$5 a Week to save create RFC powerhouse

[PuntRdRoar]

Ive written this in the other  thread, considering the disgraceful state of affairs at Punt Road financial wise. I believe the club should ask the supporters who love the club to pledge $5 a week from there income to secure the clubs future.

Done via direct debit, the club should seek out 10,000 supporters willing to do this. Raising $50,000 a week- this income donation (tax) will raise $2.6 million a year in clear net revenue for the club. And put in place a foundation to turn the club into a financial powerhouse.

Of course some supporters may decide they could afford say $10 a week (10,000 supporters) will produce $5.2 million in extra revenue. I urge Steve Wright to look at this, Alot of us love the Tiges and would be happy to contribute this extra amount above our membership contributions.

[the_boy_jake]

Thats not a bad idea Ramps..... I'd have no problem at all with doing it.

[Razorblade]

Not a bad idea at all, but first off getting 10,000 people to do it might be a little bit hard!

Second off, why give money to the same people who put us into debt?

Personally i'd have no problem putting my money into the club, but not just so Casey and Miller can blow it on grandeous plans!

[PuntRdRoar]

my plan is a debt plan..aimed at knocking off the $4 million we owe. beyond that id contribute further but only if the money is used to buy property around Richmond and the CBD and to put together an investment trust which has blue chip stocks in it. My aim is to ensure the financial stability of RFC in the first instance and then to ensure RFC becomes a financial powerhouse.

I agree 10,000 people sounds like alot but we have close to 30,000 members. Surely 10,000 of those are passionate enough to contribute $5 a week via direct debit. poo $5 a week is like 1 coffee and a donut lol at a shopping centre.

[mightytiges]

Not a bad idea RT. It would be virtually equivalent to us having 40,000 members.

You'll probably also need to say what the money will be allocated towards such as TPP or wiping off debt or towards getting and maintaining the best training facilities for the players through major infrastructure projects. I guess the JDF is already there for the latter.  People are more likely to do it if they can see something definite and positive come out of it.

[Edit: I clicked before reading your last post.]

Second off, why give money to the same people who put us into debt?

CEO Steven Wright didn't put us in debt . This was his first year. Secondly we won't be again putting good money into propping up a  poor coach and the playing list he mostly constructed (or should that be bulldozed ) with shocking recruiting. 

[mightytiges]

$5 a week is like 1 coffee and a donut lol at a shopping centre.

Well that counts our Homer Simpson lol.

It's selling the idea and getting people to sign up that's the hard bit. Once they are most people won't notice $5 a week out of their pay packet as it's done through direct debit.

[Razorblade]

CEO Steven Wright didn't put us in debt . This was his first year. Secondly we won't be again putting good money into propping up a  poor coach and the playing list he mostly constructed (or should that be bulldozed ) with shocking recruiting.

But Casey, Miller and co. did!

They are evil i tells ya! 

[mightytiges]

CEO Steven Wright didn't put us in debt . This was his first year. Secondly we won't be again putting good money into propping up a  poor coach and the playing list he mostly constructed (or should that be bulldozed ) with shocking recruiting.

But Casey, Miller and co. did!

They are evil i tells ya! 

Well hopefully we have now exorcised the demons of the past 25 years lol.

btw Miller wasn't on the board either at that time nor in charge of the books .

[Moi]

A few years back they used to have people pledge money for every win the club had and you could put in $5, $10, $20 whatever.  I did it for a couple of years, but that was when we were only winning one or two games a year lol.  Maybe they shuold reintroduce something like that as well - wouldn't hurt and is an incentive for the club to keep on winning i guess.

[WilliamPowell]

Interesting idea. Initially, RT you mention an income donation (tax) - I don't think there is anyway the donations could be considered a Taxable donation - if that's what you are suggesting( ??? I am not sure on that - sorry if I've read that wrong).

my plan is a debt plan..aimed at knocking off the $4 million we owe.

I think we are getting blinded by this "$4 million" debt. That is our current "cash liabilities" (or current liablilities) predominantly a bank overdraft which is granted, a pain because it would attract a big interest bill.

However, most businesses operate with some sort of overdraft system and the RFC is not different. The amount of the overdraft would vary during different parts of the year. At this time of the year it would be higher than say - April when it is peek membership time. IMV it is not possible for a footy club or any business that is tunring over $20+ million a year not to require at sometime some form of overdraft. Could you imagine the outcry if all these people put in all this money and the financials at the end of the year said - Bank overdraft = $1 million or even $500K.

But as I have said on a number of times our total assets over total liablilities is deficient by about $600-700k. IF we make a profit this year of say $100k then our total overall debt will be about $500-600K. Compare this to the likes of the Bulldogs, North and Melbounre and things are not as gloomy as they the story in the paper the other day makes out.

I understand the point in the article that Steven Wright made and I agree we have to reduce that debt but I just don't think it is a easy a raising $4 million and saying we have no more debt. Ultimately the RFC is a business

Don't get me wrong I'd be happy to contribute - but I have reservations that people may think that once all this money is raised that the end of the hard work of making the "business" work is over

beyond that id contribute further but only if the money is used to buy property around Richmond and the CBD

The last club that I remeber buying losts of real estate was Collingwood when Allan McAllister was president. He convinced the Pies board to buy up all these properties around Victoria Park - it was a disaster - they made massive losses on the prpoerties and nearly sent the club broke - can be a very risky venture

A few years back they used to have people pledge money for every win the club had and you could put in $5, $10, $20 whatever. I did it for a couple of years, but that was when we were only winning one or two games a year lol. Maybe they shuold reintroduce something like that as well - wouldn't hurt and is an incentive for the club to keep on winning i guess.

I am pretty sure they tried to do that to raise funds for the JDF in the last few years but I don't think it's been very successful - IIRC they were looking for pleadges of $100 per win

 

[PuntRdRoar]

Collingwood wanted to build PieLand or some crap like that. I want this money to be used pay down any debt we have, and to buy property which will return high yields and rents back to the club. Im not proposing Disneyland lol...just a proposal that RFC can implement to develop a decent investment portfolio.

[DallasCrane]

It's usually a battle for me to come up with enough money for rent and bills.

Not sure that I can find an extra $250 a year for a club that pays some of it's people salaries in the range of $600,000 pa.