For some odd reason I thought that the AFL had appointed the australian write (partrick smith) as the independant observer when I read the release initially. Was literally fuming until I realised it was mike fitzpatrick

Oh - and a side comment - 500k grant from the AFL to use the ground...

doesnt it cost us 1.8mill per annum to service nowadays?

http://carltonfc.com.au/default.asp?pg= ... eid=282196

Theres also another one where Smorgon talks abit more about the reasons for under budget performance.

M

It still worries me greatly that the ONLY way that they talk about turning around the clubs fortunes is through better on field results.

$500k from the Annual Special; Distribution Fund.

Does that mean it is an annual grant????

_________________
T E A M

Well until they find a sponsor for the Blueseum that's all they've got.

I hope this $500,000 is a yearly grant though it doesnt seem to be. I thought the maintenance costs were higher too per year? $500,000 one off isnt going to solve long term issues of ground maintenace ?

my reading of it is that it is a once off grant.

In terms of ground upkeep costs - if we use the pre-optus move upkeep ($300kish) costs then its enough. If we use the last quoted upkeep costs aroound the time of last AGM then we would be about 1.3mill short (1.8mill required)

The 1.8m was an all-in, asset replacement type number ie it assumed replacement cost over the life of the asset. Its a lot higher than the actual ground costs for this year.

Dont worry about the annuality of this. If we're still stuck next year we have this great thing called PRECEDENT.

If we're still in the mire in 2 years we'll get an extension on the interest free loan.

Just turn up to games, cheer as loud as you can, buy pies, and vote for different Directors...OK?

thats the first time I've heard of a reasonable explanation for the huge increase in ground upkeep costs - much happier about it than previously.
thanks

ok ...will do


and here's some more embarrassment

AFL statement re Carlton

Profitable by 2008

_________________
There's so much I could say...

I cringed reading that.

_________________
Writer for SuperCoach Paige www.scpaige.com.au
Twitter - @johnfeeney24

We need Fitzy on board for more than 3 months. Talk of more external advisors?? A plan that provides for a better financial position - easier said than done and with the bozzos running our club pfft. Fitzy grab the bull by the horns please.

What were they thinking last year when they budgeted in 2006 for over 30,000 members coming off a disastrous 2005. Where does this all fit in our "other" financial plan which we were supposedly half way thru as reported at the AGM??????

Right, thank christ that's all out of the way. Now lets get back to running this great club of ours I say.

I believe Kouta's up for contract renewal. He's getting on a bit so I reckon we play hardball. $750K for three seasons, plus half the marketing allowance. And not a penny more!!

Good one nightcrawler

_________________
Due to recent budget cuts and the rising cost of electricity, gas, and oil....... the Light at the End of the Tunnel has been turned off. We apologize for the inconvenience.

I heard the full press conference on carltonfc.com.au.

In relation to the $500K, it is for 2007, however, the AFL will be announcing shortly a special Financial distribution strategy fund (on top of the already annual payments all the clubs receive) that will assist in financially securing all 16 clubs. This has come about as a result of the recent TV and soon to be announced Radio rights.

This soon to be announced 'financial distribution strategy fund' has been mooted as accelerating the recovery of the club from it's debt an ongoing maintenance costs.

Fitzy's role will entail the utilisation of his financial & business skills. You could call it a secondment onto the Carlton board. His tenure on the board will be for the life of the loan, ie until all the 1.5M funds have been exhausted.

We will need to provide monthly financial statements to the AFL as part of the deal, to monitor financial performance.

The advisors role will be there to assist the club with resources required to run the club, eg finance, accounting, administration, etc The labour is funded by the AFL, not Carlton - so that's an intangible add on.

One of the media asked about the benefactor coming in and assisting, to which Smorgon said along the lines of, "what benefactor? I don't know of a benefactor that exists, that's the media reporting it" or something along those lines.

Smorgon completely and flatly denied ever requesting to play a game interstate - he thinks that's just a media beat up and quashed the rumour (Jim Wilson is usually on the money - interesting!!) The Spew added even if Carlton did request a game interstate, the AFL would have knocked it back for the reason that the club needs to win games in order to assist in the off field recovery, and in order to do that they need to be playing home games in Melbourne.

They were the key out takes.

_________________
For some silly reason, you people want to assassinate him, and it's just rubbish. You people. All of you, ALL of you!

Cheers for the update Wangers.

I might be tempted to by Pies at the Spotless Free Dome - but at the MCG jusfogedabutit.

_________________
"Hence you will not say that Greeks fight like heroes but that heroes fight like Greeks"?

Winston Churchill

Good stuff Wangers!

Blues still in red despite AFL cash




The man for the future!

http://www.realfooty.theage.com.au/real ... 55736.html
reading and thinking more about it - I'm almost convinced now that the 500k ground maintenance will continue into the future (refered to as an annual grant - cant be annual if its once off!)