Official Club Stuff 2019 AGM/election

Who are you voting for?

  • George Fiacchi

    Votes: 9 14.8%
  • Gavin Wanganeen

    Votes: 14 23.0%
  • Craig Thompson

    Votes: 27 44.3%
  • David O'Donovan

    Votes: 1 1.6%
  • Jack Watts

    Votes: 10 16.4%

  • Total voters
    61

Remove this Banner Ad

Went to the AGM for 5.30 meeting but that was for the Port Club ie Port Adelaide Football and Community Club Inc’s AGM (which lasted all of 3 minutes) with a 6pm start for the PAFC’s AGM. I had to go to the airport for a pick up, so I only heard Koch give his speech and made a dash for the exit as first question was asked and I didn’t get a chance to ask any.

So this is my summary of Koch’s speech and some analysis of the minimalist financials they handed out.

Koch talked about the new directors, first Darren Cahill he and Cardone had been trying to get him onboard for a couple of years– wanted him on board to help set elite standards for the future. Ken and Matthew Lokan were standing right behind me, and I was tempted to look around and see how they took that comment.

Introduced Wangers as the member elected director. Said he couldn’t be prouder to have him on board. Went thru the fact he was first Aboriginal Brownlow medallist, Aboriginal to play 300 games – left out the V/AFL bit – first Aboriginal on Port’s board and and first ex Aboriginal player to be on the board of any AFL club. Talked a bit about his career and said he won his first flag in 1990 playing against Geelong??? Either slip of the tongue or rat shit speech notes. Wangers election was a genuine feel good moment in the room. Said Wangers got a majority of the votes.

Thanked George Fiachi for his efforts over the last 6 years. George is in Thailand on business, said he spoke to him yesterday and will get George on some committees as he wants to keep him engaged with the club. Thanked the other 2 candidates, who were both there, but didn’t mention them by name, which I though was piss poor.

Said tomorrow’s announcement would involve a significant and long term partnership.

Talked about what we could do as fans and put up a slide with “It’s time to get the Port Adelaide Swagger Back.” Nice talk but it has to come from the footy team for that to happen.

Talked about how quickly the AFL changes, and put a slide with AFLW and AFLX logos. Said we would have a women’s team by 2021, but I don’t think he made that clear if it was in the SANFLW or AFLW comp. We haven’t been allocated a licence for 2021 or 2022 along with Sydney, Hawks and Essendon. Hawthorn and Essendon applied for a licence for both 2019 or 2020 and missed out on both. Port and Sydney didn't even apply for either year.

Said the National Reserves comp is on the medium term agenda, but didn’t say when or anything about the consequence for a Port side in the SANFL .

Mentioned a small bit about China and AFLX game as the vehicle for there.

Said 2020 will be a big year for the club as its our 150th anniversary without giving anything away on what was planned for it.

Talked about bringing back past premiership players to help fix our problems with Schofield, Montgomery and Brogan added to the coaching panel, Voss getting a reassigned coaching role and searching for solutions.

At some point talked about the players that we let go and suggested they were let go because they weren’t the players we needed to improve and had to get new personnel in if we wanted to improve.

Then he got onto the financials. Put up a slide of 6 years of “Net Operating Profit” ie the BS pre depreciation figures and said comparing it to the way the AFL industry reports financial results. Mentioned being fully transparent and didn’t bullshit us, but had to smile at more bullshit by Koch. If we were transparent we would have sent out full financials or decent concise financials, 21 days before the AGM, like the old days when the SANFL controlled us and not this 3 page minimalist bullshit.

Spent a bit of time going on about debt levels being stabilized, put up a bar chart graph on the slide with no real increase for 4 years, but I had to laugh as the Current + Non Current Liabilities items of Interest bearing loans and borrowings, had gone up from $6.261m in 2017 to $8.279m yet in the cash flow statement it said we paid off $182k of short term borrowings and finance lease. Absolutely no explanation of this discrepancy. See my comments below.

Said we had no room for error.

Said not getting a second Joint Major Sponsor was a MAJOR FAILURE and was a big driver in our poor financial result.

Said they had got a strong message about both on field and off field results and it was kick up the back side from the supporters.

Said we couldn’t absorb the loss of a 2nd JMS and our lower crowds. Said On Field results impacted our Off Field results.

