2019 Financial Results

[NoobPie]

As far as the PRO redevelopment

From what I have heard
Fed money $15m
State will give at least $5m
AFL $5m

Thing is, the whole thing could cost $30m +

But other people are saying that you haven't had any commitment from the AFL or the state government. So perhaps you can actually back up what you've heard?

Then the hat will go around to major sponsors, coteries and the general rank and file

Doubt the RFC will put in a penny of the cash in the bank

Richmond is a pretty good example of the Pareto distribution at work.

You wish on all fronts

Richmond will have to outlay millions to make it happen.

More generally you are a big club having what could probably at the point of being called "dynastic" on field success after decades of mediocrity and worse. You'll probably find that the PRO redevelopment depreciation will put you into accounting losses in a few years

 

[NoobPie]

Interestingly, looking at the Collingwood 2019 annual report, the gaming venues operating results will still be reported as part of the 2019 annual report

The financial accounts for the 2019 year will include the operating result of the “The Coach & Horses” in Ringwood and “The Club” in Caroline Springs, until the sale to Melbourne Racing Club (MRC). In addition to the results, the 2019 financial accounts will include the profit on sale of the venues to MRC.

As such it will be another year until we see the impact on the club's position P&L post sell off.

What will certainly be the case is that we won't be all of a sudden making $6m losses

From last years annual report, the remaining un-depreciated "plant and equipment" balance after 2018 was about $1m. This item had been depreciating at $1.3m a year over the last few years. Likewise the 600k amortisation of gaming entitlements will be goneski.

On the other side of the ledger, we will find out how much of gaming and function rooms revenue is associated with the glasshouse. In 2015 this line item showed $17.1M. This was after we'd sold the other gaming venues. Since then that line item increased by almost $6m. The equivalent expense category increased by about $4M

As it is, the released figures suggest Collingwood is getting $13.2M from gaming.

AFL clubs reaped $100 million pokies windfall last year

New stats reveal how much your club made from pokie machines last year amid calls for change.

www.smh.com.au

This is a fair way shy of $23 million under the "function centres and gaming venues" reported revenue

 

[Ned_Flanders]

As far as the PRO redevelopment

From what I have heard
Fed money $15m
State will give at least $5m
AFL $5m

Thing is, the whole thing could cost $30m +

Then the hat will go around to major sponsors, coteries and the general rank and file

Doubt the RFC will put in a penny of the cash in the bank

Richmond is a pretty good example of the Pareto distribution at work.

I thought the club were looking to spend $60-80m on the redevelopment

 

[tigerwill]

You'd hope not now. Why would the AFL grant Richmond redevelopment money?

How much have they put into Kardinia Park, Ikon Park etc.

 

[Kwality]

How much have they put into Kardinia Park, Ikon Park etc.

$nil to Optus Stadium in Perth, kicked in to the Dockers at Cockburn & Eagles Lathlain redevelopment.

 

[NoobPie]

How much have they put into Kardinia Park, Ikon Park etc.

Ikon park is going to be the centre of the AFLW apparently. Not sure how much the AFL contributed to Kardinia park but it would be dwarfed by the feds and the state government. It is a an AFL stadium that has 9 games a year

I don't know anything about the PRO redevelopment but it would need but AFL contribution would need some justification beyond "you gave money to other clubs in completely different situations for completely diferent purposes".

 

[Tiger Soze]

Ikon park is going to be the centre of the AFLW apparently. Not sure how much the AFL contributed to Kardinia park but it would be dwarfed by the feds and the state government. It is a an AFL stadium that has 9 games a year

I don't know anything about the PRO redevelopment but it would need but AFL contribution would need some justification beyond "you gave money to other clubs in completely different situations for completely diferent purposes".

But it’s not a completely different situation or purpose, it’s exactly the same except West Coast had $70m in cash and only contributed $22m to the redevelopment.
You probably should look into the PRO redevelopment to be able to make informed comments.

