One-Eyed Richmond Forum
Football => Richmond Rant => Topic started by: one-eyed on November 19, 2012, 03:47:27 PM
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Richmond records record profit
richmondfc.com.au
3:28 PM Mon 19 Nov, 2012
The Richmond Football Club has recorded a net surplus of $3,017,742 for the financial year ending October 31, 2012. The Club has now recorded profits for the past eight consecutive years and this year’s result reflects the strength in core trading activities.
In reporting the operating surplus, the Club confirmed it had also reduced its debt by in excess of $1.5 million, to $1.97 million. Richmond has now reduced its debt by more than $2.5 million over the past two years.
The Club’s net asset position also improved from $16.05 million to $19.07 million.
Some of the key highlights, which have contributed to strong revenue and profit growth, include the following:
• Record membership revenue of $5.305m representing 53,072 members.
• Record sponsorship income of $3.452m.
• Significant improvement in the Club’s operations at the Wantirna Club.
• Secured pledges of $6 million through the Fighting Tiger Fund.
Read the full article here: http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/151326/default.aspx
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What's Caltons membership revenue ?
Reckon sponsorship revenue is a tad low
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Richmond posts $3 million profit for 2011-12
Staff writer
From: Herald Sun
November 19, 2012 3:59PM
ON-FIELD success is the final piece of the Richmond puzzle after the Tigers recorded a record $3 million surplus in 2012.
Richmond has now recorded profits for eight consecutive years.
Announcing the result today for the final year ending October 31, 2012, Tigers president Gary March said the club boasted record membership revenue of $5.3 million from its more than 53,000 members, and record sponsorship income of $3.5 million.
March said Richmond had cut its debt by more than $1.5 million in the past 12 months.
The debt has been slashed by $2.5 million in the past two years and now stands at $1.9 million.
“We have recorded a significant surplus, which has been built on the wonderful support of our loyal members and supporters, our business partners, along with a committed board and administration,” March said.
“We knew it would require a united effort to build the foundations for success, and never more evident has that been, than in the past two years. I particularly thank those, who provided such outstanding support to the Fighting Tiger Fund.
“While we will reflect on a very positive 12 months, nobody is under any illusion that there is still much more to do. We still have debt to clear and we need to continue to build this club’s financial resources, so we can support our football requirements into the future. I can assure you that we will be relentless in the pursuit of this goal.”
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Other clubs to follow
http://www.heraldsun.com.au/afl/more-news/richmond-posts-3-million-profit-for-2011-12/story-e6frf9jf-1226516442343
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Tiger Army!
I'm getting that proud feeling again that I had as a kid.
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Tiger Army!
I'm getting that proud feeling again that I had as a kid.
I never lost that feeling
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Is the FTF counted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the FTF?
I would just like to know the underlying health of our PnL post the one offs
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I think there is a typo regarding sponsorship revenues ;D
Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs
Yes FTF must be counted in total revenues, therefore inplact on total profit
I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business
Wonder when the accounts will be available
Think it's important that they are consistent in how they report this stuff ;D :thumbsup
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I think there is a typo regarding sponsorship revenues ;D
Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs
Yes FTF must be counted in total revenues, therefore inplact on total profit
I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business
Wonder when the accounts will be available
Think it's important that they are consistent in how they report this stuff ;D :thumbsup
Yep, cause getting $3m per year in supporter donations isn't sustainable....
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Yep, cause getting $3m per year in supporter donations isn't sustainable....
I dont' think the FTF accounts for the entire profit
But certainly it is importnat to know of the $3mil "surplus" how much actually results from operations
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be interesting to see how much of the $6M pledged has actually been received
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Would just like to see the accounts
Don't want to be seen as being too critical until I do my review ;D
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Would just like to see the accounts
Don't want to be seen as being too critical until I do my review ;D
Well we had $3m pledged last year and $3m this year along with the million from losing to GC over the past 2 years so I'm really looking forward to seeing you see the accounts too ;D
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I think there is a typo regarding sponsorship revenues ;D
Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs
Yes FTF must be counted in total revenues, therefore inplact on total profit
I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business
Wonder when the accounts will be available
Think it's important that they are consistent in how they report this stuff ;D :thumbsup
Yep, cause getting $3m per year in supporter donations isn't sustainable....
That's how I think of it. But WP pointed out last year after perusing over the ledgers when they were released is the massive bottom line we pay in interest on the debt each other. Without searching for it I think it was $600k or something? It was something substantial anyway. Whatever it was, once the debts are paid off (whether that be from donations or operating profits) it's something else the club will be back in pocket.
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As mentioned in the Benny Gale interview thread, this year's profit does include the FTF. I was busy trying to type and listen at the time but I believe Benny said "a lot" of profit does include the FTF. What "a lot" means I don't know. If we raised $2m this year via the FTF say then "a lot" would be 66% or thereabouts.
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As mentioned in the Benny Gale interview thread, this year's profit does include the FTF. I was busy trying to type and listen at the time but I believe Benny said "a lot" of profit does include the FTF. What "a lot" means I don't know. If we raised $2m this year via the FTF say then "a lot" would be 66% or thereabouts.
That's hardly a profit then
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You must also take into account that we reduced debt by $1.5mil which makes the result look even better!! Stop being doomsdayers, the FTF was about reducing debt and beefing up FD spending, so after doing all that and without the FTF we still would have made a significant profit.
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You must also take into account that we reduced debt by $1.5mil which makes the result look even better!! Stop being doomsdayers, the FTF was about reducing debt and beefing up FD spending, so after doing all that and without the FTF we still would have made a significant profit.
How can you say that?
Without seeing the actual accounts you cannot make that assumption.
I also don't see how raising a fair question about what the clubs profit from operations is being a "doomsdayer" it is relevant especially considering last year the club was specific in highlighting as a separate number what our operating profit was outside of our overall profit.
As I said all will be revealed once the accounts are released to the members ;D
Can I add that it is pleasing to read that the Wantrina Club's performance has improved during this year. It needed too!
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I can say it easily!
