Debt does not matter. It is the ability to stay solvent that counts.
Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
Debt does not matter. It is the ability to stay solvent that counts.Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
You just borrow more; and then throw a really big ■■■■-up for key coteries with lots of old great players and just like having Harry Potters Wand, the debt is all gone !!
I'll chuck in and sell some fairy bread and lemonade at the bunnings sausage/burger sizzle. I've got some limes and lemons growing should be ready fairly soonish. Should clear the debt in no time.
Why are you wanting to get rid of me? I didn’t make this mess.
Debt does not matter. It is the ability to stay solvent that counts.
This. I’m sure most clubs have substantial debt; we are lucky we have robust finances and a strong cash position which will only become stronger in 2017 one would assume with higher gate takings, memberships and merchandise.
Btw thanks to isc
Debt does not matter. It is the ability to stay solvent that counts.Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
You just borrow more; and then throw a really big ■■■■-up for key coteries with lots of old great players and just like having Harry Potters Wand, the debt is all gone !!
If only it were that simple.
Debt does not matter. It is the ability to stay solvent that counts.Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
You just borrow more; and then throw a really big ■■■■-up for key coteries with lots of old great players and just like having Harry Potters Wand, the debt is all gone !!
If only it were that simple.
It is that simple, Clubs will always rely on benefactors. And the much maligned Bomber Coteries do a great job, and many individuals are very generous. Doesn’t take away from the need to run a good tight financial ship and even the greatest Manager could not have made the contingencies needed for the Saga, though they have done very well.
Debt does not matter. It is the ability to stay solvent that counts.Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
You just borrow more; and then throw a really big ■■■■-up for key coteries with lots of old great players and just like having Harry Potters Wand, the debt is all gone !!
If only it were that simple.
It is that simple, Clubs will always rely on benefactors. And the much maligned Bomber Coteries do a great job, and many individuals are very generous. Doesn’t take away from the need to run a good tight financial ship and even the greatest Manager could not have made the contingencies needed for the Saga, though they have done very well.
Oh I know how it works. And I know more than most here as to who gives what. But you can’t just sweet talk a few coteries and major members and wipe huge debts. Just doesn’t work that way. Even paying down the debt on the training facility caused us to form a new coterie/group that is so exclusive it doesn’t even appear on any club information, but tips in heaps. And even they (combined with all the others you talk about) couldn’t/didn’t clear that debt. It just simply does not work like that. These groups/people give very substantial amounts, but not the amounts you are suggesting.
And I agree, given what we have had to deal with we have done extremely well. The majority of clubs would have become insolvent faced with that.
Can someone just get into Paul Little’s car and grab what’s in the centre console, or check out what’s down the back of his couch.
Debt does not matter. It is the ability to stay solvent that counts.Correct. Debt only becomes an issue when you can’t service it meaning it impacts your cash flows, limiting your ability to spend money you should be spending it on.
You just borrow more; and then throw a really big ■■■■-up for key coteries with lots of old great players and just like having Harry Potters Wand, the debt is all gone !!
If only it were that simple.
It is that simple, Clubs will always rely on benefactors. And the much maligned Bomber Coteries do a great job, and many individuals are very generous. Doesn’t take away from the need to run a good tight financial ship and even the greatest Manager could not have made the contingencies needed for the Saga, though they have done very well.
Oh I know how it works. And I know more than most here as to who gives what. But you can’t just sweet talk a few coteries and major members and wipe huge debts. Just doesn’t work that way. Even paying down the debt on the training facility caused us to form a new coterie/group that is so exclusive it doesn’t even appear on any club information, but tips in heaps. And even they (combined with all the others you talk about) couldn’t/didn’t clear that debt. It just simply does not work like that. These groups/people give very substantial amounts, but not the amounts you are suggesting.
And I agree, given what we have had to deal with we have done extremely well. The majority of clubs would have become insolvent faced with that.
But…
But…
But…
We’re Essington!
No debt is too big for us.
This will be done and dusted in a few years time. No sweat.
P.S. If it’s not noticeable… I’m being sarcastic…
But seriously…
We shouldn’t be looking for a saviour. Diamond Joe Gutnik reduced Melbourne’s debt but he found that their financial model wasn’t sustainable and they went further into debt.
We need to focus on getting a sustainable income stream that’ll eat into that debt.
It’s a lot easier said than done nowadays for footy clubs. Especially when we released the info that we’re aiming to reduce gambling revenue.
The sustainable income stream is called winning
… and not hiring someone like Peter Jackson who would cut heavily funding for core activities, stuff up salary cap decisions, lose key players, and generally run the club into the doldrums, which in trying to extricate ourselves from led indirectly* to the last 4 years of crap.
*Indirectly because it was directly caused by Vlad in his need to find a scapegoat to protect the guilty.
The sustainable income stream is called winning
A club that relies heavily on on field success is a poor sustainable financial model.
Winning on its own isn’t sustainable. It certainly hasn’t been for us the last fifteen years.
It is the bonus.
It should be the difference between making $2mil per year and $4mil per year.
I’d just like to see us win a flag tbh, couldn’t care about anything else.
I'd just like to see us win a flag tbh, couldn't care about anything else.
Where did this kind of crazy talk come from?