http://www.carltonfc.com.au/news/newsar ... fault.aspx



The 146th Annual General Meeting of the Carlton Football Club will be held at the MCG on Tuesday December 14th, at 6:00pm. All registered Members of the Club are welcome to attend the 2010 Annual General Meeting.

_________________
"You are being watched. The government has a secret system. A machine that spies on you every hour of every day. I know because I built it." - Finch

Its good, but our debt has increased by around $1M+

There's more than one way to react to this years' financial report...

Current asset deficiency of $8,079,834

or...

Everything is under control...have another

or... (and this is kinda where I sit) -

Unless we double our sponsorship and marketing revenue, ensure our total revenue derived from membership is at least $10 million per year and win a Premiership - then we're heavily reliant on monies derived from AFL distributions and pokie machines to get ahead.

The members and supporters have done their bit...time to ensure the board doesn't get stale and fresh ideas start permeating throughout this organisation.

Dead right Doc

I'd love to see the debt going down not up.

There is definite benefits being debt free....interest comes to mind...interest for $8M
That debt has been carried since the write down of the Princess Park Stadium deal Ellliot created for our club pre 2002...and it's still there...in fact growing.

So many other teams doing things proactively to pay off debt, like Dees and Tigers...what about us?

Nice to see the operating profit, but I expect better than what we've done (or haven't done) on the debt side.

As of yesterday, I am debt free, and I can tell you that it feels really good, and now I can plan on another round of controlled debt that will make me money.

_________________
Everyone looks good in Navy Blue

Whats wrong with giving us the net profit not the operating profit ?....not as pretty a sum ?

8mil in debt would be costing the club 700k min in interest/yr alone.

Some of the debt is related to the new Facility, its not all linked to the Legends stand. The Clubs borrowed more money but has a significant state of the art asset now unlike the Demons, Tigers, etc

Membership down $600,000 but gate receipts up $1.1 Million

I'd imagine gaming income is set to explode over the next few years with 260 machines coming on-line and this will provide an income stream pay off our loans and then medium to long term develop into a serious banker for the Club?

Get Jeanie Pratt to shake her handbag... I'm sure 8 Mil worth of spare change can fall out, and then BANG!!! Debt free and we can all move on....

_________________
James Hird and Essendon* FC - #FOREVERDRUGCHEATS

Exactly - that family has done pretty much nothing for the club in the past.

_________________
The only way for some people to understand is for them to be on the receiving end

Left wing moralists
In self serving denial
They shit me no end

Must be something in the name - Swan

We will have the budget in to surplus in 2013

No mention of how long it will take to pay off the debt in the mean time


Its all done with mirrors

_________________
If you allow the Government to change the Laws in an emergency
They will create an Emergency to change the Laws

Debt = new clash jumper = loss of identity.

_________________
THEY LIKE TO SEND UP!!!!!!!!

Until each team plays each other the same number of times, the AFL, as a fair dinkum competition, cannot be taken seriously.

He (Mr Swann) said the honour and pride associated with the club's traditional navy blue jumper was priceless.

Why don't we tax the mining industry to generate revenue?

waits for Duke and stubba and aircav to roll in with howls of 'waste and mismanagement!'

It will all be good in 12 months time. War has broken out in Korea, so now Gibbsy will be the stand out player for 2011 , and the premiership is ours. Right Blueman ?

$8 mil is a truck load of money to be paying off. Conservatively if 'everything' goes to plan you would think 10 years of sustained profits, but then again isn't that what we had this year and ended up adding to our debt still? Is the new $1.5mil loan making the figures look better that they actually are?

No. of years profits for a business isnt necessarily the way to look at it - that makes sense for say a non-recourse or property play where you have a set number of years of contracting cover or asset life to make your debt back.

For a business you need to look to sustainable debt ie what level can be covered by ongoing operations. Of course management could choose to reduce debt over & above this, and it definitely looks better to the fan, but insofar as the debt servicing can be covered in comfort then you're OK. To me Carlton is still in the build-out mode, adding to coaching panel, development, fitness etc. and is trying to compete, where it can with the big boys. This will take time, as COllingwood's revenue (boosted by two GF's) was twice ours in 2010.

What disappointed me more was the relatively low level of revenue increase. We need the revenue to cover increased operating costs (first, before other costs) and I'd been hoping that we could pick this up and compete with the bigger clubs earlier. That being said we're still double the 2006 AR numbers:

Revenue 18.364M (2005: 19.298M)
Net Loss 6.29M (2005: .30M)

...so progress is being made. This is still a function of core investment and if we're investing in the quality side (think costs) before revenue side (think investments, business) then maybe it makes sense.

I'd agree with that to an extent Doc. Fresh ideas would be welcome but the debt is manageable, provided they don't seek to further re-finance in the next 5-10 years. That's unlikely given the new facility.

The new facility is also a place where they could start re: new revenue streams.

_________________
29 different attributes,
And only 7 that you like;
20 ways to see the world,
Or 20 ways to start a fight.

Gary March seems to have the same doubts I do.
http://www.heraldsun.com.au/sport/afl/b ... 5961119936

Gary march needs to ficus on his shit backyard I'm tipping

_________________
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

Have a read of Richmond's numbers. They pump about 3 million less into the Club in terms of staff salaries. Otherwise, their balance sheet is a bit healthier in terms of liquidity.

_________________
29 different attributes,
And only 7 that you like;
20 ways to see the world,
Or 20 ways to start a fight.