If we didn't reduce debt by $1.5mil and hadn't contributed to the resurfacing of pro then the profit would have been probably $5mil plus! Take away say $3mil for the FTF and it would have been approx $2 mil profit....
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Its a good result. Well done to Brendon and his team. Looking forward to seeing Richmond completely debt free at some point over the next 2 years IMHO.
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I can say it easily!
If we didn't reduce debt by $1.5mil and hadn't contributed to the resurfacing of pro then the profit would have been probably $5mil plus! Take away say $3mil for the FTF and it would have been approx $2 mil profit....
Errrr no.... doesn't quite work like that
However, I'll play along ...so....
Using your figures the reduction in debt was funded by the FTF which is recorded in total revenues so right there our $3 mil profit becomes $1.5mil. As for the resurfacing of Punt Road which is costing another $1.5 which again is being funded by the FTF which comes out of total revenues then that wipes out the entire $3mil profit.
Simply using your logic and based on what we've told so far if you take out all monies rec'd from the FTF there is no profit ;D
You are making an assumption that the cost of reducing the debt & resurfacing are expenses to the P&L which they are not, they are balance sheet transactions
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Concise Financial Statements up on the RFC web-site
http://win-cdn220-is-1.se.bptvpd.ngcdn.telstra.com/pd_afltigers0/concisereport2012.pdf
Certainly a typo re sponsorship revenues ;D
Report says total sponsorship & marketing revenues:
$19,323,900
Slightly more than the $3.5 mil in the presser ;D
Another good number the reduction in finance costs (read interest) $190k down from $299k in 2011
Will have read tonight, though it is only the concise report not the full report. Prefer the full report as it gives a lot more detail ;D
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Prefer the full report as it gives a lot more detail ;D
Always the accountant! ;D
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Would be interesting to see the sponsorship/marketing $$$ income compared to the other clubs.
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Well done RFC :clapping.
The Club planned to be debt free by 2014. So that's a million a year needed to be paid off next year and the year after. This year we paid off $1.57m.
Concise Financial Statements up on the RFC web-site
http://win-cdn220-is-1.se.bptvpd.ngcdn.telstra.com/pd_afltigers0/concisereport2012.pdf
Total revenue from operating activities - $37.6m (up $4.2m). Not sure where the FTF monies are listed under?
Net assets & total equity - $19m (up $3m).
AFL guarantee to the bank has been reduced from $5m to $3m as our borrowings owed has been reduced from $3.5m to $1.97m. Interest payments down from $299k to $190k.
Gaming and social revenue at least is now heading upwards.
Receipts from gaming and social operations
$
2003 6,280,807
2004 5,815,571
2005 6,268,598
2006 6,397,903
2007 5,824,755 ......... smoking ban
2008 5,771,663
2009 5,518,281
2010 5,371,647
2011 3,410,144 ......... loss of Royal Oak
2012 3,774,743
(Provision)/release for Wartirna Club onerous lease
$
2008 (1,540,000)
2009 160,000
2010 160,000
2011 520,000
2012 700,000
Sources: Financial reports from 2004-2012:
2012 - http://win-cdn220-is-1.se.bptvpd.ngcdn.telstra.com/pd_afltigers0/concisereport2012.pdf
2011 - http://www.richmondfc.com.au/portals/0/richmond_docs/2011financials.pdf
2010 - http://oneeyed-richmond.com/forum/index.php?topic=12217.0
2009 - http://oneeyed-richmond.com/forum/index.php?topic=10387.0
2007 - http://oneeyed-richmond.com/forum/index.php?topic=6251.0
2006 - http://oneeyed-richmond.com/forum/index.php?topic=4168.0
2005 - http://oneeyed-richmond.com/forum/index.php?topic=2492.0
2004 - http://oneeyed-richmond.com/forum/index.php?topic=1127.0
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Certainly a typo re sponsorship revenues ;D
Report says total sponsorship & marketing revenues:
$19,323,900
Slightly more than the $3.5 mil in the presser ;D
WP, maybe that 'sponsorship revenue' relates to major sponsorships on the jumper and shorts from Jeep, Bingle and Harvery Norman?
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Tigers claw in the cash
Michael Gleeson
The Age
November 20, 2012
THEY have made the finals just twice in the last 30 years, but Richmond has posted its greatest ever financial profit, the dormant giant of the AFL making more than $3million this year. Incredibly the Tigers record profit was $1million more than the operating profit posted by grand finalist Hawthorn, which was announced last week.
The Richmond result included contributions from its Fighting Tiger Fund, but Richmond has now posted financial profits for eight years running.
The profit meant Richmond had reduced its debt by $1.5million to below $2million - down more than $2.5million in two years. Richmond narrowly missed the finals this year meaning they cannot now fulfil the ambitious plan of "3-0-75", the promise of three finals appearances, zero debt and 75,000 members within five years that they set three years ago.
While they were short of the on-field target, the strongly supported Tigers are now on track for the off-field goal, with debt likely to be wiped out and the rising membership of 53,072 a significant factor in the club profit. The club also has record sponsorship income of $3.4million.
Richmond last played finals in 2001, and before that 1995, their only finals appearances since 1982 when they were runner-up to Carlton. The club is investing heavily in its football department in a bid to address that woeful record.
"Our football department is better resourced than it has ever been. Our players will shortly have a state-of-the art Punt Road Oval on which to train, which compliments the ME Bank Centre, new cutting-edge equipment and technology has been purchased, we have enhanced coaching and recruiting structures, and we will stand alone in the VFL competition from 2014," club president Gary March said, welcoming the profit result.
Read more: http://www.theage.com.au/afl/afl-news/tigers-claw-in-the-cash-20121119-29lwm.html#ixzz2Cgb3jQsb
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WP, maybe that 'sponsorship revenue' relates to major sponsorships on the jumper and shorts from Jeep, Bingle and Harvery Norman?
Perhaps :huh
Prefer the full report as it gives a lot more detail ;D
Always the accountant! ;D
Yep even in semi-retirement ;D
Well done RFC :clapping.
The Club planned to be debt free by 2014. So that's a million a year needed to be paid off next year and the year after. This year we paid off $1.57m.
