RussellEbertHandball
Flick pass expert
- Thread starter
- #576
Some notes I took from the AGM on the shitty 3 pages of financials they hand out. A star means from what I wrote down, a non star line is either from a bit of digging around or just my comment.
* Warren has already been appointed to Football Strategic Committee and Aber to the Facilities Development Committee
* Profit was achieved with staff levels greater than before Covid. The club now employs 300 people, which includes the 75 or so footballers.
* Debt down to $3.8mil from a Covid peak of $12.3mil and expect to clear it by end of 2025, whilst still investing in stage 4 development and other investments. No debt to SANFL or AFL.
* Club is looking at developing future revenue streams that are totally independent of football.
* MG Centre northern end they are looking at building a medical facility to rent out to medical practitioners, down the track.
It is where the new players and staff car park is.
* Net Assets in 2023 are $32.7m and are expect that to grow to $80m by 2026.
Looking at the Wookies tables on the footy industry board the clubs who have an $80+m net asset position at the end of 2023, in order, are WCE, Hawthorn, and Western Bulldogs. There are 3 around the $60m mark and I reckon Sydney will be about $65-$70m when their 2023 accounts are available, as they got a big grant in 2023 to go with a huge grant they also got in 2022.
*Core football business revenue income was $35.5m and total revenue was $64.63m.
I looked up the 2019 financials and total revenue was $58.3m and 2018 it was $59.0m
* Core business revenue was up $2.8m on 2022 and $7.2m on 2021.
*Membership and ticketing up $1.3m to $16.5m
*Commercial partnerships.. up $1.7m to $15.7m
*Retail Merchandise .......... up $0.6m to $2.65m Koch said this is top 4, but I reckon its top 4 when you take out the premiership side.
There is another $700k that meets the definition of core business revenue that Koch did put up on his slide.
*AFL Revenue ................. up $3.0m to $19.25m
That means all other revenues ie The Precinct and POW, grants to run the community programs, donations, sale of any assets is;
$64.63m - $35.5m - $19.25m = $9.88m . Most of that would be The Precinct and POW as in 2022 Venues revenue was $5.9m.
* 64,091 members up 9.2% in 2023. So far 50,400 members which is up 3.4% year to date on last year.
* Membership revenue already $100,000 up on 2022 total membership revenue.
* Membership revenue of $11.75mil as of 9th February up by $1mil on same time for 2023 membership.
* First time Port has sold over 100,000 daily tickets ie on internet and at gate.
Looked up our total home attendance, it was from 455,807 from 12 games for an average of 37,984. For comparison, 2022 average was 29.7k, pre covid, 2019 was 33.9k, 2018 average was 38.2k, 2017 was 38.1k and 2016 was 39.3k.
The 100,000+ would have included some double counting of tickets purchased for the double header in Gather Round of Ess v Melb 33.8k and and Port v WB 45.1k. I went to both games and neither of these size crowds truly reflected the number of people watching both games.
Even if the 100,000+ was really 90,000 that's great for the club as the average daily ticket when you add in the more expensive seats over a general admin priced ticket, but account for kids, would be about $40, take off about $5 for ticketing fees and that means that revenue stream easily covers the approx $100,000 game day costs the SMA charge us. Might be a bit more these days as electricity prices and wages have gone up a decent amount over the last few years.
* More big announcement of major partners soon. Not sure if i wrote that down right. It might have been more big announcements from our major partners.
* AFL Reserves we will wear the PB guernsey at home.
* Move to AFL Reserves comp is seen as an important equalisation step by Port, the crows and the 2 WA clubs and also for when Tassie team comes in.
* Koch talked about the AFL endorsing Alberton oval to be a boutique stadium for AFLW and AFL reserves with broadcast quality lights.
I guess that's what happens when the AFL chip in $5mil, like they have at Princess Park and other venues.
* Stage 4 development of the Port Adelaide Bowling Club, who are lock step in agreement with the club, sees them get a new bowling club, indoor greens, new club rooms for their use and new social facilities.
* Koch said the club hopes to start stage 4 in 18 months time.
As I wrote elsewhere I reckon Port will get access to their facilities when needed, and have control of areas in the new building.
So how are we going to increase Net Assets by about $47m in 3 years?? That suggests stage 4 will be a $35m to $40m project.
From a cut and paste of my post in the Alberton Oval Redevelopment thread. So where is the money coming from?
I asked Kevin Osborn about the financing for it after the AGM ended, and said is that Bequest program the club has set up over 20 years ago starting to provide the funding for it, as people are dying and leaving assets and $$$ to the club?? He said that is part of it, but some of the expected profits we generate over next 3 years as well as government funding, maybe a bit of debt, will fund that.
I was surprised by the government funding call and asked if they are confident that the feds will still give handouts to sporting clubs after the Morrison government's dodgy community grants program and he said yes and he said he expected state and local government funding as well.
Basically AFLW -------> lever to government community grants,
Bowling Club ----------> lever to different government community grants
Rather than retype it in here Port2Power and I had a discussion about the land next to the bowling club the club has purchased, he said Koch said it sits in a trust, I made some comments that the trust probably holds the assets and cash donated via the Bequest program the club has been running for around 20 years. See page 59 of the Alberton Oval Redevelopment thread.
