How come nobody has spoken about this business that Carlton has set up. Anyone know anything about it.

Is there going to be a specific office this business is being operated from, and how much income this will hopefully generate for the club.

I know there is heaps of money in mortgage broking, they just need to advertise well as there is a lot of competition out there.

Premier Finance was only just announced Fevola.

http://carltonfc.com.au/Season2007/News ... wsId=54385

Great initiative by the Club.

I hope it is a great success for them.

Sounds great, I am loving the momentum this club is building up. If we Start to have onfield success it will be MASSIVE!

The name is as good as it gets.....

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i hear that KB is in the box seat for the first loan!








that gag will never get old!

nor will your avatar

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"I had to eat"

Premier has been the result of many months' hard work. Part of the role of the new board has been to establish new revenue streams to compliment existing football revenue and continue the rise of the phoenix that is Carlton. We decided to first select the "right" loan writer. Steve Starling is a true blue who has been among the most successful loan writers for ANZ for many years. He is the sort of bloke anyone would feel comfortable with and will provide the best service possible. He had the opportunity to go into business for himself but thought the opportunity of working for the Club whilst building a successful business, was too great to pass up.

After selecting Steve, we put the structure together and have had to obtain various accreditations that need to be obtained and pass through red tape before we can write business.

We chose the name Premier as it has significance for our club but is also subtle enough to enable us to sell our services to customers who may not be CFC supporters. Apart from Steve's commissions, all revenue goes to the Club which is the 100% owner. If Steve can demonstrate success, which I am confident he can, then there is scope for others to join and also it creates the opportunity to provide the playing list with the chance to explore a career in the finance industry.

I am hopeful that a successful Premier will deliver net revenue to the Club in the $100,000's over the years and this will grow as the book of loans grows, hopefully, to something of significance.

Steve's contact details are listed on the announcement on the website. Please promote this service to your friends and colleagues.

Cheers

Stephen M

That's great Stephen, thanks for the update. Really pleasing to see an example of the club looking to provide possibilities for players' post footy careers as well.

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It's good to see initiatives but isn't this the wrong time to be dipping our toe into the mortgage market? We are in the early throes of a market melt down in the US (which started in August) due to the sub-prime market and liquidity in the market is very tght.

I would like to know what our exposure is (financially) if it goe off the rails?

The US sub-prime melt down has affected non bank lenders who obtain funds through securitisation arrangements. This has meant the cost of wholesale funds to businesses like RAMS, Wizard, Aussie etc has increased. These businesses are known as "mortgage managers" and represent approx. 15% of the mortgage market. Most of the banks obtain their funds through deposit moneys and are not exposed to securitised arrangements. 80% of all home loans are sourced through banks and approximately 45% of all home loans are procured through mortgage brokers. Brokers have no exposure to loans. They simply receive up front commissions and trailing commissions. If a loan goes into default, trailing commissions cease. There is no other exposure. Accordingly, Premier is a low risk business. Our Mortgage Specialist, Steve Starling, is being remunerated on a commission basis. If he writes no loans, he doesn't get paid.

I'm very glad to see the club setting up non football revenue avenues.
Thanks Stephen M for taking the time to explain it in more detail for us. Much appreciated

Steve Starling - sounds like a porn star!

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"I had to eat"

I reckon chop sticks would be a great business idea



(if you are under the age of 30 you may struggle with this one)

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Does this new business have its own website?

There seems to be a few websites/businesses with the name Premier Finance already and I have had a look at their sites and it doesn't appear to be our Premier Finance. It wouldn't be good if Carlton people were using these businesses and thinking they were help the CFC.

Would be good if this business could one day offer High Interest Accounts, Term Deposits, Superanuation Products, Pensions, Managed Investment Schemes, Life Insurance etc. We all could use this business for all our needs and at the same time support the Blues.

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Delulio is a member of TISM

Sounds like a guy who used to be on a fishing show on TV???

Its just a front, we are pushing hard drugs.
Fevola is debt collecting.