Strategy DEBT DEMOLITION CAMPAIGN

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Apr 5, 2019
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It's not costing us anything because no one is stumping up any monies for it and we don't have the funds.

KT can resign as CEO of Port Adelaide Football Club and go and become the CEO of the Power Community Limited corporation and go and raise the funds needed to build it if he thinks its that important.

KT would be very good in this field. He is passionate about the community/indigenous programs and has the expertise/idea/spin to start the journey and the execution to secure far greater grants to make this department viable.

The China is all too optimistic, we have been hearing since 2016 we have are on the cusp of some big heavyweights that would make Renault the local coffee shop then going from another big fish to another. A lot of changes in the Corporate dept and emphasis on China I think has been to overwhelming for Keith which has impacted the day to day operations and staff engagement.

I’d like to see the old KT back who was a straight shooter, was hands-on at the Club on top of all departments, involved in Footy and integrated with the members.
It is promising to hear he has been getting over to the Community Club a bit more often but he looks like he aged a decade in 3 years. 😕

I think the moment in 2014 when the Kerwin Rae type guy told him the Kodak biz story at a development session. It scared the bejesus out of him. He become A man on a mission and wanted to break the status quo. Although our the new and current was performing well we had to be different and in came new recruiting on and off field, buy the best sales exec even if from interstate, bring in more staff, staff from big companies, big budgets, bigger expenditure, China, China, China.
I guess it was part of being brave and bold when in reality we are just a like old Club from Alberton.


On other -
I think he knows all his mistakes and has put up responsibility.
That was very brave of him to take ownership and he does have experience getting us out of this situation.
He could still be the man, he just needs to be a bit more honest and speak from the heart not worry about how he is being perceived. Open up all current problems and financials, it is best that it comes from Keith before the media as the fans although not happy will have the respect we didn’t sweep or spin it. Our people are the strongest asset and will back each other to the hilt including the Club when times are tough, they won’t back each other and the Club when we get spin and not the true facts of our financials each year.

If the players have been notified last week about rolling over and how would it go down amongst a couple of player in a similar position I surely hope the Club are utilitising our Board Financial gurus to be auditing this on a monthly basis. 2016 wasn’t disastrous as it is now with similar crowds/members so what has made it get to this point.

I’d love/or someone else to go through that expense list with a fine tooth comb as the Club doesn’t have that skill set.

Could Kochies program his new show at Alberto. And organise 70 staff down to watch Kochies Couples TV show where he promises to Save $10,000 in 20 days.

All proceeds go to Ken for next years pay.

Jokes aside, if the Club did come out with the last 2 years financials detailed not summary) let us know how bad we are going and a strategy for the next two years that was set high but not ridiculous. If we had the odd shortfall but you were engaging fans and members, the fans will be backing out Club leaders to the hilt.
For so long we have become just Members Mushrooms and fed bullshit.

The more the club cuts itself off from the Club the revenue stops. Soon it will be admin staff not being paid money and you can’t keep running on 90 day accounts.

Good luck Keith’, make the right calls!

Hope KT reads -

Get yourself back into the loving your job again, forget about the big pipe dreams and be the leader you can be, you will control the situation and not it controlling you.

P.S Someone has a crack at you in the Boardroom next, get up and stand up tall, look them in the eye, think of your worst dayand swallow it then let out what is on your mind.
 
Nov 6, 2014
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Port Adelaide
It is starting to feel like we are more in a mess each year.
Koch and his “China will change this club’s fortunes forever” sales pitch.
Feels like such a fraud now.
Have we been grossly mismanaged?
Did we bite off too much for little old Port Adelaide with the China venture?
Is anything even salvageable or will we continue to sink deeper into a dark hole?
Hearing that Boak and Gray have been asked to move on some of their salary to next year. Why?
The next financial statement will be enlightening I guess.
 

elee

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Jun 10, 2017
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Jesus. I don't want to think about how much we're paying this guy to play, pause, fast-forward, and rewind game tape for his dad in review sessions.

Further, until he's off the payroll, I don't see any compelling reason to give the club money beyond what I spend on membership and (occasionally, and ill-advisedly) merchandise.

Nothing against the guy personally - I'm sure he's got pushing the buttons on that Betamax player down to a fine art - but the optics are terrible.


730352

watch it(highlights) in BetaMax

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Port Adelaide
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Brisbane
 

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Mar 1, 2014
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As I see it Koch has five years to prove that China will work to our advantage. He has used up three of those years and if we haven't progressed by the end of 2021 we need to declare China a failed experiment. We should not expect to see the Club make millions in that time but we should expect a balance sheet that offers some sound indication that there is money to be made for Port Adelaide. As it stands China seems to be a trade exposition for the South Australian and Victorian Governments and a corporate junket with little benefit to Port other than 'making the community proud'.