Concise Financial Statements up on the RFC web-site
http://win-cdn220-is-1.se.bptvpd.ngcdn.telstra.com/pd_afltigers0/concisereport2012.pdf
Total revenue from operating activities - $37.6m (up $4.2m). Not sure where the FTF monies are listed under?
Last year it was sponsorship & marketing so it would need to be in the same area ;D
Have requested a copy of the full financials - can't wait ;D :thumbsup :rollin
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Richmond narrowly missed the finals this year meaning they cannot now fulfil the ambitious plan of "3-0-75", the promise of three finals appearances, zero debt and 75,000 members within five years that they set three years ago.
If we play 3 finals in 2013, doesn't that count as 3 finals appearances? :huh
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Think it's important that they are consistent in how they report this stuff ;D :thumbsup
(http://i45.tinypic.com/29y5gnn.jpg)
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Have we worked out what profit has been made that can be sustained that is separate from the FTF donations?
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Richmond narrowly missed the finals this year meaning they cannot now fulfil the ambitious plan of "3-0-75", the promise of three finals appearances, zero debt and 75,000 members within five years that they set three years ago.
If we play 3 finals in 2013, doesn't that count as 3 finals appearances? :huh
I would have thought so Wayne, that was always my understanding of the plan.
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I love what the club did with that campaign and it's paying dividends already.
Membership is flying.
Alot I know have already upgraded to MRSC for next year so I reckon that 3 mill profit will be surpassed next year and the club will be in the black.
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Have the AFL handouts been included in this?
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Don't Worry folks, We are now in very good hands financially :thumbsup
(http://i48.tinypic.com/291yiv6.jpg)
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Have a copy of the full financials
Just reading them now; all 30 odd pages
;D
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Time for a complete de brief wp ::)
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Time for a complete de brief wp ::)
Nope
Dont want to bore people ::) ::)
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WP give us the ' accounting for dummies version'..I have been hanging all night for the WP analysis so come on son spit it out..lol
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+1. Would love to hear a dumbed down version WP, much obliged
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OK I will keep it simple ;D
Firstly it is a very good result. Anytime you make a profit is a positive. The strengthening of the balance sheet is another positive.
I mentioned last year that some folks would look at the fact that our current liabilities -v- current asset ratios is not great and although I understand the argument I didn't necessarily subscribe to it. What is pleasing with this years numbers is although our current Liabilities ($6.7mil) are still greater than our current assets ($4.0mil) the gap between the 2 has reduced significantly in 12 months thanks to the reduction in debt and the write back of the onerous Contract re the Wantrina Club.
Regarding the new gaming machine licences these are recorded on the BS as an Intangible Assets and it will interesting to see over time what the long term impact of this "investment" has on the operation at Wantrina in regards to its profitablilty
On the P&L side of things pleasing is the fact that our our revenues have increased by over $3 mil without any Govt grants this year. The impact of the FTF is known at $3mil but considering last years revenue figure included the same amount in FTF contributions I think a case can be mounted for saying the extra $3.3mil has been generated from operations. Unfortunately as it stands the full financials dont shed any light on this
Now for the bit that isn't addressed in the accounts and it has been asked by a few people here and that is what is our operating profit excluding the FTF monies. It is an important question for a number of reasons but more so from point of view because the Club made the effort last year of highlighting this number
From the 2011 Treasurers report
"In what have been sustained difficult economic conditions, it is pleasing to report that the consolidated entity has recorded a net profit of $2,752,801 (2010: $2,846,065).
The club has also recorded a profit from purely trading operations (before gaming, fundraising, government grants and associated interest income) of $51,000 (2010: $431,000), which reflects the significant increase in investment in football department expenditure in the current year."
I just think it is important we are told this number, it is relevant because I would think at some point the monies generated from the FTF are going to decrease and it's important that as a business we are able to perform profitably without this income
As it stands at the moment the 2012 Treasurers report isn't available so it would be unfair to be too critical about this point right now. Hopefully it will be available soon and the question will be answered one way or another
But when it is all said and one the result is a good one and one which the entire Club and it's members should be proud of
Any questions fire away
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I'm guessing the Club will argue that while the FTF money is a 'one-off' (at least as far as it being in the millions), what the FTF money is being spent on are also 'one-offs'. We won't be resurfacing and realigning Punt Rd Oval again and beyond 2014 we won't be paying down debt as it'll be all repaid by then. So expenditure should be less to counter in some way any fall in FTF revenue this time next year.
WP, maybe that 'sponsorship revenue' relates to major sponsorships on the jumper and shorts from Jeep, Bingle and Harvery Norman?
Perhaps :huh
Going by what Benny Gale says in the Fighting Tiger magazine, it appears this 'sponsorship revenue' is related to monies received from our major sponsors and partners.
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See previous comments!
$3mil profit with $1.5 mil debt reduced and significant contribution to redevelop PRO.
Whichever way you want to look at it and prattle on with diatribe, it's a very good result that even without the FTF money once the debt is wiped and we don't have the one off expenses like PRO, is a sustainable result with continued improvement on field.
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See previous comments!
$3mil profit with $1.5 mil debt reduced and significant contribution to redevelop PRO.
Whichever way you want to look at it and prattle on with diatribe, it's a very good result that even without the FTF money once the debt is wiped and we don't have the one off expenses like PRO, is a sustainable result with continued improvement on field.
Did you read my last comment? ::) ::)
I said this:
"But when it is all said and one the result is a good one and one which the entire Club and it's members should be proud of"
I have given them credit.
As for diatribe :-\
But in 2011 the CLub set the precedent regarding highlighting profit from operations only this year they haven't. If we want to truly compare apples with apples then they should disclose this info because from a purely business perspective it is important that's all I am saying.
And for the final time although it seems you are unwilling to accept or understand it because it doesn't suit your argument but any costs related to the development of PRO is not an expense and has no impact on profit!
I'm guessing the Club will argue that while the FTF money is a 'one-off' (at least as far as it being in the millions), what the FTF money is being spent on are also 'one-offs'. We won't be resurfacing and realigning Punt Rd Oval again and beyond 2014 we won't be paying down debt as it'll be all repaid by then. So expenditure should be less to counter in some way any fall in FTF revenue this time next year.
