Rumour The St Kilda debt situation - no more tick

[The Warlord]

Suggestion from a well placed thourthe that big non Vic clubs have said no more debt support for the Saints.

Covid wasn't as bad as feared for the comp and time for fiscal reality to hit, given their own massive revenue hits.

Obviously this still needs AFL to agree but not good for the Sainters.

If the AFL refuses to guarantee club debt, that club is bankrupt when it is holding large debt like the Saints.

Interesting times ahead. Saints need a Dogs 2016 flag.

 

[Cleric]

Tasmania finally gets its team.
The Tassie Apples.

 

[Brutalitops]

How much debt do they actually have?

 

[The Warlord]

How much debt do they actually have?

$12m+ ... and counting.

 

[The Warlord]

Ron Jalph is getting the good oil from HQ.

If the Roos are relocating – with 11 profits in 12 seasons and $450,000 of debt – then they are doing it a long time after St Kilda, with $12 million in debt and $4 million in annual distributions more than any other Victorian club in each of the past three seasons

https://www.heraldsun.com.au/sport/afl/teams/north-melbourne/jon-ralph-examines-nine-issues-north-melbourne-must-fix-under-new-coach-david-noble/news-story/c9c19c91aeef0c798a149abd45967d9c

Note the narrative changing here.

St Kilda are now the club in the gun.

 

[3rd Grade Maggy]

I've heard it's over $1000, Crippling figures

That's really only $75 that they have to repay then - based on their history.

 

[The Warlord]

That's really only $75 that they have to repay then - based on their history.

A salient point good sir.

Suggestion is Sainters looking for AFL to assist them with another similar arrangement and the big clubs going no effin' way.

 

[The Warlord]

A betting man would have a punt on St Kilda getting a lot more frees than they give away next year.

Going by the AFL's preferred equalisation model as per 2016 in these situations.

 

[Brutalitops]

$12m+ ... and counting.

Yikes. Whisper thin operating profits too arent much help. Think they were sub a million last year...

 

[The Warlord]

Yikes. Whisper thin operating profits too arent much help. Think they were sub a million last year...

And they get the highest special distribution/handout etc of any Melbourne club.

North have been mediocre at best since our near death experience in 2007 ... two prelims ... but we paid off our debt and baked in a profit model.

That focus cost us onfield. But for a 150+ year old club, it made strategic sense. Sacrifice ten years onfield to guarantee your future.

As we see now, St Kilda are the side in the gun, not us.

Tbh, I doubt it actually comes to them being relocated forcibly.

But it isn't unpossible.

 

[Crust]

If this rumour is correct one would expect the directors of the Saints immediately to resign en masse - as the directors become personally liable for debts incurred by a corporation trading while insolvent.

 

[brmi]

A betting man would have a punt on St Kilda getting a lot more frees than they give away next year.

Going by the AFL's preferred equalisation model as per 2016 in these situations.

Salty. By your logic on equalisation North would've finished top 4 this year. How'd that pan out for you?

 

[The Warlord]

Salty. By your logic on equalisation North would've finished top 4 this year. How'd that pan out for you?

This doesn't make any sense.

We don't have $12m in debt like the Saints do know and the Dogs did in 2016.

 

[The Warlord]

If this rumour is correct one would expect the directors of the Saints immediately to resign en masse - as the directors become personally liable for debts incurred by a corporation trading while insolvent.

Well no, the AFL has yet to walk away from guaranteeing the debt, like they effectively did to Fitzroy.

The rumour is the big interstate clubs are saying hey, we just lost tens of millions due to COVID, no more largesse for St KIlda.

So ball in StKiklda's court now. Increase revenue or cut spending.

 

[Buzzasto DaSilva]

Well no, the AFL has yet to walk away from guaranteeing the debt, like they effectively did to Fitzroy.

The rumour is the big interstate clubs are saying hey, we just lost tens of millions due to COVID, no more largesse for St KIlda.

So ball in StKiklda's court now. Increase revenue or cut spending.

Increase revenue? Cut spending?

