Rumour The St Kilda debt situation - no more tick

[Freomaniac]

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

What's the issue with Moorabbin? Are the saints spending more on training facilities?

Are they putting pokies in their pubs?

 

[Freomaniac]

oh no not that guy again

I did like that line myself

I literally fell off my bed laughing when you 1st posted that. LoL

 

[The Warlord]

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.

Clubs with no debt that are making profits don't fold mate, even if they're shit on field.

 

[Beerfish]

Clubs with no debt that are making profits don't fold mate, even if they're sh*t on field.

There's also a first time for everything.


And yes sometimes that thing is rapidly followed by 33 other very similar things.

 

[The Warlord]

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

We will deal with that if it happens.

St Kilda have to deal with massive debt now.

 

[Tasmanian saint]

We will deal with that if it happens.

St Kilda have to deal with massive debt now.

Yeah well I think it’s going to happen quite soon going buy what the Tasmanian government has been saying in the media the last couple days couldn’t be worse the timing for north

 

[Buzzasto DaSilva]

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

Keep the topic on Saints. If you want to gloat about North being a runaway success, make another thread about it.

 

[tigers_of_old_08]

Keep the topic on Saints. If you want to gloat about North being a runaway success, make another thread about it.

haha

 

[Tasmanian saint]

We will deal with that if it happens.

St Kilda have to deal with massive debt now.

So the banks have called up and want full payment on all the debt right now have they ? You really have no idea how these things work do you a bank will never call for full payment on a debt if it’s being serviced as they do very well on the interest payments alone

 

[st_trav_ofWA]

What's the issue with Moorabbin? Are the saints spending more on training facilities?

Are they putting pokies in their pubs?

the revamp of the moorabbin base is huge ... its a $30m upgrade of the oval and facilities around .. the development in part funded by state and federal government as well as the AFL and the St Kilda football club . once finished will tie St Kilda to the area for generations ... yes North have no debt at the moment but they are without a base to claim theirs in their community ... St Kilda basically own that whole area and have community ties running deep .. yes it costs a lot and yes it is putting a HUGE debt on the club but the debt is servicabe by the club and the debt is bringing positive assets to the club that will service up to 15000 football players from all levels of competitions...
from the outside looking at numbers only yeah it looks like St Kilda are in trouble but the truth of it is we are doing things to set us up for future generations..

 

[Brett C]

So the banks have called up and want full payment on all the debt right now have they ? You really have no idea how these things work do you a bank will never call for full payment on a debt if it’s being serviced as they do very well on the interest payments alone

I have no idea around the overall position of the St Kilda finances but I can tell you from working in commercial banking for a number of years that banks can and do request full payment of a debt even if the repayments are being made.

There would be a number of covenants included in the loan agreement around key financial metrics that need to be met, if they aren’t met then it can trigger a bank requiring the debt to be repaid.

 

[st_trav_ofWA]

Clubs with no debt that are making profits don't fold mate, even if they're sh*t on field.

creative accounting can make anything look like a profit ... i would be more worried if i was a North supporter about your lack of a community to be part of ... if im the AFL and im needing to punt a team out i would be punting the team or irrrelavance that wont cause distruptions when they go not the club that has a $30m joint investment in community development and grass roots footy ...
St Kilda have debt but its debt that is impacting its community setting in deep roots into the geographical area
North might not have debt but they are irrelevant to their geographical area

its like saying a home owner with a mortage is worse off then the guy who rents a room in a share house cause he doesnt have a mortage

 

[Roylion]

i would be more worried if i was a North supporter about your lack of a community to be part of ... if im the AFL and im needing to punt a team out i would be punting the team or irrrelavance that wont cause distruptions when they go not the club that has a $30m joint investment in community development and grass roots footy ...

You'd better call Jon Ralph and set him straight.

"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...."

Herald Sun: November 25, 2020

 

[Shadow89]

It must be tough being a supporter of such an irrelevant club, that you literally have to make threads that either bignote yourself - such as in the case of that ludicrous 'we saved the AFL season thread' -, or tear down others to make your club look better - like this thread.

The Saints will have more revenue next year, once Morrabbin works are not draining their finances/increased membership revenue due to increased on field successes.

Your club, however, is going through a complete rebuild at a time when list sizes are being cut, salary caps are coming down, and overall AFL revenue will be contingent on immediate membership/ticket sales/media viewership revenue. Saints will have record membership next year, given their prospects and the acquisition of Crouch to a finals tier side. North Melbourne won't even see past the Bottom 4, have the worst midfield and forward line in the comp, and have nothing in the immediate sense that will draw more revenue in.

You might not have debt, but you also don't have much revenue or prospects. That's why there's good debt and bad debt.

Get your head out of your ass and realize that your club is the only one who has been discussed as relocating - no-one else has. To try and deflect from your own club's significant shortcomings, by making out like another is in more trouble, is just sad mate. Make a thread when your club actually does anything of note over the next 20 years.

Peace.

 

[st_trav_ofWA]

You'd better call Jon Ralph and set him straight.

"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...."