 

[Kwality]

But it’s not a completely different situation or purpose, it’s exactly the same except West Coast had $70m in cash and only contributed $22m to the redevelopment.
You probably should look into the PRO redevelopment to be able to make informed comments.

got a link on your Eagles claim?
Tip: the development is not finished yet, construction finished June 2019

West Coast Eagles Zone | Lathlain

www.lathlainprecinct.com.au

 

[Martin#4]

Ikon park is going to be the centre of the AFLW apparently. Not sure how much the AFL contributed to Kardinia park but it would be dwarfed by the feds and the state government. It is a an AFL stadium that has 9 games a year

I don't know anything about the PRO redevelopment but it would need but AFL contribution would need some justification beyond "you gave money to other clubs in completely different situations for completely diferent purposes".

Korin Gamadji Institute with all the various indigenous leadership/community programs the club runs from PRO, as well as the Sports Leadership/Development courses run in conjunction with Swinburne and Bachar’s Islamic academy are quite a few examples of community programs that are run from PRO, that have no benefit to the club in terms or recruitment/access to talent etc.

Everything above, are community programs which the club use to support various community groups and minorities. These all take staff/resources/floor space in our HQ to run, at no profit to the club.

These programs would help further a lot of the AFL’s strategic objectives regarding growing indigenous and minority participation.

I would expect the AFL will be contributing to the PRO expansion. The quantum will come down to the business case presented by the club (how much of the expansion will benefit these programs, additional community programs etc).

 

[Tiger Soze]

got a link on your Eagles claim?
Tip: the development is not finished yet, construction finished June 2019

West Coast Eagles Zone | Lathlain

www.lathlainprecinct.com.au

Which part? Their $22m contribution is in an article on the AFL site, let google be your friend.
The WCE cash and investments is in their FY report.
Let me know if you can’t find it and when I have some time I get it for you.

 

[Kwality]

Which part? Their $22m contribution is in an article on the AFL site, let google be your friend.
The WCE cash and investments is in their FY report.
Let me know if you can’t find it and when I have some time I get it for you.

Happy to take a look at the 2018 numbers, but thats 12 months back .... maybe just attach a link to your claim. Didnt ring true with what I understand to be the situation, let you know.

 

[Kwality]

Which part? Their $22m contribution is in an article on the AFL site, let google be your friend.
The WCE cash and investments is in their FY report.
Let me know if you can’t find it and when I have some time I get it for you.

I did, you are wrong. IF you had linked ...

 

[Tiger Soze]

I did, you are wrong. IF you had linked ...

Not much point in me giving you a link as you obviously can’t read a balance sheet.
Suggest you go back and have another look and for 2018 you will find total financial assets at a net fair value of $71,276,930.
This is up from the 2017 total of $66,333,174.
If you don’t actually know where to look let me know and I will help you out.

 

[Ned_Flanders]

Not much point in me giving you a link as you obviously can’t read a balance sheet.
Suggest you go back and have another look and for 2018 you will find total financial assets at a net fair value of $71,276,930.
This is up from the 2017 total of $66,333,174.
If you don’t actually know where to look let me know and I will help you out.

what are you going on about?

the building hasnt been completed, they are continuing to spend more of their $60m (last figure I saw $35m had been spent, and that was early in the year)

much of the coin they have saved has been for this work, just as we are stockpiling cash right now for the same reason

 

[Kwality]

But it’s not a completely different situation or purpose, it’s exactly the same except West Coast had $70m in cash and only contributed $22m to the redevelopment.
You probably should look into the PRO redevelopment to be able to make informed comments.


So you werent on about the funding of the Eagles facility, in the same conversation as the Tiges facility.
Do yourself a favour & look at the investment in the 2019 figures.

From 2018:
Lathlain facilities (i) $25,726,816
(i) The development at Lathlain is currently progressing with a move in target of next financial year. Details of the change in accounting estimates related to this project are set out in note 2(e).
&
(c) Lathlain Development Commitments In relation to the Lathlain development, the Consolidated Entity has a commitment for construction contracts of $26,680,551 to be paid within 12 months.

