Western Bulldogs still owed $390,000 from sponsor

[Aquamarinejewel]

Here are a few paragraphs from the article, click the link to read more....

Western Bulldogs still owed $390,000 from sponsor
The Herald Sun
Mark Stevens | December 20, 2008

THE global financial crisis has hit the Western Bulldogs, delivering a savage cut of almost $400,000 to the club's bottom line.

Struggling shorts sponsor Ezybonds still owes the Bulldogs $390,000 and there is no guarantee the bill will be paid.

The Bulldogs' auditors have listed the outstanding money as a doubtful debt in the club's balance sheet.

It robbed the Dogs of a $1 million-plus profit, forcing them to settle for the $640,000 announced at Thursday night's annual general meeting.

Although the club has not given up hope of netting some of the owed money to boost next year's balance sheet, any further payment would be viewed as a bonus.

Ezybonds was also contracted to provide about $500,000 in sponsorship for next year, but has been forced to walk away from the arrangement because of financial pressures.

 

[Mingo]

It's a real shame but not much can be done it seems. As long as it's not us that's not able to pay up on our responsiblities.

 

[comrade]

Surely they're tied by contract and HAVE to pay the money?

If they can't pay money owed, how can they continue to operate as a business? Surely there wasn't a get out clause in case of global financial crisis.

Honestly, we can't take a trick when it comes to cash flow matters. Hawthorn, Carlton, Essendon etc with their bandwagon supporters and in turn their corporate backing, can get stuffed.

 

[Borgsta]

Damn so no major sponsor and no short sponsor now.

Going to be a very very tough 2009.

 

[BenF]

In a way, its good news because it means we still netted a $600k+ profit, without money from a sponsor.

 

[Bojangles17]

In a way, its good news because it means we still netted a $600k+ profit, without money from a sponsor.

not sure about good news, now means you need to secure two key sponsors..Bloody bad luck, we too have had our share , all the best

 

[greenred]

In a way, its good news because it means we still netted a $600k+ profit, without money from a sponsor.

Not when you take into consideration the $1.7m payment from the AFL - that's actually a $1.1m loss that the club is making.

 

[OldSchool]

Not when you take into consideration the $1.7m payment from the AFL - that's actually a $1.1m loss that the club is making.

The two are not really linked. The payment from the AFL is because of things like the game scheduling imbalance we have to accept.

 

[dogs4lyf]

to read that has made me very angry and upset...
to see my dogs get jibbed out of 400k almost heart breaking

 

[paul scholes]

Not when you take into consideration the $1.7m payment from the AFL - that's actually a $1.1m loss that the club is making.

Yes unlisted tell us all is fair when teams get av. 32,000 to hame games and make 300,000,yet Brisbane av.28,000 and make 5 million? Stadium deals are a disgrace

 

[Dogs Rule]

If I was Rose, I would chase down every last cent of this cash.

I wouldn't be surprised if Ezybonds is using the 'global financial crisis' as an excuse to weasel its way out of the deal.

Don't lay down Dogs, stand up for yourself. A contract is a contract.

 

[The Devil's Advocate]

Not when you take into consideration the $1.7m payment from the AFL - that's actually a $1.1m loss that the club is making.

He is still 100% correct however. However you want to couch it - it is still cash inflow that prevented an underlying 1.1m net loss from being reported.

 

[Urtle]

Wont be an issue RE: sponsors next year....very close to finalising major, and will be a long term agreement.

 

[Borgsta]

He is still 100% correct however. However you want to couch it - it is still cash inflow that prevented an underlying 1.1m net loss from being reported.

And if we didnt receive it quite simply we would not have spent that 1.1m. The club spent the money knowing it was guaranteed income due to the unevenness of the draw and stadium deals that were forced upon the club.

 

[Dogs Rule]

Wont be an issue RE: sponsors next year....very close to finalising major, and will be a long term agreement.

I've lost count of how many times I've heard this in the last six months. I'll believe it when it happens.

 

[Butane]

I've lost count of how many times I've heard this in the last six months. I'll believe it when it happens.

Yea, I'm starting to be that cynical as well.

 

[Warwick]

Yes unlisted tell us all is fair when teams get av. 32,000 to hame games and make 300,000,yet Brisbane av.28,000 and make 5 million? Stadium deals are a disgrace

Although I agree some teams are getting screwed with stadium deals, obviously total attendance isn't the only indication for a fair deal.

40 000 at a Bulldogs home game against another Melbourne club means there may only be 20 000 fans from each club.

Brisbane and Sydney don't get the advantage of opposition fans significantly (and in many cases, doubling) their home crowd attendances.

 

[paul scholes]

Although I agree some teams are getting screwed with stadium deals, obviously total attendance isn't the only indication for a fair deal.

40 000 at a Bulldogs home game against another Melbourne club means there may only be 20 000 fans from each club.

Brisbane and Sydney don't get the advantage of opposition fans significantly (and in many cases, doubling) their home crowd attendances.

In some cases I agree there are close to equal split,but the majority of support at the TD is for the home side in nearly all games. Anyway we're splitting hairs as it should be a case of the more arses put on seats the better the stadium deal.

 

[acker]

Not when you take into consideration the $1.7m payment from the AFL - that's actually a $1.1m loss that the club is making.

$1.7 milion is a small price to pay to keep some of the poorer clubs under the AFL umbrella rather than cutting them loose where they may start forming some kind of a pirate league.

 

[bambam33]

From today's Border Mail (Albury-Wodonga). The story never made it to the online edition so pardon the full cut-and-paste.

