Every AFL club depends on handouts from supporters.
Collingwood's Vice President is the son-in-law of Pratt and one of their biggest financial contributors. Eddie has a great knack of getting people to put their hands into their pockets at fundraisers at Raheen.
I'm not a bean counter, but I believe the Pies' revenue includes the turnover of their hotels which are losing money. The Pies made just $1 million from a revenue of $75 million. If they hadn't paid off $7.2 million of debt that due last year, they'd have liabilities of $25.5 million to our $10.8 million. They have cash in the bank, but it's a small furphy that they're well managed and living by their own means.
AFL Victorian clubs auditQuote:
PREMIERSHIP glory has paid off for the Pies, with the club using its gigantic revenue flow to completely pay off a $7.25 million loan due last year.
But bad smells linger from the club's ill-fated purchase of two pubs for $14.5 million in 2006 and 2007, just before the market crashed.
The club has slashed the value of the pubs every year since. This year it cut another $4.39 million from their value. That leaves Albert Park's Beach Hotel, which the club is still trying to offload, worth just $1.56 million.
Collingwood is holding on to the other pub, the Diamond Creek Hotel, worth about $3.7 million.
I'd love someone to go through the annual reports of the clubs and explain it in plain English.
The Dogs are more asset rich than the rest of the Victorian based clubs.
For mine, Hawthorn are the biggest club with their cash reserves, membership and income derived from playing in Tasmania.
Geelong's revenue is high because they control Kardinia Park and make money from reserved seats like we used to control Princes Park. We're locked into Docklands with a crap deal like every club bar Essendon*. Elliott was a poor President, but Collins and the AFL should be blamed for locking a big Victorian club into a smaller stadium. I felt sick looking at that huge social club the Pies have at the MCG.
Carlton may have a bad membership and communication departments, but that's no excuse for a list such as our's to lose members like we did last year. An attitude of We're Carlton, @#$%&! the rest and our slogans can't be blamed for members not renewing. Collingwood and Essendon* supporters are just as confident or arrogant that their history of success will hold them in good stead. They don't hide from it and try to be humble.
Ratten and Kernahan bad...
Buckley and McGuire good...
