Toast North Melbourne Debt free

We've paid off the debt.

We've guaranteed our home stays at Arden Street.

Now we can start using our cash to invest in the area through the major redevelopment of the precinct.

Let's do a Hawthorn/Richmond and set a target.

Three flags and $30m in the bank by 2030.

Make it happen politically motivated parasites on the board.
 

Duvel

Team Captain
Jul 31, 2007
347
187
Wellington, New Zealand
AFL Club
North Melbourne
Other Teams
Wellington Hurricanes & Phoenix

While I am celebrating the club being debt free. I am surprised and humble to see my name on that. I was a silver pledge and contributed some donations on top of my membership as part of Tru Roo plan, all those years, but alas had to stop the extra donations in past five years, but kept the membership and added my daughter's women NMFC membership since 2017.

cracking a beer open tonight.
 
Disappointing that the focus of the Age and Hun is Dani. The real news, debt free, runs a long second. Worked in the media long enough to understand why, but disappointed the real news will be lost on many.
 
Was she convicted? I'm not sure.

Good behaviour bond, no conviction recorded.

We don't know the details and the justice system has run it's course. Let bygones be bygones and just appreciate how good it is that after what has clearly been a rough couple of years, she felt comfortable to come home to NMFC.
 
Dani, Brad and Nobes, Brayshaw and Buckley, Arocca and Amarfio with the silent driver in Scanlon. They have all done so much for this club and should rightly be celebrated today.
Totally.

Everybody should also take some personal pride in today as well.

The little guys, the faceless supporters from all over Australia, our expats overseas who all stuck fat handed over their cash and tipped in to reduce the debt. When we were on our kness and the blows from The Afl, The Media and the casual opposition scumbag reigned down from above our loyal core dug in.

For that every one of us should be proud.

Up the Mighty Shinboners!!
 

big_e

Existential crisis management consultant
Apr 28, 2008
12,560
38,503
Back Pocket
AFL Club
North Melbourne
Other Teams
Wycombe Wanderers
I think the club should have made a distinction between good debt and bad debt. Relying on credit, like a credit card, to get by is bad debt, it doesn't create anything. Getting a mortgage is good debt, it allows you to build your asset base. The generic anti-debt language will make it hard for us to get back into debt for investment purposes in the near future at least.
I honestly don't like the distinction between good debt and bad debt. No doubt there was some "good debt" in the amount that was thrown back at us by the AFL as a reason for us to go to the Gold Coast. And if things start to go pear-shaped again, I doubt the banks will care when we say "but it's good debt!"

The major difference between investing for a football club and investing for just about anyone else is that the football club can't sell the asset. I can go into "good debt" to buy an office building for my business and then sell it later to pay off the debt, but the footy club can't sell our facilities at Arden Street because we don't own the land it sits on.

A better option is to get governments to kick in for as much as possible. The State Government committed $7 million last year for an upgrade at Arden Street - that's a far better approach than "good debt", and the club's significant investments in government relations is the latest in a long list of really smart things we've done in the past decade.
 
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