RussellEbertHandball
Flick pass expert
.....
Keep in mind That when Freo started to make Profits in 2003 when we made the finals, Half of our profits went into Paying our 8.1 million dollar debt and the other Half to the WAFC while at the samtime freo were paying 3.1 million a year to the WAFL to rent out Subi. Subi is more primitive than AAMI Stadium and that say a lot.
Leadership starts at the top and stops at the top.
Not 100% right. The AFL and WAFC negotiated a transitional period where Freo didn't have to pay the 70%/60%/50% sliding sub licence fee so that it could pay off its debt and that there was a difference between rent paid by Freo and West Coast until Freo got into a more stable and equal position.
The rent was a trade off for being able to have access to almost 100% of the revenue generated from Subi on Freo's home match day.
From the stadium thread I started 3 years ago and linked in my previous post.
http://www.bigfooty.com/forum/threa...the-sa-footy-paradigm-shift-happening.554729/
Eagles supporters will reap dividend rewards
MARK DUFFIELD……….The West Australian understands the new scheme will aim to have both West Coast and Fremantle paying equal rent on Subiaco Oval after two years. The rent figure per club is likely to be about $2.9 million, the figure paid by West Coast last year.…………The WAFC will then collect dividends from the clubs on a sliding scale which decreases as profits increase.The WAFC will take 70 per cent of a club's first million dollars of profit, 60 per cent of its next million and 50 per cent of the third million.Under old arrangements, the Eagles paid the WAFC 80 per cent......Fremantle's rent ($1.9 million in 2003) would increase substantially next year to around $2.5 million.Fremantle supports the principle of the new agreement but may ask the WAFC for more time before paying the same rent as the Eagles."We are asking to be equal when we are equal," chairman Rick Hart said. "We see that happening in the not too distant future."…………July 28, 2004 The West Australian
The WAFC helped out Freo by also suspending their licence royalty fee. They let Freo retain 100% of their profits in the following years
Code:2003 $711,000
2004 $1,254,000
2005 $1,015,000
2006 $1,261,000
Total $4,241,000
That's a suspension of $2,800,000+ in licence fees over these 4 years. And between 1999 and 2002 they made 4 losses totalling $5mil and didn't pay $1 in licence fee in that 4 years so for 8 years Freo paid no licence fee between 1999-2006.
The difference in rent and licence fee according to the WAFC 2007 and 2006 annual report was;
Rent ---2008-----2007-- ---2006-- --2005--
WCE 3,122,983 3,051,000 2,972,500 2,900,000
FFC- 3,148,901 3,051,000 2,500,000 2,250,000
Licence fee –2008----2007 ----2006-- --2005
WCE--- 1,701,472 2,766,450 2,516,578 2,297,764
FFC------ 799,906 --519,454 --------0 --------0