Oh and I forgot the 3rd part of the plan will be that we along with every other club will get a bigger distribution from the AFL as a result of the new TV deal.

I think the ground upkeep grant is reasonably fair as realistically PP is still our primary training base and the AFL share the facilities for various uses as they require. As such, an annual grant for a share of the upkeep of these facilities is reasonable and I think the amount is fair to both parties. If the upkeep costs are as much as the club suggests, then it might seem like a small amount but I think the amounts the club claim are a tad inflationary for dramatic effect. We should still expect to fund some of the maintenance costs as it is our training base and spiritual home.

Now about defaulting on that loan...

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C'mon Blueboys!

No drama really we get 500k for them using the ground a 1.5 mill loan and a AFL Patsy on the board to replace the one that left some months back .

Nothing change much

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

Just a reminder, TC'ers. The 500K is a one-off grant, ie just for 2007.

Under the soon to be announced Financial strategy distribution fund as an outconme of the 2007-11 TV rights deal, we will be able to sufficiently cover the cost of the Princes Park upkeep, so said The Spew.

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

Looking at the small picture, it's great that we're getting the interest free loan, and the monkey K for ground up-keep.

But there's a bigger issue here.

Clearly the AFL (correctly, in my view) regards our board as incompetent. As I understand it, North, Footscray and Melbourne don't have an 'independent observer' overseeing their boards. Additionally, those three other clubs don't have to submit financial statements each month, even though the AFL is handing out huge dollars, which don't have to be repaid.

There's no doubt the current regime must be removed at the earliest opportunity, as they have now had four years to improve our situation, yet have failed.

It's now time for people who know what they are doing to step up and create a professional ticket so we can get the great Carlton brand re-energised, and get moving again.

Those who believe the Promised Land is just around the corner with this latest financial 'band-aid' had better get back to the real world.

Our current board is a disgrace.

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"The old believe everything, the middle-aged suspect everything, and the young know everything." Oscar Wilde

Fair points!!

When is the next AGM?

This is a massive slap in the face to the Board that has made the AFL place an 'observer' to sit in on board meetings unti lthe loan is paid.

Happy to have Fitzy keeping an eye on things but really believe that the Board has to see this as an opportunity to put a serious business plan in place rather than the make shift band-aid on the woo-woo that is the CFC.

The fact that Fitzy is on board as an observer really highlights how totally inexperienced the current members are.

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“It is a state of mind, a system of belief, a way of seeing the world, a deep faith that, because you are Carlton, you belong to something great.” - Mike Fitzpatrick articulating what Out of the Blue means.

Dunno if you guys read the AFL's statement properly guys:

I really don't know what an alternative set of board members would do so differently as to resurrect or transform our prospects overall. Firstly, I don't see a queue of prospective, high-calibre challengers lining up to take these board positions. Secondly, a footy club is not a run-of-the-mill corporation solely focussed on business operations and generating profits.

Carlton has been put through a near-fatal sanction and had its ability to access the sole means to improve and maximise its most important asset - the playing list - taken away from it. It is a situation not experienced by a club before and one where people who had sufficient foresight predicted would probably bring us to our knees. And it has! We were already at rock bottom and then had the AFL fire a few bullets our way for good measure!

How is a club supposed to continue to flourish and prosper under those circumstances? How do you hope to generate these growing revenue streams when your club is rotting away, year after year, on the bottom of the ladder and producing weekly results that leave you embarrassed? This board may be incompetent or it even may not, but I don't see how anyone could've done a whole lot better. Carlton operates in a saturated football market and has lost the lead in being an innovative, progressive club and the seeds of this decline were sown a LONG, LONG time ago.

Give me some candidates who are supposed to deliver our club to the "promised land" and I'll justify the criticisms

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C'mon Blueboys!

I dunno Jimbob.

Who has'nt read what properly?

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Looking forward to seeing our potential realised.

jim, that has exactly zero to do with turning a $20M per annum business into a $30M business.

Now that the board has more spare time on their hands not worrying about where the next dollar is coming from they now have several months before the next AGM to show the members where the next $10M per annum is coming from, or 3 of them are at great risk.

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

Spot on!

If it wasn't for the AFL we'd be gawn.
Those of the current board who've been there for 4 years couldn't do the job. They've failed and should resign or be removed ASAP.

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There's so much I could say...

Replaced with who?

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C'mon Blueboys!

What you were all asking for was accountability, and a distinct plan.

We may not see one skerrick of this plan, but they are being held accountable by the AFL. That's good enough for me at least.

Funny how things transpire hey?
A few years ago the AFL almost killed us and we, especially AGRO, were out for their blood. Now, they are saving us temporarily and we are thankful.

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

But they regarded our previous board as a bunch of crooks - but at least they were making money. Can't have it both ways.

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

Winston Churchill

Sad to see our once mighty club to have fallen so far as to the afl having to treat us like school children, having to show the afl our work once a month! We are so bad we have to the afl hold our hand to make sure we are doing the right thing.

Oh how far have fallen!!!

I ask once more. What has happened to the business plan that we were half way through at the last AGM? Have we turfed it? Was there ever really one?

Further we were sold on graphical illustrations of greater attendances, more sponsorship, etc a little over 18months ago in order to move out of OO and into TD. Don't recall seeing any powerpoint slides illustrating the necessity for AFL funding in the future to remain in existence.

Was it in the appendix?

This is sort of related, but I keep hearing about how whilst we have reduced a significant portion of our debt we are having big cash flow problems. Can someone please explain what this means, in terms of a football club?

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Formerly Blues-Back2003.

My reading is this. Essentially the new board took over a club that already had cash flow problems. Elliot had reported profits by not depreciating assets, thereby not realising losses as they should have been realised. Using a realistic accouting standard would have meant that the club was posting losses earlier, and he would have been removed before he actually was.

The new board has managed to reduce debt in a number of ways:
1) Cash from things like the scheme to rename the Elliot stand to the legend stand
2) Money from the relocation
3) Getting the AFL's handout early each year

But essentially, since day one the new board has had more expenses than revenue, hence the cashflow problem. The board has attempted to deal with this by cutting costs, but our poor performance has led to poor gate receipts, etc.

The criticism of the new board stems largely from the perception (one that I believe) that not enough has been done to grow revenue over the past 4 years, that the board and executive of the club hasn't been proactive or creative enough.

So essentially the cashflow problem is that we are spending more than we are earning and hence continue to go backwards. At various points in time we have had promises of a '3 year plan' to turn things around, but as the club is already budgeting for a loss next year I think that things certainly haven't gone to the original plan.

Hopefully that's reasonably balanced view of where we are at given the information publically available.