Border outfit’s debt to Dogs
THE principal of Border-based global payment company Ezybonds (UK) hopes to pay an outstanding sponsorship debt worth almost $400,000 to the Western Bulldogs Football Club next year.
Allan Endresz yesterday confirmed the Bulldogs’ shorts sponsor owed $390,000 from this year and had been released from its 2009 obligation, worth almost $500,000.
Mr Endresz said significant investors from London and the US had been hit hard by the global financial crisis, forcing his company to "trim back" its outgoings.
"We have tipped in $900,000 cash to the Bulldogs in the past two years," he said.
"The club has been understanding about our situation. We had another two-year contract in 2008 and 2009 but the real concern was next year.
"We have a balance of $390,000 for 2008 that we plan to pay in the first quarter of 2009 but we wanted to cut back next year.
"The Dogs have helped us with the termination of our contract for next year.
"Campbell (Rose, Bulldogs chief executive) has punted on me as much as I have on the club."
Mr Endresz said his company’s link with the Bulldogs had not been broken.
"The Dogs as a club going back to 1989 has almost parallelled my own life with its ups and downs," he said.
"It’s probably the worst environment for a footy club at the moment, with the Dogs, as well as Melbourne and Richmond, seeking major sponsors.
"But I’m just glad this has been very amicable."
The $390,000 shortfall has seen the Bulldogs’ profit fall to $640,000, announced at their annual general meeting last week.
Ezybonds last made a payment to the Bulldogs in July-August. Bulldogs’ president David Smorgon said the club would be happy to get half of the money owed but even $100,000 would be a windfall.
Mr Endresz said his company would be able to meet its obligation.​

 

[CharlesSc]

From today's Border Mail (Albury-Wodonga). The story never made it to the online edition so pardon the full cut-and-paste.

Border outfit’s debt to Dogs
THE principal of Border-based global payment company Ezybonds (UK) hopes to pay an outstanding sponsorship debt worth almost $400,000 to the Western Bulldogs Football Club next year.
Allan Endresz yesterday confirmed the Bulldogs’ shorts sponsor owed $390,000 from this year and had been released from its 2009 obligation, worth almost $500,000.
Mr Endresz said significant investors from London and the US had been hit hard by the global financial crisis, forcing his company to "trim back" its outgoings.
"We have tipped in $900,000 cash to the Bulldogs in the past two years," he said.
"The club has been understanding about our situation. We had another two-year contract in 2008 and 2009 but the real concern was next year.
"We have a balance of $390,000 for 2008 that we plan to pay in the first quarter of 2009 but we wanted to cut back next year.
"The Dogs have helped us with the termination of our contract for next year.
"Campbell (Rose, Bulldogs chief executive) has punted on me as much as I have on the club."
Mr Endresz said his company’s link with the Bulldogs had not been broken.
"The Dogs as a club going back to 1989 has almost parallelled my own life with its ups and downs," he said.
"It’s probably the worst environment for a footy club at the moment, with the Dogs, as well as Melbourne and Richmond, seeking major sponsors.
"But I’m just glad this has been very amicable."
The $390,000 shortfall has seen the Bulldogs’ profit fall to $640,000, announced at their annual general meeting last week.
Ezybonds last made a payment to the Bulldogs in July-August. Bulldogs’ president David Smorgon said the club would be happy to get half of the money owed but even $100,000 would be a windfall.
Mr Endresz said his company would be able to meet its obligation.​

Karatbars, WorldWideSolutionz, and others have told me they have all been ripped off by ezybonds.

Added to what Allan has stolen from AdHitProfits, I'm certain the amount he's stolen in the last year exceeds a million dollars... and he's not making a single bit of progress in transferring the funds that belong to these companies, and other individual account holders.

Allan Endresz pointed me to a part of the terms of service (which is new) which indicates that he doesn't have to transfer funds -- and gives a number of reasons.

Many seem to be arbitrary (up to his own personal opinion) and simply with the intention to justify stealing people's money from their account.

I asked him to be specific, and based upon what he has said before about me publishing content relating to my experience with ezybonds this last year, I think that's the cause.

Chain of events:

1st ezybonds committed transfer fraud, and continued reminding ezybonds account holders that they work hard to transfer funds (but never fulfilling promises)
2nd I published my experience after not receiving funds in January as promised in his Jan 1st letter.
3rd ezybonds says they will not transfer the funds because of my online content.
(they weren't anyway... now they use my published content as being the reason?)

He says there is risk with me because I have published my experience with ezybonds online. That experience came (naturally) after experiencing the problems.

Ezybonds problems are caused by ezybonds. My reporting them to the public cannot legally be a reason for him to steal my money, nor money that belongs to anyone else.

Like I said, these are brand new terms of service to meet Allan's goal of "not transferring the funds" which he has promised to transfer since last July.

[9:42 AM] Helen Pryor: Charles You keep making assumptions and presenting them as facts. I did not tell Allan about program on TV. Allan told one of UK Director s that he had been contacted by a reporter. I am not passive I am just unable to prove anything and unlike you I will not make accusations in strong language without proof. You may well be correct that Allan has used Member funds. However neither you nor I know this as a fact. That is why ASIC is the body that can assist you. Phil and I have over $2 million invested in Ezybonds UK and it is very important to us that it succeeds. We also have funds frozen in Ezyaccount s. To use your words we are also victims I can only remain neutral as I am not in possession of facts. Quoting the Bible to me does not help your cause. Please use your time to get others to join you to contact ASIC

 

[inyourfacedunk]

That's quite a bump.

 

[Mr. Walker]

The two are not really linked. The payment from the AFL is because of things like the game scheduling imbalance we have to accept.

I miss Old School's contributions ( not just here but on football generally)

 

[CharlesSc]

According to Allan Endresz, he still owes $300,000 -- he said on Jun 16, 2014:

"A debt of $300,000 remains outstanding to the Western Bulldogs pursuant to a confidential settlement agreement."