Talked about the $3 million we have had to pay to the SANFL to underwrite the move to AO for 5 years and that was renegotiated with the SANFL ( ie as part of the 2017 review) and 2018 year was the last year of paying $600k, so in 2019 that $600k cash will be applied to debt reduction which they are budgeting for $1 mil reduction per year for the next few years.

Finished off his speech the strong point we had 61,460 paid up members in 2018, not free members and made up members, without mentioning names.

Koch’s tone was quiet forceful I thought. Said the club is not happy with the past year, it’s not acceptable, we have made big changes to improve things. I would have like to have been around, to hear the tone of the questions and responses, and to Ken’s talk. But basically said tonight was to draw a line on 2018, not talk about it anymore and look forward to this season. I don’t know what that means for the members convention because there has to be a fair bit of comparing and contrasting 2019 v 2018 for it to have any real value.

Financials - I will put them in another post as I have to cut and past stuff from 2017 accounts lodge with ASIC to explain stuff for 2018.
 
Last edited:
2018 Financials - minimal info handed out.

1549634810116.png

1549634853393.png


1549634894476.png

Items that need explaining

"I’m not bullshittin’ back here." Bruce Springsteen Reunion Tour concert June 2000 Madison Square Gardens

"We don't bullshit you." David Koch Port Club February 2019

I only believe one of these people's statement.

1. Koch in his 21 December 2018 financial results statement said;
After taking into account depreciation and a series of one-time and restructuring costs, the club incurred a loss of $987,321 which was mitigated by a revaluation gain of $4,166,586 on its land and buildings,.....

Whilst that statement was technically correct it hid there was a tax adjustment - ie back taxes paid of $182,856. This wasn't explained but my guess is that it has to do with Payroll Tax for The Prince Hotel.

In 2005 this Contingent Liabilities note appeared in the Port Adelaide Football an Community Club Inc (ie Port Club) Annual Report.

1549636108846.png

The Payroll Tax one was there between 2003 and 2006 and the Income Tax one was there between 2005 and 2012 and neither taxes were highlighted as eventually paid in the financial statements (which are more detailed than the PAFC Limited's financial statements) after they were eliminated as a contingent liability, says to me that no back taxes were paid.

However with the merger with the Magpies in November 2010 before full reunification, The Prince Hotel might be harder for the club to avoid paying Payroll Tax on, as its not on the Alberton precinct and is a distinct separate business. I can't see it being caught as Income Tax, because if Hawthorn get away with paying no income tax on their 72% share of the Caroline Springs pokies venue, where they earn $6m in gaming income, $7m in food and beverage sales and $4m in accommodation income and make about $3m profit on this venue that is about 50km away from Hawthorn's base in Mulgrave ie Waverley Park, I don't think Port would be paying income tax on The Prince and would have the same Section 50-45 of the Income Tax Assessment Act 1997 as the Club is an exempt sporting organisation.


2. Debt levels
Current + Non Current Liabilities items of Interest bearing loans and borrowings, had gone up from $6.261m in 2017 to $8.279m yet in the cash flow statement it said we paid off $182k . Koch showed a slide that said our debt levels haven't increased over 4 years.

My guess is that it relates to AFL monies they loaned us or paid some of our expenses during 2011-14 years that we had shown as accounts payable back to the AFL and have now reclassified it as borrowings as there has been no movement thru the cash flow statement. When the AFL released its annual report in March last year it talked about Brisbane and St Kilda have debts over $10m and Port close to $10m and our accounts only showed $6m. I discussed at the this post in March as the discussion came from this article and Lockhart Road said
- "Gillon is telling everyone it’s $9 million. He seems not to like us just now. Or perhaps he’s reading it upside down."

https://www.bigfooty.com/forum/thre...-thread-part-6.1183913/page-115#post-54514371
http://www.heraldsun.com.au/sport/a...n/news-story/8ff9d5bcc84554041e389110c9a32cae
McLachlan said the overall level of “bad debt” among the 18 clubs was around $50 million, having been reduced by $10 million last season. He believes it can be reduced by another $10 million this year........McLachlan said the Saints owed “more than 10 million”, while Brisbane’s debt is around $17 million and Port Adelaide’s is less than $10 million.

