chiwigi
I’ll make tears from your Wines.
Of course its the point. We had debt because our money was taken from us, not because we didn't generate it.
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Analysis Stadium deals - what, how, when - why we need a new one and the SA footy paradigm shift happening
- Thread starter RussellEbertHandball
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Of course its the point. We had debt because our money was taken from us, not because we didn't generate it.
If someone breaks your leg deliberately then offers you a Panadol, they aren't a f***ing Good Samaritan!
RussellEbertHandball
Flick pass expert
- Thread starter
- #5,753
Our debts pre 2008 were manageable. They got out to $6.5mil around 2001 but we had good cash flow to service them. A shit stadium deal meant we couldnt bank $10m between 2001-05 like Brisbane did with their great stadium deal in their boom years during that 5 years, which allowed them to handle their down turn initially better than us. The Sanfl need a good kick up the arse but our club has to take its share of the responsibilities. I blame Webber for ****ing up in 1990 and allowing the Sanfl to be seen as virtuous gods and not getting us into the AFL. I blame Choco for his shit game plan which was suspect under finals pressure. I blame Choco for not getting us into 3 GFs in a row. I understand him backing the guys who won in 2004 but the gold passes , the captaincy and over playing Primus as well as others meant 2005 was a yo-yo year when it should have been a year of consolidation making another GF and banking $2m despite a shit stadium deal. I blame Choco for his tactics in the showdown final and Port capitulating and the long term harm that did - it was a dishonouable loss. I blame our recruiting team who had a shocking 2001-05 draft period who caused the tank to be left near empty with not enough Experienced Talented players in that 2009-12 period, which saw us plummet down the ladder, rather than stay in the top half as our premiership greats finished their careers. Not drafting a great KPF to replace Tredders over about 10 years, had nothing to do with the Sanfl. One could argue their harmful actions helped us get high draft picks so we could get that replacement. I blame our board who from about 2002 started pushing the Teal, the Power and wanting the Magpies dead which was a dumb strategy. The Sanfl shackled us with their monopoly power but we made some major dud decisions. Eventually we turned the ship around got rid of the dead wood and got people who were good enough to get rid of the Sanfl shackles.
Last edited:
Are you related to him or something.
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The same SANFL that plotted to surrender West Point to the hated British?
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The same SANFL who keeps taking pictures of my sister?
The same SANFL that squealed to the Senate committee on organised catering?
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the same SANFL who keeps writing letters to Sinatra?
http://www.news.com.au/sport/sanfl-...oves-to-the-city/story-fnaqgujp-1227265064399
FOOTBALL’S move from West Lakes back to Adelaide Oval did have a financial winner after all - the SANFL.
While the Crows and Power both recorded losses ($480,000 and $2.5 million respectively) from their first AFL seasons in the city, the SANFL’s operating profit rose to $1 million (from $300,000) and its debt profile fell to $26 million from $37 million.
And the SANFL figures would have been sounder had the league not spent $2.8 million last year covering hefty bills for the Crows ($1.3 million in maintaining Adelaide’s training base at Football Park) and for the Power ($1.5 million in debt reduction).
SANFL president John Olsen last night tabled the league’s annual report shattering the image of the State league being the major winner - with guess of an $8 million windfall last season - in football’s return to the Oval after a 40-year recluse at West Lakes.
More.........
http://www.news.com.au/sport/sanfl-...oves-to-the-city/story-fnaqgujp-1227265064399
FOOTBALL’S move from West Lakes back to Adelaide Oval did have a financial winner after all - the SANFL.
While the Crows and Power both recorded losses ($480,000 and $2.5 million respectively) from their first AFL seasons in the city, the SANFL’s operating profit rose to $1 million (from $300,000) and its debt profile fell to $26 million from $37 million.
And the SANFL figures would have been sounder had the league not spent $2.8 million last year covering hefty bills for the Crows ($1.3 million in maintaining Adelaide’s training base at Football Park) and for the Power ($1.5 million in debt reduction).
SANFL president John Olsen last night tabled the league’s annual report shattering the image of the State league being the major winner - with guess of an $8 million windfall last season - in football’s return to the Oval after a 40-year recluse at West Lakes.
