1mil profit announced

[Mr. Blonde]

Brilliant effort by the club, just brilliant.

We must be paying about $1.05 to win the off-season premiership!

 

[Maddox]

Great result for the club

 

[Singapore Roo]

I think a key point that is missed here is the costs to the club of servicing such a debt. The reduction of a Million will free up cash that can go into other areas and make the club stronger.

 

[berniemccarthy]

You don't need to see them, we are talking about basic accounting principals.

Extra money we and the AFL donate is revenue. We don't spend it because it is donated to reduce debt. Money coming in impacts the profit and loss, repaying debt impacts the balance sheet.

I am not claiming it is a negative, as long as we contribute towards paying debt off there is always going to be a pool of money that the club wont spend so it will make the profit and loss statement look very healthy.

I am just happy for the club to balance the books, which it would do even without the debt repayment revenue.

Yes I am perfectly aware of the impacts of revenue and repayment of debt. More relevant is the amounts of spend which has still enabled a profit of significance to be made. If football spend is up and we still generate a surplus that is in excess of the box on donations then we are making proper progress. If donations equals surplus then I agree that result is not significant. Which was the purpose of the question. Seems that you are assuming with no hard facts as suspected. Oh and they are accounting principles. Principals head up schools.

 

[Roobunny]

Delighted to have made a $1 million profit, I'm not really that bothered on how, just that we have. It's been an exciting off season for the club, and that pleases me greatly.

 

[GarnerSmash]

Great result.

$1 million profit, along with what I am sure will be an increase overall in FD spend. Hopefully we can nab a few more thousand members and some more sponsorship $$$, do well on field and get a better FTA deal and off we go.

Oh yeah, hatters can go get ****ed.

Cheerio.

 

[MagicalRoos]

Tas you are walking a fine line between being a pessimist and a realist. Surely any reduction of debt is nothing but a positive. The interest on that stuff is a killer!

 

[Arden]

Oh yeah, hatters can go get ******.

:stern look

 

[GarnerSmash]

:stern look

Yep, him.

GAGF.

 

[DarwinRoo]

Haters of JB can especially get ****ed!

 

[Twinkletoes]

The once perceived insurmountable debt is taking a hammering far quicker than I expected. Seriously the club deserves enormous plaudits for doing so well in such a tough environment and starting out with a debt the size of you know who's you know what. The hatters may well hat but the more they do the more foolish, ignorant and vindictive they appear.

Even Euge moving on was meant to send us under. Well done to JB and his team, plus the board for their support, on achieving such an outstanding result.

 

[Shagga is all Class]

Building nicely, but imagine what 5 years of success will do? Exciting times.

This is the key and there are plenty of clubs like the Dogs and Saints which did not really do that we'll when they were up.

Yet to reach 100% TPP so I expect the on field stuff will come one way or the other.

 

[Jack Reacher]

Building nicely, but imagine what 5 years of success will do? Exciting times.

Caution: We had that and more in the 90's, unfortunately its no guarantee of anything! Great effort to start reducing the Debt though I was led to believe it was initially 3mil then went to 5mil, now I hear its come down from a figure of 8mil, wtf? Debt of 2.75mil is still significant and I'm not sure it has come down that much at all in 'reality', I think we need to be wary as there is a lot of spin-doctoring going on as well.

 

[GazzaRoo]

Caution: We had that and more in the 90's, unfortunately its no guarantee of anything! Great effort to start reducing the Debt though I was led to believe it was initially 3mil then went to 5mil, now I hear its come down from a figure of 8mil, wtf? Debt of 2.75mil is still significant and I'm not sure it has come down that much at all in 'reality', I think we need to be wary as there is a lot of spin-doctoring going on as well.

Current debt is the prefered term for most companies and its used which ever way they like to say whatever they like.
By the time we see the official numbers the debt could be different in either direction. Operating within our yearly budget is all that we should be aiming for and no debt full stop is the only real result. Till then no excitement thanks just calm measured responses. Head down ass up please kangas board members race only half run.

 

[Mav]

Yes I am perfectly aware of the impacts of revenue and repayment of debt. More relevant is the amounts of spend which has still enabled a profit of significance to be made. If football spend is up and we still generate a surplus that is in excess of the box on donations then we are making proper progress. If donations equals surplus then I agree that result is not significant. Which was the purpose of the question. Seems that you are assuming with no hard facts as suspected. Oh and they are accounting principles. Principals head up schools.

