News And Now To Financial News...

[Tonga Bob]

$2.43M profit in 2022

Fremantle post $2.43m profit

The Fremantle Football Club has posted a 2022 operating profit of $2.43m, which compares to a profit of $1.55m for 2021.

www.fremantlefc.com.au

 

[Ge3ks]

Good job FFC. We should expect it to go up again in 2023. Great time to be a supporter if you aren't already.

 

[Purple Suit]

I'm interested if the 2.25m royalty payment to WAFC is before or after the 2.43m profit?

Edit - I'm assuming before, the Dirty Birds posted a 3.46m profit so I think we have done extremely well considering we don't sell out our stadium even if the other mob cannot fill theirs.

 

[Tonga Bob]

I'm interested if the 2.25m royalty payment to WAFC is before or after the 2.43m profit?

Edit - I'm assuming before, the Dirty Birds posted a 3.46m profit so I think we have done extremely well considering we don't sell out our stadium even if the other mob cannot fill theirs.

Would be after I reckon.

 

[Tonga Bob]

Welcome back to Finance News, I'm Tonga Bob.

The AFL have just released their figures for player payments, with a record fourteen (14) players earning over a million dollars in 2022. In fact, there were more people who earned over $1M than those that earned $100K or less (11 players). And how ripped off would you feel being the only player to earn less than $60K in 2022, and that the AFL decided to have that bracket in their figures to single you out specifically? Financial sh*thousery, hook it to my veins!

Million-dollar dozen: Stars cash in, player pay hits new high

A record 12 players were paid at least $1 million for the 2022 season

www.afl.com.au

Here's Tom with the weather.

 

[Snuffaluphagus]

Can we access the financial report yet?

 

[Van_Dyke]

Can we access the financial report yet?

couldn’t spot it on the website yet

 

[Tonga Bob]

Welcome back once again to Finance News, I'm BigFooty's Tonga Bob.

The AFL's Executive General Manager Customer and Commercial Kylie Rogers has announced today that ticket prices for AFL games at the MCG & Docklands Telstra Etihad Marvel Stadium will be frozen to 2019-2022 prices.

"More than 6.1 million fans attended a game last season, one of our best seasons on record both on and off the field, and with the 2023 season 30 days away, the momentum is very quickly building," Rogers said.

"The price freeze and family ticket are part of our commitment to fans in keeping footy prices as affordable and accessible as possible and thanking members and fans who continue to stick by their clubs, as cost-of-living pressures are very much front of mind for every household. We would especially like to thank members and fans in other states for propping up the competition financially."

"We are really aware of the challenges everyone is facing; this is the fifth year in a row we have frozen GA prices – it is an important part of continuing to make the game as accessible as possible for fans in Melbourne. The rest of the country of course can go f*ck themselves."

"In driving key commercial outcomes, it allows us to keep AFL matches for Melburnians affordable and accessible while also working with another of our key priorities to ensure our game is affordable and accessible at community level, where young Victorian boys and girls can play footy."

Price freeze on general admission tickets at MCG and Marvel Stadium

The AFL has also announced the return of family tickets

www.afl.com.au

More news at 11.

 

[Snuffaluphagus]

Full financial report available

https://resources.fremantlefc.com.au/aflc-fre/document/2023/02/15/4b1cc6d5-5b51-4a8d-95e2-2173873e7c29/2022-FFC-FINANCIAL-REPORT.pdf

 

[Purple Suit]

Would be after I reckon.

Yep, so add on the royalty and we made 4.68m for 2022. Not bad.

 

[Nodgey]

As 'shareholders' in the FFC, will us members receive dividends via reduced membership fees this and/or next season?

 

[Purple Suit]

As 'shareholders' in the FFC, will us members receive dividends via reduced membership fees this and/or next season?

Nah, our dividend will be paid in September.

 

[greatgatsby]

Nah, our dividend will be paid in September.

This. The club should continue to invest in facilities and in attracting and retaining the best players.

 

[Snuffaluphagus]

Questions I'd have
A) Why are functions and special events such a big loss (800k)? Are these meant to make up revenue elsewhere?
B) Why is there so many dodgy shits (or one big debtor) not paying whatever they owe the club? 364k doubtful debts on 1.8m receivable is very high

C) How did they get EY to decrease their audit fees in the year, and which grad did they get to do the addcheck because the note is wrong...

 

[ubiquitous226]

Welcome back once again to Finance News, I'm BigFooty's Tonga Bob.

The AFL's Executive General Manager Customer and Commercial Kylie Rogers has announced today that ticket prices for AFL games at the MCG & Docklands Telstra Etihad Marvel Stadium will be frozen to 2019-2022 prices.