More.........
http://www.news.com.au/sport/sanfl-...oves-to-the-city/story-fnaqgujp-1227265064399
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lol
Doctor Feel
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"THERE WAS NO RISK TO THE CROWS AND PERT, ALL THE RISK WAS WITH THE SANFL"- Some sanfl ****wit
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At least we know where $11m went.
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Yeah, what the fruit, man.
$11,000,000 comes off the debt = "Queek. Sand halp!"
$11,000,000 comes off the debt = "Queek. Sand halp!"
Did laugh reading the AFL needs to get this message - footy's in trouble at junior levels thread on the main board.
SAgreat on the first couple pages complaining that the AFL only puts 500k into the SANFL a year and they have no money to provide footballs for little johnny.
ummm...
SAgreat on the first couple pages complaining that the AFL only puts 500k into the SANFL a year and they have no money to provide footballs for little johnny.
ummm...
RussellEbertHandball
Flick pass expert
- Thread starter
- #5,768
Still no 2014 SMA accounts tabled in parliament this sitting week so far. But the latest 6 month Auditor General's report into spending the state governments $535mil was tabled for the 6 months ended 31st December 2014. This link from the AG's website is better than the parliament website scanned copy.
http://www.audit.sa.gov.au/LinkClic...bid=279&portalid=0&mid=858&forcedownload=true
The state still has potentially $10.946m of its $535m capped grant to grant to the AOSMA Ltd to spend. The government doesnt have to spend the monies the but SMA will be requesting they do. Only $4.719m was spent on AO during this 6 month period out of these grant monies.
The feds gave $30mil for the project $18mil was granted to the SMA to spend on capital expenditure and other items used to "the $18 million be used to procure other certain works associated with the Adelaide Oval redevelopment. The Cabinet submission further advised that AOSMA was well placed to procure the works as they related to items concerning the playing surface, oval operations and equipment with which the SANFL and SACA have previous operational experience......My previous Reports mentioned that DPTI transferred $18 million to AOSMA pursuant to the Deed of Grant between AOSMA and the responsible Minister. My last Report noted that AOSMA had advised Audit that, as at 30 June 2014, all of the funds provided by the Minister had been expended.
The other S12mil was to be spend on the landscaping of the areas around the oval. Its what you see being worked on now and the last couple of months and will be for a couple of months more and its why the northern carpark area from Lights Vision down the hill wont be available for car parking until June. From the report "As at 31 December 2014 DPTI expended (on an accrual basis) a total of $3 million from the $12 million balance of Commonwealth funds..." This is how the $12mil will be spent - basically the bold items will be worked on in 2015.
• $4.5 million for Northern Parklands upgrade works
• $2 million for the Creswell/Pennington Gardens West upgrade works
• $4 million for other works in the Northern Parklands Licence Area
• $1.5 million for other precinct works for the northern side of the Torrens.
The AFL chipped in $5mil in 2 payments in the first half of 2014. But I dont think that was additional expenditure as the report doesnt talk about how it was spent and says ..."was received by DPTI and deposited in the special deposit account.."
http://www.audit.sa.gov.au/LinkClic...bid=279&portalid=0&mid=858&forcedownload=true
The state still has potentially $10.946m of its $535m capped grant to grant to the AOSMA Ltd to spend. The government doesnt have to spend the monies the but SMA will be requesting they do. Only $4.719m was spent on AO during this 6 month period out of these grant monies.
The feds gave $30mil for the project $18mil was granted to the SMA to spend on capital expenditure and other items used to "the $18 million be used to procure other certain works associated with the Adelaide Oval redevelopment. The Cabinet submission further advised that AOSMA was well placed to procure the works as they related to items concerning the playing surface, oval operations and equipment with which the SANFL and SACA have previous operational experience......My previous Reports mentioned that DPTI transferred $18 million to AOSMA pursuant to the Deed of Grant between AOSMA and the responsible Minister. My last Report noted that AOSMA had advised Audit that, as at 30 June 2014, all of the funds provided by the Minister had been expended.
The other S12mil was to be spend on the landscaping of the areas around the oval. Its what you see being worked on now and the last couple of months and will be for a couple of months more and its why the northern carpark area from Lights Vision down the hill wont be available for car parking until June. From the report "As at 31 December 2014 DPTI expended (on an accrual basis) a total of $3 million from the $12 million balance of Commonwealth funds..." This is how the $12mil will be spent - basically the bold items will be worked on in 2015.