But I suppse that's part of the issue isn't it? The FTF isn't a one off nor are some of the things it is being used for one offs (eg increased spending in footy, which will also continue).
It isn't accounted for as a one off and it is continuing it seems indefintely which is fine. But at some point the well is gong to dry up hence why I reckon it is important to know how much of this years $3mil is attributable to the FTF.
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:bow :bow :bow :bow :bow :bow :bow GRETA WORK TIGERS THINGS ARE FINALLY REALLY STARTING TO LOOK UP OF FIELD AND ON...
HUGE YEAR FOR US MEMBERSHIPS COULD REACH A HIGH AND WILL MAKE THE 8
GO U TIGERS
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Carlton made a $683k loss :rollin.
$650k off it due to sacking and paying out Ratten.
http://www.heraldsun.com.au/afl/more-news/richmond-posts-3-million-profit-for-2011-12/story-e6frf9jf-1226516442343
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Carlton: $683,799 loss
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I can say it easily!
If we didn't reduce debt by $1.5mil and hadn't contributed to the resurfacing of pro then the profit would have been probably $5mil plus! Take away say $3mil for the FTF and it would have been approx $2 mil profit....
Errrr no.... doesn't quite work like that
However, I'll play along ...so....
Using your figures the reduction in debt was funded by the FTF which is recorded in total revenues so right there our $3 mil profit becomes $1.5mil. As for the resurfacing of Punt Road which is costing another $1.5 which again is being funded by the FTF which comes out of total revenues then that wipes out the entire $3mil profit.
Simply using your logic and based on what we've told so far if you take out all monies rec'd from the FTF there is no profit ;D
You are making an assumption that the cost of reducing the debt & resurfacing are expenses to the P&L which they are not, they are balance sheet transactions
I'm no accountant and am only assuming, but if you take away the FTF we might not have contributed to debt reduction and the resurfacing so couldn't you count it roughly even?
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What is Carltons debt now?
It's a simple question (I know) and we can hide behind mirrors whilst chewing a stogie but what is the operating profit AFTER abnormal revenues are deducted?
You can add the $500k from the GC game as well.
Cause in 2014, we won't have that revenue
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I can say it easily!
If we didn't reduce debt by $1.5mil and hadn't contributed to the resurfacing of pro then the profit would have been probably $5mil plus! Take away say $3mil for the FTF and it would have been approx $2 mil profit....
Errrr no.... doesn't quite work like that
However, I'll play along ...so....
Using your figures the reduction in debt was funded by the FTF which is recorded in total revenues so right there our $3 mil profit becomes $1.5mil. As for the resurfacing of Punt Road which is costing another $1.5 which again is being funded by the FTF which comes out of total revenues then that wipes out the entire $3mil profit.
Simply using your logic and based on what we've told so far if you take out all monies rec'd from the FTF there is no profit ;D
You are making an assumption that the cost of reducing the debt & resurfacing are expenses to the P&L which they are not, they are balance sheet transactions
I'm no accountant and am only assuming, but if you take away the FTF we might not have contributed to debt reduction and the resurfacing so couldn't you count it roughly even?
Yep correct best case scenario
That's what I said with added sarcasm ;D.
Sugark said if we hadn't used the FTF monies to retire debt & reconfigure PRO our profit would have been $5 mil. Point I was trying to make was the cost of those 2 things don't impact on the P&L and if we didn't receive the $3mil in FTF pledges our profit basically disappears
Hence, why I reckon it is important to report our profit is from basic operations ;D :thumbsup
What is Carltons debt now?
As per their website it is now just under $6.5 mil they paid back $750k this year
See:
http://www.carltonfc.com.au/news/newsarticle/tabid/4311/newsid/151445/default.aspx
;D :laugh:
It's a simple question (I know) and we can hide behind mirrors whilst chewing a stogie but what is the operating profit AFTER abnormal revenues are deducted?
You can add the $500k from the GC game as well.
Cause in 2014, we won't have that revenue
The Cairns game cannot be called anabnormal revenue item yellowandblack because it is a match day receipt. Granted more than we'd make in Melb but a match receipt none the less. While we wont get that $ amount after 2013 we will still receive something of a similar nature hence why it Cairns can't be classified as "abnormal"
But I certainly get your point and it's a good one
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I thought Carltank's debt was 10 mil
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I thought Carltank's debt was 10 mil
Only going by what's on their website. Had a quick look at their accounts but got bored and stopped ;D
Don't care one way or another to be honest :rollin they're in debt, made a loss because of poor management, poor decisions and an ordinary board.. All well deservedc ;D
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I thought Carltank's debt was 10 mil
Only going by what's on their website. Had a quick look at their accounts but got bored and stopped ;D
Don't care one way or another to be honest :rollin they're in debt, made a loss because of poor management, poor decisions and an ordinary board.. All well deservedc ;D
Hope they declare bankruptcy
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Brisbane has made a $2.5m operating loss. They've effectively lost close to $10m over the past 5 years :o.
http://www.afl.com.au/news/newsarticle/tabid/208/newsid/151467/default.aspx
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
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Brisbane has made a $2.5m operating loss. They've effectively lost close to $10m over the past 5 years :o.
http://www.afl.com.au/news/newsarticle/tabid/208/newsid/151467/default.aspx
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Kangas made a profit???
How can this be?
If they're making a million we should be making 10million.
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North Melbourne: $1,193,080 operating profit
Kangas made a profit???
How can this be?
Same way as us I think, fundraising from members.
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Essendon has posted a trading profit of $401,429.
http://www.afl.com.au/news/newsarticle/tabid/208/newsid/151640/default.aspx
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
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Essendon has posted a trading profit of $401,429.
http://www.afl.com.au/news/newsarticle/tabid/208/newsid/151640/default.aspx
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
They also had 9mil in membership rev vs our 5
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They also had 9mil in membership rev vs our 5
IIRC Bomber fans had to purchase a reserve seat with their game-entry membership this year.