3. The Land and Buildings revaluation wasn't explained by Koch. I don't know if the council has transferred the bowling club land to us as I asked KT last July about the land tenure issues re building the Aboriginal Centre of Excellence on, and he said there is no issue! That suggests we either own it or have secured a long term lease.

You will note we have $4.7m in the bank. $4m of that is the grant from the feds to build the ACE and can't be touched and the other side is in current liabilities under Trade and Other Payables as a Government grant received in advance.

4. You will note that our 2017 result has changed from a profit of $28,611 to a loss of $(21,389). Why?? Because Depreciation has increased from $970,853 to $1,020,853. Why? Stuffed if I know. Either an error picked up after the accounts were signed off on and rather than have an extra $50k of expenses in 2018 just do a back dated adjustment.

The $3mil that Koch mentioned - $600k per year that both Port and the crows had to pay as part of the AO underwrite fee with the SANFL was discussed in the full accounts of both clubs for 2017. The initial plan was to sell Footy Park and develop it over 15 years and both clubs would have to pay this $600k each over 15 years. But looks like the 2017 stadium deal review showed the SANFL has pulled back on this as Commercial and General are developing Footy Park faster than over 15 years and the SANFL's cash flow is over a lot shorter period than first budgeted for.

The notes in the accounts lodged with ASIC for 2017 explain this and show what sort of amount was going to have to be paid. Port adjusted their long term commitment note to the accounts, the crows didn't. So thanks ASIC, or with the privilege of me paying ASIC $38 to get Port's full financial statements - and The Wookie does same to get the crows full financial statements, we get the fuller picture.

Once again we keep it quite that we were paying this amount, don't let the members see we are paying the SANFL any monies, and showed it as a normal operating expense whereas the the crows said this was outside normal operating expenses as was included in their BS pre depreciation and other expenses operating profit.

Port's 2017 accounts - the 2 notes I have below have to be read together and show there was a remaing future $7m commitment at the end of 2017 to the SANFL, for this underwrite payment to cover that first 15 years at AO, which has now finished in 2018. Don't tell the plebs we are still having to pay the SANFL.

1549639865429.png


1549640029823.png


Notes in Adelaide's 2017 accounts, they made a similar disclosure but didn't make an adjustment to their future payments like we did.

1549640192766.png


1549640261913.png


"I’m not bullshittin’ back here."
 

Log in to remove this ad.

He made some weird comments about being confused during the season about whether the 2017 game plan was sustainable and acknowledged that the season finish indicated it wasn't.
Jesus.
A person also stated their negative feelings towards co-captains. I think it was Kochie who then asked whether members would prefer to keep a tradition even if it was not in the club's best interests to achieve success.
Double Jesus.
 
Sounds to me that Koch has decided there will be co-captains. That’s that then.
He mentioned ‘finals appearances’ with regard to the Swans? Not finals wins. So with him it’s appearance that counts. Forget about a premiership with Koch in charge. He’s far too happy with far less.
Well he is was a Sydney Swans supporter.
 
On the issue of co-captaincy and from Koch's response, it sounded like he favours it. He drew upon Sydney's success playing 21 of the last 24 finals with co-captains and questioned if it is the best thing for the club to be successful then why not? There was a strong voice of discontent from the members when Koch spoke about it and so he withdrew immediately. Afterwards Hinkley drew upon the success we had when Geof Motley was captain and didn't wear number 1.

I thought that for Hinkley to bring that up after the members were discontent moments earlier was poor especially with his mannerism. It is a sensitive issue and I felt that Koch didn't properly prepare to discuss it and deliver an explanation of why it should be considered.

I really have tired with the club being selective about the examples they draw reference from just to suit their desires.
 
Hinkley stated that the players were confused during the game play whilst referring to our late season dive but afterwards denied he said the word confused when a young member queried him about it.

KT didn't speak.

Outside of the financials and captaincy there wasn't much else.

Poor turn out of members. Is it disengagement or lack of advertising?
 
Basically we are getting co-captains and we are to eat that shit sandwich whether we like it or not.

I think they are underestimating how much of an uproar this is going to cause.
 
Thanks REH excellent as always.

When we the people get control back of our club one day I hope you are on the board.

Sounds like el presidente (and by extension the club that he leads and sets the tone for) has many skills but perhaps reading the room/ general feeling of others is not one of them re co captains.
 
