Opinion Commentary & Media IV

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B4Bear said:
www.news.com.au

AFL star facing monster $150k bill

Lachie Hunter is reportedly set to fight any charges from Victoria Police of him fleeing the scene following an alleged drink-driving incident last week that damaged four parked cars.
www.news.com.au www.news.com.au

Bit of bad luck that.
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Is it inappropriate to suggest that if he had taken the drive around his spiritual home of Footscray, it would have resulted in a far more modest damages bill?
 

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Probably not anymore. Three kms up the road in Braybrook tho...
 
Higgo’s on SEN after the 2pm news.
 
 
Caracas said:
Unfortunately, Hutchy has one thing in common with North... he’s a cockroach. He’ll outlast this comfortably.


On iPhone using BigFooty.com mobile app
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Sadly, I think you're right on the money. He'd know where more than a few of the bodies are buried.
 
Val Keating said:
Can someone please help me out with getting past paywall?
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A $20m sponsorship hit to AFL

GWS Giants would be one of the AFL clubs hit if the code loses sponsorship from Virgin Australia.
GWS Giants would be one of the AFL clubs hit if the code loses sponsorship from Virgin Australia.
The ongoing financial uncertainty caused by the coronavirus on Tuesday cast into doubt up to $20m in annual sponsorship for the AFL.

Virgin Australia, which contributed up to $10m per year as the AFL’s airline partner, has entered voluntary administration.

A further financial hurdle was created when The Australian revealed BetEasy, which extended its official wagering partnership with the AFL in December for an estimated $8m a year, will close.

A global merger between parent companies Flutter Entertainment and The Stars Group will see rival Australian brand Sportsbet replace the BetEasy business, with the prospect of becoming the league’s new partner.

The companies had been competitors to be the AFL’s wagering partner before a lucrative deal — now in question — was finalised in December. At a time when financial models in sport are teetering, the closure of BetEasy removes competition and is certain to have an impact on the value of future sponsorship negotiations with sporting bodies.

The AFL is also concerned with the Virgin Australia situation as up to 10 parties consider whether to salvage the airline from financial ruin. The partnership with Virgin was set to run through to 2023, which puts up to $30m in sponsorship in jeopardy.

The airline is also a key sponsor of the Carlton, Gold Coast and GWS Giants football clubs.

Carlton’s sponsorship deal with Virgin is estimated at between $1m and $2m annually. The Giants are believed to receive about $1.1m in cash and contra.
It is the second major sponsorship blow to the Blues in recent years after the collapse of Acquire Learning in 2017 cost them $1.9m. The club had managed to halve a debt of $6m before COVID-19.

Virgin Australia chief executive Paul Scurrah said the company “will work through every one of those contracts as part of administration,”.

Meanwhile, several AFL clubs say they have not suffered the fate of sports such as cricket by losing millions of dollars from the value of shares and other financial investments, as markets tanked during the pandemic.

West Coast Eagles, considered the richest and most financially successful AFL club in normal trading conditions, have $35m in financial assets on its balance sheet. But chief executive Trevor Nisbett told The Australian the Eagles’ money was in a relatively safe position.

“The vast majority of that is in cash so we’re relatively OK. We have been very careful with it and therefore haven’t been subject to too much of what is going on in the market,” he said. “With low interest rates it means we aren’t necessarily making much of a return … but at least we are not losing it.”

West Coast will still need to make at least a minimum $1.1m payment to the Western Australian Football Commission this year, an amount that often tops the $4m mark depending on the profit the Eagles record.

Many clubs have been prudent in their investments, with some executives mindful of the fate of Brisbane during the global financial crisis. The Lions had millions of dollars held in shares before the GFC hit in 2008, the value of which was subsequently lost.

It took the club 12 years to swing back to profit, achieved only last year. Richmond had $24m on its balance sheet and Essendon $6.4m, though they are likely to have to tap into those funds to make it through a season with no spectators in the stands or corporate hospitality.

Collingwood, which has billionaire investor Alex Waislitz on its board, has $7m in the bank and approximately $16m in a diverse future fund.

Potentially at more risk is $1.06m in global equities, hybrid investments worth $4m and property and alternative fund investments worth $3.24m.
 

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LB2Snake said:
Looks like Ralphy might have the standard/brainless/useless, "North are in trouble, cause they are North" rubbish article ready to roll.
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Who the **** is "Ralph Horowitz" anyway?

He must be struggling for attention.
 
Val Keating said:
I think he’s having a go at media agendas
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Yep. Reads like he's pointing out certain outlets propensity to link any random AFL related struggle to North's demise.
 
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