• $4.5 million for Northern Parklands upgrade works
• $2 million for the Creswell/Pennington Gardens West upgrade works
• $4 million for other works in the Northern Parklands Licence Area
• $1.5 million for other precinct works for the northern side of the Torrens.
The AFL chipped in $5mil in 2 payments in the first half of 2014. But I dont think that was additional expenditure as the report doesnt talk about how it was spent and says ..."was received by DPTI and deposited in the special deposit account.."
RussellEbertHandball
Flick pass expert
- Thread starter
- #5,769
The SANFL have put their 2014 Annual Report on line ( The_Wookie this one and the report in my post above can be added to your Sky Drive documents link). Last year they had 3 pages of financials Balance Sheet, P&L and Cash Flow Statement. This year they have drop the Cash Flow Statement - dont want to give us too much info. It's a little difficult to work it all out from suh little info but there is some useful stuff if you dig around the comments See
http://www.sanfl.com.au/files/_system/File/PDFs/2015/2014AR.pdf
The show a net profit of $77,331,455 from continuing operations? How did they do that? They introduced on their books the value of
Adelaide Oval leased asset value.................................... $73,461,000
Net Present Value of future AFL licence transfer payments.... $9,983,416 ( ie the $18.31mil the crows and Port pay between 1st Nov 2013-31st Oct 2028)
But Wrote of the value of AFL Licence value in SANFL books ($6,081,000)
Net Loss after netting out these book adjustments.................. ($31,961) - but they never say that loss anywhere after allowing for these book entries
Also as they sold the land in November and received a $10m deposit after the books closed but they booked a $10,870,000 revaluation of property increase (effective profit) which made their comprehensive profit for the year $88,201,455. In the Group accounts ie + Port and Crows - they booked a loss of ($25,650,720) from discontinued operations ie for selling the Port's and crows' licences.
So whilst all these entries are book entries the SANFL has given us a sneak look into how well they might do out of the AO deal. In their 2011 Annual Report they said
From the 2014 financial year, however, the SANFL will be able to bring a “leased” asset onto its balance sheet that represents the fair value of future net earnings from Adelaide Oval. This asset has been estimated at approximately $55 million. This will offset a large part of the AAMI Stadium write-down.
Using an interest or discount rate of 6% in both 2011 and 2014 the SANFL is saying they effectively will get an annual net cash flow from AO deal in perpetuity of $3.3mil back in 2011 and at the end of 2014 they had upped that to $4.4mil. I basically took the figures they said in their annual reports and calculated a net cash flow annuity in perpetuity.
Some interest things from the AR
Page 3
FINANCIAL PERFORMANCE
The SANFL recorded an increase in cash reserves of $1.34 million following the first full year of operations at Adelaide Oval.
The SANFL achieved a positive net cash flow from operating activities of $1m compared to $0.3m in 2013
and, at 31 October 2014, had cash on hand of $1m and a further $2m offsetting debt.
Some key points regarding the 2014 financial result include:
• A statutory net profit of $77.33m and an increase in net assets of $83.48m from $27.89m to
$111.37m. This was mainly due to recognising the Adelaide Oval leased asset of
$73.46m representing the estimated net present value of future cash flows and the net present
value of future AFL Licence transfer payments of $9.98m; and
• An estimated net improvement in stadium generated revenue from moving from AAMI
Stadium to Adelaide Oval of approximately $3.78m.
In May 2014, SANFL refinanced its debt facilities to Bendigo Bank who provided the SANFL with five year
committed facilities. As part of its debt reduction strategy, the SANFL applied the $10m received from the sale of
the first parcel of land at AAMI Stadium in December 2014 to reducing debt. Debt is expected to be fully amortised within seven years.
The League is anticipating a moderate surplus in 2015 – the first year of the new Adelaide Oval financial model, which will return more revenues to the AFL clubs.
Page 3
AAMI STADIUM
In November 2014, the SA Football Commission formally signed a contract with developer Commercial & General
for the sale and 20+ year redevelopment of the AAMI Stadium precinct.
As part of the agreement, the SANFL received an upfront payment of $10 million which was transferred to the AFL to retire debt, money borrowed as part of the $16.25m provided to Port Adelaide to keep the club viable ahead of the move to Adelaide Oval.
