Punt Road Oval Redevelopment [merged]

[WilliamPowell]

Was told they need 35 million.....dreamin'....this where our relative lack of support from the establishment and the big end of town compared to other big clubs hurts us and why we've always been chasing them....

When you say "the big end of town" and "the establishment" who are talking about exactly?

Govt, wealthy supporters?  Who

Not trying to a smart behind... just wanting to know to make sure we are on the same page

[Diocletian]

Was told they need 35 million.....dreamin'....this where our relative lack of support from the establishment and the big end of town compared to other big clubs hurts us and why we've always been chasing them....

When you say "the big end of town" and "the establishment" who are talking about exactly?

Govt, wealthy supporters?  Who

Not trying to a smart behind... just wanting to know to make sure we are on the same page

We don't have as many high profile supporters/backers with deep pockets & connections as the other "big" 3....

[WilliamPowell]

We don't have as many high profile supporters/backers with deep pockets & connections as the other "big" 3....

Get what you're saying

But why do they need to be high profile?

The deep pockets are more important

[Francois Jackson]

How much has the government chipped in here compared to say Lexus centre. I still shake my head each time I drive past that thing how they actually pulled that off.

FMD

[WilliamPowell]

How much has the government chipped in here compared to say Lexus centre. I still shake my head each time I drive past that thing how they actually pulled that off.

FMD

This time between the Feds and State it's $30+ million

You forget the we got a lot of $$ for the last redevelopment so over time we're going to have received more

[one-eyed]

https://www.heraldsun.com.au/news/victoria/stateoftheart-redevelopment-of-the-punt-rd-oval-has-ballooned-from-about-65m-to-about-100m/news-story/0e423fad063d8995e81e5530b6bb04e8

[Hard Roar Tiger]

How much has the government chipped in here compared to say Lexus centre. I still shake my head each time I drive past that thing how they actually pulled that off.

FMD

This time between the Feds and State it's $30+ million

You forget the we got a lot of $$ for the last redevelopment so over time we're going to have received more

If we only have 2/3rds of the funding with the balance to come from supporters than we might be waiting until the next pandemic before this thing gets built. Would be interested to see the ratio of funding that Geelong was able to secure ie. total cost funded by club, govts, supporters and borrowings to compare with what we are doing

[georgies31]

Bit rich from the club to ask supporters to bail them out especially in these tuff times we have crossed that river before. During covid, we paid full membership  price and seen little games basically got nothing while other clubs gave there supporters alot more. Club has had 100k members for long time and I'll be honest there rewarded little some stickers etc.

[WilliamPowell]

Bit rich from the club to ask supporters to bail them out especially in these tuff times we have crossed that river before. During covid, we paid full membership  price and seen little games basically got nothing while other clubs gave there supporters alot more. Club has had 100k members for long time and I'll be honest there rewarded little some stickers etc.

While I get your point to suggest supporters being ask "to bail them out" is a tad over the top IMHO

The Club isn't chasing money because they are broke, they are wanting supporters to contribute to reduce the need to borrow which I get. The Club worked to hard (with alot of help from the FTF) to get put of debt and build cash reserves.

However, I am peeved that yet again to help fund the redevelopment when it feels to me at least they are not being transparent. I have alot of questions...

How much are they expecting members and supporters to contribute?

Are they going to borrow?

The project's now a $100 million project, how much of that do they have?

Have a few others but that's enough for now

Just wish they'd give us more detai. The lack of detail is IMHO incredibly disappointing

[Francois Jackson]

Georgie is spot on. I'm not giving them one cent. What i give us enough without telling us why in full detail.

3 flags in recent times and they are still struggling for money. Wiild.

Either we can't manage money properly, we don't have good negotiators and/or the corrupt little thing called afl hate us.

Have a read of this and you wonder why supporters are peeed off having asked to contribute to a big 4 club.

[Tiger Khosh]

There isn’t a club in the land that can fund a redevelopment solely on their own.

Now whether asking club members to chip in is a good idea is certainly debatable. I would have thought a large chunk of this should be contributed by local/state government as well as the MCC as the redevelopment involves upgrades to Yarra Park as well.

[WilliamPowell]

There isn’t a club in the land that can fund a redevelopment solely on their own.

Now whether asking club members to chip in is a good idea is certainly debatable. I would have thought a large chunk of this should be contributed by local/state government as well as the MCC as the redevelopment involves upgrades to Yarra Park as well.

The state government has already contributed. Think they've done their bit. Yarra Council who knows? But agree they and the MCC should drop in some coin. But having said that how do we know if they have or haven't?  Club is failing us by not giving us more detail. Which is the reason for my angst.

Georgie is spot on. I'm not giving them one cent. What i give us enough without telling us why in full detail.

3 flags in recent times and they are still struggling for money. Wiild.

Either we can't manage money properly, we don't have good negotiators and/or the corrupt little thing called afl hate us

Another silly statement Frankie. Who said they're struggling with money and can't manage it properly?

The 2023 financials clearly show that isn't the case over $55 mil in cash & investments shows that things are being managed well. Of that $55mil, $35 mil of it is the monies received from the govt for the redevelopment. Money that they can't be used for anything else. Also what is clear (you don't need to be Einstein to work it out) that they earning interest on those monies. That's good managment

See: http://oneeyed-richmond.com/forum/index.php?topic=33170.0

Not sure what the AFL has got to with it TBH? They have only given limited $$ to Club cover the last 5-10 years. The Bulldogs didn't get much out of HQ for their most recent redevelopment. But having said I throw them in with a Yarra Council and the MCC who knows if they've given anything? No detail makes it near on impossible to give them a whack when we don't know

Finally, what is obvious from the 2023 financials and from this fundraising announcement is the Club needs more money to cover cost of the redevelopment.

