Discussion 2024 General AFL Discussion

[Silkie]

Went to the game, my first GF live. A bunch of Lions supporting mates had a spare membership and offered it to me on the condition that I barrack for them. They gave me a scarf and hat for the day and I played the part well. Watching their reactions and the other fans around us throughout the game was pretty magical. A few goosebumps inducing moments for sure. Had to keep my mouth shut and remind myself it's not about me when they started going on about '20 long years!' lol. Had a great night on the town, obviously pretty hollow for me but the energy and joy of my mates was contagious. Couldn't stop thinking about how great it's going to be when our time comes.

 

[Banger9798]

Went to the game, my first GF live. A bunch of Lions supporting mates had a spare membership and offered it to me on the condition that I barrack for them. They gave me a scarf and hat for the day and I played the part well. Watching their reactions and the other fans around us throughout the game was pretty magical. A few goosebumps inducing moments for sure. Had to keep my mouth shut and remind myself it's not about me when they started going on about '20 long years!' lol. Had a great night on the town, obviously pretty hollow for me but the energy and joy of my mates was contagious. Couldn't stop thinking about how great it's going to be when our time comes.

Had a very similar day yesterday watching at the Royal Derby with some Lions supporters.
It will be momentous when it happens.

 

[StCicatriz]

Got nothing to do with your opinion, it has to do with the facts of the redevelopment, the machinations of redevelopment both through tiers of govt, local and state, and the satisfaction of the AFL.
If you know anything about published financial year end papers do comparison of before and after financial positions concentrating on cash flow, and non current debt and assets.
Finnis was no messiah, that is a reach when someone has no argument. He did a very good job financially, a position caused by the footy first travesty who ousted Butters who had the finances stable.
They blew out the debt, then moved us to Seaford and consigned us to a period of financial bear insolvency. To be where we are now is actually very impressive.
As far as football goes, Finnis was ordinary, not helped by decisions like Billings, McCartin, Goddard, Dunstan, selecting Richardson as coach etc. Very ordinary.
However the financial and football needs to be separated. He stabilised the finances and the current regime is benefiting both that stability and now a decent football department, capable of long term success.

So there is no 'Come on man' about it. The financials stack up, they are in much better shape, the asset to debt ratio's would be infinitely better, and the cash flows are now manageable.
When it comes to finance, the books don't care about your feelings.

Edit: a construction company is vastly different to a membership organisation, both in operation and tax obligations. Furthermore a membership organisation that is beholden to a governing body. As someone who worked for a membership organisation for over 20 years as an accountant and being in the project team for numerous office developments in all Australian states and throughout Asia ( including communist regimes, talk about suffocating red tape), I can tell you, it is a lot of organisation, consultation, negotiation, and setback. Our CEO would not have had a clue what we did, he wanted results within budget. The President of the football club would have been the same, especially considering it was voluntary.
Finnis was put there by the AFL to do a job. He did that and supposition and opinion doesn't change the truth of the matter.

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I think someone running a construction company has more in common with leveraging stakeholders to complete a 100m rebuild and development than someone running a "membership organisation". As you put it they are vastly different. Hence why I think summers made finding a new home part of the strategy as it was something within reach.

Out of interest how much debt was paid down during finnis time. As I recall alot of the balance sheet was made up from holding the funds allocated for moorabbin. It'd be very interesting to see now that moorabbin has been completed how much debt actually was paid down. I'm guessing it's not earth shattering and majority of the debt is still there.

The revolving door of footy gms and list bosses didn't help. Over extending coaches contracts didn't help either. People on here seem to think he was responsible for the ratten fiasco which cost us $$$ and reputational value.

I don't disagree he stabilised the finances but it also came at a time when:
1) the afl rewrote the etihad deal
2) further equalisation measures were brought in delivering more $$$ to clubs
3) we came from such a low base
4) the Kim Duthie saga that brought sponsorship to a halt had ended.

It's pretty low hanging fruit. Like coming into North melbourne right now and getting on field improvement. Can't get much worse.

 

[Saints43]

Incorrect. The football dept happens because the AFL funds it.

The people we've employed don't join if the weights room is a converted condemned disco.

 

[Joffaboy]

I think someone running a construction company has more in common with leveraging stakeholders to complete a 100m rebuild and development than someone running a "membership organisation". As you put it they are vastly different. Hence why I think summers made finding a new home part of the strategy as it was something within reach.

Out of interest how much debt was paid down during finnis time. As I recall alot of the balance sheet was made up from holding the funds allocated for moorabbin. It'd be very interesting to see now that moorabbin has been completed how much debt actually was paid down. I'm guessing it's not earth shattering and majority of the debt is still there.

The revolving door of footy gms and list bosses didn't help. Over extending coaches contracts didn't help either. People on here seem to think he was responsible for the ratten fiasco which cost us $$$ and reputational value.

I don't disagree he stabilised the finances but it also came at a time when:
1) the afl rewrote the etihad deal
2) further equalisation measures were brought in delivering more $$$ to clubs
3) we came from such a low base
4) the Kim Duthie saga that brought sponsorship to a halt had ended.

It's pretty low hanging fruit. Like coming into North melbourne right now and getting on field improvement. Can't get much worse.

I won't bore you with accounting theory but a couple of relevant points.
The revamped Docklands deal is still terrible. All it has done had stopped the absolute hemorrhaging of money for home games resulting in nothing more than stabilisation. We made more money from Spuds match at the G than the whole of the rest of our home games. Let that sink in. The AFL owe us about 30 million for decades of gate receipts we lost which they MADE us take.
Your ignorance between a commercial organisation and a non profit is understandable but don't think Sommers had any dealings in the redevelopment except for getting his toe in the water for any construction deals, however due to conflict of interest he would have to recuse himself.
As for debt. You need to understand the difference between non current and operating debt. That's why I said look at the cash flow differences probably using old school ratio's to understand the position.
Debt is lower from memory but it is moot. It is the ability to service debt ( hence cash flow considerations) that is important. Balance sheet debt can be important for post EBITDAR ( even though tax again is fraught in membership orgs with special rules) as depreciation lowers taxable earnings.
Anyway the AFL is a special category of corrupt as it could pay off all our debt ( and probably all AFL clubs debts with a stroke of a pen) however they want to keep us as the Washington Generals and pump money into 'growth' areas like the GCS and GWS money pits. This is for broadcast rights.

Bottom line. Finnis was the AFL's man brought in to fix the finances under the AFL 's faux guidelines so they would look good on the books and not have to spend too much money on that. He did that and got rewarded for his efforts.
As I said was he good for football? No ordinary. Was he good for the finances, absolutely yes AND got us out of Seaford with a wonderful redevelopment of Linton St.

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