One-Eyed Richmond Forum
Football => View from the Outer => Topic started by: mightytiges on May 12, 2006, 12:19:35 AM
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According to TFS, the Blues are up the creek financially with a cash flow deficit for the year of around $1.0-1.5 million :o.
Apparently they don't have enough money to pay their players and will seek help from the AFL. The Blues will also ask if they can pay less than the 92.5% minimum of the salary cap.
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OK. Firstly I can't see how Carlton can be doing so badly, is this the aftermath of Optus affecting them?
Secondly, after how long do the AFL get fed up and say alright shape up or ship out? I don't think it would be good for footy for the Blues to be asked to relocate (and traditionally they seem to have enough support in both supporter numbers and the corporate world for this to only be short term), but I think I would enjoy seeing the arrogant blues supporters being pushed around a bit nonetheless.
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Going by what their new president was saying it seemed those backloaded player contracts thanks to previous admins were still a major issue but he alluded that they run out at the end of this year. For a club in financial dire straits and reigning wooden spooners they are still paying near maximum of salary cap in TPP :o.
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Carlton wants effectively a $10 million handout and a free early priority pick for themselves. They have to be kidding ::).
Sinking Blues seek AFL rescue
By Jake Niall
May 16, 2006
CARLTON faces its financial high noon tomorrow when it meets the AFL Commission and requests that the league effectively wipe out its debt with a massive $10 million rescue package involving the sale of Princes Park.
The Blues already have given the AFL a draft of a club financial report in which they warn that the club's financial position is not sustainable and suggest that the league pay them $6 million up front to take over the lease of Princes Park (now called MC Labour Park) — a payment that would wipe out their debts.
Tomorrow's meeting is the first crucial test of Graham Smorgon's presidency, with the new president, who is up for election early next year, under pressure to secure a deal in which Carlton extricates itself from its financial morass.
In other major developments:
■The Blues are considering asking the AFL to reconsider the issue of priority draft picks, arguing that Carlton should qualify for an early "double dip" if it won only four games this year — even though it won four-and-a-half, rather than the new maximum of four games last year.
Under the revised rule, a team can only receive a pre-draft priority pick (i.e., pick 1) if it wins four games or less in one season. Carlton, having won four plus a draw in 2005, would only qualify for a "priority" draft choice at the end of the first round (pick 17) in the event the club won only four games, which it expects to better anyway.
■ The Age has learnt that former president Ian Collins, contrary to some suggestions, would have narrowly survived a boardroom vote 5-4, but chose to leave rather than continue to lead a divided board.
■Carlton had a big disagreement with the AFL about the upfront payment of $2.5 million for shifting most of its home games to Telstra Dome, with the Blues strongly arguing — unsuccessfully — that they were entitled to $3 million under the terms of the deal.
■The AFL's own study of Carlton's finances, which was completed by leading accounting firm KPMG, will have a big influence on whether Carlton clinches its critical deal to sell the lease of its home ground to the league. If the lease deal does not proceed, the Blues will have little choice but to apply for special assistance, formerly the competitive balance fund, that is paid to the Bulldogs, Kangaroos and Melbourne.
■In their own strategic financial paper, written by Carlton board member and merchant banker Marcus Rose with input from Collins, the Blues say that their true financial position has been camouflaged by one-off extraordinary payments, such as the $2.5 million from Telstra Dome, the AFL's Waverley Park money ($1.7 million) and the 2003 debt discounting deal with the bank in which the club wiped off $4.2 million in debt, instead of receiving $1.4 million per year in compensation from the AFL (money the AFL owed for the transfer of non-Carlton games at Princes Park).
Thus, the paper argued that Carlton's financial position, given its on-field struggles, was not sustainable unless it received assistance, with the lease sale — about which the AFL has made sympathetic noises — earmarked as the best way forward.
■Carlton's strategic paper, which recommended the club sell the Princes Park lease to the AFL, suggested that it should not only receive $6 million up front for selling the ground lease, but that the league should pay $2.5 million towards the proposed redevelopment of the ground, and pay for the upkeep — currently about $1.8 million — a grand total of more than $10 million in the first year of the package.
■The strategic paper, details of which have been obtained by The Age, suggests that the Blues should pay a modest $100,000 in rent to the AFL as the main tenant at Princes Park.
http://www.realfooty.theage.com.au/realfooty/articles/2006/05/15/1147545265024.html
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Perhaps North could buy Carlton and merge them to become the North Melbourne Kangaroos, based at Arden St, wearing blue and white stripes and having won 4 premierships. Then move to the Gold Coast - any spare trophies with Carlton written on them could be sold at a jumble sale for 50c each.
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Perhaps North could buy Carlton and merge them to become the North Melbourne Kangaroos, based at Arden St, wearing blue and white stripes and having won 4 premierships. Then move to the Gold Coast - any spare trophies with Carlton written on them could be sold at a jumble sale for 50c each.
;D
Here's a $1 for 72 and 82 ;).
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Carlton's great white hope (Waite) might have done his knee.
Not much going right for them.
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Carlton's great white hope (Waite) might have done his knee.
Not much going right for them.
That's terrible news. Poor guy.
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Almost starting to feel sorry for them
Remember when nothing went right for us, so have some sympathy.
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I heard on the tv they something like 93 points down and have only kicked 2 goals :o. There's been plenty shallackings this year since the new rules have come in.
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Almost starting to feel sorry for them
Remember when nothing went right for us, so have some sympathy.
for waite yes - Carlton Nup.
I said to a mate we need these traditional rivals - cause it is just so much fun when we beat em. His reply na Frawley em let em fold - :rollin
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The AFL should fine Carlton $10m for bringing the game into disrepute, or even just for no reason.
