3 mill profit for 2003

[Au_Blue#24]

thats right folks 3 mill profit for 2003. Heres the link

http://foxsports.news.com.au/story/0,8659,7843957-23211,00.html

"Only West Coast, which is expecting a $3m windfall in 2003, will have a better result this year than Collingwood, who had a turnover of more than $25m for the first time."

 

[noodle]

it ****es me off to no end that collingwood will keep their $2mil while we'll only keep $600,000 of our 3 mil.

dems the breaks though.

i'm still proud to be a member of a club that has success on and off the field.

 

[Sera]

With the Dockers finally pulling their financial weight (we hope), we should push for a better deal with the WAFC. Adeliade and Port only pay 1 million each (I think). We should be the same.

 

[Frodo]

But what do we do with the profit? Clearly we spend as much as we can being as we only keep 20%.
Maybe membership costs could be reduced, but I doubt that would happen.

 

[Streaker]

The majority of our profit goes to paying off the WAFC debt for the upgrading of Subi Oval.

If we keep going at this rate we should be calling for reclining lounges with built in can fridges.

 

[ozzult]

West Coast's shout at the next home game.

 

[The Goods]

I think 50/50 would be a fairer result.

But the debt on Subi has to be serviced, so I think the WAFC has no opitions at this stage. If the Dockers can start making 1 million a year that will stengthen our case.

Of course the club was saved by the WAFC after Indian Pacific's, (who was the private entity that owned the club), shares weren't worth the paper the were written on in the early ninities.

Maybe a happy hour after every win would be a good way to "repay" us loyal members! Though a premiership would be nice as well.

 

[noodle]

Originally posted by ozzult
West Coast's shout at the next home game.

BBQ at trevs place with all the grog you can drink.

 

[Mr Eagle]

How much debt remains on Subi, exactly?

 

[Sera]

Originally posted by Mr Eagle
How much debt remains on Subi, exactly?

Lots and lots and lots. Still about 30 million I think. Thats why the WAFC were really disappointed about the 5 million Crazy Johns deal.

 

[Monocle]

Would be nice if the kids down the road could start contributing to the WAFC debt on Subiaco Oval.

If things keep going as they have been we should be able to name it Eagle Park in ten years time.

Lets hope the dorkers get their off field act together, as well as they have addressed their on field performance , because their support is critical to the on going development of WA football .

 

[Altum Volantes]

Good on the club for managing themselves well and turning a healthy profit. I'm sure the club and the WAFC work together on many things, and I would strongly doubt the Eagles are left scraping together the shrapers at any point when it comes to running the club.

The Dockers are getting on track, good on them, its never easy establishing a new club in a town with an already dominant team. It's only going to be good for WA footy if both clubs are financially sound.

 

[Monocle]

Originally posted by Black JuJu
Good on the club for managing themselves well and turning a healthy profit. I'm sure the club and the WAFC work together on many things, and I would strongly doubt the Eagles are left scraping together the shrapers at any point when it comes to running the club.

The Dockers are getting on track, good on them, its never easy establishing a new club in a town with an already dominant team. It's only going to be good for WA footy if both clubs are financially sound.

Agree my point indeed. WA footy will be we placed if this happens.

 

[Rob]

Originally posted by Sera
With the Dockers finally pulling their financial weight (we hope), we should push for a better deal with the WAFC. Adeliade and Port only pay 1 million each (I think). We should be the same.

I think Adelaide and Port pay 75-80% as well.

In the end it comes down to who funds WA (and SA) football. The AFL funds Victorian football, if they did the same with WA and SA there would be no need for the local AFL clubs to put so much back into the WAFC and SANFL.

Of course, this is yet another part of the uneven playing field across the AFL, but this benefits Collingwood so I wouldn't expect too many changes here. Imagine if Collingwood had to pay 80% of their profit towards Football Victoria....McConflict would spend 3/4 of the footy show bitching about it.

 

[jod23]

Pfft....we killed Colingwood by over a Mil!

It's great for the club though and WA Footy.

 

[back pocket]

Originally posted by Monocle
Would be nice if the kids down the road could start contributing to the WAFC debt on Subiaco Oval.

Yeah, well said, Monochrome.

It would also be nice if the WAFC could start contributing to my debt which started when they used my money (and all other West Australian taxpayers money) to save the west coast eagles when Western Pacific (or whatever your company was called) went under. Did I have a say in whether or not I wanted to contribute to your.......um..... "club"?.... "Company?".... "Government body?" ...."Corporate Entity?"

The eagles have not exactly paid their own way along their journey, have they?

If it wasn't for me, you would have no club to support. And that is a fact, buddy.

