Toast Pies post $3.4 million profit

[MyManLynch]

what is our lease on the glasshouse does anyone know?, Are we looking to buy it out right in the future?

Isn't it State land?, we cannot purchase only lease.
Not sure the length of our current lease...but I thought it was a 25 years lease (signed when?).
Sorry, not much help.

 

[Baltimore Jack]

what is our lease on the glasshouse does anyone know?, Are we looking to buy it out right in the future?

I believe it was initially for 99 years at 'peppercorn' rates

 

[Scodog10]

Someone always says this like the two are mutually exclusive. I don't get it.

I think we would all prefer flags, but achieving a profit doesn't stop us from doing so.

I've outlined a practical example of how profits reinvested into the football department provides a tangible impact which then creates further wealth due to a spike in performance.

Therefore I'm well aware of how the two interact and of course achieving profits doesn't prevent us from our ultimate goal, but reducing them in order to beef up the football department clearly does, IMO...

 

[MagpieJoel]

I've outlined a practical example of how profits reinvested into the football department provides a tangible impact which then creates further wealth due to a spike in performance.

Therefore I'm well aware of how the two interact and of course achieving profits doesn't prevent us from our ultimate goal, but reducing them in order to beef up the football department clearly does, IMO...

It has been stated multiple times in the past 12 months that football department spending has been reduced in order to reduce our equalisation tax - we have cut back on spending that was not required. You don't spend for the sake of spending. If there is a need in our football department then they will provide for that.

Do you have any suggestions as to what needs to be beefed up in the football department?

 

[MyManLynch]

It has been stated multiple times in the past 12 months that football department spending has been reduced in order to reduce our equalisation tax - we have cut back on spending that was not required. You don't spend for the sake of spending. If there is a need in our football department then they will provide for that.

Do you have any suggestions as to what needs to be beefed up in the football department?

Ruck coach?

 

[MagpieJoel]

Ruck coach?

Potentially. Do many other clubs have ruck coaches?

 

[Brad Goodman]

I've outlined a practical example of how profits reinvested into the football department provides a tangible impact which then creates further wealth due to a spike in performance.

Therefore I'm well aware of how the two interact and of course achieving profits doesn't prevent us from our ultimate goal, but reducing them in order to beef up the football department clearly does, IMO...

I don't think our aim is to just stockpile cash.

 

[MyManLynch]

Potentially. Do many other clubs have ruck coaches?

Hawthorn do...Monkhurst.
Not sure about others.
We have 2 young rucks plus a Cat B developing ruck, so a ruck coach surely would help.

 

[bombersfan4000]

Couldn't see a thread for this. The above is taken from the AFL site's draft blog.

Good to see off field management continuing to be strong.

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

 

[jmac70]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

Bet you wish he was in charge of your s**t stain of a club.

 

[WalterBlaknWhte]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

EDIT: read Baltimore Jack's and Vicky Park's posts instead

​

Any opinion on the cost to taxpayer that the various regulatory and judicial enquiries into Essendon's pharma-debacle have cost?
And God forbid they translate to further health costs.
Careful you don't fall off that high horse...

 

[Baltimore Jack]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

Sook....and don't do drugs, ok?

 

[TW Sherrin]

Would Mick be invited back to run the Death Star?

Surely we wouldn't be so silly....

 

[Scodog10]

It has been stated multiple times in the past 12 months that football department spending has been reduced in order to reduce our equalisation tax - we have cut back on spending that was not required. You don't spend for the sake of spending. If there is a need in our football department then they will provide for that.

Do you have any suggestions as to what needs to be beefed up in the football department?

The last element is exactly my point. I'd rather a premiership or strong season and lesser financial result (which completely contradicts my mindset as an accountant).

I'll put a real life example together. Let's take $1 million off the top of that financial result and invest it into employing the leagues best rehab team. This then allows us to get Reid on the park v Hawthorn, Fremantle, the Bulldogs and Port 4 extra wins v $1 million extra in the bank. It may have helped us retain Freeman as well...

As was pointed out earlier with an American and two guys U23 a ruck coach might also be valuable.

The tax itself is minimal anyway compared to the potential benefits, IMO.

I don't think our aim is to just stockpile cash.

