Sttew
Brownlow Medallist
No, the AFL just printed more AFL dollarsDidnt it borrow $180 mil at that time?
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
AFLW 2024 - Round 8 - Chat, game threads, injury lists, team lineups and more.
No, the AFL just printed more AFL dollarsDidnt it borrow $180 mil at that time?
If worst comes to worst then cut the fat (which there is plenty of) borrow half a billion dollars that will probably come with 2-3% interest ($15mil PA) and accept that people employed in in the game will have to take less $ in the future.
Marvel is apparently worth close to a billion so that’s fair collateral and if they show they are going to make cost cuts I think they could probably find it easily enough. Possibly even the government?Who is going to loan $0.5bil to the AFL in this climate plus the ongoing uncertainty over media rights. Not good timing.
It's an asset on the books for under 300 mill. During this crises it will generate nothing but cost.Marvel is apparently worth close to a billion so that’s fair collateral and if they show they are going to make cost cuts I think they could probably find it easily enough. Possibly even the government?
Marvel is apparently worth close to a billion so that’s fair collateral and if they show they are going to make cost cuts I think they could probably find it easily enough. Possibly even the government?
You don’t sell the asset it’s just collateral.It's an asset on the books for under 300 mill. During this crises it will generate nothing but cost.
The AFL would have to take bargain basement price, and sign a deal giving guaranteed games and income to the new owners.
It would be a disastrous outcome.
On moto g(6) plus using BigFooty.com mobile app
Assets are worth what somebody will pay for them.
Do you see a queue of people offering a billion for a stadium that wont get much use (in terms of revenue anyway) for quite some time?
It's an asset on the books for under 300 mill. During this crises it will generate nothing but cost.
The AFL would have to take bargain basement price, and sign a deal giving guaranteed games and income to the new owners.
It would be a disastrous outcome.
On moto g(6) plus using BigFooty.com mobile app
This money will be called on by the WAFC, who will use it to prop up the WAFL and several of its clubs. Never thought I'd say this, but thank God the Eagles have been successful recently.The Eagles have cash reserves of about $45m so we'll be right. Hell, maybe we'll go into the loan business for other clubs.
This money will be called on by the WAFC, who will use it to prop up the WAFL and several of its clubs. Never thought I'd say this, but thank God the Eagles have been successful recently.
"AFL's richest club sits on massive cash balance while the WAFL dies" is not a headline any of those directors will want to be party to.Do they have the right to the money under the terms of the AFL sub licence:
- IPL uses the football assets of the WAFC under a sub-licence arrangement whereby a football team participates in the Australian Football League Competition.
- IPL is to pay the WAFC a royalty each year determined on a basis relating to the results of the Consolidated Entity’s operating activities.
I'm not suggesting the Eagles would unreasonably withhold the money, but IPL is a legal entity & its directors have a responsibility to it.
if a club or two fall (even 3) and the draft is a mess this year, AFL may go into expansion mode.
New SA team, New WA team, Tas team
Let them pilfer the draft, hand them licences that are collapsing....
Maybe the players can take a paycut to keep their business going. Many others in the real world may need to, why are 20somethings on half a mill plus a year immune to this?
This event could force a paradigm shift on the real value of sport and athletes.
In no way should Government money be used to prop up any professional league when Govt expenditure is going to be stretched so far in the foreseeable future.
Sent from my SM-G965F using Tapatalk
"AFL's richest club sits on massive cash balance while the WAFL dies" is not a headline any of those directors will want to be party to.
In all seriousness, that's the whole point of this structure - Eagles and Dockers make money and it gets used to fund grassroots footy.
You don’t sell the asset it’s just collateral.
The property market hasn’t crashed and even if it did it’s more then enough for a $500mil loan from an organisation that can constantly make huge profits without even trying to watch their money.
I'm thinking the AFL would want that money before the WAFC."AFL's richest club sits on massive cash balance while the WAFL dies" is not a headline any of those directors will want to be party to.
In all seriousness, that's the whole point of this structure - Eagles and Dockers make money and it gets used to fund grassroots footy.
IPL directors need to look after IPL by law. Can they pay the expenses if the worst case scenario occurs? Thats what they are required to do.
I understand/applaud the structure, its the best business model in the game imho & given personal bias - regardless the directors have legal requirements.
My point is that it is not as simple as stripping the bank account.
They may negotiate deferred pay rather than a pay cut.The vast majority of players are earning far far less than 500k,and their careers only last a few years most of the time.
It kinda is...
When a company is 100% owned, then yes, the owners can strip the assets.
There are some issues if you take so much that the stripped company can't meet it's obligations (cue lawyers/accountants...), but 'excess' funds are pretty much fair game.
I'm thinking the AFL would want that money before the WAFC.
They cannot take it of course, but taking loans of clubs with positive balance sheets may be a way forward.
On moto g(6) plus using BigFooty.com mobile app
IPL directors do not fail the best interests duty by prioritising the interests of their shareholder.IPL directors need to look after IPL by law. Can they pay the expenses if the worst case scenario occurs? Thats what they are required to do.
I understand/applaud the structure, its the best business model in the game imho & given personal bias - regardless the directors have legal requirements.
My point is that it is not as simple as stripping the bank account.
If money is tight then Tasmania has no chance of getting a license...
Most still earn more than most employees of businesses who will also struggle through this.The vast majority of players are earning far far less than 500k,and their careers only last a few years most of the time.
Channel Seven will be stoked - they'll get some of their money back.Everything would be on the back burner. The game as we know it is suffering a possible existential threat.
No or few games. No paying crowds, sponsors falling over or shrinking. Some clubs in a poor financial position. Limited AFL support. Geez, even Ch7 was under financial pressure before this.
Pablo Cassals perhaps said it best, "the situation is hopeless, we must take the next step"
I guess We dont know the future but whatever it is, things must/will be different.
If you were short changed as a result of that action, i'd put my money on you getting an injunction to stop proceedings.
Its not as hard as it may seem.