Why am I required to give you an exact figure?
You and granted others keep saying we should overspend on the cap but no one seems to be prepared to give a number. It's fine to say overspend but surely there needs to be a limit
So I asked the question. TBH I am not sure why you seem to be offended that I asked.
How much profit did we make during the dynasty years? Think it was over 4 million in each of 2018 & 2019 I'm sure that would more than cover it
How do you come up with profits from 5-6 years ago will “more than cover it” in 2024 or beyond??
Our “dynasty years” I would say were 2017 to 2020. The soft cap was slashed by HQ in 2021so anything prior to that is not really relevant
Here are the Profits 2017 to 2023:
2017 $3.1 mil
2018 $4.2 mil
2019 $4.1 mil
2020 $217k (included $10.8 mil in job keeper)
2021 $3.2 mil (includes $3.7 job keeper and state govt grant for the redevelopment of $2 mil
2022 $2.2 mil (includes $8mil state govt funding for the redevelopment)
2023 $2.3 mil
So yes the 2 seasons you mentioned $4mil profits were recorded but a fair whack of that was used to finance 2020 with the help of job keeper.
So far we have received over $15mil from the State Govt for the redevelopment. That money cannot be spent on anything else but the redevelopment. Ditto with any funding from the federal government. Any monies through the Aust Sports Foundation (FTF now the Strong & Bold Foundation) can only be used for the redevelopment.
It was even mentioned in the 2023 financials that the 2023 result included “significant contributions to the redevelopment”. Again this means those funds cannot be used for anything but the redevelopment. I really hope that people understand that. You may not like it but there are legal conditions attached to those funds
or do you think I'm suggesting we go 10 million over or something ......
No, I don’t but I have no idea how you or anyone else thinks we should over spend by. Over spend by $500k and it costs you $1mil. Over spend by $1 mil and it costs you $2mil
During the course of this season I have read people wanting contracted assistant coaches sacked, the magic man sacked, we lost Matt Clark so use his wage etc …and have used we are big club we can afford it without considering the ramifications of doing it. People see the cash in the bank figure and think it can just be spent on anything. Well guess what it can’t.
why are you so sceptical/concerned about it anyway if you reckon everything is hunky dory and the redevelopment isn't a factor...or don't you think a club our size could manage it and why don't you?
The redevelopment isn’t a factor because the funds received for the development aren’t available for use for anything but the redevelopment.
I actually think the Club is doing the right thing by not over spending especially in 2024 when we’ve had a horrific season on field because it will impact on the bottom line. Drop in membership, low crowds… let’s see in a couple of months where things land.
As I’ve said many times we pay the full soft cap the issue isn’t whether we should over spend but what are we spending it on. Are we spending in the right areas. My personal view is that we haven’t and I’ve said multiple times that but no one ever acknowledges that.
Bottom line is none of us have any idea where the soft cap is being spread we are just guessing.
How much do think some other clubs are going over by and why can they but we can't?
It has been well documented only 2 Clubs have over spent the soft cap since it was slashed and paid the soft cap tax. And for both it has only been for one season
They are Hawthorn who had to pay Clarkson over a million bucks to sit on his backside.
Essendon is the other because of the payout to Rutten
Up until the end of 2023 no other CLub has over spent.