That is a horrible position.
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2020 Financials Thread
- Thread starter Pykie
- Start date
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Not half as bad as St Kilda's $20 million debt
telsor
Hall of Famer
$12M debt is more than half as bad as $20M debt....60% as bad in fact.
Loving the wow faces that the very sad Aussie in exile is doing on any any post that sounds bad
As it is, Stkilda has $21M in liabilities of which almost half are "non-current liabilities" and has net assets of $16M....according to the Wookies last spreadsheet post.
The AFL's / Clubs' financial circumstances are light years ahead of any other code in the country
- Moderator
- #130
- Moderator
- #131
The Burger King
Cancelled
- Jun 21, 2019
- 368
- 999
- AFL Club
- Port Adelaide
Does anyone have Port’s 2020 revenue? I think it was ~$40m based on what I can see.
I reckon the AFL will be happy with that result.It could have been a lot worse.
- Moderator
- #136
Apology REH for stealing this quote from the Port page. S0 succinct.
- Moderator
- #138
Line of credit was always a worst case scenario from when they were anticipating a full season shutdown.
The AFL had a future fund of about 110 million prior to this, so not only did they use about half of their savings - they still have some left. 33 million in jobkeeper went a long way.
RussellEbertHandball
Flick pass expert
They got rid of the official future fund in 2017. In 2020 they just used $60mil of cash holdings.
They transferred that future fund reserve to general retained earnings and are allocating $20m a year over 2017-22 years to a capital facilities reserve to build it up tp $120m.
All these funds / reserves just reflect how much cash the AFL has in the bank. The AFL doesn't do what the national Future Fund or some clubs and some sports future funds do and invest in shares, bonds, property etc.
In 2018 when the AFL showed AFL Ltd's + AFL group's financials they had $175mil in cash and the group had $209mil. In 2019 they only reported the consolidated group's position and it had cash holdings of $184mil.
In 2018 the AFL Ltd's 2 biggest assets of total assets of $476mil were cash holdings of $184m and Loans to controlled entities of $197mil of which 99% was for the purchase of Docklands Stadium. There is an outstanding bank debt against the Docklands Stadium which was over $200mil but was down to $176mil.
The 2018 AFL Financial Report shows clearly the movement in different reserves with the 2017 comparisons.
- Moderator
- #140
Chairman Jeff* put a different spin on where we are:
“There are 12 clubs currently receiving additional subsidies from the AFL out of 18 just to survive, (so) the one thing that is certain is that there won’t be a 19th team,” Kennett said.
“Since this issue arose again, the world has changed, and it has certainly changed for the code of Australian rules football.
“The AFL is not in the financial position it was 13 months ago. It could have drawn down a great deal on its line of credit of $600 million by the end of this year if things go belly ache, which it could easily.
Kennett says AFL can’t afford Tassie team (theaustralian.com.au)
* self interest undoubtedly motivate Jeffs comments.
“There are 12 clubs currently receiving additional subsidies from the AFL out of 18 just to survive, (so) the one thing that is certain is that there won’t be a 19th team,” Kennett said.
“Since this issue arose again, the world has changed, and it has certainly changed for the code of Australian rules football.
“The AFL is not in the financial position it was 13 months ago. It could have drawn down a great deal on its line of credit of $600 million by the end of this year if things go belly ache, which it could easily.
Kennett says AFL can’t afford Tassie team (theaustralian.com.au)
* self interest undoubtedly motivate Jeffs comments.
Giants lose $6.3m.
- Nov 21, 2013
- 5,801
- 4,266
- AFL Club
- Melbourne
Can the AFL afford the continuing financila black holes that are GWS and the Suns?
Colonial
Premium Gold
- Apr 12, 2012
- 48,072
- 45,280
- AFL Club
- GWS
Melbourne too
At the moment, Oct 31 2020 ... we haven't seen the detail such as it is ...
IF we believe the PR everyone is in good shape ....
IF we believe the PR everyone is in good shape ....
He's as much a Melbourne supporter as Pippen is a swans fan
Looking at the article, it seems much of the loss was due to losing ACT and Virgin money.
- Nov 21, 2013
- 5,801
- 4,266
- AFL Club
- Melbourne
Only a fool would think the game is in good shape and watch the fools ridicule me for speaking the truth.At the moment, Oct 31 2020 ... we haven't seen the detail such as it is ...
IF we believe the PR everyone is in good shape ....
No sport is in good shape in this country due to Covid-19
A bit like them fools who defended Eddie 5 chins for his racist comments and became the laughing stock on here for defending 5 chins.
- Moderator
- #148
At the moment, Oct 31 2020 ... we haven't seen the detail such as it is ...
IF we believe the PR everyone is in good shape ....
They may well be. Not all debt is bad, particularly if its serviceable debt or the income or goodwill derived from having those clubs outweighs the monetary value of distributions from HQ.
Goodwill?
- Moderator
- #150
ancillary benefits including participation increases, exposure, media coverage etc.
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