Trade payables to the AFL now over $10m whilst borrowings have reached $7.3m. Their financial position is a complete disaster.
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Resource 2017 Financial Results
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Trade payables to the AFL now over $10m whilst borrowings have reached $7.3m. Their financial position is a complete disaster.
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league would be concerned to say the least
telsor
Hall of Famer
They all know the income, but do they all measure and record it the same way?
If a membership entitles you to access to the social club, is it all membership money, or does some count as social club money? Do all clubs work it out the same way? What about merch sent out with membership? How is that scarf accounted for? Do all clubs do it the same way? What about members only merch? Is that the same?
Those differences mightn't amount to much, but you want them all to do it exactly the same way...For that, there would need to be changes, and sometimes even seemingly simple changes need notable changes to processes, and thus, costs. Not to mention, setting and maintaining those standards while ensuring they comply with all relevant laws and regulations across multiple jurisdictions would be a job in itself.
There was a $1m impairment due to the collapse of their joint major sponsor (Camperdown Dairy) which is a fair chunk of the overall loss.
They really need Springfield to get off of the ground and better on-field performances to turn the ship around.
Snake_Baker
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Does this mean if you take away the poker machines, they are 15 million in the red?
telsor
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I think those trade payables are starting to get into the situation where the AFL's auditors should be forcing them to call them bad, or at least doubtful debts and start working towards writing them off. As it is the AFL has a $10M asset on their books they're unlikely to ever actually receive, which is, shall we say, misleading (as in it'd be arguably fraudulent if it actually mattered for anything).
Of course, doing that would trigger all sorts of issues with the Lion's other creditors (not to mention other clubs) and wouldn't really do all that much towards fixing the underlying problems (indeed, it'd make it worse).
telsor
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telsor
Hall of Famer
An interesting aside from Hawthorn's report.
They have financials for both club and consolidated entities side by side (a good thing IMHO, but anyway), and box hill football club is listed as one of those entities that make up the consolidated element, and with some categories (membership, match day revenue, merch), the difference in figures would seem to give a decent view of what BH makes.
VFL clubs revenue streams are small by comparison.
Membership $2,354
Match day Income $113,578
Merchandise $4,628
There is probably also be some income in other fields where the breakup is less clear. (e.g. marketing, AKA sponsorship)
There is also a reference later to Hawthorn giving BH $734,307 towards operating expenses.
So revenue would be a bit over $850K, and they are clearly utterly dependent on HFC (which is actually why they're listed on the report, HFC doesn't technically own them, they just control them so much they have to be included).
That a couple of stand alone clubs continue to survive, even prosper, is amazing.
They have financials for both club and consolidated entities side by side (a good thing IMHO, but anyway), and box hill football club is listed as one of those entities that make up the consolidated element, and with some categories (membership, match day revenue, merch), the difference in figures would seem to give a decent view of what BH makes.
VFL clubs revenue streams are small by comparison.
Membership $2,354
Match day Income $113,578
Merchandise $4,628
There is probably also be some income in other fields where the breakup is less clear. (e.g. marketing, AKA sponsorship)
There is also a reference later to Hawthorn giving BH $734,307 towards operating expenses.
So revenue would be a bit over $850K, and they are clearly utterly dependent on HFC (which is actually why they're listed on the report, HFC doesn't technically own them, they just control them so much they have to be included).
That a couple of stand alone clubs continue to survive, even prosper, is amazing.
You are looking for problems, its just not hard for a final year book keeping student who recognises a chart of accounts.
telsor
Hall of Famer
Yes, I'm considering the problems with bringing in such a proposal. When something is proposed, it's usually a good idea to weigh up the 'why' and the 'why not' and look at it the perspective of those who need to make the change. ( You'll find I tend to do this a lot, and if I'm usually doing the 'why not' it's not just me being contrary, but rather that the person making the proposal has already covered the 'why' )
When you do that for the AFL with this issue, the 'why not' clearly outweighs the 'why'.
I'm not sure that financial report is really that much of a shock. There was also a $2.5m jump in football department expenses. What portion of that was aflw? What portion was recurrent and what portion related to facilitating the renewal of its football department?
Anyway, looks highly likely that "the reserve" will go ahead and things are looking better on field. Things will turnaround
Sure beats canning your club for non disclosure.
Questions have been asked of the Tiges to no avail.
In the Demons' report they state that their AFLW team cost them $700k and that they got $1.9m in additional AFL distributions due to the increase in player payments from the agreement with the AFLPA. You'd reckon the Lions' figures would be equivalent to these.
Ahh, course, the eba step payment as well.
