RussellEbertHandball
Flick pass expert
The accounts submitted by all clubs to ASIC are fine. They are legally correct.1. I am an accountant
2. My Uncle just retired from ASIC after 30 years
we are both entitled to our congruent opinions which were general in nature but would apply to all clubs and the AFL as financial entities.
3. I won't argue further because I radically edited that initial post almost immediately.
Its the media releases with the bullshit spin that is the problem. Could you imagine an ASX top 10-20 market cap company putting the PR spin on its results like AFL clubs do? The market and the analysts would tear them to shreds. The trouble with these media statements is that most people dont understand the full story and worst still, the footy industry journos dont and they just swallow up the bullshit in the media release.
s**t its been Bigfooty in general that has picked up the bullshit. The_Wookie has led the charge to get to the truth. Ex AFR and now The Australian business sports journo John Stenholt used to just report the bullshit pre depreciation operating results of many clubs until The Wookie started talking to him and he then started digging and reporting the true bottom line for all clubs.