Official Club Stuff 2021 Financial Results

[bomberclifford]

lol they've just put the construction grants/benefactors/COVID packages from the AFL and 'revalued' some assets - straight into the figure I reckon. It'll look completely different next year.

Nothing much really changed for 2021, certainly not $9mil worth. It has to include some extraordinary items.

 

[VineValerian]

Power bounces back from AFL pandemic slump with $4m profit

Port Adelaide Football Club has bounced back from a rocky 2020 impacted heavily by COVID-19 to report a record profit of more than $4 million last year.

indaily.com.au

So forget being debt free.
Forget being sustainable.
Just be financial.

WTF?
I'm clearly no accountant but didn't the club in it's Chasing Greatness palaver aspire to be the former?
Now it's a complete reversal?

Can someone please explain which is the better scenario.

I would have thought we should aim to be debt free, and hence free of all obligations to the AFL.

Or is our AFL sanctioned Board being told to avoid financial independence, and just stay tied to the yoke of Gil and Co forever??

 

[VineValerian]

The obvious course of action was to sack Hinkley.

No.
Sack Jordie.

 

[Ford Fairlane]

 

[RussellEbertHandball]

So forget being debt free.
Forget being sustainable.
Just be financial.

WTF?
I'm clearly no accountant but didn't the club in it's Chasing Greatness palaver aspire to be the former?
Now it's a complete reversal?

Can someone please explain which is the better scenario.

I would have thought we should aim to be debt free, and hence free of all obligations to the AFL.

Or is our AFL sanctioned Board being told to avoid financial independence, and just stay tied to the yoke of Gil and Co forever??

Its Koch spin. He said - “Rather than aspiring to be ‘debt free’ and ‘sustainable’, our goal is to build a financially powerful Port Adelaide,”

Its a bit of a dig at say North Melbourne who touted for days - we are debt free look at us, or other clubs who say we have built a sustainable model. Koch knows the bottom line will show $10-12mil profit for two consecutive years as we get grants and corporate donations to build things, or maybe 3 years of $8mil profits, and can push the we are a financially strong club as we have NET assets worth $50mil say by 2024.

The other clubs have also been spinning it as they get big government grants to build new facilities as the clash splash for women's facilities have been handed out. The strong clubs say we achieved $xmil operating profit + $ymil in grants, some just spin the big bottom line.

 

[Enviable Tradition]

Jesus Koch talks shit.

Covid was the biggest financial threat in our history? Really?

Bigger than 2011? Bigger than the great depression?

Bigger than all the other times we were close to going broke in our 150 year history?

Always wants to paint himself as the savior.

 

[Hardcore]

So forget being debt free.
Forget being sustainable.
Just be financial.

WTF?
I'm clearly no accountant but didn't the club in it's Chasing Greatness palaver aspire to be the former?
Now it's a complete reversal?

Can someone please explain which is the better scenario.

I would have thought we should aim to be debt free, and hence free of all obligations to the AFL.

Or is our AFL sanctioned Board being told to avoid financial independence, and just stay tied to the yoke of Gil and Co forever??

Really simple you spend money on assets that will provide future income, not dead expenses


Sent from my iPhone using Tapatalk

 

[Interstater]

Jesus Koch talks sh*t.

Covid was the biggest financial threat in our history? Really?

Bigger than 2011? Bigger than the great depression?

Bigger than all the other times we were close to going broke in our 150 year history?

Always wants to paint himself as the savior.

Depends who he means by "our".

Imagine if the networks couldn't afford to bid for the AFL TV rights.
The whole house of cards would collapse.

 

[Lockhart Road]

Its Koch spin. He said - “Rather than aspiring to be ‘debt free’ and ‘sustainable’, our goal is to build a financially powerful Port Adelaide,”

Its a bit of a dig at say North Melbourne who touted for days - we are debt free look at us, or other clubs who say we have built a sustainable model. Koch knows the bottom line will show $10-12mil profit for two consecutive years as we get grants and corporate donations to build things, or maybe 3 years of $8mil profits, and can push the we are a financially strong club as we have NET assets worth $50mil say by 2024.

The other clubs have also been spinning it as they get big government grants to build new facilities as the clash splash for women's facilities have been handed out. The strong clubs say we achieved $xmil operating profit + $ymil in grants, some just spin the big bottom line.

Having, after going on ten years, steered the Club nowhere near this place called Debt Free, Koch has now put it in his rear-view mirror as if it never, ever, was his destination in the first place. As if he has no idea where it is on the road map.

Time for this non-achiever to go.

Time for this gaseous, pusillanimous, nepotistical excuse for a chairman … to go.

 

[RussellEbertHandball]

Having, after going on ten years, steered the Club nowhere near this place called Debt Free, Koch has now put it in his rear-view mirror as if it never, ever, was his destination in the first place. As if he has no idea where it is on the road map.

Time for this non-achiever to go.

Time for this gaseous, pusillanimous, nepotistical excuse for a chairman … to go.

I had to look up pusillanimous. Can't say I have ever read that before, but it's a fine word for the chairman.

 

[PowerLil]

Jesus Koch talks sh*t.

Covid was the biggest financial threat in our history? Really?

Bigger than 2011? Bigger than the great depression?

Bigger than all the other times we were close to going broke in our 150 year history?

Always wants to paint himself as the savior.

Saviour Ken and Saviour Koch. Bigger resurrection than JC.

 

[Macca19]

Whilst being debt free is good on paper, i'd much rather us continue to invest in whatever we need to, to win a premiership. That usually means we should have debt.

