The Fighting Tiger Fund - "Giving 110%" [merged]

[Mr Magic]

in all honesty, absolutely fantastic effort by all   

Agree. Tiges fans have coughed up the coin, hope it actually manages to get this club off the canvas.

[yellowandback]

Strong rumour is that jster has paid the balance to berete all employees at the club in a 10 minute tirade at the b&f tomorrow night 

[one-eyed]

Vice President Maurice O'Shanassay tonight said we've past the $6 million mark   

[Phil Mrakov]

Vice President Maurice O'Shanassay tonight said we've past the $6 million mark   

Without sound though

[tony_montana]

So what will our debt level be at now? How much of the $6mill went to retiring debt?

[Dubstep Dookie]

So what will our debt level be at now? How much of the $6mill went to retiring debt?

3mill went on debt

[one-eyed]

So what will our debt level be at now? How much of the $6mill went to retiring debt?

3mill went on debt

Yep that sounds right. We had already paid $2m from memory and O'Shanassay tonight said as a result of reaching the $6 million target another million of debt would be retired. So we are on track to wipe out all our debt by 2014 as planned if not sooner if the FTF is continued on next year as alluded to in the last members survey.

[one-eyed]

Richmond's financial fillip
afl.com.au
10:14 PM Wed 05 Sep, 2012

RICHMOND'S resurgence as an off-field powerhouse has continued, with the club announcing its Fighting Tiger Fund has reached the ambitious $6 million target at Wednesday night's Jack Dyer Medal function at Crown Palladium.

More than 1300 Richmond members and supporters were in the room when vice-president Maurice O’Shannassy made the announcement.

Launched in 2011, the FTF was established to provide the club with a significant cash injection to allow it to reduce the burden of debt and invest in football.

At the time, Richmond chief Brendon Gale described the fund as the opportunity for the Tigers to break the cycle of mediocrity and to give itself the opportunity, to not only compete, but to once again be a great football club.

"The Richmond faithful have blown us away yet again. Their loyalty and passion for this club is its greatest strength and we owe every one of them a great debt of gratitude," Gale said.

"The best way we can repay those that have provided us with this wonderful opportunity is to deliver the on-field success we all crave, and that challenge will take a very important step over the off-season and into 2013."

The support of the FTF has allowed Punt Road Oval to undergo the biggest facelift in its history. It will have a state-of-the-art surface and the dimensions of Etihad Stadium.

"These works were critical to ensure our home was a facility fit for an elite sporting team. It will greatly enhance our capacity to properly prepare our football team," Gale said.

"As a result, Punt Road Oval will also be home to our stand-alone reserves side in 2014 - a decision we've brought forward by one year thanks to the FTF. That is a wonderful outcome for the Richmond Football Club.

"Beyond this, the FTF means our improved financial position will allow us to be active in the free agency market and more effectively manage our playing list moving forward.

"And by the end of this financial year, we will have wiped in excess of $2.5 million off our debt in the past two years.

"It has been an enormous effort and everyone who contributed should be proud of the role they have played in making it happen."

http://www.afl.com.au/news/newsarticle/tabid/208/newsid/146929/default.aspx

[one-eyed]

http://www.richmondfc.com.au/FTF/tabid/17103/Default.aspx

[rogerd3]

lets crank it up again.

[RedanTiger]

So what will our debt level be at now? How much of the $6mill went to retiring debt?

3mill went on debt

Yep that sounds right. We had already paid $2m from memory and O'Shanassay tonight said as a result of reaching the $6 million target another million of debt would be retired. So we are on track to wipe out all our debt by 2014 as planned if not sooner if the FTF is continued on next year as alluded to in the last members survey.

Last year we took $1m off the debt (http://oneeyed-richmond.com/forum/index.php?topic=12341.435)
This year we will retire another million of debt.
So from the FTF we pay off 50% to retire debt.
50% of $6m equals $2m.
By the end of this financial year (Oct 31?) we will have retired $2.5m.
Is the extra half million coming from operating profit.

Oh right it's accounting 101 at Richmond
 

[bojangles17]

lets crank it up again.

Why stop at 6 sheesh wouldnt suprise at all to reach 60 once we really get some momentum

[WilliamPowell]

50% of $6m equals $2m.

Last time I checked 50% of $6mil is $3mil not $2mil 

[Jackstar]

50% of $6m equals $2m.

Last time I checked 50% of $6mil is $3mil not $2mil 

Probably the Tigers CFO posting there Bill.   , 

[Dubstep Dookie]

50% of $6m equals $2m.

...erm........