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2017 AFL Club Report Summary
Annual Reports
Football Department spending
AFLW Cost
Annual Reports
- Brisbane 2017 Annual Report
- Essendon 2017 Annual Report
- Hawthorn 2017 Annual Report
- Melbourne 2017 Annual Report
- Richmond 2017 Annual Report
- Hawthorn - $70,742,464
- Essendon - $65,165,407
- Richmond - $65,164,372
- Brisbane - $52,060,420
- Melbourne - $51,988,711
- Essendon - $5,054,186
- Hawthorn - $4,933,128
- Richmond - $3,063,298
- Melbourne - $1,363,060
- Brisbane - ($2,261,990)
- Hawthorn - $19,087,366
- Brisbane - $15,687,630
- Essendon - $13,351,296
- Melbourne - $11,641,049
- Richmond - $7,180,170
- Brisbane - $3,744,228
- Melbourne - $3,720,679
- Essendon - $2,276,154
- Richmond - $942,060
- Hawthorn - No costs available
- Richmond - $57,984,202
- Essendon - $51,814,111
- Hawthorn - $51,655,098
- Melbourne - $40,347,662
- Brisbane - $36,372,790
- Essendon - $2,778,032
- Richmond - $2,121,238
- Melbourne - ($2,357,619)
- Brisbane - ($6,006,218)
- Hawthorn - Not available.
- Hawthorn - $12,446,104
- Essendon - $11,971,985
- Melbourne - $8,057,900 (includes fundraising)
- Brisbane - $5,530,944
- Richmond - Not Available
- Hawthorn - $164.49 per member
- Essendon - $176.66 per member
- Melbourne - $190.80 per member (includes fundraising)
- Brisbane - $258.92 per member (includes gate)
- Richmond - Not available
- Melbourne - $5,366,974
- Hawthorn - $5,117,239
- Essendon - $2,368,742
- Brisbane - included in Membership
- Richmond - Not available
- Essendon - $14,326,352
- Hawthorn - $14,155,211
- Richmond - $13,638,619
- Melbourne - $9,399,004
- Brisbane - $8,889,077
- Hawthorn - $2,088,983
- Essendon - $2,066,030
- Melbourne - $1,085,881
- Brisbane - $771,375
- Richmond - Not Available
- Brisbane - $20,932,600
- Melbourne - $15,713,629
- Richmond - $13,627,896
- Essendon - $12,945,389
- Hawthorn - $10,861,443
Football Department spending
- Melbourne - ($24,223,494)
- Brisbane - ($24,712,245)
- Essendon - ($23,687,766)
- Hawthorn - Not Available
- Richmond - Not Available
AFLW Cost
- Melbourne - ($699,970)
- Hawthorn - $66,430,723
- Essendon - $45,362,544
- Richmond - $37,332,992
- Melbourne - $18,012,858
- Brisbane - $9,299,059
- Brisbane - $22,432,913
- Hawthorn - $19,898,341
- Essendon - $12,854,759
- Melbourne - $11,810,162
- Richmond - $10,178,623
- Hawthorn - $46,532,382
- Essendon - $32,507,785
- Richmond - $27,154,369
- Melbourne - $6,202,696
- Brisbane - ($13,133,854)
telsor
Hall of Famer
Yes, to no avail.
In an ideal dream world, you're right, all clubs (and the AFL) would report fully, openly and in as close as practicable to the same manner.
But it's not a dream world, ideal or otherwise, and that just isn't going to happen.
Feel free to keep flogging this dead horse, but accept that me pointing out the futility of it doesn't make me the bad guy here.
telsor
Hall of Famer
Also mentions that they received $0.273M from the AFL for AFLW player payments.
Of course, the catch of revealing information is however much you reveal, it just means people, like me, want more.
Money from the AFL went up by $2,954,887
$1,913m was for the new CBA
$0.273m was for AFLW
So what was the rest for?
I imagine some of that was just the annual increase that I assume was always going to be there, but dammit...they told us part of what it came from, I want the rest!
edited to add...Yes I do recognise the irony of my post above regarding the futility of idealism against reality and flogging a dead horse. My only excuse/justification is that while I'll have a quick comment about such things, I'll also accept what is and move on...
Also mentions that they received $0.273M from the AFL for AFLW player payments.
Of course, the catch of revealing information is however much you reveal, it just means people, like me, want more.
Money from the AFL went up by $2,954,887
$1,913m was for the new CBA
$0.273m was for AFLW
So what was the rest for?
I imagine some of that was just the annual increase that I assume was always going to be there, but dammit...they told us part of what it came from, I want the rest!
edited to add...Yes I do recognise the irony of my post above regarding the futility of idealism against reality and flogging a dead horse. My only excuse/justification is that while I'll have a quick comment about such things, I'll also accept what is and move on...
They say that $0.78m was for "competitive balance". The AFL received a large increase in broadcasting income in 2017 and some of that has to go to the clubs for their operations and not just for higher player payments.
The AFL make an assessment of each club's needs and varies its distribution above the base accordingly. It hasn't published those figures though we can make some guesses from the annual reports.
Ned_Flanders
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Who other than willy?
The club has retained its $10 mil facility at Westpac courtesy the AFL guarantee. Nonetheless a good result.
telsor
Hall of Famer
Port & Coburg from memory.
telsor
Hall of Famer
Must have missed that bit. Thanks!
Ned_Flanders
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Port were rattling tins this year. Coburg are a year to year proposition they are that close to the edge
I wouldnt say either of these is prospering
telsor
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Fair call, but the fact they're still there is impressive.
Ned_Flanders
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If the benchmark for impressive is not completely rooted
We should be ashamed of this situation, not applauding it
