Why is Tom Browne so ******* inept that he can barely compose a sentence, let alone a tweet?
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Why is Tom Browne so ******* inept that he can barely compose a sentence, let alone a tweet?
They may of cut back and been s**t on field but in the same time have won as many flags…..
I saw "another picture circulating of Danni Laidley" last week, taken at the races outside of Melbourne and she looked like that Eurovision entrant a few years back with the full beard. Either it was a very grainy photo, or she's had a shave for the picture above. Looks a bit like Malcolm Turnbull's missus now.
simba_
sucking a lemon
i cannot wait to find out i might subscribe to the advertiser so i find out early
Sarcasm filter applied
I know we haven't won a flag recently, but success over cash every time
Despite all the negativity I'd rather be supporting Port
In the end run, they took the risk of short term no chance of success to clear their debt and it (surprisingly to me) paid off. We chose fund our football department and go for success. In the end neither have success, but we still have debt and a s**t coach. WTF is going on when you can't point to North as worse off? North being debt free just ramps up how much I hate Koch, Keith, Ken and Richo for wasting our chances for success, that would have also given us the new members and sponsors and increased amounts from existing sponsors to clear our debt.
It would be interesting to know how they did it.
The only thing that stands out as a point of difference for them is the money they make from flogging games to Hobart. In virtually every other metric they are at the bottom of the table. The last 2 years have been COVID. No fans or spectators at grounds. Most clubs have said they are bleeding. So what could it be?
The Vic Governement has poured in loads of dough into their ARden St Development. Have they leveraged off that? Have they misappropriated funds into their own coffers?
Has Peter Scanlon tipped in millions?
Has Covid actually been good for them, in so much as nobody comes to their games any way so the loss in match day revenue hasn't hurt them?
They don't really have any other revenue streams. Maybe once again COVID has been a blessing in diguise? A low cost base.
Have they simply not spent money except the bare minimum? For years?
It's intriguing.
The only thing that stands out as a point of difference for them is the money they make from flogging games to Hobart. In virtually every other metric they are at the bottom of the table. The last 2 years have been COVID. No fans or spectators at grounds. Most clubs have said they are bleeding. So what could it be?
The Vic Governement has poured in loads of dough into their ARden St Development. Have they leveraged off that? Have they misappropriated funds into their own coffers?
Has Peter Scanlon tipped in millions?
Has Covid actually been good for them, in so much as nobody comes to their games any way so the loss in match day revenue hasn't hurt them?
They don't really have any other revenue streams. Maybe once again COVID has been a blessing in diguise? A low cost base.
Have they simply not spent money except the bare minimum? For years?
It's intriguing.
Like almost all clubs (except not Port of course), the money they received for AFLW has been for facilities shared with AFL players. Plus if they are getting funding in general for redevelopment that's not money they had to use their own reserves for like Port. Port from 2008 does 'wrong place, wrong time' so well. Even if we do get money for upgrades under AFLW auspices, it's not going to be as much as if we'd entered 3 - 5 years ago. Voters at both state and federal level also keep voting ALP in the seat by a fair margin, so there's not incentive to throw money for that reason. Alberton isn't even close enough to the city (based on comparative city sizes), to be inner city like North to get a generic 'this upgrade will benefit all' largesse. FMD.
RussellEbertHandball
Flick pass expert
Its not that intriguing. Read their financials for the last 10+ years - that's at least how long its taken, as their debt was $4.95mil in October 2010 and it has slowly been reduced over the last 11 years by on average $500k a year.
They get an extra distribution from the AFL that most of the established 16 clubs don't get, to help pay off debt. They have a low footy department expenditure. They run on a minimal revenue and expenses basis. They run a tight ship. Tassie helped. Arden Street facilities redeveloped has helped a bit drive new revenue stream. The whole new suburb of Arden redevelopment run by Melbourne City Council and State government with 40,000 people living and working there, with the building of a new Metro Tunnel still under construction but Arden station has been completed, has also helped.
There is no single magic bullet over 11 years.
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To remain debt free, they're going to need to continue to not spend money. Cutting costs can make a balance sheet look better but at the end of the day it's going to be meaningless if they can't create better revenue streams.
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Many homeless people are technically debt free, yet still live on the street.
Polec should've asked for more.
Is AFL the only sport in the world where giving a non elite player top 30 AFL player money has no penalty?
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Our man, Flint.