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They also had 9mil in membership rev vs our 5
IIRC Bomber fans had to purchase a reserve seat with their game-entry membership this year.
We should do it too !
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They also had 9mil in membership rev vs our 5
IIRC Bomber fans had to purchase a reserve seat with their game-entry membership this year.
correct.
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They also had 9mil in membership rev vs our 5
IIRC Bomber fans had to purchase a reserve seat with their game-entry membership this year.
correct.
that revenue gap represents a major competitive advantage for Essendon over ourselves. That needs to be looked at by our club and maybe we need to respond. Now I know we play at MCG and anybody can get a seat but $4 million is major advantage that needs to clawed back if we can.
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North Melbourne: $1,193,080 operating profit
Kangas made a profit???
How can this be?
Same way as us I think, fundraising from members.
Plus a million plus handout from the AFL ;D
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North Melbourne: $1,193,080 operating profit
Kangas made a profit???
How can this be?
Same way as us I think, fundraising from members.
Plus a million plus handout from the AFL ;D
that mob are always cooking the books. :lol
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WP i wanted to ask you since you have read the financial reports of the club whether theres anything in it which focuses on the long term financial viability of the club.By that i mean other income streams other than pokies or maybe more pokies,It sort of concerns me that the club maybe rely too much on things like membership,the fighting tiger fund,and sponsorship,which can really fluctuate up and down from year to year
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Bulldogs no surprise made a loss ...
http://www.heraldsun.com.au/afl/more-news/essendon-profit-set-to-vanish-into-25-million-melbourne-airport-training-base/story-e6frf9jf-1226516442343
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
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Bulldogs no surprise made a loss ...
Despite receiving a $1mil make that $2.9mil handout from the AFL :-\
ED: Have just had a quick look at the Bulldogs annual accounts. Kudos to them they are very open with their info. Wish the RFC took this approach, I appreciate they don't have too but gee it would be nice if they did. Would enable answers to a lot more questions
Anyway the $2.9mil was the Doggies contribution from the AFL "Futures Fund", which is a fund we are supposed to getting funding from over IIRC a 3 year period. I didn't think it started until 2013 but it appears distributions from it started this season. I wonder if the RFC rec'd anything this year?
If we've rec'd funding from it this year it would be good to know how much it was but at the same time it automatically raises even more questions about our result :-\ ;D
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WP i wanted to ask you since you have read the financial reports of the club whether theres anything in it which focuses on the long term financial viability of the club.By that i mean other income streams other than pokies or maybe more pokies,It sort of concerns me that the club maybe rely too much on things like membership,the fighting tiger fund,and sponsorship,which can really fluctuate up and down from year to year
Answer to your question Gigantor is No. The full financials are just detailed numbers. There isn't any commentary on financila plans for the future. That sort of stuff should be in the Treasurer's, President's & CEO reports.
But seeing no one seems willing to answer the question about our operating profit excluding the FTF monies I am not holding my breath that the above mentioned reports will tell us that much either. Maybe questions for the AGM in a couple of weeks ;D :thumbsup
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President's Report
Gary March
November 2012
In 2012, the Club again made significant improvement, both off and on the field.
Off‐field, the Club recorded a net surplus of $3,017,742 for the financial year ending October 31, 2012. The Club has now recorded profits for the past eight consecutive years and this year’s result reflects the strength in core trading activities.
In reporting the operating surplus, the Club confirmed it had also reduced its debt by in excess of $1.5 million, to $1.97 million. The Club has now reduced its debt by more than $2.5 million over the past two years. The Club’s net asset position also improved from $16.05 million to $19.07 million.
Some of the key highlights, which have contributed to strong revenue and profit growth, include the following:
∙ Record membership revenue of $5.305m, representing 53,072 members
∙ Record sponsorship income of $3.452m
∙ Significant improvement in our operations at the Wantirna Club
∙ Finalised pledges of $6 million to the Fighting Tiger Fund (FTF)
It is important to note that of the $6 million pledged to the FTF, $4.25 million has flowed through to the Club’s operating results over the past two years. The balance of $1.75 million pledged will be received by the Club in coming years, in line with payment arrangements made with some major contributors. As noted in previous correspondence, FTF contributions are being split between debt reduction and investment in football.
Although the overall result is very pleasing, a lot of hard work is still ahead of the Club.
We have recorded a significant surplus, which has been built on the wonderful support of our loyal members and supporters, business partners, and a committed board and administration.
We knew it would require a united effort to build the foundations for success, and never more evident has that been, than in the past two years. I should particularly thank those who provided
such outstanding support to the Fighting Tiger Fund.
As we reflect on a very positive 12 months, nobody is under any illusion that there is still much more to do. We still have debt to clear and we need to continue to build the Club’s financial resources, so we can support our football requirements into the future. I can assure you that we will be relentless in the pursuit of this goal.
While we didn’t play finals’ football, the improvement in our young side was there for all to see. We won two more games than we did in 2011 and improved our percentage by 25%. Over the past two seasons, we have become a significantly more competitive team.
This improvement has been the result of a clear plan and significantly increased investment in football. We expect that to deliver further improvement next season and beyond.
We have been strategic in our approach to list management through the draft, trade period and free agency. At the same time, our football department is now better resourced than it has ever been.
Our players will shortly have a state‐of‐the art surface on which to train, new cutting‐edge equipment and technology has been purchased, we have enhanced coaching and recruiting
structures, and we will have a stand‐ alone team in the VFL competition in 2014.
The challenge now is for the Club to grab the opportunity that has been created.
Appreciation
In closing, I would again like to sincerely thank the following organisations, groups and individuals for their wonderful support of the Club throughout 2012.
* Our joint major partners, Jeep Australia and Bingle, and the naming‐rights partner of our Punt Road Oval administration and training facility, ME Bank.
* Our Gold and Platinum partners ‐ Harvey Norman, KooGa, Lite n’ Easy, HOSTPLUS, Signet, Australian Power & Gas, Kuhmo Tyres, Coca‐Cola, Luxbet.com, James Richardson Group and
the Herald and Weekly Times.
* Our official providers ‐ Caydon, Peter Lehmann Wines, Club Warehouse, Musashi, XBlades, Brooks, Skins.
