About $3 million, I think.

Should be announced soon.

Great News!

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"The ability to speak doesn't make you intelligent." Qui-Gon Jinn 15-05-2005

"there’s more chance of me becoming the full forward for the [Western Bulldogs] than there is of any change in the Labor Party." Julia Gillard 18-05-2010

And yet some people think that by mentioning Judd and the captaincy that our president doesn't know what he's doing

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WADA medical director Dr Alan Vernec describes Essendon* FC drug case as biggest scandal in team sport the world of sport has seen. #WC2WB

#GUILTY

decent turn around in 1 yr...

$3M!!!

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|♥♥♥♥♥♥| http://www.blueseum.org |♥♥♥♥♥♥|

As Darrell would say:


Ho-ho gee! That's HUUUUUGE!!!!

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And so while others miserably pledge themselves to the pursuit of ambition and brief power, I will be stretched out in the shade, singing.

Kenny,

Do you know how much our debt is now and if we paid back the AFL yet ?

With respect to RP, its the members, sponsors and corporate supporters that have also been the heroes on this one.
RP and the board offered hope and a vision which we desperately needed but its the supporters that should be equally proud.

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Looking forward to seeing our potential realised.

Nice.. Wonder how much of that is from Pratt's pocket.

AFL's handout makes up fair bit of the profit.

We've paid about $1.5m off the debt, which is now between $6m-$7m.

Raheen gig raised about $2m and membership, sponsorship, match attendances and merchandise were all up significantly.

It's a staggering result, given we posted a loss of a similar amount last year.

Geez, a $5 million turnaround from last year and wiping off almost half our debt in one swoop, not too swabby at all....

Bosman I would nil because if it is profit then it would be income (memberships, gate takings, merchandise and sponsors) less expenditure.

And with carried forward losses from previous year, hopefully the treasurer wont get a cent in tax

Great result

How do you figure the debt has been half wiped ? I thought it was about $8 mill last year so they paid about $1 - $2 mill.

I wish the debt was reduced by more but this is fantastic though, dont get me wrong.

If we made a $3million profit and owed 8 last year then it's down to 5 million now. A 37.5% reduction, which I lazily referred to as almost half.

The debt's not an immediate concern.

Quite rightly, the club's priority has been to pump more money into our under-resourced footy dept.

And more will be poured in for next season.

Most sporting Clubs are constituted as non profit and generally are not required to pay tax. However there have been some issues relating to taxation for various clubs, including CFC, as a result of some of their financial structures.

I just would feel better to have the debt paid now while we have Richard Pratt before he goes. I am worried about when he goes we wont have this money pulling power anymore.

Of course I am naive here, I am sure he is planning for the future. ie hotels, sponsorships etc

Pratts plan is to ensure we're self sufficient and able to stand on our own before he leaves.

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"The ability to speak doesn't make you intelligent." Qui-Gon Jinn 15-05-2005

"there’s more chance of me becoming the full forward for the [Western Bulldogs] than there is of any change in the Labor Party." Julia Gillard 18-05-2010

Im not a financial advisor, but eradicating debt shouldnt be our priority- generating capital had to be, and Pratt and the baord (led superbly by Harrison, Fried, Moulton, Littman in particular) have done this fantastically.

The debt will only be eradicated when we are a money making machine-- good times ahead

The Raheen dinner funds were put in the bank for allocation to the footy department. RP said this publically during the year.

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Mjonc signing off at 8888