As TK said no Club funds these things on their own. Our Club and to a large degree through its members has worked too hard to be debt free. I can only imagine the outcry on here if we were to end up there again. If we did; that would be mismanagement.

As I posted above the lack of detail (I call it transparency) around how much they currently have, what's needed and what the overall plan is to get this redevelopment done is the thing that has me peeved.

I just think we deserve to be treated with a bit more respect than what's been shown this week

[Francois Jackson]

if they weren't struggling or cant manage their debt then why hit up the members? Good management would have been to start this before construction before prices went through the roof. That is not smart business as im led to believe the permit was not issued yesterday

the cattery was fully funded by state and federal governments as well as the club was it not?

so 35 mil from RFC, 15 mil from federal and state (30 mil), that is 65 mil. Zero from city of yarra, mcc?

Seems like  members are asked to front up the extra construction costs because this stupid government has nfi what is going on, and RFC were too slow to get their arses moving?

[WilliamPowell]

if they weren't struggling or cant manage their debt then why hit up the members? Good management would have been to start this before construction before prices went through the roof. That is not smart business as im led to believe the permit was not issued yesterday

absolutely agree it should have been started earlier, even allowing for the over 12 month delay due to hearing around getting the OK to  demolish of the JD Stand. It should have been started. they said it was to start last October it and it didn't and now here we are 

And BTW currently the Club has no debt so I'm not sure how one manages a debt that doesn't exist

the cattery was fully funded by state and federal governments as well as the club was it not?

Yes and No. The State Govt completely funded the last stage. Prior to that Fed, State and Geelong funded the other 3 stages. I think people forget that Geelong are still here today because when they were broke instead of playing off their debt, the creditors accepted some miserly amount of $0.05 in the dollar. they also had a very generous benefactor who used to be their president.

so 35 mil from RFC, 15 mil from federal and state (30 mil), that is 65 mil. Zero from city of yarra, mcc?

I'm fascinated as to where this $35mil from the Club figure comes from? It keeps being bandied about but is anyone 100% certain?

As I said previously we have no idea if the MCC, City of Melb (Not Yarra Council) or the AFL are or have contributed anything because we haven't been told.

Seems like  members are asked to front up the extra construction costs because this stupid government has nfi what is going on, and RFC were too slow to get their arses moving?

Again what exactly are you expecting the State govt to do? Give more money? This is the same State Govt we kept getting told has sent the State broke.

And seriously what has the State government got to do with the fact the project still hasn't started after the gave their money back in 2020 and the Minister granted final approval in 2022?

I know many on here have no time for the AFLW but our women got shunted off PRO to Ikon Park last season because works were supposed to start on October 2023 but didn't. And now based on what the Club is saying works will start later this year and our AFLW team will shunted to god knows where for this season.... they deserve better. And just remember that one of the major reasons that ALL clubs have and are receiving funding from both levels of Govt is to improve facilities for women's sport....

I'll keep harping on about but we need and deserve more detail. There is so much speculation around so much of this project now when there shouldn't be. You can't ask members and supporters to stump up donations during a cost of living crisis without giving some respect and that means details

[georgies31]

if they weren't struggling or cant manage their debt then why hit up the members? Good management would have been to start this before construction before prices went through the roof. That is not smart business as im led to believe the permit was not issued yesterday

absolutely agree it should have been started earlier, even allowing for the over 12 month delay due to hearing around getting the OK to  demolish of the JD Stand. It should have been started. they said it was to start last October it and it didn't and now here we are 

And BTW currently the Club has no debt so I'm not sure how one manages a debt that doesn't exist

the cattery was fully funded by state and federal governments as well as the club was it not?

Yes and No. The State Govt completely funded the last stage. Prior to that Fed, State and Geelong funded the other 3 stages. I think people forget that Geelong are still here today because when they were broke instead of playing off their debt, the creditors accepted some miserly amount of $0.05 in the dollar. they also had a very generous benefactor who used to be their president.

so 35 mil from RFC, 15 mil from federal and state (30 mil), that is 65 mil. Zero from city of yarra, mcc?

I'm fascinated as to where this $35mil from the Club figure comes from? It keeps being bandied about but is anyone 100% certain?

As I said previously we have no idea if the MCC, City of Melb (Not Yarra Council) or the AFL are or have contributed anything because we haven't been told.

Seems like  members are asked to front up the extra construction costs because this stupid government has nfi what is going on, and RFC were too slow to get their arses moving?

Again what exactly are you expecting the State govt to do? Give more money? This is the same State Govt we kept getting told has sent the State broke.

And seriously what has the State government got to do with the fact the project still hasn't started after the gave their money back in 2020 and the Minister granted final approval in 2022?

I know many on here have no time for the AFLW but our women got shunted off PRO to Ikon Park last season because works were supposed to start on October 2023 but didn't. And now based on what the Club is saying works will start later this year and our AFLW team will shunted to god knows where for this season.... they deserve better. And just remember that one of the major reasons that ALL clubs have and are receiving funding from both levels of Govt is to improve facilities for women's sport....

I'll keep harping on about but we need and deserve more detail. There is so much speculation around so much of this project now when there shouldn't be. You can't ask members and supporters to stump up donations during a cost of living crisis without giving some respect and that means details

💯 agree with that if your going yo ask the members to fork out where is the transparency  ??. Provide more information or publicly or send letters or through email etc. Looks like off field we're waiting for thinks to happen and now have no choice.Its all good to bragging we got 100k members etc , but then you ask them for donations without the full details is a bit rich from the club and Benny for me.This has been handled messy.