Herald Sun: November 25, 2020

again Ralph is just looking at numbers not actual assets attached to the numbers ....
when is was in my 20's earning an apprentice wages living in a share house paying as little as i could to cover rent at the end of the finacial year i had $3k "profit" in my name
now in my 30's earning managment wages servicing a $450K home loan at the end of the finacial year i have $200k debt to my name ...
looking at the numbers 20 yearold me with $3k is better than me with $200k debt in my 30's but end of that day 30 yearold me is much much better off

 

[Tasmanian saint]

I have no idea around the overall position of the St Kilda finances but I can tell you from working in commercial banking for a number of years that banks can and do request full payment of a debt even if the repayments are being made.

There would be a number of covenants included in the loan agreement around key financial metrics that need to be met, if they aren’t met then it can trigger a bank requiring the debt to be repaid.

It depends what’s in the contract/ agreement which nobody knows if there meeting all of the benchmarks what reason would a bank have to call on the debt no doubt the afl would be acting as a guarantor for some clubs as well

 

[Tasmanian saint]

You'd better call Jon Ralph and set him straight.

"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...."

Herald Sun: November 25, 2020

Because Jon Ralph is a expert on the matter is he ?

 

[Roylion]

again Ralph is just looking at numbers not actual assets attached to the numbers ....

Assets?

In 2018 each club had in terms of assets

• St Kilda – $14,757,811
• North Melbourne – $11,526,082

Since then there's been a $10 million re-development of Arden Street completed last year. They also have another $7 million grant from the Victorian government which will include community and AFLW/VFLW female friendly changerooms, umpires changerooms, multipurpose meeting spaces, multi-media facilities, away team doctor/first aid/ASADA office, a commercial kitchen, and a re-design of the club’s community arm, The Huddle. Construction will commence early in 2021.

 

[Roylion]

Because Jon Ralph is a expert on the matter is he ?

You're obviously the true expert, contact him and set him straight.

 

[Brett C]

It depends what’s in the contract/ agreement which nobody knows if there meeting all of the benchmarks what reason would a bank have to call on the debt no doubt the afl would be acting as a guarantor for some clubs as well

You’re correct, There can be dozens of different conditions built into a commercial finance contract. I was just pointing out it’s not as simple as repayments are being met so the bank just lets things continue along.

Depending on the level of debt there will be regular reviews in place around progress of the project and the ongoing financial performance of the group.

 

[The Warlord]

So the banks have called up and want full payment on all the debt right now have they ? You really have no idea how these things work do you a bank will never call for full payment on a debt if it’s being serviced as they do very well on the interest payments alone

Read the OP. That's not what I'm saying.

 

[The Warlord]

creative accounting can make anything look like a profit ... i would be more worried if i was a North supporter about your lack of a community to be part of ... if im the AFL and im needing to punt a team out i would be punting the team or irrrelavance that wont cause distruptions when they go not the club that has a $30m joint investment in community development and grass roots footy ...
St Kilda have debt but its debt that is impacting its community setting in deep roots into the geographical area
North might not have debt but they are irrelevant to their geographical area

its like saying a home owner with a mortage is worse off then the guy who rents a room in a share house cause he doesnt have a mortage

The entire Arden St region is being redeveloped. They're building a metro station 50m from our front door.

 

[The Warlord]

It must be tough being a supporter of such an irrelevant club, that you literally have to make threads that either bignote yourself - such as in the case of that ludicrous 'we saved the AFL season thread' -, or tear down others to make your club look better - like this thread.

The Saints will have more revenue next year, once Morrabbin works are not draining their finances/increased membership revenue due to increased on field successes.

Your club, however, is going through a complete rebuild at a time when list sizes are being cut, salary caps are coming down, and overall AFL revenue will be contingent on immediate membership/ticket sales/media viewership revenue. Saints will have record membership next year, given their prospects and the acquisition of Crouch to a finals tier side. North Melbourne won't even see past the Bottom 4, have the worst midfield and forward line in the comp, and have nothing in the immediate sense that will draw more revenue in.

You might not have debt, but you also don't have much revenue or prospects. That's why there's good debt and bad debt.

Get your head out of your ass and realize that your club is the only one who has been discussed as relocating - no-one else has. To try and deflect from your own club's significant shortcomings, by making out like another is in more trouble, is just sad mate. Make a thread when your club actually does anything of note over the next 20 years.

Peace.

Victorian taxpayers built your home ground

 

[hansie]

Merge north and saints - that will sort this thread out and provide the slot for a stand alone tassie side. #IdeasMan


On iPhone using BigFooty.com mobile app

 

[Freomaniac]

the revamp of the moorabbin base is huge ... its a $30m upgrade of the oval and facilities around .. the development in part funded by state and federal government as well as the AFL and the St Kilda football club . once finished will tie St Kilda to the area for generations ... yes North have no debt at the moment but they are without a base to claim theirs in their community ... St Kilda basically own that whole area and have community ties running deep .. yes it costs a lot and yes it is putting a HUGE debt on the club but the debt is servicabe by the club and the debt is bringing positive assets to the club that will service up to 15000 football players from all levels of competitions...
from the outside looking at numbers only yeah it looks like St Kilda are in trouble but the truth of it is we are doing things to set us up for future generations..

So short term it's expensive but there are some long term benefits.

Most saints fans want to have AFL games there.

Had the 30 million been used to turn Moorabbin into a 25-30,000 seat stadium for AFL games, most saints will like it to have a fair rental deal just like geelong has with kardinia park.

I assume you can settle with pre season games and AFLW games and ressies then