* Our community sponsor Dick Smith, who work with the Club to deliver the Technology in the Territory program in Central Australia.
* The members of Jack’s Club, Legends Club, Richmond Executive and our player sponsors.
* The Tommy Hafey Club, Tiger Lilies, the Former Players and Officials Association, the RFC History and Tradition Group, our many country supporter groups and Club 80.
* Our passionate, loud and proud Cheer Squad.
* My fellow Board members, along with the Club’s managers, coaches, players and staff.
* All our volunteers and helpers behind the scenes.
* Finally, but most importantly, to each Richmond member, thanks for your outstanding commitment to the Club.
I wish you, and all your families, a very happy Christmas and New Year, and look forward to seeing you – and hearing that mighty Tiger roar – at our games throughout the 2013 season.
Gary March
RFC President
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Finance Report
Rob Dalton
November 2012
On behalf of the Board I have great pleasure in presenting the financial report of the club for the year ended 31 October 2012.
FINANCIAL RESULTS
The club has reported an operating profit of $3,017,742 for the year ended 31 October 2012 (2011: $2,752,801). After adjusting for non cash depreciation and amortisation charges of $918,249, the clubs cash earnings for the year were $3,935,991. In what has been a sustained difficult economic environment, this financial result is outstanding, and a result that all stakeholders should be proud of.
The club has now recorded profits for the past eight consecutive years and this year’s result reflects the strength in our core trading activities.
Despite a lack of on field success, the results over the last eight years reflect a strong vision, excellent management execution, and the strength and loyalty of our supporter base, which is the envy of the AFL competition.
Some of the key highlights which have contributed to our strong revenue and profit growth include the following:
· Record membership revenue of $5.305m (2011: $4.473m) representing 53,072 members (2011: 47,902)
· Record sponsorship income of $3.452m (2011: $2.768m)
· Significant improvement in our operations at the Wantirna Club
· Merchandise Income of $610,000 (2011: $417,000)
· Fundraising Income of $1.675m (2011: $1.516m)
The club now boasts a sustainable, profitable operating model with an outstanding team of executives and staff and we are very optimistic about the future possibilities given the strong base which has been built over the last few years.
FINANCIAL POSITION
The board has continued to communicate to members a clear direction to create a sustainable financial position for the club. This has meant a responsible financial program of debt repayment whilst at the same time continuing to invest in football operations. The Board and Management are clear that the strategy is enabling us to bridge the gap with other clubs and provide the best opportunity for on field success. In 2012 we have taken a huge step forward in achieving our objective of eliminating our core debt and improving our net asset position.
As at 31 October 2012:
· The club has a Net Asset Position of $19,065,807 (2011: $16,048,065). In 2005 our financial statements reflected the Club had a Net Asset Deficiency of $704,000. This has been an amazing effort by so many people to secure the financial future of the Richmond Football Club.
· 2012 also saw the Clubs debt reduce from $3.5m in 2011 to $1.97m Debt reduction has been a significant focus for the Board, and we have now seen external debt reduce from over $5m in 2006 to $1.97m in 2012. With a strong on field performance in 2013, the Board and Management are confident we will again make strong in roads into further debt reduction.
· It is also important to note that our short term payables and creditors are covered by our liquid assets such as cash and receivables, demonstrating that our working capital management is strong.
In 2010 the Club launched a Strategic Plan covering a five year period (2010 to 2014). Significantly we are achieving the financial goals stated within this plan as they related to the 2010 to 2012 financial years.
This year, the collective efforts of many Richmond people have also enabled the Club to reconstruct our Punt Road Oval playing surface. This project once completed will be a significant advantage in the preparation of players.
This year’s net profit result again reaffirms the Board and management’s commitment to our financial plans, and the governance principles that were established to support our operations.
I would like to thank everyone who has contributed to this result through membership, donations, purchasing merchandise and through the Fighting Tiger Fund. There is still a long way to go, and I look forward to all Richmond people continuing to join together in 2013 and ensuring our financial future and success.
Rob Dalton
Finance Director
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PORT Adelaide has blamed a staggering $4.12m operating loss largely on continued on-field underperformance.
The loss, which was eased by a $2m payment from the SANFL, was "feared" by CEO Keith Thomas after a disastrous 2011 season in which the side finished second last and $3.16m in the red. Thomas said that poor results on the field for a second consecutive season heavily impacted the club's financial situation.
http://www.afl.com.au/news/newsarticle/tabid/208/newsid/151896/default.aspx
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $4,120,000 operating loss
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trend in that interstate clubs like Port and Lions
and the 2 new ones will be struggle street clubs
unless successful, even then its guarantee look
at the Lions.
i expect them to go hand in cap soon.
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Kochie has his work cut out for him at Poort :lol
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Kochie has already significantly increased the size of ports supporter base, adding Amanda vandstone to the board
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Kochie has already significantly increased the size of ports supporter base, adding Amanda vandstone to the board
Is she still around ? :shh
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oh yeah, she is still a round person, a very round person
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oh yeah, she is still a round person, a very round person
Well played bruz
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Poort :lol
:lol
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Caro mentioned the other day on one of the ABC TV sports shows that the Pies will be announcing a $5m profit.
The Demons made a small profit btw.
http://www.theage.com.au/afl/afl-news/good-news-for-demons-20121203-2aqj1.html
2012 AFL CLUB FINANCIAL RESULTS
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Melbourne: $77,618 operating profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $4,120,000 operating loss
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The AFL must be sweating bullets over the sustainability and long term viability of clubs like Port and Brisbane. I would imagine GWS and GC would be operating at a loss too. Then there are the smaller Melbourne clubs that are going into onfield decline including the Dogs and Saints. Clubs like ours will continue to get bigger and make it very difficult for these weaker clubs to compete in the future. Realistically having clubs such as the Tiger, Collingwood and Essendon down the ladder is probably better for the financial sustainability of the competition than having the weaker clubs down their.