"More than 6.1 million fans attended a game last season, one of our best seasons on record both on and off the field, and with the 2023 season 30 days away, the momentum is very quickly building," Rogers said.

"The price freeze and family ticket are part of our commitment to fans in keeping footy prices as affordable and accessible as possible and thanking members and fans who continue to stick by their clubs, as cost-of-living pressures are very much front of mind for every household. We would especially like to thank members and fans in other states for propping up the competition financially."

"We are really aware of the challenges everyone is facing; this is the fifth year in a row we have frozen GA prices – it is an important part of continuing to make the game as accessible as possible for fans in Melbourne. The rest of the country of course can go f*ck themselves."

"In driving key commercial outcomes, it allows us to keep AFL matches for Melburnians affordable and accessible while also working with another of our key priorities to ensure our game is affordable and accessible at community level, where young Victorian boys and girls can play footy."

Price freeze on general admission tickets at MCG and Marvel Stadium

The AFL has also announced the return of family tickets

www.afl.com.au

More news at 11.

Great work should not go unrecognised.

 

[Joose]

The club seems to be in good hands.. on and off the field.

I still have nightmares of the latter Lyon/Rosich years.

 

[Purple Jesus]

Questions I'd have
A) Why are functions and special events such a big loss (800k)? Are these meant to make up revenue elsewhere?
B) Why is there so many dodgy shits (or one big debtor) not paying whatever they owe the club? 364k doubtful debts on 1.8m receivable is very high
View attachment 1607864
C) How did they get EY to decrease their audit fees in the year, and which grad did they get to do the addcheck because the note is wrong...View attachment 1607862

Found the accountant

 

[greatgatsby]

Questions I'd have
A) Why are functions and special events such a big loss (800k)? Are these meant to make up revenue elsewhere?
B) Why is there so many dodgy shits (or one big debtor) not paying whatever they owe the club? 364k doubtful debts on 1.8m receivable is very high
View attachment 1607864
C) How did they get EY to decrease their audit fees in the year, and which grad did they get to do the addcheck because the note is wrong...View attachment 1607862

Haha - a bit worrying that it's not a grab from a spreadsheet! I suspect your questions at C) may be linked. The EY fees for the annual financial report are probably the wrong way around, and the subsequent EY totals should be about 74K (2021) and about 78.6K (2022), approximately a 6% increase year on year, which is about where we're at inflation-wise.

A) and B) are good questions that you would hope the Board are all over.

 

[Snuffaluphagus]

Haha - a bit worrying that it's not a grab from a spreadsheet! I suspect your questions at C) may be linked. The EY fees for the annual financial report are probably the wrong way around, and the subsequent EY totals should be about 74K (2021) and about 78.6K (2022), approximately a 6% increase year on year, which is about where we're at inflation-wise.

A) and B) are good questions that you would hope the Board are all over.

Yeah, that note is egregiously wrong (for financials) because audit firms jacked up prices a shitload in the year, there is no way EY decreased their fees. Could find out easy enough by looking at least years but I mainly just wanted to dump on EY for doing a shitty job checking them

 

[Purple Jesus]

Yeah, that note is egregiously wrong (for financials) because audit firms jacked up prices a shitload in the year, there is no way EY decreased their fees. Could find out easy enough by looking at least years but I mainly just wanted to dump on EY for doing a shitty job checking them

Found the PwC accountant

 

[Van_Dyke]

Questions I'd have
A) Why are functions and special events such a big loss (800k)? Are these meant to make up revenue elsewhere?
B) Why is there so many dodgy shits (or one big debtor) not paying whatever they owe the club? 364k doubtful debts on 1.8m receivable is very high
View attachment 1607864
C) How did they get EY to decrease their audit fees in the year, and which grad did they get to do the addcheck because the note is wrong...View attachment 1607862

with B - didn’t we have a sponsor go into receivership? also wonder what our crypto.com sponsorship is looking like

 

[Snuffaluphagus]

with B - didn’t we have a sponsor go into receivership? also wonder what our crypto.com sponsorship is looking like

Yeah, almost definitely a big sponsor making up the majority of that amount

 

[mattis117]

with B - didn’t we have a sponsor go into receivership? also wonder what our crypto.com sponsorship is looking like

Yes, Boomer.

 

[Taylor]

D'Loitious

Looks like we sit about four years away at this rate from being completely debt free.

 

[Snuffaluphagus]

D'Loitious

Looks like we sit about four years away at this rate from being completely debt free.

What am I missing, what debt do we have? The contract liability looks like it's a funding arrangement with Curtin, the provisions are just annual and long service leave and AP is AP