Commencing in 2016, the SANFL will start to receive payments totalling a further $61 million by 2027 as part of a staged redevelopment of the precinct.
The existing oval will be retained for training by the Adelaide Football Club, which has a lease over the site until 2048.
It is anticipated the project will eventually include at least 1600 homes with an array of living options available including architecturally designed homes, townhomes and apartments. The project is set to deliver a cosmopolitan café and dining culture, boutique shopping strip, public open spaces and lifestyle offerings.
With the signing of this agreement, the SANFL has secured a legacy for our code and one that will benefit football across the State.
Page 4
AFL LICENCES
In March 2014, the SA Football Commission officially reached agreement with Adelaide and Port Adelaide to transfer the two AFL licences to the clubs in return for payments totalling more than $18 million.
The agreement will see the two clubs pay the Commission annual Club Game Development grants totalling $18.311 million, concluding in 2028. Adelaide will pay $11.326 million while Port Adelaide will pay $6.985 million in grants between 2013 and 2028.
As part of the agreements signed, the AFL confirmed that the SANFL will continue to manage Game Development in South Australia and committed to provide the SANFL with annual AFL Game Development Grants over the same period, a figure which would total approximately $29 million with CPI.
The AFL also committed to continue to provide appropriate annual AFL Talent Development Fees to the SANFL, a figure which would total approximately $16 million at existing levels (average of $1.0 million per year). [pretty sure this is the transfer fees when players are drafted then play certain amount of games additional payments are made by AFL clubs to state leagues and junior teams]
This bit belongs after the peragraphs on the left had side of this attachement.
The SANFL achieved a positive net cash flow from operating
activities of $1m compared to $0.3m in 2013 and had cash
on hand of $1m and a further $2m offsetting debt. This
represents an increase in cash of approximately $1.34m
compared to 2013.
The positive cash flow was mainly due to higher revenue
generated from moving AFL Football from AAMI Stadium to
Adelaide Oval. The financial uplift from moving to Adelaide
Oval has been measured at approximately $3.78m.
In addition to this uplift of $3.78m, SANFL benefited from
hosting an unbudgeted AFL Final at Adelaide Oval and the
Bon Jovi Concert at AAMI Stadium.
So the bottom line - the SANFL got an extra $3.78m from AO, the benefit of a final and Bon Jovi and basically broke even (small $31k loss) when yu take out all the book entries and increased their cash position by only $1.34m
http://www.sanfl.com.au/files/_system/File/PDFs/2015/2014AR.pdf
The show a net profit of $77,331,455 from continuing operations? How did they do that? They introduced on their books the value of
Adelaide Oval leased asset value.................................... $73,461,000
Net Present Value of future AFL licence transfer payments.... $9,983,416 ( ie the $18.31mil the crows and Port pay between 1st Nov 2013-31st Oct 2028)
But Wrote of the value of AFL Licence value in SANFL books ($6,081,000)
Net Loss after netting out these book adjustments.................. ($31,961) - but they never say that loss anywhere after allowing for these book entries
Also as they sold the land in November and received a $10m deposit after the books closed but they booked a $10,870,000 revaluation of property increase (effective profit) which made their comprehensive profit for the year $88,201,455. In the Group accounts ie + Port and Crows - they booked a loss of ($25,650,720) from discontinued operations ie for selling the Port's and crows' licences.
So whilst all these entries are book entries the SANFL has given us a sneak look into how well they might do out of the AO deal. In their 2011 Annual Report they said
From the 2014 financial year, however, the SANFL will be able to bring a “leased” asset onto its balance sheet that represents the fair value of future net earnings from Adelaide Oval. This asset has been estimated at approximately $55 million. This will offset a large part of the AAMI Stadium write-down.
Using an interest or discount rate of 6% in both 2011 and 2014 the SANFL is saying they effectively will get an annual net cash flow from AO deal in perpetuity of $3.3mil back in 2011 and at the end of 2014 they had upped that to $4.4mil. I basically took the figures they said in their annual reports and calculated a net cash flow annuity in perpetuity.
Some interest things from the AR
Page 3
FINANCIAL PERFORMANCE
The SANFL recorded an increase in cash reserves of $1.34 million following the first full year of operations at Adelaide Oval.
The SANFL achieved a positive net cash flow from operating activities of $1m compared to $0.3m in 2013
and, at 31 October 2014, had cash on hand of $1m and a further $2m offsetting debt.