I predict troubling years ahead for the competition if this trend continues......but really as long as the Tigers are flying who really cares :eyebrow :dancing
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The AFL must be sweating bullets over the sustainability and long term viability of clubs like Port and Brisbane. I would imagine GWS and GC would be operating at a loss too. Then there are the smaller Melbourne clubs that are going into onfield decline including the Dogs and Saints. Clubs like ours will continue to get bigger and make it very difficult for these weaker clubs to compete in the future. Realistically having clubs such as the Tiger, Collingwood and Essendon down the ladder is probably better for the financial sustainability of the competition than having the weaker clubs down their.
I predict troubling years ahead for the competition if this trend continues......but really as long as the Tigers are flying who really cares :eyebrow :dancing
Are we really flying though stripes? Take away $3mill or thereabouts from FTF and our operating profit is probably similar to Melbournes.
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The AFL must be sweating bullets over the sustainability and long term viability of clubs like Port and Brisbane. I would imagine GWS and GC would be operating at a loss too. Then there are the smaller Melbourne clubs that are going into onfield decline including the Dogs and Saints. Clubs like ours will continue to get bigger and make it very difficult for these weaker clubs to compete in the future. Realistically having clubs such as the Tiger, Collingwood and Essendon down the ladder is probably better for the financial sustainability of the competition than having the weaker clubs down their.
I predict troubling years ahead for the competition if this trend continues......but really as long as the Tigers are flying who really cares :eyebrow :dancing
That is probably my greatest confusion with the profit. How much of it has been generated from the FTF? This has never been fully explained to me as yet.
Regardless though a under performing Richmond still can push a profit while an under performing Port goes into the red by over 4 mill.
Are we really flying though stripes? Take away $3mill or thereabouts from FTF and our operating profit is probably similar to Melbournes.
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Collingwood has made a $7.83m profit although it includes almost $3m from the AFL rights deal for the redevelopment of their Westpac training centre. Operating profit was $4.86m.
http://www.theage.com.au/afl/afl-news/78m-jackpot-20121204-2atcf.html
http://www.heraldsun.com.au/afl/more-news/collingwood-records-7m-in-black-and-white-as-financial-power-increases-divide-between-rich-and-poor/story-e6frf9jf-1226530046390
2012 AFL CLUB FINANCIAL RESULTS
Collingwood: $7,835,080 profit
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Melbourne: $77,618 operating profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $4,120,000 operating loss
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Collingwood has made a $7.83m profit although it includes almost $3m from the AFL rights deal for the redevelopment of their Westpac training centre. Operating profit was $4.86m.
http://www.theage.com.au/afl/afl-news/78m-jackpot-20121204-2atcf.html
http://www.heraldsun.com.au/afl/more-news/collingwood-records-7m-in-black-and-white-as-financial-power-increases-divide-between-rich-and-poor/story-e6frf9jf-1226530046390
:huh3 :huh3
Hmmm...it seems all clubs got extra funding from the AFL this year as part of the "Futures Fund". This means we would have received our $2.5+ mil as well. Which is forms part of our profit. Granted we had to use that money in pre-determined areas but it leads me back to my original question what's our profit from operations.
Pies have clearly highlighted their "total" profit and distinguished it from their "operating" profit.
Have said it before all clubs should do it
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I've got the feeling, that with the FTF and the AFL handout, we may have an operating loss :o
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Collingwood has made a $7.83m profit although it includes almost $3m from the AFL rights deal for the redevelopment of their Westpac training centre. Operating profit was $4.86m.
http://www.theage.com.au/afl/afl-news/78m-jackpot-20121204-2atcf.html
http://www.heraldsun.com.au/afl/more-news/collingwood-records-7m-in-black-and-white-as-financial-power-increases-divide-between-rich-and-poor/story-e6frf9jf-1226530046390
2012 AFL CLUB FINANCIAL RESULTS
Collingwood: $7,835,080 profit
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Melbourne: $77,618 operating profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $4,120,000 operating loss
We'll never get that
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If our figures include fighting tiger fund money and an afl handout from the afl and if that handout was as WP says possibly over $2.5 million then I would hate to see the real operating figures. Indeed it seems that was is going on now is what was going on when Iain Campbell was CEO but Iain didnt have money from a FightingFund and Im pretty sure he didnt have a $2.5 million handout from the AFL either to balance the books.
RFC better be pretty sure that it is able to manage its finances down the track because one day the money from the fighting tiger fund wont be their and the AFL may also cut down handouts especially to the Vic clubs if the likes of GWS and GCS and Port start to really struggle.
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If our figures include fighting tiger fund money and an afl handout from the afl and if that handout was as WP says possibly over $2.5 million then I would hate to see the real operating figures. Indeed it seems that was is going on now is what was going on when Iain Campbell was CEO but Iain didnt have money from a FightingFund and Im pretty sure he didnt have a $2.5 million handout from the AFL either to balance the books.
RFC better be pretty sure that it is able to manage its finances down the track because one day the money from the fighting tiger fund wont be their and the AFL may also cut down handouts especially to the Vic clubs if the likes of GWS and GCS and Port start to really struggle.
Fair call Ramps although as Collingwood are now showing - a few years of sustained success will create a snowball effect on income generated from supporters, sponsors, etc
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Collingwood has made a $7.83m profit although it includes almost $3m from the AFL rights deal for the redevelopment of their Westpac training centre. Operating profit was $4.86m.
http://www.theage.com.au/afl/afl-news/78m-jackpot-20121204-2atcf.html
http://www.heraldsun.com.au/afl/more-news/collingwood-records-7m-in-black-and-white-as-financial-power-increases-divide-between-rich-and-poor/story-e6frf9jf-1226530046390
:huh3 :huh3
Hmmm...it seems all clubs got extra funding from the AFL this year as part of the "Futures Fund". This means we would have received our $2.5+ mil as well. Which is forms part of our profit. Granted we had to use that money in pre-determined areas but it leads me back to my original question what's our profit from operations.
Pies have clearly highlighted their "total" profit and distinguished it from their "operating" profit.
Have said it before all clubs should do it
is there a reason why WE dont do it?
it seems they dont want to be transparent.
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is there a reason why WE dont do it?
it seems they dont want to be transparent.
