Resource 2016 Annual Reports Thread - Club Comparisons post #002

[Kwality]

did this 2 years ago apparently

More theory than fact, when did all clubs appoint the President/chairperson/public face?

I would hope long term the AFL at the least progressively moves towards full independence of these clubs[/QUOTE]

 

[The_Wookie]

More theory than fact, when did all clubs appoint the President/chairperson/public face?

I would hope long term the AFL at the least progressively moves towards full independence of these clubs

[/QUOTE]

its not theory at all. It was taken from the clubs constitutions.

 

[Kwality]

its not theory at all. It was taken from the clubs constitutions.[/QUOTE]

Diddums, in the vernacular it is used to suggest the theory is not the fact .... but of course you are correct if that makes you fell better .. so, when is the last time a pres/chair/face of a club was elected by the members in a contest.
Not being critical of Ed, he's done the Pies pride, has he ever been elected by a contested vote of the members.

 

[RussellEbertHandball]

Whilst it understandable for the two newest teams (given their infancy and modest followings) to be under AFL control, there is no reason this should be the case for the Swans, Power and Crows who have all been around long enough and have large memberships.

Not only there is a conflict of interest for the AFL, but I can't see that these clubs could have any say in the appointment of commissioners or major decisions given their lack of independence from the League.

The AFL are control freaks. They love it and would love to do the same to the Vic clubs if not for the historical nature of it being an expanded Vic competition so the Vic clubs kept their existing structure, but when you give Vic clubs $5.0m and $10.0m bank guarantees from the AFL, the AFL have the majority of them by the balls, even if the old constitutions don't allow for a legal takeover.

 

[RussellEbertHandball]

its not theory at all. It was taken from the clubs constitutions.

Diddums, in the vernacular it is used to suggest the theory is not the fact .... but of course you are correct if that makes you fell better .. so, when is the last time a pres/chair/face of a club was elected by the members in a contest.
Not being critical of Ed, he's done the Pies pride, has he ever been elected by a contested vote of the members.

I'd put $10 on Collo v Elliot in 2002 or was it 2003 as the last stoush for a presidency nomination. The Richmond one in 2016 didn't get much past a couple of press releases.

 

[Prince Imperial]

The AFL are control freaks. They love it and would love to do the same to the Vic clubs if not for the historical nature of it being an expanded Vic competition so the Vic clubs kept their existing structure, but when you give Vic clubs $5.0m and $10.0m bank guarantees from the AFL, the AFL have the majority of them by the balls, even if the old constitutions don't allow for a legal takeover.

Reasonable points but it's not just the Vic clubs - the membership controlled Lions are in the worst financial position of all in terms of borrowings and outstanding trade payables to the AFL.

 

[The_Wookie]

I'd put $10 on Collo v Elliot in 2002 or was it 2003 as the last stoush for a presidency nomination. The Richmond one in 2016 didn't get much past a couple of press releases.

Pratt v Smorgon 2007 I think.

 

[RussellEbertHandball]

Reasonable points but it's not just the Vic clubs - the membership controlled Lions are in the worst financial position of all in terms of borrowings and outstanding trade payables to the AFL.

And they have them by the balls.

 

[Kwality]

Reasonable points but it's not just the Vic clubs - the membership controlled Lions are in the worst financial position of all in terms of borrowings and outstanding trade payables to the AFL.

Bombers guaranteed for $10 mil - highest AFL guarantee.

 

[NoobPie]

did this 2 years ago apparently

Awesome collation! I agree little with Kwality but I do agree that with the hope that the AFL at least progressively transfers the numbers from the 2nd column into the first one (in addition to the planned devolution of the SA clubs).

I would have thought in the shorter term offering a couple of positions to members at the GWS and GC would offer a sense to the members that they are genuinely that - ie members

 

[Prince Imperial]

Bombers guaranteed for $10 mil - highest AFL guarantee.

Yeah but its not just borrowings and the AFL guarantee. The Lions annual report indicates they have $8.8m in trade payables owing to the AFL that are not being pursued plus about $5.5m of borrowings. I reckon the Bombers will recover a lot faster than the Lions as well.

 

[Kwality]

The latest revelations with financial implications for The Bombers:
http://www.sbs.com.au/news/article/2017/03/09/bombers-reached-out-mick-gatto-reports

Essendon boss Lindsay Tanner dismissed the allegations as the acts of 'disgruntled ex-employees'.

"Two disgruntled ex-employees have made a number of false and unsubstantiated allegations against the club," Tanner said.

Ka-ching ....

 

[The_Wookie]

A more detailed Port Adelaide Annual Report has been sourced from ASIC thanks to RussellEbertHandball. Its now available from here.

