Port faces 2Mil loss. What the?

[Rod Stroker]

Record membership, new stadium, sold out games, bottom third in the comp for football spending,3 points shy of a GF appearance, and they're 2Mil in the hole. Staggering.

http://www.theage.com.au/afl/afl-news/port-adelaide-faces-2-million-loss-20141112-11lc5m.html

 

[*PAF]

Plus bottom third in off field spending.

 

[TheFVK]

This shouldn't be news to anyone- same s**t stadium deal just in a different location, plus another mouth at the trough (SMA with the SANFL now)

2013

Port Membership 41K
Port Average Crowds 31K
Port lose $1.7M

Crows Membership 46K
Crows Average Crowds 33K
Crows lose $2M

2014

Port Membership 55K
Port Average Crowds 44K (#4 in AFL)
Port lose $2M


Crows Membership 57K
Crows Average Crowds 48K (#2 in AFL)
Crows breakeven

link​

In a financial result that appears an indictment on the agreement struck at the Adelaide Oval with the heavy involvement of the AFL, the South Australian government and the SANFL, Port's on-field rags-to-riches story will soon be revealed as far from that in an off-field sense.

While Port Adelaide chief executive Keith Thomas said he was confident the lengthy review into the new stadium's match-day results would deliver a better outcome for his club, he stressed it could not hope to be successful on the current model.

"The numbers are crystal clear and compelling," he said. "If we can't make a profit in these conditions, then how can we ever be profitable?" Thomas would not elaborate on the exact nature of Port's projected loss which comes off the back of a $2.5 loss the previous year.​

 

[RodneyMaynard]

id love to see a transparent map of where exactly (and to whom) the money from a crowd of 50k people goes, because evidently the club the people are actually paying money to see get SFA of it.

 

[im_a_lazy_sod]

I blame the Adelaide Oval deal

 

[Jaeger]

Terrible. They should have made the biggest profit in their entire history this year.

 

[FootyJunkie]

rattl' those tins

 

[WCErevival]

Kochie will sort it out

 

[El_Scorcho]

We've been bleating about it for years. You can't survive as a football club when your main business of actually charging people to come and watch you play football games costs you so much money. If we're losing money now, what happens in a few years when we drop back down the ladder?

The Crows should be alongside West Coast and Collingwood as financial juggernauts, not hovering around breakeven.

The SANFL obviously need to run suburban and junior football in this state, but they take the lions share of the profit from our games without taking on any of the risk. The SANFL get paid either way, and as such have no incentive to improve how they do business. Meanwhile the SA AFL clubs struggle despite record crowds and membership at a shiny new oval.

I'm sure if we get into enough trouble we'll be "bailed out" to ensure that we survive and the SANFL can continue to chow down like pigs at a trough on money they have no hand in generating.

 

[SgtSchulz]

 

[Nutsngum]

Kochie will sort it out

I still remember he and his wife's brilliant advice to struggling families to "give up that second car" because obviously two vehicles is a frivolous expenditure and not required as both work full time or might actually need it.

So what im saying is that the players might have to each give up those free Rolls Royces theyre given every year. Tighten the old belt ya know.

 

[Bard]

This shouldn't be news to anyone- same s**t stadium deal just in a different location, plus another mouth at the trough (SMA with the SANFL now)

2013

Port Membership 41K
Port Average Crowds 31K
Port lose $1.7M

Crows Membership 46K
Crows Average Crowds 33K
Crows lose $2M

2014

Port Membership 55K
Port Average Crowds 44K (#4 in AFL)
Port lose $2M


Crows Membership 57K
Crows Average Crowds 48K (#2 in AFL)
Crows breakeven

link​

In a financial result that appears an indictment on the agreement struck at the Adelaide Oval with the heavy involvement of the AFL, the South Australian government and the SANFL, Port's on-field rags-to-riches story will soon be revealed as far from that in an off-field sense.

While Port Adelaide chief executive Keith Thomas said he was confident the lengthy review into the new stadium's match-day results would deliver a better outcome for his club, he stressed it could not hope to be successful on the current model.

