AFL Clubs 2012 Annual Reports

[RussellEbertHandball]

Found the AFL annual report yet? They aren't giving copies out anymore and still not up on the website.

I wonder if they are rewriting their drug policy page compared to 2011's 2 lines about the PED results?

 

[The_Wookie]

Found the AFL annual report yet? They aren't giving copies out anymore and still not up on the website.

I wonder if they are rewriting their drug policy page compared to 2011's 2 lines about the PED results?

According to the lady I just spoke to, its about another week away.

 

[Kwality]

Melbourne Football Club : rumoured to be looking at a $3m loss, so I went for peek at their 2012 Balance Sheet, cant find it, yeh it might be me, best I could find is a Statement of Financial Position at October 31, 2012.
Total Current Assets $2.2m
Total Current Liabilities $6.7 m

Are they in a position to incur a $3m loss?

The AFL have guarantees of $1.77 mil, or they did last October.

Compensation for key personnel was included in the Notes at $2.5m - Schwabby would have raided this provision, very current cost.

Doesnt look good to me.

 

[Kwality]

What did the Auditors think, they relied on the Directors, the Directors said:

22. Economic Dependence
The Melbourne Football Club Limited is economically dependent on the ongoing support of the Australian

Football League through receipt of distributions and dividends.

 

[The_Wookie]

What did the Auditors think, they relied on the Directors, the Directors said:

22. Economic Dependence
The Melbourne Football Club Limited is economically dependent on the ongoing support of the Australian

Football League through receipt of distributions and dividends.

They are far from alone in that boat. Most clubs are reported the same ways by their auditors.

 

[Kwality]

They are far from alone in that boat. Most clubs are reported the same ways by their auditors.

Quite so, the relevance is the deficit in current assets/liabities ( $4.5 mil), a loss of a further $3mil covered by an AFL guarantee of $1.77 mil. In the red I believe its called, who pays?

I've accepted claims of Melbourne fans on face value, the debt demolition, rock around the rhubarb tree, more fool me !

 

[The_Wookie]

the only reason they got a positive on assets was the merger with the Bentleigh club last financial year. Melbourne have been asset poor for a long time.

 

[Kwality]

the only reason they got a positive on assets was the merger with the Bentleigh club last financial year. Melbourne have been asset poor for a long time.

2012 figures suggest $4.5 mil in deficit on their current position - yes/no?

Pump in $3m loss, how do they pay their bills - yes/no? $7.5 mil in the red, is 1 + 1 still =2 ?

$7.5 mil in the red day to day, yes/no ? IF yes, who is funding the deficit?

 

[telsor]

Do you understand the difference between current and non-current assets/liabilities?

A deficit in the current area is a concern, but its not everything.

 

[Kwality]

When your current liabilities (due by Oct 2013) exceed your current assets, you arent looking flash - to then drop $3mil in the current period means you are short of the readies - the line of credit isnt going to fix things.
The fixed assets might support a loan but it doesnt appear there is the cash flow to pay it back. Could sell fixed assets (?) maybe poker machines.

 

[Kwality]

West Coast Eagles post a mid year profit :

West Coast's operating company Indian Pacific has already booked a $1.56 million profit for the half-year to April 30 and financial chief Richard Godfrey has tipped it will beat the 2011-12 full-year profit of $3.32 million.
"We're well on track with our budget this year," he said.

http://au.news.yahoo.com/thewest/business/a/-/wa/18360980/eagles-soaring-off-field-at-least/