I believe it has nothing to do with transparency to be honest.
There are minimum legal requirements regarding how companies must present their annual accounts. The RFC are meeting that requirement, nothing more nothing less.
Other clubs for whatever reason chose do go into greater detail, that's all.
The only reason I keep harping on about this is because for whatever reason last year the Club declared what our operating profit was excluding all the extras in particular the FTF monies. This year they've decided not too.
I just think it's important so we can compare apples with apples rather than comparing apples to grapefruits
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Port apparently forgot to mention to the media about one or two million dollar lifeline grants. So their actual operating loss is $6.3 million :o.
http://www.heraldsun.com.au/afl/more-news/port-adelaides-trading-loss-is-63m/story-e6frf9jf-1226531585920
2012 AFL CLUB FINANCIAL RESULTS
Collingwood: $7,835,080 profit
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Melbourne: $77,618 operating profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $6,300,000 operating loss
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the Fairweather fans of the Lions are killing them. If they didn't have those multi-coloured seats at the Gabba which give you the false impression that there are more people in the crowd, the place would look like Pripyat in recent times.
You have to question how long this club will survive, especially if the minnows up the road start having more success.
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Umm, get with the local terminology Tiga........................it's "down" the road.
:whistle
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yep, thats what we say down here too........
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is there a reason why WE dont do it?
it seems they dont want to be transparent.
I believe it has nothing to do with transparency to be honest.
There are minimum legal requirements regarding how companies must present their annual accounts. The RFC are meeting that requirement, nothing more nothing less.
Other clubs for whatever reason chose do go into greater detail, that's all.
The only reason I keep harping on about this is because for whatever reason last year the Club declared what our operating profit was excluding all the extras in particular the FTF monies. This year they've decided not too.
I just think it's important so we can compare apples with apples rather than comparing apples to grapefruits
so we changed tack this year, it would be interesting to know why this was done.
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is there a reason why WE dont do it?
it seems they dont want to be transparent.
I believe it has nothing to do with transparency to be honest.
There are minimum legal requirements regarding how companies must present their annual accounts. The RFC are meeting that requirement, nothing more nothing less.
Other clubs for whatever reason chose do go into greater detail, that's all.
The only reason I keep harping on about this is because for whatever reason last year the Club declared what our operating profit was excluding all the extras in particular the FTF monies. This year they've decided not too.
I just think it's important so we can compare apples with apples rather than comparing apples to grapefruits
so we changed tack this year, it would be interesting to know why this was done.
Will be raising next week at the AGM :thumbsup
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Umm, get with the local terminology Tiga........................it's "down" the road.
:whistle
Sorry Smokey, I've only ever watched two GC games and both were in Cairns which accounts for my slip up. ;D
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Very disappointed with our membership revene.
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Umm, get with the local terminology Tiga........................it's "down" the road.
:whistle
Sorry Smokey, I've only ever watched two GC games and both were in Cairns which accounts for my slip up. ;D
You're forgiven this time but don't do it again. Us children of the Chosen State are quite particular about the regional complexities and niceties of the grid square in which we reside and we just can't abide being called up when we're down and vice versa. I hope you understand. ;D
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It's a simple question (I know) and we can hide behind mirrors whilst chewing a stogie but what is the operating profit AFTER abnormal revenues are deducted?
You can add the $500k from the GC game as well.
Cause in 2014, we won't have that revenue
The Cairns game cannot be called anabnormal revenue item yellowandblack because it is a match day receipt. Granted more than we'd make in Melb but a match receipt none the less. While we wont get that $ amount after 2013 we will still receive something of a similar nature hence why it Cairns can't be classified as "abnormal"
But I certainly get your point and it's a good one
But is it a "match day receipt" in cash or is it some form of contra payment?
We have just completed a training camp in Queensland.
"The camp, which was made possible by the support of Tourism Tropical North Queensland, will be a mix of football training and team bonding exercises."
http://www.richmondfc.com.au/news/tigersincairns/tabid/19946/default.aspx
Was this part of the payment for the Cairns fixture?
Nothing wrong with covering the cost of our annual camp in this way except that the costs tend to be listed at the upper extreme.
eg To the Tax Office, Qantas list a cost of $350 (plus $50 baggage charge) per person for Melbourne-Cairns flights where they may be on sale for $169.
So air fares for 60 return is listed at $48K but can be less than $20K if you group booked direct.
Another interesting question for the AGM.
"How do we get paid $500k for the Cairns game?"
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But is it a "match day receipt" in cash or is it some form of contra payment?
They've made it clear they get cash for playing in Cairns, hence why they did the deal in the first place. Have heard Benny Gale say this a number of times
Reckon this training camp is more like "sponsorship" arrangement. Also considering this training camp has taken place in Dec it would have had no impact on our 2012 profit result
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Umm, get with the local terminology Tiga........................it's "down" the road.
:whistle
Sorry Smokey, I've only ever watched two GC games and both were in Cairns which accounts for my slip up. ;D
You're forgiven this time but don't do it again. Us children of the Chosen State are quite particular about the regional complexities and niceties of the grid square in which we reside and we just can't abide being called up when we're down and vice versa. I hope you understand. ;D
Children of the chosen state :lol
More like children of the corn :P
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This from a citizen of the territory that is Australia's version of Swamp People.
;D
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and we fly that flag proudly.
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:lol
And sadly, I want to be one. :'(
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Sydney made just $207,000 in profit in a premiership year. Imagine how much we would make if we won a flag.
http://www.afl.com.au/news/2012-12-18/swans-balance-big-year-with-modest-profit
2012 AFL CLUB FINANCIAL RESULTS
Collingwood: $7,835,080 profit
Richmond: $3,017,742 profit
Hawthorn: $2,023,720 profit
North Melbourne: $1,193,080 operating profit
Essendon: $401,429 profit
Sydney: $207,007 profit
Adelaide: $122,434 profit
Melbourne: $77,618 operating profit
Bulldogs: $136,679 operating loss
Carlton: $683,799 loss
Brisbane: $2,513,262 net operating loss
Port Adelaide: $6,300,000 operating loss