"The numbers are crystal clear and compelling," he said. "If we can't make a profit in these conditions, then how can we ever be profitable?" Thomas would not elaborate on the exact nature of Port's projected loss which comes off the back of a $2.5 loss the previous year.​

That disgusts me. Something needs to be done about that s**t.

 

[bombersfan4000]

Kochie will sort it out

Kochie set the deal up

 

[craffles]

We've been bleating about it for years. You can't survive as a football club when your main business of actually charging people to come and watch you play football games costs you so much money. If we're losing money now, what happens in a few years when we drop back down the ladder?

The Crows should be alongside West Coast and Collingwood as financial juggernauts, not hovering around breakeven.

The SANFL obviously need to run suburban and junior football in this state, but they take the lions share of the profit from our games without taking on any of the risk. The SANFL get paid either way, and as such have no incentive to improve how they do business. Meanwhile the SA AFL clubs struggle despite record crowds and membership at a shiny new oval.

I'm sure if we get into enough trouble we'll be "bailed out" to ensure that we survive and the SANFL can continue to chow down like pigs at a trough on money they have no hand in generating.

Football in SA is in the best shape it has been in years and neither club are turning a profit, It's an absolute outrage. Fingers crossed for the good of our national competition the stadium deal gets resolved and both Port & Adelaide can reap the financial reward of how strong their clubs are becoming on & off field.

It doesn't look likely though with both clubs coughing up $800k for fans public transport next year...

 

[Belnakor]

Maybe would need to see the financial report but where is all the money going? Who is making out like bandits? The sanfl?

Finances should be
Freo = port
West coast = Adelaide. The crowds are in the same ball park but instead of making 3m a year they make negative 2m??? What the?

 

[John Dough]

Imagine how much money the Power would be making if they had Geelong's stadium deal

 

[rdhopkins2]

Did we learn nothing from Docklands?
Seems so.

 

[Portia]

Did we learn nothing from Docklands?
Seems so.

The issues with SANFL gravy training off stadium deals for both AFL clubs has existed since before Docklands started construction.

 

[Rankor]

That disgusts me. Something needs to be done about that s**t.

Let's pray your Eddie kicks up a stink when Port receive equalisation money from you guys.

 

[Augustine]

I need to know, who is taking all the money!?!?! If its the SANFL, what the hell are they spending it on?

Honestly, my priority if I was made AFL CEO tomorrow would be sorting out rubbish stadium deals.

 

[kelman]

Are we going to see all the 'too many teams in Vic to be viable" posters from WA coming in here suggesting relocation of one of these teams to Tassie?

The stadium deals cripple clubs. I can't believe Adelaide and port were not able to work this out prior to agreeing, but still, fix it.

 

[bombersfan4000]

Are we going to see all the 'too many teams in Vic to be viable" posters from WA coming in here suggesting relocation of one of these teams to Tassie?

The stadium deals cripple clubs. I can't believe Adelaide and port were not able to work this out prior to agreeing, but still, fix it.

That's what I don't get! Did the power & crows not read the contract before signing the deal.

The same can be said for North Melbourne & Western Bulldogs at Etihad

 

[Kwality]

Are we going to see all the 'too many teams in Vic to be viable" posters from WA coming in here suggesting relocation of one of these teams to Tassie?

The stadium deals cripple clubs. I can't believe Adelaide and port were not able to work this out prior to agreeing, but still, fix it.

Is that an acknowledgement of too many teams in Melbourne, too much footy? No way should a club be relocated, it should go the way of Fitzroy, hand me downs will never work.

Where was the AFL is the Adelaide fiasco, front & centre as in the fiasco at Etihad ...

 

[TooFar]

Can the next Power fan to blame the SANFL for their financial problem please provide the facts and evidence to back up the claim?

Show us where all the money is going.

 

[banjomal]

Is this a genuine figure or just a fluffy leaked figure to influence the never-ending review that's underway?