telsor
Hall of Famer
Seems your view is being challenged (& not for the first time). Good luck if you bother.
People really need to learn to read an annual report before they pretend they know about financial matters.
Fish in a barrel really.
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Seems your view is being challenged (& not for the first time). Good luck if you bother.
Go check their annual report for 2019.
Page 51, Section 4 of the notes (revenue breakdown)
AFL distribution is listed as 28,253,204 to consolidated (i.e. WAFC and it's subsidiaries...AKA, WCE & Freo) and 5,388,533 to 'WAFC inc' directly
Given they're already being given the third degree by State Parliament for burning $10-odd million of taxpayer funds on salaries for Don Trevor's cronies and hangers on, giving any money to the AFL would be nuclear-level stupidity on the Commision's part.
The WAFC or the Eagles? Do you know the difference ?
Can you read a Balance Sheet, the liabilities bit?
VicbiasSo why didn't the AFL allow us to buy that home game again?
Vicbias
If the OP is true
Who do you think owns the Eagles? Seriously am confused by this point altogether.
I would tell the AFL to shove it , maybe the 370 people junket to the gold cast for two months could have been smallerI will give this its own thread. AFL have asked WAFC to commit 65 mill to the AFL over the next 3 years in return for better revenue sharing conditions going forward. It is effectively expected to be loan to the competition which will be paid back over a 15 year period thereafter via improved profit share. The AFL cannot commit to any more loans and due to higher then expected losses they are about 60-80 mill short. WAFC has 90 mill in money in the bank + investments. About 70 mill of that is entirely from the West Coast Eagles.
Nisbett is still negotiating with the AFL and so far has only briefly touched the subject on the radio. He expects the Eagles to have to commit around 50-60 mill however as a minimum from Eagles alone.
The game is officially on its knees it seems.
If it was me I’d like to see the AFL executive’s salaries and the entire AFL financials before I leant them any money.
I don’t trust the people running the competition at all.
Bro, you gotta earn this wealth. What are you willing to do for it?Hand over the dosh you arrogant WA lanky pillocks.
Us poor little struggletown melbourne clubs are doing it tough, while you lot want to flaunt your wealth and rub it in our faces.
You just don't want the working class battlers to have a fair go.
Don't be so greedy. Share the wealth.
Ownership is but one very small part of the financial/legal arrangement IF thats the extent of your understanding.
The WAFC is a legal entity.
Indian Pacific Ltd is a separate legal entity.
Compre?
You can readily look these entities up, look at their Annual Reports, their Financials & a quick look will reveal all.
2019 Financial Results
Previous Years threads: 2018 Annual Report Thread 2017 Annual Report thread 2016 Annual Report thread 2015 Annual Report thread 2014 Annual Report thread 2013 Annual Report thread 2012 Annual Report thread 2011 Annual Report thread AFl and Club documents AFl and Club documents thread 2018...www.bigfooty.com
Office holders have legal responsibilities, they cant simply do whatever suits them. The WAFC own the Eagles but it cant simply appropriate their funds, anymore than the AFL can seize club funds.
Bro, you gotta earn this wealth. What are you willing to do for it?
Sounds like Victorian clubs need to move out of latte-sipping Brunswick and build some revenue.Nonsense. You just want to hoard the money like greedy capitalists.
The wealth must be redistributed equally among ALL clubs, for the greater good of the competition.
This is akin to saying Kogan shouldnt include the sales on Dick Smith or touch its profits in its ASX Financial Reports because they are named differently..
Like cmon man. Be better
Funny thing about legal entities, they are defined by the law. Are you up with this stuff, Dick Smith suggests you are floundering around AGAIN ....
Everyone can see Kogan sales reported: https://www.asx.com.au/asx/share-price-research/company/KGN
As for Dick Smith, the company was founded in Sydney in 1968 by Dick Smith and owned by him and his wife until they sold 60% to Woolworths Limited in 1980, the remaining 40% two years later. The company closed in 2016*, four years after its acquisition by Anchorage Capital Partners.*
*https://www.smartcompany.com.au/fin...ngs-we-learnt-from-the-administrators-report/
Fortunately WA footy has access to talent, e,g Paul Fitzpatrick:
Paul has been a partner of Clayton Utz since July 1, 1985 and practises in the areas of commercial litigation, competition law, national competition policy, international and domestic arbitration and sports law. He is a former partner in charge of the Perth Office of Clayton Utz, and has conducted a wide range of complex litigation, including contractual disputes and cases relating to the Competition and Consumer Act, the Corporations Law, professional negligence, and intellectual property.
This isnt a grant? Its revenue distribution. Barring contractual obligations, WAFC have received 185,000 per year since 2001
If you are arguing the AFL should withold TV rights money before they ask for a loan, you should do a read up of contract law
LMFAO
You realise Kogan bought Dick Smith?
Distributions of TV rights goes to clubs. The $5.3M to the WAFL isn't that.
As for it being contracted...what contract? Do you have a copy?
Seems odd for a contracted payment to vary so much year on year (was ~$4M in 2018).
Nonsense. You just want to hoard the money like greedy capitalists.
The wealth must be redistributed equally among ALL clubs, for the greater good of the competition.
No one would as the VFL wouldn't exist anymoreIf you just joined the WAFL you wouldn’t have to worry about anything to do with Victoria whatsoever.