Not sure whats more enthralling, Accounting or English Semantics. Either way, an enjoyable post to read!

 

[GarnerSmash]

Current debt is the prefered term for most companies and its used which ever way they like to say whatever they like.
By the time we see the official numbers the debt could be different in either direction. Operating within our yearly budget is all that we should be aiming for and no debt full stop is the only real result. Till then no excitement thanks just calm measured responses. Head down ass up please kangas board members race only half run.

I am absolutely sure that no one on the face of this planet is more aware of this than our current administration. Despite the massive changes made to this club since our decision to reject the Gold Coast option, and they have been ****ing gigantic, the memory of what was NMFC circa 2008 will never be far from the mind of those who love the club. We were a mess. An amateur VFA level mess. I don't think as a club we will be getting ahead of ourselves at all.

 

[UmpiringFooty]

Good to see many nmfc supporters digging into their pockets and helping the club ease it's debt.

 

[Event Horizon]

Caution: We had that and more in the 90's, unfortunately its no guarantee of anything! Great effort to start reducing the Debt though I was led to believe it was initially 3mil then went to 5mil, now I hear its come down from a figure of 8mil, wtf? Debt of 2.75mil is still significant and I'm not sure it has come down that much at all in 'reality', I think we need to be wary as there is a lot of spin-doctoring going on as well.

Lots has changed since the 1990s. Obviously current admin seems pretty capable. But that aside, we live in a different world. The attention the game is getting in the media, not just on TV but on Facebook, Twitter and multitude of Foxtel footy specific content, I think ensures that when a team is dominating and playing attractive football, it is easier to get noticed.

In the 1990s we were great to watch, had some absolute stars of the game playing for us, but were still a largely internal project for internal consumption. We are probably still getting latent supporter base increase from those years, as some kids may have started supporting us since those days, and would now be in their early 30s, but this effect could be magnified by a huge amount in today's media age. I reckon Hawthorn and Geelong picked a tonne more new supporters over the last decade than we ever did.

If we play our cards right over the next 5-7 years, we could set this club up off the field as it's never been done before. Don't forget, Hawthorn wasn't really a "big" club until recently, despite being the most successful team of the past 30 years. Their games at Waverley were attracting 15k crowds as recently as 1999, and even later than that they were hardly a big club in 2004 with a small membership and a shit team. Look at them now.

 

[Jack Reacher]

Lots has changed since the 1990s.

Can't fault you there........debt is still debt though

I do agree that the Dawks should be our financial model as have come from a similar place to North, a nice point made there....Geelong are obviously our onfield/coaching model it seems.

 

[TennisPlayerAndy]

I am absolutely sure that no one on the face of this planet is more aware of this than our current administration. Despite the massive changes made to this club since our decision to reject the Gold Coast option, and they have been ******* gigantic, the memory of what was NMFC circa 2008 will never be far from the mind of those who love the club. We were a mess. An amateur VFA level mess. I don't think as a club we will be getting ahead of ourselves at all.

Who was drafted at the end of '08 again?

 

[ThePezDispenser]

Caution: We had that and more in the 90's, unfortunately its no guarantee ofanything! Great effort to start reducing the Debt though I was led to believe it was initially 3mil then went to 5mil, now I hear its come down from a figure of 8mil, wtf? Debt of 2.75mil is still significant and I'm not sure it has come down that much at all in 'reality', I think we need to be wary as there is a lot of spin-doctoring going on as well.

Are you taking the piss?

A 65% reduction in debt isn't coming down much in reality?

$5.35m even only at 5% interest is over $250,000 saved on interest repayments alone by the club.

Stick to what you don't know - i.e. Lachie Hansen!

 

[ThePezDispenser]

Who was drafted at the end of '08 again?

Connor Meredith?

 

[King Corey]

Who was drafted at the end of '08 again?

Quick draw O'Keefe?

 

[TennisPlayerAndy]

Quick draw O'Keefe?

Warmer.

 

[Heaps of fun]

Warmer.

Sammy Wright! Who could forgot his 32 possession game against the Dons last year.