I am happy to be proved wrong and I am not writing China off but there has to be a limit to the Koch's snake oil salesman pitch and a time when we start to see results.
 

elee

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Debt demolition strategy - stop giving out stupid contracts. Don't sign s**t stadium deals. Don't do any non-football stuff unless it is making us money.


and no more Shanghai Surprises! - how much $$ does AFL put in..compared to Port is it 50-50% - anyone?

730410
 
Oct 12, 2007
30,503
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The Hills
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Why isn't the club being more honest about its financial position?

Do they feel embarrassed about going to the members? Is it Kochie trying to not tarnish his financial management image?

I know many members are doing it tough but if everyone pitched in a voluntary amount that went directly to getting rid of debt it would at least reduce the pressure associated with the debt interest.

It's time for the club to run an official debt demolition campaign so we can be independent of the creditors (AFL House).
If it was linked to buying back control of our club and the right to decide on decisions like pushing for the right to wear the prison bars and a single captain wearing #1 it would be a raging success.

On SM-G960F using
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Like RussellEbertHandball said, why can’t we issue and sell bonds to pay down the debt?
I didn't talk about selling bonds that was someone else. I think I said something re support via wealthy individuals loaning us money long term to pay out the AFL and bank debt and then someone else suggested the bonds idea.
 
When KT and Koch first arrived at Port, they preached about investing in the football programme and how football is our core business. The previous administrations had taken the opposite approach and been cutting funding from the football programme ever since we won the flag in 2004. The new approach paid immediate on field dividends - and to be fair, probably still do in a relative sense. But we're only barely keeping our head above water doing this, certainly not well enough to be paying down debt.

Would people rather we be like a club like North Melbourne and spend way less than everyone else on our football programme but have low debt? It's true I guess that they achieve comparable results to us. But their culture is superior to ours, we'd be doing worse I suspect.

China was supposed to be the game changer but it doesn't appear to be paying major dividends. Yet.
 
Like RussellEbertHandball said, why can’t we issue and sell bonds to pay down the debt?
I double checked some old posts unless my memory is poor. This is the only thing I posted about bonds and footy clubs - the WCE issued them around 30 years ago as part of the failed float for Indian pacific.

 

Eric Blair

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Aug 31, 2008
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I double checked some old posts unless my memory is poor. This is the only thing I posted about bonds and footy clubs - the WCE issued them around 30 years ago as part of the failed float for Indian pacific.


That’s cool thanks for getting back to me.

Another question what if any impediments would there be to issuing bonds as an alternative to paying down debt? I had a read of the constitution on the phone couldn’t find anything specific?
 
Sep 3, 2002
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China was supposed to be the game changer but it doesn't appear to be paying major dividends. Yet.
And from what Lockhart Road has said, if the club had a) listened to advice and b) hadn't cluster*ed everything just as we started it, then it probably would have been already. Why people expect the Chinese to see an obviously poorly run club and throw money at it is a mystery. Fix up the s**t on and off field and listen to the China experts and it still can be our means to getting rid of debt. Once we're debt free we can stand up to the AFL on any issue we want. Right now their cold clammy hands are so far up the clubs clacker when the AFL says jump our board and hierarchy is 'how high Gil?'.
 
And from what Lockhart Road has said, if the club had a) listened to advice and b) hadn't clusterfu**ed everything just as we started it, then it probably would have been already. Why people expect the Chinese to see an obviously poorly run club and throw money at it is a mystery. Fix up the s**t on and off field and listen to the China experts and it still can be our means to getting rid of debt. Once we're debt free we can stand up to the AFL on any issue we want. Right now their cold clammy hands are so far up the clubs clacker when the AFL says jump our board and hierarchy is 'how high Gil?'.
The cold hard yet encouraging truth in 5 lines.
 
That’s cool thanks for getting back to me.

Another question what if any impediments would there be to issuing bonds as an alternative to paying down debt? I had a read of the constitution on the phone couldn’t find anything specific?
Nothing I can think of, but the club would have to be the driver of it and as usual the AFL would probably have to approve it. I can't see any reason why they wouldn't unless they thought it meant the bond holders would be taking over the club - but long term unsecured notes/bond wouldn't give us that right.

I think I wrote in another thread that if we couched the marketing of this correctly, we pitch it as members are paying 1 extra adult membership in advance ie the $400 range and we got 20,000 adult members to do it, we would wipe out $8m of debt.

The 7,735 WCE notes/bonds were issued for $500 back in 1990ish.

But it would have to be well presented, not the BS spin from Koch and co., we have a plan for why we wont go into further debt over the next 5 years, so we don't have another one of these bond issues.