Some key points regarding the 2014 financial result include:
• A statutory net profit of $77.33m and an increase in net assets of $83.48m from $27.89m to
$111.37m. This was mainly due to recognising the Adelaide Oval leased asset of
$73.46m representing the estimated net present value of future cash flows and the net present
value of future AFL Licence transfer payments of $9.98m; and
• An estimated net improvement in stadium generated revenue from moving from AAMI
Stadium to Adelaide Oval of approximately $3.78m.
In May 2014, SANFL refinanced its debt facilities to Bendigo Bank who provided the SANFL with five year
committed facilities. As part of its debt reduction strategy, the SANFL applied the $10m received from the sale of
the first parcel of land at AAMI Stadium in December 2014 to reducing debt. Debt is expected to be fully amortised within seven years.
The League is anticipating a moderate surplus in 2015 – the first year of the new Adelaide Oval financial model, which will return more revenues to the AFL clubs.
Page 3
AAMI STADIUM
In November 2014, the SA Football Commission formally signed a contract with developer Commercial & General
for the sale and 20+ year redevelopment of the AAMI Stadium precinct.
As part of the agreement, the SANFL received an upfront payment of $10 million which was transferred to the AFL to retire debt, money borrowed as part of the $16.25m provided to Port Adelaide to keep the club viable ahead of the move to Adelaide Oval.
Commencing in 2016, the SANFL will start to receive payments totalling a further $61 million by 2027 as part of a staged redevelopment of the precinct.
The existing oval will be retained for training by the Adelaide Football Club, which has a lease over the site until 2048.
It is anticipated the project will eventually include at least 1600 homes with an array of living options available including architecturally designed homes, townhomes and apartments. The project is set to deliver a cosmopolitan café and dining culture, boutique shopping strip, public open spaces and lifestyle offerings.
With the signing of this agreement, the SANFL has secured a legacy for our code and one that will benefit football across the State.
Page 4
AFL LICENCES
In March 2014, the SA Football Commission officially reached agreement with Adelaide and Port Adelaide to transfer the two AFL licences to the clubs in return for payments totalling more than $18 million.
The agreement will see the two clubs pay the Commission annual Club Game Development grants totalling $18.311 million, concluding in 2028. Adelaide will pay $11.326 million while Port Adelaide will pay $6.985 million in grants between 2013 and 2028.
As part of the agreements signed, the AFL confirmed that the SANFL will continue to manage Game Development in South Australia and committed to provide the SANFL with annual AFL Game Development Grants over the same period, a figure which would total approximately $29 million with CPI.
The AFL also committed to continue to provide appropriate annual AFL Talent Development Fees to the SANFL, a figure which would total approximately $16 million at existing levels (average of $1.0 million per year). [pretty sure this is the transfer fees when players are drafted then play certain amount of games additional payments are made by AFL clubs to state leagues and junior teams]
This bit belongs after the peragraphs on the left had side of this attachement.
The SANFL achieved a positive net cash flow from operating
activities of $1m compared to $0.3m in 2013 and had cash
on hand of $1m and a further $2m offsetting debt. This
represents an increase in cash of approximately $1.34m
compared to 2013.
The positive cash flow was mainly due to higher revenue
generated from moving AFL Football from AAMI Stadium to
Adelaide Oval. The financial uplift from moving to Adelaide
Oval has been measured at approximately $3.78m.
In addition to this uplift of $3.78m, SANFL benefited from
hosting an unbudgeted AFL Final at Adelaide Oval and the
Bon Jovi Concert at AAMI Stadium.
So the bottom line - the SANFL got an extra $3.78m from AO, the benefit of a final and Bon Jovi and basically broke even (small $31k loss) when yu take out all the book entries and increased their cash position by only $1.34m
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tribey
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- Provided Keith Thomas with no less than 3 but no more than 5 coffees when he visited HQ to discuss Port's reparations for causing WW1
SANFL = Austro-Hungarian Empire.
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I don't like that theory as i drink more than 5 a day and the % goes backwards again after 5 cups.
Quadzilla
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Can we assassinate Ol$en?
proman_x
Premium Platinum
Lets get down to the most important point
You say you barracked for Port ? Why did you jump ship and start supporting WC ?