* Warren has already been appointed to Football Strategic Committee and Aber to the Facilities Development Committee
* Profit was achieved with staff levels greater than before Covid. The club now employs 300 people, which includes the 75 or so footballers.
* Debt down to $3.8mil from a Covid peak of $12.3mil and expect to clear it by end of 2025, whilst still investing in stage 4 development and other investments. No debt to SANFL or AFL.
* Club is looking at developing future revenue streams that are totally independent of football.
* MG Centre northern end they are looking at building a medical facility to rent out to medical practitioners, down the track.
It is where the new players and staff car park is.
* Net Assets in 2023 are $32.7m and are expect that to grow to $80m by 2026.
Looking at the Wookies tables on the footy industry board the clubs who have an $80+m net asset position at the end of 2023, in order, are WCE, Hawthorn, and Western Bulldogs. There are 3 around the $60m mark and I reckon Sydney will be about $65-$70m when their 2023 accounts are available, as they got a big grant in 2023 to go with a huge grant they also got in 2022.
*Core football business revenue income was $35.5m and total revenue was $64.63m.
I looked up the 2019 financials and total revenue was $58.3m and 2018 it was $59.0m
* Core business revenue was up $2.8m on 2022 and $7.2m on 2021.
*Membership and ticketing up $1.3m to $16.5m
*Commercial partnerships.. up $1.7m to $15.7m
*Retail Merchandise .......... up $0.6m to $2.65m Koch said this is top 4, but I reckon its top 4 when you take out the premiership side.
There is another $700k that meets the definition of core business revenue that Koch did put up on his slide.
*AFL Revenue ................. up $3.0m to $19.25m
That means all other revenues ie The Precinct and POW, grants to run the community programs, donations, sale of any assets is;
$64.63m - $35.5m - $19.25m = $9.88m . Most of that would be The Precinct and POW as in 2022 Venues revenue was $5.9m.
* 64,091 members up 9.2% in 2023. So far 50,400 members which is up 3.4% year to date on last year.
* Membership revenue already $100,000 up on 2022 total membership revenue.
* Membership revenue of $11.75mil as of 9th February up by $1mil on same time for 2023 membership.
* First time Port has sold over 100,000 daily tickets ie on internet and at gate.
Looked up our total home attendance, it was from 455,807 from 12 games for an average of 37,984. For comparison, 2022 average was 29.7k, pre covid, 2019 was 33.9k, 2018 average was 38.2k, 2017 was 38.1k and 2016 was 39.3k.
The 100,000+ would have included some double counting of tickets purchased for the double header in Gather Round of Ess v Melb 33.8k and and Port v WB 45.1k. I went to both games and neither of these size crowds truly reflected the number of people watching both games.
Even if the 100,000+ was really 90,000 that's great for the club as the average daily ticket when you add in the more expensive seats over a general admin priced ticket, but account for kids, would be about $40, take off about $5 for ticketing fees and that means that revenue stream easily covers the approx $100,000 game day costs the SMA charge us. Might be a bit more these days as electricity prices and wages have gone up a decent amount over the last few years.
* More big announcement of major partners soon. Not sure if i wrote that down right. It might have been more big announcements from our major partners.
* AFL Reserves we will wear the PB guernsey at home.
* Move to AFL Reserves comp is seen as an important equalisation step by Port, the crows and the 2 WA clubs and also for when Tassie team comes in.
* Koch talked about the AFL endorsing Alberton oval to be a boutique stadium for AFLW and AFL reserves with broadcast quality lights.
I guess that's what happens when the AFL chip in $5mil, like they have at Princess Park and other venues.
* Stage 4 development of the Port Adelaide Bowling Club, who are lock step in agreement with the club, sees them get a new bowling club, indoor greens, new club rooms for their use and new social facilities.
* Koch said the club hopes to start stage 4 in 18 months time.
As I wrote elsewhere I reckon Port will get access to their facilities when needed, and have control of areas in the new building.
So how are we going to increase Net Assets by about $47m in 3 years?? That suggests stage 4 will be a $35m to $40m project.
From a cut and paste of my post in the Alberton Oval Redevelopment thread. So where is the money coming from?
I asked Kevin Osborn about the financing for it after the AGM ended, and said is that Bequest program the club has set up over 20 years ago starting to provide the funding for it, as people are dying and leaving assets and $$$ to the club?? He said that is part of it, but some of the expected profits we generate over next 3 years as well as government funding, maybe a bit of debt, will fund that.
I was surprised by the government funding call and asked if they are confident that the feds will still give handouts to sporting clubs after the Morrison government's dodgy community grants program and he said yes and he said he expected state and local government funding as well.
Basically AFLW -------> lever to government community grants,
Bowling Club ----------> lever to different government community grants
Rather than retype it in here Port2Power and I had a discussion about the land next to the bowling club the club has purchased, he said Koch said it sits in a trust, I made some comments that the trust probably holds the assets and cash donated via the Bequest program the club has been running for around 20 years. See page 59 of the Alberton Oval Redevelopment thread.
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