RussellEbertHandball
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Ok the following is interesting. The figures in my previous post were only for interest bearing debts.
North Melbourne on their website article says they reached peak debt of almost $9mil in 2012. Below is the liabilities section of their 2012 financial statements with 2011 comparisons.
Looks like they paid off $1mil of interest bearing debt late in 2012 down to $3.75mil on their $5mil facility, but from their cash flow statement they got $1.4m from the government for their oval redevelopment (as does note 1(q)) and they may have used part of it to help fund the $1mil loan repayment unless they spent all $1.4mil.
But the $1.5mil provision is an interest free loan from the then owners of Docklands, Melbourne Stadiums Ltd. Its all got to do with transfer of pokies to, and using Docklands as a social club.
So 31/10/11 their debt was about $6.1mil when you add the 2 together, maybe a bit more, blew out to nearly $9mil and then ended at $5.2mil at 31/10/12. There might be $1mil or more in trade and other payables that might be semi debt as there is $1mil of accruals in that $3.6mil 2012 figure below.
But North had the $1.5mil debt to Melbourne Stadiums written off in 2013. From the Directors Report.
Significant Events after Year End
Subsequent to the financial year ended 31 October 2012, agreement was reached with a third party to release the Company and the North Melbourne Football Club Social Club Ltd from obligations to repay a $1.5m loan payable to the third party. This release was signed on 31 January 2013.
Docklands Stadium owners were pissed off with Brayshaw when he said they get a s**t deal from them in 2015.
Etihad Stadium Chief Executive Paul Sergeant has released a strong response to North Melbourne Chairman James Brayshaw's claim that his club has the "world's worst stadium deal."
According to a report at AFL.com.au, Sergeant has highlighted that the venue has helped keep North Melbourne afloat, having forgiven a significant debt incurred by the Kangaroos.
In statement to AFL.com.au on Friday night (20th March), Sergeant stated "we are disappointed by comments made by ... James Brayshaw at the North Melbourne Football Club annual general meeting in regards to Etihad Stadium.
"North Melbourne has been a valued long-time partner of Etihad Stadium and we have been of the view that the relationship was a positive one.
"Our long-term support of the club is evidenced by Etihad Stadium providing an interest-free loan of $1.5 million to North Melbourne over a period of 10 years.
"At the conclusion of this period, MSL (Etihad Stadium) forgave the debt in total.
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At first I was all “gee not a class act by Brayshaw” and then got all confused so I stopped to think…
I look forward to a future Port CEO spitting in the eye of a lender who’s just foregone $1.5m of our debt after we used their interest free facility for 10 years, especially if it was a facility cobbled together as a backhanded return of some costs they were gouging us for anyway.
THAT would be some sort of “equalisation” rather than this… “AFL standard” everywhere, of ugly rent seeking vying with just as ugly cronyism for who can screw who hardest.
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I look forward to a future Port CEO spitting in the eye of a lender who’s just foregone $1.5m of our debt after we used their interest free facility for 10 years, especially if it was a facility cobbled together as a backhanded return of some costs they were gouging us for anyway.
THAT would be some sort of “equalisation” rather than this… “AFL standard” everywhere, of ugly rent seeking vying with just as ugly cronyism for who can screw who hardest.
On iPhone using recycled electrons, via BigFooty.com mobile app
chiwigi
I’ll make tears from your Wines.
The only way North can do it is because they have a comparatively fantastic stadium deal (remember when Marvel tenants were still paid), and the AFL won’t kick them out of the league.
If we tried bottoming out like that we’d be gone, most of Melbourne don’t give a shot they are shotl just that they are from Melbourne.
If we tried bottoming out like that we’d be gone, most of Melbourne don’t give a shot they are shotl just that they are from Melbourne.
RussellEbertHandball
Flick pass expert
Its all got to do with North and others being screwed initially by the stadium deal at Docklands, they tried to move their social club there, move their pokies there, then transfer or sell their pokies to Melbourne Stadiums Ltd - North did sell them eventually, but not to them, because they made a big deal about being the only Vic club with no pokies, when the Vic government in 2010 broke up the Vic pokie duopoly and let clubs and pubs bid for pokie licences and a lot of the Vic AFL clubs have made a massive windfall out of buying entitlements so cheaply in 2010.
The AFL would have twisted Melbourne Stadiums Ltd's arm to help North out, nothing to do with a fantastic stadium deal.
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I won't be able to sleep after seeing this!
They’ll fall back into debt at some point.
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