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mightytiges:
Tigers outline plan to help pay debt
By Dan Oakes
The Age
December 23, 2004

It will be belt-tightening all round at Punt Road next year as the Tigers begin to chip away at the debt pile that sparked the recent campaign against president Clinton Casey and his board.

Casey went before the Richmond membership at last night's annual meeting to explain how the board intended pulling the club out of the $3 million hole.

In front of about 1000 of the Tigers' faithful, Casey explained that $1.35 million in savings had already been identified.

The football department will be streamlined to the tune of $800,000. This will be achieved through already-implemented cuts to the playing list and by paring back additional services agreements which allow clubs to pay players outside the salary cap to perform extra promotional duties.

But the bad news for fans is that $550,000 will be saved on "membership expenditure". In other words, the free stuff you get for signing up.

"Last year, with our new rewards and recognition program we were making an average net profit per member of $62. Previously our average net profit was $85, so that's $23 x 27,000 lost," Casey said.

"The reason for that was, we gave away caps and $14.95 sunglasses. The fulfilment package cost an extra $23 last year. The new reward and recognition program we put out, to try and bump the membership up, over time it would, but we haven't got the dough to invest $600,000, so we had to pare it back."

Casey said the club had been rebuilt root and branch.

"A couple of years ago we looked at what made successful clubs, premiership teams, what have been the common themes that those clubs have possessed," Casey said.

"Generally it's been stability and experience in the four key roles within the club.

"When you compare Richmond five years ago and Richmond today, we've now got a footy director with 30 years' experience, a senior coach who has 12 years' experience . . . a chief executive with eight years' experience in the Melbourne sports industry . . . and a president with five years' experience."

http://www.realfooty.theage.com.au/realfooty/articles/2004/12/22/1103391836664.html

mightytiges:

--- Quote --- "Last year, with our new rewards and recognition program we were making an average net profit per member of $62. Previously our average net profit was $85, so that's $23 x 27,000 lost," Casey said.

--- End quote ---

In other words $620,000!   

Thing is I haven't noticed the cut. Still have the sunnies and silver key ring from last year but now have a  new cap.   

LondonTiger:
Same here MT.

But see I dont get to use the Sunnies much in England, so I guess I will keep them and stick them on EBAY in years to come..

mightytiges:
Casey puts finances at Tiger forefront
9:12:31 PM Wed 22 December, 2004
Paul Gough
Sportal

Richmond president Clinton Casey, fresh from his huge election win, has vowed to restore the Tigers' finances next year even if the club continues to struggle on the field.

Casey was speaking at the Tigers' annual general meeting on Wednesday night where the club declared a loss of $2,194,974 for the 2004 season - a year in which the club finished on the bottom of the ladder for the first time since 1989.

But despite that massive financial loss, Casey and the rest of board easily saw off the challenge of the Charles Macek ticket at last week's election in which a record number of more than 13,000 Richmond members voted.

And Richmond football director Greg Miller - whose involvement in the election campaign was the key factor in swinging the vote Casey's way - gave his strongest indication yet he would remain on the board.

Despite his crushing election win, Casey was still heavily grilled by members at a packed Richmond AGM at Melbourne's Hyatt Hotel.

And he vowed the club's financial position would improve next year even if the team didn't.

"I just want to assure you that even if we have another poor year we will have a turnaround next year and that will come from the $1.5 million in expenses we have already cut," he said.

"I can assure you the bottom line will improve."

Casey said $800,000 of the savings had come through the reduction in football administration expenses and reduction in player payments while another $500,000 had come through the reduction of extra giveaways associated with membership packages last season.

And Casey told the meeting there were already signs the Tigers revenue would also increase in 2005 although the club was only budgeting for a small increase - in line with CPI.

This was in stark contrast to 2004 when the club budgeted for a revenue increase of $2.2 million but it only rose by $100,000, due to the team's poor performance, which led to the massive shortfall.

With the excitement generated by new coach Terry Wallace and the Tigers' 11 new players, who were all introduced to the crowd on Wednesday night - membership is already up 15 percent and reserved seat sales up 6.25 percent on this time last year.

Earlier Miller, who polled more than 1000 votes ahead of his nearest rival from either ticket during the election, thanked the Richmond members for their support and vowed to remain on the board despite speculation that with the election now over he would again concentrate solely on his duties as football director.

"I want to thank you for the opportunity to serve on the board, I take it as an honor and I will give it my best shot," he said.

Casey said the recruitment of key people such as Miller, Wallace and chief executive Steven Wright to the club as well, as the experience Casey himself has gained over the past five years, meant the club was now far better placed than when he took over in 2000.

"Back then we had a rookie president, a rookie coach, a rookie CEO and a rookie football manager," he said.

"But the club is now in a sound position with its leadership in the four key positions."

Casey also announced that three time premiership player Merv Keane had been appointed to the Tigers' football sub-committee while life memberships were awarded to 2004 Jack Dyer Medalist Joel Bowden and former board member Ian Dixon.

http://afl.com.au/default.asp?pg=news&spg=display&articleid=181638

om21:
I will say this on the AGM.......We have the rudest prick running our club. The way he cut off Macak at the end was a disgrace. Regardless, Mr.Cameron was enjoying the merry-go-round that he led us on.

All in all its very hard to judge now, because any astute business man will tell you that every board is tight with their numbers and usually can justify them. The issue is with how they came up with their numbers....if that makes sense.

Thumps up to the club smarts for having the bar open.....absolutely brilliant! Seriously our club is run by amatuers....does anyone care about the small things?

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