Having said that, $3m reduction in debt is a good result.

 

[afl2004]

We would be debt free and still spending if we got rid of Ken 5 years ago , winning a premiership and playing in grand finals would of added lots of cash

 

[RussellEbertHandball]

Completely missed this in the club article. I read this as its a virtual AGM given the lack of info.


The Port Adelaide Football Club will hold its Annual General Meeting this Friday 18 February at 6.00pm.

The Annual General Meeting will be streamed live on the club’s website and will include presentations from Chairman David Koch and CEO Matthew Richardson

Matthew Richardson

Age

49

Ht

195cm

Wt

104kg

Pos.

M/F

Career

Season

Last 5

D

14.0

4star

K

10.9

4star

HB

3.1

3star

M

8.0

5star

T

0.5

3star

No current season stats available

D

15.0

4star

K

9.2

4star

HB

5.8

4star

M

7.8

5star

T

0.8

3star

and interviews with Senior Coach Ken Hinkley and Head of AFLW Juliet Haslam.

 

[RussellEbertHandball]

KFC upped their sponsorship level in this reporting period to become a third major so that probably accounts for at least half a million.

Actually listening to Koch on AA, it dawned on me 2021 was the first year KFC would have contributed to Port as a sponsor. They used to do the game day stuff but that was chicken feed. They came on board 13 December 2020.

So there is $1mil+ in 2021 that wasn't there in 2020. It was MG who upped their sponsorship value in 2021.

 

[dirty2]

Can we still sack Hinkley and only pay 6 months worth?

 

[RussellEbertHandball]

So in summary

2022
revenue: 738 million
expenses: 76/2 + 300 clubs+ 30 covid admin + 53 game development + 60 AFLPA + 10 Execs salary + 290 (??) = 781 million
operating loss: 43 million

The $290m is made up of running the actual AFL and AFLW comps, running Docklands and running all the state comps they have 100% ownership of ie everyone except SANFL and WAFC.

In 2019 Docklands contributed $80m of revenues and $83.6m of expenses to the AFL's consolidated financials.

The $30mil mentioned was extra covid costs not the costs of running the AFL. From the linked statement in the article you quoted it said;

• $29.5 million on the administration of the 2021 men’s and women’s season, including travel costs to relocate clubs impacted by state border restrictions and administer Covid-19 testing protocols;

plus these 2 matters that weren't in the article you quoted;

• $18.5 million in running the NAB AFL Women’s competition;
• $23.0 million to infrastructure comprising of elite and community facilities and contributions for stadia redevelopments; and

 

[Alberton Proud]

Jesus Koch talks sh*t.

Covid was the biggest financial threat in our history? Really?

Bigger than 2011? Bigger than the great depression?

Bigger than all the other times we were close to going broke in our 150 year history?

Always wants to paint himself as the savior.

Yep he does like the limelight but I thought the interview was good

 

[RussellEbertHandball]

AGM is virtual. You can submit your questions. Being read out and fully addressed is another thing

Email sent an hour ago.

The Port Adelaide Football Club wishes to advise that our Annual General Meeting will be held virtually via a live stream on Friday 18 February, starting at 6pm ACDT.

The Annual General Meeting will include presentations and a member Q&A session with Chairman David Koch, Chief Executive Matthew Richardson

Matthew Richardson

Age

49

Ht

195cm

Wt

104kg

Pos.

M/F

Career

Season

Last 5

D

14.0

4star

K

10.9

4star

HB

3.1

3star

M

8.0

5star

T

0.5

3star

No current season stats available

D

15.0

4star

K

9.2

4star

HB

5.8

4star

M

7.8

5star

T

0.8

3star

, AFL Senior Coach Ken Hinkley and Head of AFLW Juliet Haslam.

Members have the opportunity to submit a question about any area of the club ahead of the event, with the most common themes of questions to be addressed by the key speakers on the night. Click here to submit your question.

To attend the virtual Annual General Meeting on Friday, you will need to click on the button below.

For any enquiries or questions regarding the event, please email events@pafc.com.au.

We look forward to seeing you virtually on Friday night.

Click here to watch live from 6pm Friday

 

[Schulzenfest]

Mr Hinkley, your coaching career seems to have the momentum of a runaway freight train. Why are you so popular?

 

[Interstater]

And somehow Channel 7 news raised tarps twice.

You would think our president could influence the bias in their reporting, or perhaps not.

 

[Lockhart Road]

And somehow Channel 7 news raised tarps twice.

You would think our president could influence the bias in their reporting, or perhaps not.

Heavens to Betsy. You expect our president, appointed in 2012 to judiciously promote the Club as he sits before the Channel 7 camera every morning, to do what’s expected of him? That would be akin to expecting Cos Cardone, director of the Club since the same day in 2012, to represent the Club and pursue our interests with his employer, Eddie whatsisname?

It’s a TV sitcom gone wrong.

 

[ROBBBO]

And somehow Channel 7 news raised tarps twice.

You would think our president could influence the bias in their reporting, or perhaps not.

You watch Elspeth ?

 

[Gravel]

Our membership and marketing staff have clearly been been outstanding. Well done to them. I wonder how many Prison Bar gurnseys were sold given the number 1 seller in the AFL?

 

[Jakksynn]

And somehow Channel 7 news raised tarps twice.

You would think our president could influence the bias in their reporting, or perhaps not.

Mentioning tarps now just highlights how far we’ve come and sheds some light on just how well the business side of things is run now.