One-Eyed Richmond Forum

Football => Richmond Rant => Topic started by: mightytiges on July 30, 2004, 03:46:44 AM

Title: Are football clubs really companies?
Post by: mightytiges on July 30, 2004, 03:46:44 AM

I was thinking about this in relation to the 100 signatures. What are football clubs classed as?  From memory we are registered as the Richmond FC Limited - meaning we are public company. Plus we do have around a $20 million turnover and make profits and losses  :(. However we as members are just that members. We aren't shareholders in the sense of your standard large company where you invest your money by buying shares (so you technically own a piece of the company) and semi-annually you receive cash dividends based on the performance of the company. We as members pay money in return for benefits, discounts of game prices, services, etc... It isn't a monetary investment. I'd reckon most long-term Tiger members consider more as a donation to keep the Club going. 

Title: Re: Are football clubs really companies?
Post by: Ox on July 30, 2004, 04:00:11 AM

LMAO
Footy clubs aren't just companies,they're rip offs as well,at least in todays AFL.

Used to be a club at least made a member feel like a member but now it's all so corporate driven.
LMAOOOO@Feeling like a paid up number
LMAOOOOO@The different number of living classes catered to by membership deals/paks offered by clubs.

Some of those "offers" should come with a tube of ky. :o

Title: Re: Are football clubs really companies?
Post by: WilliamPowell on July 30, 2004, 08:38:54 AM

The RFC is a company. But it is a company limited by guarantee - which means (in the most simplistic of terms) if the doors were to close every member (shareholders) is liable to repay the clubs debts to the tune of $50 each per member.


Regarding the the 100 signatures - granted the minimum number of signatures required under the Corps Law is 100 signatures if a company doesn't have their own constitution. In the case of the RFC we have our constitution so that can be changed which I am sure will happen after the events of the last 2 months. It is actually recommended that Companies limited by guarantee have their own constitutions because of thier unique situation :o

Title: Re: Are football clubs really companies?
Post by: mightytiges on July 30, 2004, 01:58:58 PM

Thanks for clearing that up WP. Nice to have the facts about the 100 signatures.

Hmmm.....$50 x 27,000 = $1,350,000.