That aside, I'm happy to see both local teams making money for a change, not that I would be upset if the eagles fell over, unless I was forced to contribute to their survival ....again.

 

[Au_Blue#24]

Originally posted by back pocket
Yeah, well said, Monochrome.

It would also be nice if the WAFC could start contributing to my debt which started when they used my money (and all other West Australian taxpayers money) to save the west coast eagles when Western Pacific (or whatever your company was called) went under. Did I have a say in whether or not I wanted to contribute to your.......um..... "club"?.... "Company?".... "Government body?" ...."Corporate Entity?"

The eagles have not exactly paid their own way along their journey, have they?

If it wasn't for me, you would have no club to support. And that is a fact, buddy.

That aside, I'm happy to see both local teams making money for a change, not that I would be upset if the eagles fell over, unless I was forced to contribute to their survival ....again.

this old chestnut ! btw welcome back bp ! now to the truth

like alot of your freo compardres, your very quick to point the wayward finger in regards to the Indian Pacific fiasco, and not consider the bigger picture.

It was a company that floated in order to finance the birth of the wce. Investors put money into it and it failed to the point where shares were worth 12 cents ( initally ~ $1.00 ). This happens in business all the time. WAFC came in and took liabiltiy of the debt and wce. Since then, wc has paid more than 50 mill into wafc through correct managment and success. If that 50 mill had not been generated - no way in hell the FFC would have got off the ground. Huge amounts went into the wafl as well.

what ever loss incurred by IP back in late 80's - has been regenerated many times over by wc

 

[The Mission Man]

Ease up on Mononucleosis, Back Pocket. He or she is just trying to live up to a cliche someone foisted upon him or her.

"It'd be nice to see the kids down the road" - who are you? Grandpa Walton?

 

[Captain Random]

Something that always gets lost when Eagles supporters get bagged about Indian Pacific is, the IP share issue managed to raise a fairly hefty amount, even though it was undersubscribed. Precisely where did that money go?

A fair whack went to the VFL to pay our up-front licence fee. A lot went for sundry expenses that get paid for by the AFL these days, such as airfares. And a lot - millions, in fact - went in royalties to the WAFL. As an Eagles member at the time, I don't recall anyone asking me whether I wanted our money to prop up the Fremantle WAFL sides.

I guess everything's circular if you look at it hard enough.

 

[back pocket]

I don't like looking at circles, carnie, they always finish where they start.
And I always thought Indian Pacific was a train that also finished where it started.
Actually, you're right, EVERYTHING finishes where it starts.

 

[Au_Blue#24]

I know its a biased opinion - but the book "10 years" has a fairly good description of what happened re the IP cok-up.

Im no business genius - but the gist I get is that due to wc/wafn not pulling the pin when IP went arse-up, wa footy has been better off "financially" thru the large coin wc has generated.

Due to this, we are deemed a financial corporation rather than a you-beaut bonza footy club for the people.

 

[The Mission Man]

I don't think SAIL Inc is gonna help that perception, Au.

 

[Au_Blue#24]

Originally posted by The Mission Man
I don't think SAIL Inc is gonna help that perception, Au.

Yeh I read something about what your alluding to. Personally I dont give a rats about stuff like that or how we are percieved. If you have a look on the main board under a topic which reads "respected teams" wc pops up a few times.

You can take pot shots at wc for having a corporate slant to it - but luckilly for wa footy ( and that includes freo who indirectly benifit from wc profits ) one of the two WA teams are financial.

enjoy that cake MM

 

[The Mission Man]

I can't. I'm trying to eat it.

(Babies can do this. Babies can have cake and eat it too.)

I don't mind how you are perceived - curiously enough - I just get a tad miffed when people speak as if they themselves are directly responsible for stuff they really don't know very much about.

"kids down the road" etc etc

Do these people really care how Fremantle are going financially? Do they know how Fremantle are going financially? Are they all that sure they know how WCE are operating financially?

It's an annoying adoption of a superior attitude that isn't really yours to have.

 

[Sera]

Originally posted by The Mission Man
I can't. I'm trying to eat it.

(Babies can do this. Babies can have cake and eat it too.)

I don't mind how you are perceived - curiously enough - I just get a tad miffed when people speak as if they themselves are directly responsible for stuff they really don't know very much about.

"kids down the road" etc etc

Do these people really care how Fremantle are going financially? Do they know how Fremantle are going financially? Are they all that sure they know how WCE are operating financially?

It's an annoying adoption of a superior attitude that isn't really yours to have.

I can see where you are coming from but I wouldnt call it a superior attitude. I think you will find the vast majority of Eagles supporters want Freo to succeed financially, for the sake of WA footy more than anything. Its more a case of Eagle fans feeling cheated when their club makes 3 million dolars but only keeps 600k.