- Moderator
- #51
Bit later than normal, but ive been busy having a life - Ill fill in the rest a bit later.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
AFLW 2024 - Round 4 - Chat, game threads, injury lists, team lineups and more.
Has anyone got a handle on the Bentleigh Club /MFC transaction?
Bit later than normal, but ive been busy having a life - Ill fill in the rest a bit later.
The cost cutting the AFL enforced on clubs due to Covid, is having positive results with this years financials by the look of it.
& just been completed or so it appears.that was like 2 years ago
Yes it has been reported the $32 million from the sale of the Bentleigh Club will be put into a future fund by Melbourne.& just been completed or so it appears.
Two things that interested me.
1. The attention to detail in the financial report. To not notice typos.
View attachment 1570513
That is appalling by EY - for starters they will have been paid a truck load to prepare these results, they're not exactly the cheap option. And then to be caught out doing a copy-paste between club financials - can any of their work be trusted?Two things that interested me.
1. The attention to detail in the financial report. To not notice typos.
View attachment 1570513
2. To publish the financial results as they do annually. With the 1.639m profit you have listed above.
To then days later put an article on the website stating profit is 1.8m (a rounded up figure as well). Just include the 130k loss to the EBITDA profit and tell fans the real figure. Not hard.
Geelong 2022 Financial Result
The Cats have released their 2022 financial resultwww.geelongcats.com.au
That is appalling by EY - for starters they will have been paid a truck load to prepare these results, they're not exactly the cheap option. And then to be caught out doing a copy-paste between club financials - can any of their work be trusted?
Not if you put credence on the ‘double entry’ accounting systemWe'll have to see their actual financial statements but a consolidated profit of $7m and an increase in net assets of $2.2m does not compute.
We'll have to see their actual financial statements but a consolidated profit of $7m and an increase in net assets of $2.2m does not compute.
Not if you put credence on the ‘double entry’ accounting system
I'd say something about clubs with big building projects happening having concise reports that don't tell the full tale, but Tasmanian saint would get his nose out of joint again.
Is this a good or bad result? The suns are saying it's good, but it seems to just be some creative wording?
It goes without saying the Club isn’t in a strong financial position or underpinned yet by a strong operating position. Let’s hope the wins start coming so the club can start to build a sustainable and larger following to unearth much needed operating revenue to turn around its financial position.A little from column A, a little from column B.
The underlying stuff from last year is doing better.
But there was a significant change (club took over managing Metricon from the AFL) which meant a bunch of additional costs. Supposedly they're mostly one off things, so long term it'll be a positive, but for this year, not so much, and yes, the wording is a bit vague/creative.
I suppose we'll see just how that change really plays out over coming years.