What are you suggesting? Double their ticket prices and make sponsors pay three times as much? Or should they pay a salary cap with less than minimum spend? Cut their coaching support staff to an inferior level compared with their competitors? Sell some treadmills or some footballs?

The Saints will be fine. Plenty of industries and organisations have struggled this year. Stop trolling.

 

[Altum Volantes]

At least it would shut Nick Reiwoldt up about that Tasmanian team we desperately need now and not at all during his career.

 

[brmi]

This doesn't make any sense.

We don't have $12m in debt like the Saints do know and the Dogs did in 2016.

But you are on the verge of folding/relocating/merging unless performance, therefore increased revenue, improves at a rapid rate. So your model also applies to your basket case and was implemented this year, just North were to putrid to capitalize on it.

 

[Crust]

Well no, the AFL has yet to walk away from guaranteeing the debt, like they effectively did to Fitzroy.

The rumour is the big interstate clubs are saying hey, we just lost tens of millions due to COVID, no more largesse for St KIlda.

So ball in StKiklda's court now. Increase revenue or cut spending.

Ah I misread the rumour.

 

[The Warlord]

Increase revenue? Cut spending?

What are you suggesting? Double their ticket prices and make sponsors pay three times as much? Or should they pay a salary cap with less than minimum spend? Cut their coaching support staff to an inferior level compared with their competitors? Sell some treadmills or some footballs?

The Saints will be fine. Plenty of industries and organisations have struggled this year. Stop trolling.

It isn't just about this year. And see above for what we did to get rid of debt.

 

[Tasmanian saint]

We carry minimal debt. Not an issue for us.

Please contribute to the topic.

This is very rich coming from a north supporter you’re position is very reliant on your Tasmanian deal and spirit of Tasmania sponsorship if they were to get canceled like the Tasmanian government is threatening at the to do at the moment then you would quickly go back to million dollar plus loses each year especially when your looking at being a bottom 4 team for a few years your definitely not in a position to be throwing stones

 

[LB#16]

We carry minimal debt. Not an issue for us.

Please contribute to the topic.

Also you:

It is a number less than that of Essendon players suspended for drug cheating.

But getting towards the numbers of years since Essendon won a final.

That was one hell of a plot twist.

 

[Tasmanian saint]

Ron Jalph is getting the good oil from HQ.

https://www.heraldsun.com.au/sport/afl/teams/north-melbourne/jon-ralph-examines-nine-issues-north-melbourne-must-fix-under-new-coach-david-noble/news-story/c9c19c91aeef0c798a149abd45967d9c

Note the narrative changing here.

St Kilda are now the club in the gun.

It’s not all about the debt St kilda had more debt then north back when the afl tried pushing you to the Gold Coast . It’s norths location that will always make them vulnerable wedged in between Carlton dogs Essendon Melbourne in a small area st kilda represents a large growth area right down to the Mornington peninsula the afl will always want a club based in this area.

 

[st_trav_ofWA]

of that debt how much of it is tied up in the building of Moorabbin ? i would say the vast chunk of it is .. so its a debt for an assett that will bring in potentail revenue once compleated ... seeing the word Debt doesnt always mean trouble when the debt is securing assetts ... yes North carry minimal debt but they also have two parts of stuff all to show for it ...
St Kilda will be fine the debts we have are being serviced , the issue comes when you cant service your debts

 

[Freomaniac]

lol at a North supporter starting this type of thread

Yep and this is the same north fan that claimed North sacrificed them selves to the AFL and prevent the AFL from going bankrupt because north got 15-20,000 People goin' to Docklands.

But as you said. I loved your reply.

Saying it was bull#### as it was the equivalent of a dole bludger getting money from the government and for stimulating the Aussie economy buy spending a lot of money on alcoholic drinks LoL

 

[00Stinger]

Yep and this is the same north fan that claimed North sacrificed them selves to the AFL and prevent the AFL from going bankrupt because north got 15-20,000 People goin' to Docklands.

But as you said. I loved your reply.

Saying it was bull#### as it was the equivalent of a dole bludger getting money from the government and for stimulating the Aussie economy buy spending a lot of money on alcoholic drinks LoL

oh no not that guy again

I did like that line myself