Debt Demolition

[Demonheart]

Wow..that is the most unfortunate timing for an article. Well.. when you get pie on your face theres only one thing to do.. My bad Melbourne fans, congratulations

On a note tho, the first paragraph of the article is the same thing as what I was talking about. You would rather not post a huge profit, but post a smaller profit/balanced books knowing it was not because of a radical outliar or a one off.

Well done for this post.

I'm pretty sure that everyone at Melbourne realises that this is just one small step that we've had to take and it's not going to get any easier going forward, basically the hard work has only just begun.
Still, it's an amazing effort considering what position we were in three years ago, it's nice to stick it to everyone who wanted us to die.

 

[muesli]

$2m profit

$2m in AFL handouts
$1m in creative accounting from a relocation grant not fully utilized

Isn't that (roughly) a $1m trading deficit?

Yep, well done Dees!

Melbourne FC itself says in the article that there were anomilies this year. It's the journos talking it up. Great credit should be given though to the Dees, they are defiently on the right track. Hopefully they remain debt free and success follows.

 

[Hannabal]

sorry.. this is all in day2day life at bomberland

Relevance ?

 

[Rojik of the Arctic]

$2m profit

$2m in AFL handouts
$1m in creative accounting from a relocation grant not fully utilized

Isn't that (roughly) a $1m trading deficit?

Yep, well done Dees!

Jeez. What a fool I was. There I was thinking getting rid of the debt and putting money in the bank was a good thing. I'd better contact the club and tell them not to do it again.

 

[SweetLeftFoot]

Good on the Dees for effectively wiping their debt. Wish North would do the same.

As for Collingwood and Essendon stypes who come on here all smug - well aren't you so smart for being born Collingwood/Essendon types.

And if you chose them - even worse.

 

[melbournemartin]

Good on the Dees for effectively wiping their debt. Wish North would do the same.

As for Collingwood and Essendon stypes who come on here all smug - well aren't you so smart for being born Collingwood/Essendon types.

And if you chose them - even worse.

They're a better class of person obviously