2014 Financial Report

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To add to the two previously, we went substantially into debt for the last development and while it's definitely been a benefit to the club we're still paying off that debt plus added debt incurred through our football operations. It's a difficult situation to manage, but I suspect there's some expectation that we would lower that debt before seeking to take more on.
 
Fair points - I wasn't specifically talking about pokies, more like a pub / tavern / social club environment. Does this mean then that the pokies are the only thing that's keeping the Logan club afloat?
 
Back2Back2Back said:
Fair points - I wasn't specifically talking about pokies, more like a pub / tavern / social club environment. Does this mean then that the pokies are the only thing that's keeping the Logan club afloat?
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I would say largely yes. Not much difference from any major club in queensland, majority of profits come from pokies as the other services (food, drink) are priced to get people in the door and hopefully spending money on the pokies.

From memory at the last agm it was mentioned that we had a large number of pokie licences that we were granted but haven't used yet and that we would be looking for commercial arrangements with existing third party venues to utilise those in a possible profit sharing model. Haven't heard anything about that since then though.
 

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Back2Back2Back said:
Fair points - I wasn't specifically talking about pokies, more like a pub / tavern / social club environment. Does this mean then that the pokies are the only thing that's keeping the Logan club afloat?
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Most clubs F & B are sold at low margins/operating losses to draw in people to spend on the one-armed bandits.
 
Caiphus said:
Most clubs F & B are sold at low margins/operating losses to draw in people to spend on the one-armed bandits."
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Funny, down here drinks and meals at pubs cost an arm and a leg at pokies pubs. Matter of fact they seem to go out of their way to make the food experience as dear and mean as possible. it's all about making money. That's why that Matthison is almost a billionaire.
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If it bleeds said:
The discussion this morning about us on sen- kb and Jon Ralph.
Jon Ralph apparently talked to Greg swan this week and looks like we are on the path to break even this year.
A small step I know but non the less Is a positive one.
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That's interesting. Next year will be tougher again if we can't get more competitive on the field.

Probably an indictment on the previous management as well.
 
I think Swanny got all the bad stuff off the books last year. A lot of write offs and depreciation. Not a bad idea to get it all out the way while the memory of the previous administration is still fresh.

Springwood should start paying dividends soon too. If the QE2 deal includes significantly less rent that the ridiculous Gabba deal, we might start to look viable financially year on year.
 
And then start using the threat of playing games at QE2 to leverage a better Gabba game-day deal. Eff you Stadiums Qld.
 
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TheBrownDog said:
I think Swanny got all the bad stuff off the books last year. A lot of write offs and depreciation. Not a bad idea to get it all out the way while the memory of the previous administration is still fresh.

Springwood should start paying dividends soon too. If the QE2 deal includes significantly less rent that the ridiculous Gabba deal, we might start to look viable financially year on year.
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The QEII is definitely training *and* admin not just training yes?
 
If it bleeds said:
The discussion this morning about us on sen- kb and Jon Ralph.
Jon Ralph apparently talked to Greg swan this week and looks like we are on the path to break even this year.
A small step I know but non the less Is a positive one.
Click to expand...
That's a pretty good turnaround, especially for a non-vic club that's not performing on the field. But does he mean this year as in FY14-15 or 15-16?
 

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Tairy Greene said:
And then start using the threat of playing games at QE2 to leverage a better Gabba game-day deal. Eff you Stadiums Qld.
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I'm unsure whether you're being sarcastic or genuinely don't know that QE2 is also managed by stadiums qld. I'm leaning toward the former.
 
If it bleeds said:
The discussion this morning about us on sen- kb and Jon Ralph.
Jon Ralph apparently talked to Greg swan this week and looks like we are on the path to break even this year.
A small step I know but non the less Is a positive one.
Click to expand...
That article from Ralph last night going in to bat for a PP for us had Swann's fingerprints all over it. Nice one Swanny.
 
Fatcat08 said:
I'm unsure whether you're being sarcastic or genuinely don't know that QE2 is also managed by stadiums qld. I'm leaning toward the former.
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I think you're mistaken, they manage QSAC not QE2.
 
Alan Smithee said:
I hate to be the one to tell you this but QSAC is QE2... unless you are being sarcastic
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sarcasm warning... or is that parody?
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If it bleeds said:
The discussion this morning about us on sen- kb and Jon Ralph.
Jon Ralph apparently talked to Greg swan this week and looks like we are on the path to break even this year.
A small step I know but non the less Is a positive one.
Click to expand...

That is a massive positive considering on field performance and crowd numbers.
 
CarterS said:
That is a massive positive considering on field performance and crowd numbers.
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Helps sell the story to the League too. "We are getting our house in order off-field, but now we need assistance/compensation to get back to level pegging on field."
 
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