Check the cash & financing using those skills of yours.

Trust Benny is not using your professional expertise.

 

[Tiger Soze]

what are you going on about?

the building hasnt been completed, they are continuing to spend more of their $60m (last figure I saw $35m had been spent, and that was early in the year)

much of the coin they have saved has been for this work, just as we are stockpiling cash right now for the same reason

What is wrong with you people, it’s fairly simple and got nothing to do with any of that rubbish anyway. It’s about noobpie suggesting the AFL shouldn’t put any money into the PRO development because we have $24.4m cash. I was pointing out that on initial budget announcement the AFL were putting in $4.5m into the Eagles development $60m and the Eagles were putting in $22m.
Pretty simple to interpret I would have thought but obviously not.
It’s about why the AFL should put into the PRO development and nothing more.
Move on.

 

[Ned_Flanders]

What is wrong with you people, it’s fairly simple and got nothing to do with any of that rubbish anyway. It’s about noobpie suggesting the AFL shouldn’t put any money into the PRO development because we have $24.4m cash. I was pointing out that on initial budget announcement the AFL were putting in $4.5m into the Eagles development $60m and the Eagles were putting in $22m.
Pretty simple to interpret I would have thought but obviously not.
It’s about why the AFL should put into the PRO development and nothing more.
Move on.

That's not what he said, he said they would need to make a strong case for it

 

[Kwality]

What is wrong with you people, it’s fairly simple and got nothing to do with any of that rubbish anyway. It’s about noobpie suggesting the AFL shouldn’t put any money into the PRO development because we have $24.4m cash. I was pointing out that on initial budget announcement the AFL were putting in $4.5m into the Eagles development $60m and the Eagles were putting in $22m.
Pretty simple to interpret I would have thought but obviously not.
It’s about why the AFL should put into the PRO development and nothing more.
Move on.

Fair chance you stretched too far .... sure Noob is entitled to ask why? You certainly havent answered his question.
Personally I'm aware of the Tiges development, try to be across my own club though, & you are still wrong.

 

[NoobPie]

Korin Gamadji Institute with all the various indigenous leadership/community programs the club runs from PRO, as well as the Sports Leadership/Development courses run in conjunction with Swinburne and Bachar’s Islamic academy are quite a few examples of community programs that are run from PRO, that have no benefit to the club in terms or recruitment/access to talent etc.

Everything above, are community programs which the club use to support various community groups and minorities. These all take staff/resources/floor space in our HQ to run, at no profit to the club.

These programs would help further a lot of the AFL’s strategic objectives regarding growing indigenous and minority participation.

I would expect the AFL will be contributing to the PRO expansion. The quantum will come down to the business case presented by the club (how much of the expansion will benefit these programs, additional community programs etc).

You should volunteer your services to help put together said business case. To be honest, I would have thought there's a stronger case for state gov cash but certainly you've pura good case for alignment with AFL objectives

 

[Tiger Soze]

Fair chance you stretched too far .... sure Noob is entitled to ask why? You certainly havent answered his question.
Personally I'm aware of the Tiges development, try to be across my own club though, & you are still wrong.

You are an argumentative fool and coward, go away

 

[Todman]

Hawks announce 2019 financial result

President Jeff Kennett attributed the club’s ongoing success to its loyal membership base, strong commercial partnerships and a commitment to innovation within the club.

www.hawthornfc.com.au

Key points of the report include:

● Club net operating surplus of $2.15 million ($2,150,210) for the year ending 31 October 2019

● Achieved a record membership tally for the 13th consecutive season; 81,211 (2018: 81,017), including 9,564 Tasmanian members; a record membership tally for Tasmania.

● Hawthorn’s consolidated net asset position increased to $56.5m, up from $51.6m in 2018.

● The club recorded gross revenues of $76,199,406 (consolidated) and $54,779,960 (club).

