Another ex-member of the Victorian "big-four", Richmond is even lower, at $19 million, and in last place on the BRW ladder.
Essendon chief executive, Peter Jackson, said yesterday he could not treat seriously a valuation that put his club $15 million below Collingwood, and $6 million behind Hawthorn.
"We have net assets up around the $14 million mark, which, I would say, is way ahead of any club in the competition. We have also made a profit in every year for the past nine. I don't think any other Victorian club has done that," he said. "It sounds to me they have used a pretty narrow perspective in their attempt at valuation. And it's pretty ridiculous, in one sense, when you are operating in an equalised environment with the AFL controlling every thing you do."
Another ex-member of the Victorian "big-four", Richmond is even lower, at $19 million, and in last place on the BRW ladder.
In an in-depth examination of the economic health of the nation's major football codes, national business magazine BRW put the Magpies' value at $42 million.
1) valuation based on revenue;
Richmond
Value: $19m
2004 Revenue: $16m
2004 | 2003 | |
$ | $ | |
Revenue from the Operating Activities: | ||
Football | 6,214,833 | 5,577,083 |
Sponsorship & Marketing | 9,835,088 | 10,416,856 |
Gaming and Social | 5,808,985 | 6,280,807 |
21,858,906 | 22,274,746 | |
Revenue from Outside the Operating Activities: | ||
Interest | 14,775 | 19,866 |
Jack Dyer Foundation | 338,331 | 401,142 |
Other | 10,075 | 67,896 |
363,181 | 488,904 | |
TOTAL REVENUE | 22,222,087 | 22,763,650 |
As I said I have no problem with the criteria they have used but to not use the correct revenues gives the whole report no credibility at all.