clubs might be in a better position financially on paper than us right now, but they will never be richer than us; monetary and non-monetary. We have things you can’t put a dollar value on that some of those peasant ***** will never have.
I’ve excluded the Dogs in that because right now they have a flag, excited fans and an extremely positive morale about them.
Lol gee this thread is definitely glass half full. 10million is an absolute disaster. I don’t neccasarily know but would this be the biggest wack any club in world sport has copped before?
Over 4 years, 10 million dollars, banned from finals, banned from 2 drafts, coach banned for 12 months, all the admin resigned in disgrace, 3 court cases (or maybe more), loss of brownlow medal and 12 players suspended for an entire season. When cronulla did the same thing and got what was effectively a 2 week penalty and won the premiership this year. What an absolute disaster.
I also feel part of pursuing the not guilty route may of been due to jobe having to relinquish his medal if we were found guilty, I hope it didn’t though…
What do we take out of this… never listen to lawyers.
Some of those clubs might be in a better position financially on paper than us right now, but they will never be richer than us; monetary and non-monetary. We have things you can't put a dollar value on that some of those peasant ***** will never have.I’ve excluded the Dogs in that because right now they have a flag, excited fans and an extremely positive morale about them.
Yeah Carlton also had those “things” once, and I’m sure Melbourne did too.
Having read the 16 page financial report the part that should get all fans and club angry is we were forced to pay 350,000 (rise from 270k last year) to the AFL equalisation levy to help other clubs so called prosper like the Bulldogs(Premiers), Dees & Saints etc. From my accounts we are still expected to pay this next year despite our financial loss and position. So what then is equalisation if those clubs are currently now richer than us?
I thought it was based on football department spending?
Clearly we are not doing enough creative accounting if this is the case.
The worst is still to come with the compensation claims.Says $4.5mil in compo claims in the $9mil figure
133k compo provided so far in the books for each of the 34. Agree- likely to be more provision next year.
Ever heard of insurance?