sounda
Cancelled
- Apr 29, 2016
- 377
- 561
- AFL Club
- West Coast
Key word in your post is 'business'. Are we members of a business or a club? We think it's the latter, the club treats us like it's the former.
Curious thing - The WCE licence for the VFL / AFL was founded by a publicly listed company - IPL. That company raised funds on the back of issuing unsecured notes = note holders. From memory - the only purpose of IPS was to raise dollars for the WCE. Without researching - memory tells me that the licence cost around 4 or 4.5 million dollars in 1986 and we still pay royalties (big dollars) back to the AFL today. Those initial funds (Brisbane Bears paid as well) were used to prop up 7 VFL clubs who were 'technically' insolvent and whose finances were being investigated by the Corporate Affairs Dept. A letter from the Commissioner of the Corporate Affairs Dept was sent to the Chairman of the VFL to explain what they would be doing to remedy the finances of the 7 clubs? The rest is history.
Given that the background of the WCE was a business transaction to begin with - it is not unreasonable that many of their transactions and dealings will reflect basic business principles. Indeed, I sometimes look at the profit and loss figures of some of the AFL 'clubs' and many of them are still struggling to survive financially. As a result, they have become reliant upon the AFL redistributing millions dollars from financially successful clubs (Collingwood, Hawthorn, Essendon, WCE and Adelaide etc.). Many of those failing clubs pride themselves on the 'club' aspect - which might be an attractive thing to some. However, without the subsidies provided by the 'business' clubs they might well struggle to field a team. The dollars other clubs and their members pay (as well as the concessions provided) to GWS is a crime.
Anyway, that's my rant and hope my facts are basically correct. Excuse typos - am rushing!