If done well, it probably allows us to set up the Port Adelaide Supporters Group idea that chiwigi and bomberclifford have been talking about re the bring back the bars campaign, a supporters manifesto and the things discussed in the heritage watch thread chiwigi started.
 
Nothing I can think of, but the club would have to be the driver of it and as usual the AFL would probably have to approve it. I can't see any reason why they wouldn't unless they thought it meant the bond holders would be taking over the club - but long term unsecured notes/bond wouldn't give us that right.

I think I wrote in another thread that if we couched the marketing of this correctly, we pitch it as members are paying 1 extra adult membership in advance ie the $400 range and we got 20,000 adult members to do it, we would wipe out $8m of debt.

The 7,735 WCE notes/bonds were issued for $500 back in 1990ish.

But it would have to be well presented, not the BS spin from Koch and co., we have a plan for why we wont go into further debt over the next 5 years, so we don't have another one of these bond issues.

If done well, it probably allows us to set up the Port Adelaide Supporters Group idea that chiwigi and bomberclifford have been talking about re the bring back the bars campaign, a supporters manifesto and the things discussed in the heritage watch thread chiwigi started.
Yes, a part of it is a buy in, but the idea is that it would be far lower so as not to turn into a coterie group.
However, the power that the board will choose to give up is the big question.

I have suggested the club follow a sanctioned model similar to Supporters Trusts in the UK.
 
Eric Blair I think this is what you were referring to. I didn't call it bonds but getting 10-15,000 pledgers to pledge $100 each to payout ken and the soft cap tax and get our new sponsor PwC to administer the Trust Fund so that it is seen as independent. Page 13 of the sack Hinkley thread.



I just remembered a PM chiwigi sent me about it saying that's the sort of thing he has been thinking and talking about. So it could be a combined Trust Fund and bonds type set up so that members and supporters get some control back of the club.
 
I have suggested the club follow a sanctioned model similar to Supporters Trusts in the UK.

Excellent idea. I really hope they follow though with this.
 

The Rubber Man

Club Legend
May 1, 2018
1,363
2,401
AFL Club
Port Adelaide
It is starting to feel like we are more in a mess each year.
Koch and his “China will change this club’s fortunes forever” sales pitch.
Feels like such a fraud now.
Have we been grossly mismanaged?
Did we bite off too much for little old Port Adelaide with the China venture?
Is anything even salvageable or will we continue to sink deeper into a dark hole?
Hearing that Boak and Gray have been asked to move on some of their salary to next year. Why?
The next financial statement will be enlightening I guess.

So if we throw away china. being the 2nd team in Adelaide we dont get any decent sponsors. We have learnt this over the past 20 years.
Do you have a solution as to where we can get the extra cash? The current model of hoping we get over 40k per week to home games to just break even at the end of the year isnt going well.

I admire the current administration for doing something left of field to try and generate something. If we go ahead with it for the next few years at least we will continue to receive 500k p.a profit for it. Definitely a helpful sum but would have to look at other options for long term sustainability.

The rolling on player payment i believe is because next year we will be below the acceptable amount of Total Player Payments. Pay them on November 1st instead of October 31st means that cash goes into next year.

We will lose some senior players it looks like this year and we may only replace them with draft picks. If we then cant bring in a mature A grader to take some of that cash, we will be below TTP.

Ryder is on 700k. He will either leave or be put on 400k. Amon is also on 300k (maybe?) and he seems to be gone. We will have 1mil sitting there and probably only bring in draft kids. If ollie leaves like the rumours say. Then thats another 900k free'd up.

The rolling on thing seems to be a safety net in case we dont bring anyone in.
 
Jesus. I don't want to think about how much we're paying this guy to play, pause, fast-forward, and rewind game tape for his dad in review sessions.

Further, until he's off the payroll, I don't see any compelling reason to give the club money beyond what I spend on membership and (occasionally, and ill-advisedly) merchandise.

Nothing against the guy personally - I'm sure he's got pushing the buttons on that Betamax player down to a fine art - but the optics are terrible.

 
Aug 30, 2011
9,261
19,173
kensington
AFL Club
Richmond
Why isn't the club being more honest about its financial position?

Do they feel embarrassed about going to the members? Is it Kochie trying to not tarnish his financial management image?

I know many members are doing it tough but if everyone pitched in a voluntary amount that went directly to getting rid of debt it would at least reduce the pressure associated with the debt interest.

It's time for the club to run an official debt demolition campaign so we can be independent of the creditors (AFL House).

We had to do it and it was a little embarrassing at the time but now it’s paid off ,4.5m from memory, it’s made a huge difference. I think it took 4 years of member donations and fundraising campaigns. But $500k in interest every year was killing us.

Sooner action is taken the better.


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