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Blues' $1.5m handout
30 May 2006 Herald Sun
Damian Barrett
CARLTON is expected to receive up to $1.5 million to help it through to the end of the year.
The Blues have been in regular contact with the AFL, pleading for assistance, and it is understood a breakthrough is near.
The form of the assistance is not known, with the Blues, $7 million in debt, hoping it is a grant.
Many of the 15 rival clubs argue it should be a loan.
Complicating the issue for the AFL is the fact Carlton does not qualify for assistance under the strict criteria attached to the annual special distribution fund.
Melbourne, the Kangaroos and the Western Bulldogs all receive at least $1 million annually from special distribution funds because they suffer demographically and historically when lined up against rivals.
More good news for Carlton may come as early as today, with the possibility the State Government will, in its budget, commit to help develop Princes Park.
Melbourne City Council and the AFL are also expected to contribute to the upgrade of the tired stadium.
The Blues have submitted a proposal to the AFL that it buys out their 30-year lease on the ground.
Essendon chief executive Peter Jackson last week told the Herald Sun the Blues "don't qualify for financial assistance in the form those other three clubs do".
"And you have to be careful not to set a precedent for financial assistance based on bad management decisions," Jackson said.
http://www.heraldsun.news.com.au/footy/common/story_page/0,8033,19300617%255E19742,00.html
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Essendon chief executive Peter Jackson last week told the Herald Sun the Blues "don't qualify for financial assistance in the form those other three clubs do".
"And you have to be careful not to set a precedent for financial assistance based on bad management decisions," Jackson said.
http://www.heraldsun.news.com.au/footy/common/story_page/0,8033,19300617%255E19742,00.html
I think Essendon should shut up. Considering they committed the same crime as Carlton (salary cap), they should consider themselves lucky they didn't get the same penalties the Blues did. Can't remember what they got, but sure wasn't as harsh as the Blues losing all their drafts, etc.
Not that i'm sorry for the Blues (althuogh I can appreciate what their supporters are going through), but the Bombers didn't suffer much pain and are a smug lot :wallywink
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Bereft Blues set for $1.5m AFL lifeline
Jake Niall
The Age
June 21, 2006
THE AFL is poised to approve emergency funding that will enable Carlton to meet its financial obligations until the end of the season, staving off a looming cash crisis.
Carlton wants about $1.5 million immediately, which the AFL is set to approve on Saturday at a meeting of the AFL commission in Sydney.
AFL chief executive Andrew Demetriou has quietly been making the case to other clubs that Carlton's financial position is sufficiently dire that it needs immediate relief, with the Blues receiving strong support from rival clubs.
Full article continues: http://www.realfooty.theage.com.au/realfooty/articles/2006/06/20/1150701552645.html
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This is why the RFC must not go to the AFL cap in hand. The AFL virtually takes control over the club as they will do with Carlton:
Carlton offer comes with strings attached
18 July 2006 Herald-Sun
Damian Barrett
THE AFL would take a seat on the Carlton board under a proposal linked to its $1.5million emergency funding package of the troubled club.
Full article: http://www.heraldsun.news.com.au/footy/common/story_page/0,8033,19824254%255E20322,00.html
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Carlton granted $2 million help
Fox Sports
July 19, 2006
THE AFL has granted Carlton $2 million in financial assistance to help the cash-strapped club reduce its debts.
The assistance package comprises a $1.5 million interest-free loan and a $500,000 grant from the league's annual special distribution to be directed towards the maintenance of MC Labour Park.
The AFL also appointed one of its commissioners, former Blues dual premiership captain Mike stuff, to act as an independent observer on the club's board.
The AFL has given Carlton a deadline of October 31, 2008 to pay back the $1.5 million.
The league was committed to assisting the Blues address their parlous financial plight, which includes debts of more than $6 million, AFL chief executive Andrew Demetriou said.
"The AFL is committed to having 16 strong clubs, and the whole competition is a beneficiary of having our clubs in a healthy financial state," Demetriou said.
"Carlton is a great club, a great sporting brand, and it has contributed enormously to the success of the competition over a long period."
Carlton president Graham Smorgon described the deal was a "very reasonable outcome" for the club.
"It's very positive news for Carlton," Smorgon said.
"It really does meet our cash-flow requirements in the short term, and provides the opportunity for Carlton to regroup and go forward."
The Blues must present the AFL with monthly statements and regular business plans to ensure the club is on the right path to turning around its finances.
http://foxsports.news.com.au/story/0,8659,19842566-23211,00.html
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Nice little $500,000 bonus ::)
Do we get that if we ask?
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Nice little $500,000 bonus ::)
Do we get that if we ask?
We didn't overcapitalise and send ourselves broke by building a great big stand on our ground despite the AFL saying no future games will be played there ::).
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Nice little $500,000 bonus ::)
Do we get that if we ask?
We didn't overcapitalise and send ourselves broke by building a great big stand on our ground despite the AFL saying no future games will be played there ::).
The good thing about this is Carlton will never be able to say again we're keeping you bottom teams afloat lol
Pompous bastards no more :rollin
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Nice little $500,000 bonus ::)
Do we get that if we ask?
We didn't overcapitalise and send ourselves broke by building a great big stand on our ground despite the AFL saying no future games will be played there ::).
The good thing about this is Carlton will never be able to say again we're keeping you bottom teams afloat lol
Pompous bastards no more :rollin
:lol
CFC = Charity football club
Elliot calling other club "rabble" has come back to bite them back on the bum :stupid
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Carlton should be abolished, and we should get the 72 and 82 cups. This should be the case for anyone who lost a GF to Carlton, except for Collingwood. Those ones should go to Freo.
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See Carlton want Kouta to take a $900,000 paycut.
http://www.heraldsun.news.com.au/footy/common/story_page/0,8033,20078227%255E20322,00.html