Neither do I. My assumption is that in the not too distant future we'll announce a Hawthornesque land purchase and my take is that the sorts of profits of the past two years are in no man's land for such a move.

For instance as a financially sturdy sporting organisation, IMO, unless we are posting $5 million plus profits which are then put towards acquiring major assets we're better off breaking even by funnelling as much as possible through the FD.

As it is everyone will have their own opinions on this and mine seems to have generated a bit of a discussion, but I might take my leave from here.

 

[Lefthanded]

Ruck coach?

I thought Rocca & Rendell were covering this? Whilst I don't have much faith in Rocca given he was primarily a forward, Rendell's profile (https://en.wikipedia.org/wiki/Matt_Rendell) suggests he's at least adequate. Moore's performance as a 2nd ruck, at his age and lack of size suggests that his Dad may have been a better outcome but CFC reportedly tried that and didn't go ahead due to salary cap implications.

 

[TW Sherrin]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

Bombers would make a profit if they went a Betty Ford and got off the junk.

 

[Vicky Park]

Isn't it State land?, we cannot purchase only lease.
Not sure the length of our current lease...but I thought it was a 25 years lease (signed when?).
Sorry, not much help.

Yep, its on Crown land, in fact on part of the public land reserve managed by the Melbourne & Olympic Parks Trust. At least it was last time I looked. We'd have a long term leasing arrangement.

 

[Vicky Park]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

http://www.essendonfc.com.au/news/2011-05-12/essendon-facility-at-melbourne-airport

Quote:

The Melbourne Airport Project is a critical project to deliver a generational change for the Club and provide our players with the best training environment. The Club has a comprehensive fundraising strategy to ensure the success of the project, which will see a large part of the funding provided by the Federal and State governments and the AFL. Essendon Football Club is planning to seek some help from our members and supporters, but we are not expecting our members to pay for the balance of the project cost.

Read more here:

http://www.essendonfc.com.au/news/2011-05-12/essendon-facility-at-melbourne-airport

Some taxpayer contributions and 'government handouts' right there, I'd say.

 

[Pie eyed]

Couldn't see a thread for this. The above is taken from the AFL site's draft blog.

Good to see off field management continuing to be strong.

Rather than "Together we are Collingwood" we should have the new tagline....

"Not Carlton-Phew!"

 

[MagpieJoel]

Hawthorn do...Monkhurst.
Not sure about others.
We have 2 young rucks plus a Cat B developing ruck, so a ruck coach surely would help.

Maybe, but a part time ruck cost is probably going to cost $150k?

Any ideas for the remaining amount?

I just feel that people like to complain no matter what occurs.

 

[MagpieJoel]

reaming the taxpayer to pay for the westpac center, revenue that contains government handouts

You dill.

Take a look at your own books before talking about ours.

 

[MyManLynch]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

We make a profit on our own two feet & will be pouring in millions into the Holden centre of our own money (along with Government grants to provide a public facility).
How's your P & L going...& your grants for your airport hangar.

 

[Anzacday]

http://www.essendonfc.com.au/news/2011-05-12/essendon-facility-at-melbourne-airport

Quote:

The Melbourne Airport Project is a critical project to deliver a generational change for the Club and provide our players with the best training environment. The Club has a comprehensive fundraising strategy to ensure the success of the project, which will see a large part of the funding provided by the Federal and State governments and the AFL. Essendon Football Club is planning to seek some help from our members and supporters, but we are not expecting our members to pay for the balance of the project cost.

Read more here:

http://www.essendonfc.com.au/news/2011-05-12/essendon-facility-at-melbourne-airport

Some taxpayer contributions and 'government handouts' right there, I'd say.

Come on VP that's not fair.
He thought he was posting safe in the knowledge we couldn't counter him, remembering we're all unedumacated.

 

[Lord of the Pies]

First you get the Money. Then you get the Power. Then you get the Premiership

 

[76woodenspooners]

yep great off field management, reaming the taxpayer to pay for the westpac center, revenue that contains government handouts & eddie using his media outlets for under the table deals, then cries foul at any other club that does something similar!
proof? go and read the eddie maguire book

I want to express my deepest gratitude to you, being a taxpayer, for helping to fund the new Glasshouse facility.

It is a beautiful facility, you must be very proud