- Oct 2, 2008
- 9,074
- 19,276
- AFL Club
- Richmond
- Other Teams
- Brothers of Destruction
Moves backwards slowly…
But seriously, this is ****ing ridiculous. How the hell are the clubs reliant on gaming revenue so desperately? One small tweak with our law and the competition can crumble. Time to lower football expenditure, seems like all clubs are spending money they obviously don't have. This is where the issues will lie in football within the next five years. This precident of increasing football expenses to keep up with the rich clubs could backfire on the competition. Too much money is being spent.
But seriously, this is ****ing ridiculous. How the hell are the clubs reliant on gaming revenue so desperately? One small tweak with our law and the competition can crumble. Time to lower football expenditure, seems like all clubs are spending money they obviously don't have. This is where the issues will lie in football within the next five years. This precident of increasing football expenses to keep up with the rich clubs could backfire on the competition. Too much money is being spent.
The five clubs that made a profit without non-football revenue - almost all of which is from poker machine venues - were Collingwood, Richmond, West Coast, Fremantle and North Melbourne. The Kangaroos are the clear outlier from that group of five and, according to the club, made a profit of $1.3 million in 2013 as a result of running a very low-cost operation.
Even Hawthorn, the 2013 premier and one of the game’s most financially robust clubs, had a profit that was assisted by pokie earnings. The Hawks made a healthy profit of $3.1 million in 2013, but they are understood to have earned more than $4 million from their lucrative Waverley Gardens gaming venue, and have plans to earn more from their new Caroline Springs venue.
Geelong, another fiscally strong club that has excelled at all levels, confirmed to Fairfax Media that it would not have been profitable in 2013 without poker machine earnings. The Cats made a net profit of $1.2 million last year.
Carlton earned profits of about $2.7 million from its poker machine operations - spearheaded by benefactor and pokies magnate Bruce Mathieson - which helped it to record a profit of $528,095.
Collingwood made a massive operating profit of $5.22 million in 2013 (plus one-off grants of $11.15 million for its facility for a overall profit of $16.375 million), while Richmond did extraordinary well for a club without significant poker machine revenues, the Tigers making $3.3 million on the back of a hefty membership, gate receipts and the team’s improvement to play finals.
West Coast and Fremantle do not have poker machines and still managed healthy profits, with the Eagles reaping $4.1 million.
But the major surprise from the survey of clubs’ profitably and gaming operations are the Kangaroos, whose chief executive Carl Dilena said the club had run a lean operation that enabled it to make a profit of about $1.3 million.
Read more: http://www.theage.com.au/afl/afl-ne...hout-pokies-20140325-zqmvj.html#ixzz2x3BkmqR4