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Doctor Feel said:
"Glenelg will receive $125,000 from the SANFL in October as part of the first instalment of payments from the sale of Football Park, which it will use to reduce debt.

The Tigers will receive $2 million from the sale of Football Park over seven seasons.

New Glenelg chief executive Glenn Elliott denied media reports the club was on the brink of insolvency, saying it was “tracking very well” on revised budgets.

Chigwidden said the club would cut football department costs — possibly in junior development — but would not compromise its chances of success at league level."

Haha the bleeding heart "We will have no choice but to cut juniors" tactic. No shame.
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GLENELG IS DYING: 3 words that go so well together :).
 
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OH - THE SWEETEST THING!!

Reducing the teams in the SANFL that are drawing from the pool of talent will only help to strengthen the rest of the minnow teams in the competition, which will make it a better training environment to develop our kids in.
 
Schulzenfest said:
Honestly didn't even know Glenelg, north, norwood, south, sturt, woodville and other teams i can't even remember are in financial trouble until I opened this thread. So irrelevant.
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Efa
 

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One of the things I love most about this board is its long memory. Bask in the schadenfreude everyone, I sure as hell am :rainbow:
 
Already seeing the hackneyed "Port should pay back what they owe" death-throes on social media.

Let's humour them.

Let's put the rivers of gold we've supplied in the form of,
  • being the premier box-office draw in South Australian football for the majority of our 146 years,
  • being the catalyst for AFL football and its associated revenues coming to South Australia via the formation of the Adelaide Crows,
  • declining the standing offer to have a rent-free footprint at West Lakes similar to the Adelaide Crows,
  • bumper Adelaide Oval revenue,
  • paying for our AFL licence a second time,
  • paying for the right to play in an SANFL competition of which we are foundation members,
  • our primary role in getting the SANFL a deal on commercial TV (via PAFC board member and McGuire Media CEO Cos Cardone) for the first time since the early 90's,
  • relinquishing our share of the Football Park selloff,
  • our ongoing contributions to the zones we were forced to gift to WWT and Norwood
Let's say we put all that aside and rather than merely pay off what they think we 'owe', we pay the SANFL an extra $2,000,000 per annum for the next 20 years with the caveat that it be redirected straight into the coffers of the 8 legacy clubs.

$250,000 per club, per year, until 2035.

Let's be honest. How many of these spendthrift clubs with their bloated salary caps, third-rate mercenaries, dying supporter bases, existing debts and comical business models - predicated on a parasitic existence at the expense of Port Adelaide, the Crows and the AFL - will still be alive when we cut our final cheque twenty years hence?

Take Glenelg for instance. Even if their current debts to the City of Holdfast Bay and the bank are frozen at an interest-free amount of $3,000,000, if every cent of their share of our theoretical contribution becomes scheduled payments towards debt-servicing, they won't be square until 2027.

Rest assured it will still be "Port's fault".
 
Doctor Feel said:
Is Chiwigi the tigers president?

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GLENELG Football Club says it may not be able to field a team in 2017 if it does not turn around its dire finances, which include debts of $3 million.

Tigers president Nick Chigwidden has called on fans to turn out in force and support the club, which this week revealed a $208,850 loss for 2015.

Glenelg is battling debts of $2.2 million owed to Holdfast Bay Council and $1 million to ANZ Bank. Chigwidden said the club needed to take “drastic action” to improve its finances.

Asked if the Tigers would struggle to field a team in 2017 if the situation did not improve, Chigwidden said: “It’s a bit of a what-if ... but the worst-case scenario, you’d say yes.

http://www.adelaidenow.com.au/sport...7/news-story/7450075307c77da38cd1810419236dd2
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He certainly has my budgeting skills.
 
 
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