Hinkley stated that the players were confused during the game play whilst referring to our late season dive but afterwards denied he said the word confused when a young member queried him about it.

KT didn't speak.

Outside of the financials and captaincy there wasn't much else.

Poor turn out of members. Is it disengagement or lack of advertising?

Disengagement. They really don't put much time into promoting it.
 
I hope they walked away from that AGM thinking gee, maybe we shouldn't appoint co-captains.

However it sounds like the decision has already been made. They wouldn't be defending it so hard if they hadn't.
 

(Log in to remove this ad.)

This isn't a Koch decision alone. I had a chat with an ex player who happens to be a member of an advisory committee (name I will not mention), and he said all parties (players, board, coaches) involved in the decision are unanimously in favour of co captains.

He did mention a small number of supporters wouldn't be happy, I felt the need to correct him and let him know it wouldn't be a "small" number. I told him I got the feeling they don't fully understand the potential consequences of this decision.

Sent from my SM-G950F using Tapatalk
 
This isn't a Koch decision alone. I had a chat with an ex player who happens to be a member of an advisory committee (name I will not mention), and he said all parties (players, board, coaches) involved in the decision are unanimously in favour of co captains.

He did mention a small number of supporters wouldn't be happy, I felt the need to correct him and let him know it wouldn't be a "small" number. I told him I got the feeling they don't fully understand the potential consequences of this decision.

Sent from my SM-G950F using Tapatalk

All of those ginourmous ****heads are custodians of the club. They don't ****ing own it. Tradition is owned by the club, not these success starved charlatan dickweeds.
 
When Mark Williams was coach after Cunningham departed I felt that our Members Evenings and AGMs had occasional moments where the attendees were spoken to with condescending tones. When KT arrived that improved but last night Hinkley's tone was again condescending in my opinion.

I forgot to mention that he he said "whether it's two or three" when discussing the co-captaincy option. His intention was to rile the members.
 
Oh yes ... I forgot ... Hinkley's most emphatic message with full tone and fervour as if he was delivering a three quartertime speech was his complete backing of player's having a life outside of football. I want players to unwind but I believe that they still need to be accountable for when, what, and how they unwind and if a player misses games for their chosen unwinding activity then the club shouldn't be absorbing the full costs. This Hinkley guy finally turned me into believing he's a bush league coach.
 
Basically we are getting co-captains and we are to eat that shit sandwich whether we like it or not.

I think they are underestimating how much of an uproar this is going to cause.
Fummmmmming
 
Basically we are getting co-captains and we are to eat that shit sandwich whether we like it or not.

I think they are underestimating how much of an uproar this is going to cause.

Football clubs don't really make leadership decisions based on what the supporters want though. I understand the frustration but at the same time I don't think it matters what we all think.
 
So a done deal then.

Genuinely hope it is successful and if it is I will publicly in this forum and others including at the club (agm questions etc) acknowledge that I /we as supporters were wrong and should trust the club more often and will stfu.

But if it is not then I am going all melty mcmetlface with epic WE told you so's how about you listen to us you mofos until all of those that thought it was appropriate are gone from our club.


Why can't we be successful with one captain? This is just another case of them finding other reasons for their failures rather than taking complete ownership of the real football reasons. Sydney did not become successful because they appointed co-captains. They developed better teams. They had groups of leaders. We will appoint two guys that still haven't given us good consistent football over their careers. So due to their inept development we will break tradition.
 
On the issue of co-captaincy and from Koch's response, it sounded like he favours it. He drew upon Sydney's success playing 21 of the last 24 finals with co-captains and questioned if it is the best thing for the club to be successful then why not?
36 SANFL premierships, 1 AFL premiership, and 4 Champions of Australia were won with one captain. If Koch is looking for the best things for the club to be successful he needs to look elsewhere. Having said that, we are so getting two captains.
 
Furthermore they still said once that they want to play the Port Adelaide way. Whilst they break tradition to camouflage their failures.
Arrogant a**holes. Koch's response to the floor re Sydney comparison and Ken's also really got me angry. Don't conveniently use our history and tradition when it suits. What happened to the creed, we are port Adelaide, always have always will be? Maybe they should place an asterisk when quoting.
 
Back
Top