 

[Hawkk]

Follow up to the club announcement was this article behind The Age’s paywall...

Strong Hawks on track for Dingley relocation by end of 2022

After recording another surplus Hawthorn say the next six months are critical as they raise funds and await planning approval for their ambitious plan to build their base at Dingley.

www.theage.com.au

$29m already committed but the development has ballooned to $110m (from $80m in 2017 and $100m last year)

The club will break dirt on the site subject to approvals from the local council

Still no monies committed by the State, Federal Governments or the AFL

 

[The_Wookie]

 

[RussellEbertHandball]

But it’s not a completely different situation or purpose, it’s exactly the same except West Coast had $70m in cash and only contributed $22m to the redevelopment.
You probably should look into the PRO redevelopment to be able to make informed comments.

So you werent on about the funding of the Eagles facility, in the same conversation as the Tiges facility.
Do yourself a favour & look at the investment in the 2019 figures.

From 2018:
Lathlain facilities (i) $25,726,816
(i) The development at Lathlain is currently progressing with a move in target of next financial year. Details of the change in accounting estimates related to this project are set out in note 2(e).
&
(c) Lathlain Development Commitments In relation to the Lathlain development, the Consolidated Entity has a commitment for construction contracts of $26,680,551 to be paid within 12 months.

Check the cash & financing using those skills of yours.

Trust Benny is not using your professional expertise.

In March 2018 at the following linked post, from the article in the AFR, I broke down the way the WCE were going to fund the Lathlain facility, based on a cost of $61.5m

Resource - 2017 Financial Results

Not sure there isn't more to it than that. That'd leave matchday receipts of ~$2.9M which would be one of the highest of all clubs, which seems unlikely given their attendance figures. Could it be that 'AFL distributions' includes more than just the 'grant revenue' referenced on p24? Solid...

www.bigfooty.com

The expenditure to 31/10/18 of $25.72m and commitments of $26.68m = $52.40m. I'm not sure of note 2(e) but I think it means $9.1m won't be capitalized but straight out expensed in 2019 ie

Lathlain Development (Change in estimate)
Following a thorough review of the nature of the costs previously capitalised in relation to the Lathlain
development, the Board has determined that certain items do not appear to have any enduring future
economic benefit. Accordingly, the Board has agreed to a change in the estimate of the costs to be
capitalised as a result of the Lathlain development in the current financial year.

The other things is that the feds and state government gave $10m each but in the 4 years the WCE have showing the following amounts as received as Development funding;
$3,330,000 (2018) + $7,023,860 (2017) + $1,800,000 (2016) + $725,000 (2015) = $12,878,860.

It was my understanding that part of the $10m+$10m government funding was for the Wirrpanda Foundation. If so then maybe that's why $20m wont be shown in the WCE's books over 5 years once 2019 financials are published because also at note 2 (e) it says;

Non-consolidation of Wirrpanda Foundation Limited (“WFL” or “the Foundation”)
In accordance with AASB 10 Consolidated Financial Statements, management has determined that the
level of power, exposure, rights and ability to affect returns over the Foundation does not constitute
consolidation between the Foundation and the Consolidated Entity. The activities of the Foundation
operate independently of the activities of the Consolidated Entity and are directed by management of the Foundation. Funding received by the Foundation is allocated at the discretion of the Foundation’s
management and financial returns are retained by the Foundation.

 

[NoobPie]

Follow up to the club announcement was this article behind The Age’s paywall...

Strong Hawks on track for Dingley relocation by end of 2022

After recording another surplus Hawthorn say the next six months are critical as they raise funds and await planning approval for their ambitious plan to build their base at Dingley.

www.theage.com.au

$29m already committed but the development has ballooned to $110m (from $80m in 2017 and $100m last year)

The club will break dirt on the site subject to approvals from the local council

Still no monies committed by the State, Federal Governments or the AFL

This is an easier one to understand surely?

Isn't Dingly land owned outright by Hawthorn?