One-Eyed Richmond Forum
Football => Richmond Rant => Topic started by: one-eyed on August 09, 2013, 04:33:29 AM
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Record overall debt forecast
by: Greg Denham
From: The Australian
August 09, 2013
UP to 10 AFL clubs - the most on record in the same season - have forecast a financial loss this year.
While the overall profitability of the 18 clubs has been estimated at amounting to a combined $5 million, the figure will be inflated by powerhouse clubs - Collingwood, West Coast and Hawthorn.
Club chief executives were informed of their overall financial state of play by the AFL at a two-day conference in Victoria that ended yesterday.
The only clubs who have budgeted for a profit this year are the Magpies, Eagles, Hawks, Geelong, North Melbourne, Fremantle, Richmond and Essendon.
The Bombers' end financial result will depend on their ongoing legal costs arising from their defence of the ASADA/AFL investigations, and potential AFL Commission recommendations.
Sydney's result is also believed to hang in the balance between a loss and a small profit, depending on how far it goes into the finals.
The most disturbing data received was the record overall debt now carried by the clubs.
The league revealed that combined club debt had jumped from about $50m last year to $95m.
Gaming debts soared to $55m, but much of this is attributed to the additional costs incurred in establishing venues and a change in August last year to the gaming formula where clubs had to purchase 10-year licences for each po-ker machine.
AFL clubs that operate gaming venues said they were confident of eliminating the debt over time.
The overall debt figure includes $9m owed to the AFL, and $31m owed to banks, which has significantly decreased in recent years.
Two years ago, clubs carried bank debts of $46m.
Several financially struggling clubs appear certain to have their AFL assistance funding increased for next year as an interim measure before the league settles on a revised equalisation formula.
Clubs were informed that total player payments, including additional services agreements, would increase next by more than $600,000 a club.
Salary caps will rise from $9.14m a club to $9.63m, while additional services agreements will increase by $111,000 to $963,000.
Next season's pre-season appears certain to be condensed to a two- or three-week sanctioned practice match series, to allow the AFL premiership season to start a week earlier and extend to 24 rounds, with two byes per club.
http://www.theaustralian.com.au/sport/afl/record-overall-debt-forecast/story-fnca0u4y-1226693838140
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WTF does Sydney do with all their money? They have the most lucrative jumper + shorts deal in the AFL, an extra $1M for Tippett, the AFL just stuffing bankroll these stuff heads. How many years and how many flags before they can stand on their own two feet? STFD and have another glass of chardy you stuffing wankers.
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Most surprising info in this article is that North are budgeting for a profit.
If this is correct their handful of supporters must be the wealthiest in the competition.
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If the Swans still aren't financial after 30 years, then the GWS are going to be sucking the coffers dry until about 2050.
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Most surprising info in this article is that North are budgeting for a profit.
If this is correct their handful of supporters must be the wealthiest in the competition.
They save money by not laminating their memberships
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I thought they just had an A4 poster at the gate with all their members' faces on it "Allowed Entry"
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Must be a lot of white space on that A4 page.
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Wait a minute..... Didn't I post pictures of what I thought footy would look like in 2050?
All that research, posting pics and then a nap and I wake up to find it all gone.
What happened?
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LMFAO at deleting pics of Lingerie Football League
the knitting needles have been sharpened today.
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whotf gets offended by lingerie football pics? :huh
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dunno, but they are hardly prudes, id be assuming.
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... Oh well, the research was fun and I suddenly got very very sleepy after I posted. ;D
I'd be happy to research the LFL for anyone that's wants me too. :cheers
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LMFAO at deleting pics of Lingerie Football League
the knitting needles have been sharpened today.
:lol I miss all the good stuff when im busy ::)
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I thought they just had an A4 poster at the gate with all their members' faces on it "Allowed Entry"
Not quite true. They cuts costs and used A5. They found that was plenty of room to fit 2 photos. :shh
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... Oh well, the research was fun and I suddenly got very very sleepy after I posted. ;D
I'd be happy to research the LFL for anyone that's wants me too. :cheers
PM of the league's "top" players would be appreciated. :whistle