 

[bombersfan4000]

Yeah but its not just borrowings and the AFL guarantee. The Lions annual report indicates they have $8.8m in trade payables owing to the AFL that are not being pursued plus about $5.5m of borrowings. I reckon the Bombers will recover a lot faster than the Lions as well.

i went to the Essendon AGM last year, it was a bit of a politician's speech, but the club did confirm it had been difficult times (DUH) but will have the debts covered and paid off in the next few years

revenue was down last season, especially with the sponsorship dollars with winning the spoon, but one has to remember a large chunk of the debt is carried over from the building of the new HPF out in tullar marine

 

[bombersfan4000]

The latest revelations with financial implications for The Bombers:
http://www.sbs.com.au/news/article/2017/03/09/bombers-reached-out-mick-gatto-reports

Essendon boss Lindsay Tanner dismissed the allegations as the acts of 'disgruntled ex-employees'.

"Two disgruntled ex-employees have made a number of false and unsubstantiated allegations against the club," Tanner said.

Ka-ching ....

a former politician giving a very politicians answer

 

[The_Wookie]

Adelaides annual report thanks to deaneus
http://footyindustry.com/files/2016 Reports/Adelaide 2016 Annual Report.pdf

This just leaves Gold Coast and we're done for another year

 

[RussellEbertHandball]

Michelangelo Rucci has been struggling with the reports the 2 SA clubs have put out and in particular the spinning of Adelaide's results and the minimalist approach by Port. Kwality will like this article fom last Thursday and to a lesser extend the 2nd one on Saturday.

http://www.adelaidenow.com.au/sport...l/news-story/5417cf8552b824de38c1b410ba158a4b
Adelaide’s announcement last week of a cash operating profit of $1.46 million profit - and a statutory loss after depreciation of $1.3 million - has certainly left many confused. Are the Crows doing well or not financially? It is 14 years since the Institute of Chartered Accountants blasted the AFL and its clubs for not being consistent nor transparent with their financial reports.

Today, the annual financial accounts are not only more difficult to interpret, particularly on a club-by-club basis as the 18 clubs use differing processes, but also more difficult to secure for analysis.Crows members are needing to spend $39 with the Australian Securities and Investment Commission - and some do - to get the Adelaide Football Club accounts after being turned away from the club’s front desk at West Lakes. And it is no better at Port Adelaide even though the Power does at least offer some financial paperwork at its members’ meetings at Alberton. Try finding the full financials on the club website.
http://www.adelaidenow.com.au/sport...l/news-story/5417cf8552b824de38c1b410ba158a4b

Rooch must have noted the Wookie's good work. Its $38 not $39 to download from Asic Rooch. He obviously hasn't spent the money to download Freo's and West Coast's annual report as they are the best, being fully detailed and both their Cash Flow Statement is GST exclusive and have a note reconciling their net profit after tax to their net cash flows from operating activities. So because their financials aren't downloadable for free from the clubs' website he opts for Hawthorn being the best. The Hawks and Collingwood are the next best after the 2 WA clubs but both their Cash Flow statements are GST inclusive and don't have a a note reconciling their net profit after tax to their net cash flows from operating activities.

http://www.goldcoastbulletin.com.au...a/news-story/c200c777526722ff941e50db5fb630e2
Fine print
HAWTHORN wins — yet again. For transparency, it is difficult to go past the Hawks when it comes to access to the Victorian-based AFL club’s financial documents and annual reports. By contrast, both SA-based clubs, Adelaide and Port Adelaide, have a major fail, particularly in an era when AFL units insist they are being inclusive with their digital platforms.

Hawthorn certainly is. The Hawks have every annual report and detailed financial summaries from 2007 on their website. In response, Port Adelaide president DAVID KOCH has vowed to deliver the same for Power members on his club’s website.

And at a time when there are many apples, oranges and pineapples in the financial accounts of the 18 AFL clubs — particularly on whether depreciation is put “above or below the line” to influence profits — Koch insists no-one can take issue with how Port Adelaide has reported its financials since he joined the board in 2012. “We’ve stuck to proper accounting standards,” he says. That is with depreciation above the line.
http://www.goldcoastbulletin.com.au...a/news-story/c200c777526722ff941e50db5fb630e2

 

[Kwality]

Well said REH, its not going to be an AFL accredited journo that will do the analysis, the AFL media are still into the PR releases, regurgitating the spin.

 

[The_Wookie]

 

[The_Wookie]

 

[RussellEbertHandball]

View attachment 346683

Is that the first year the AFL have put in an accounting adjustment line?? I wonder if its a provision and reconciling with the clubs so all 18 clubs annual reports added together total, shows what the AFL total shows.

 

[The_Wookie]

Is that the first year the AFL have put in an accounting adjustment line?? I wonder if its a provision and reconciling with the clubs so all 18 clubs annual reports added together total, shows what the AFL total shows.

first i can recall.

 

[The_Wookie]

Minor differences in what the clubs report as AFL income and what the AFL reports as distributions to clubs, partly i think due to clubs taking the afl membership revenue and including it in their own.

AFL Revenue [AFL Report]

• GWS - $23,110,553 (includes match reciepts) [AFL $21,548,374]
  
• Gold Coast - $17,194,594 (AFL Report)
  
• St Kilda - $17,125,673 [AFL $18,566,589]
  
• Brisbane - $16,753,407 [AFL $17, 532 ,922]
  
• Western Bulldogs - $15,068,488 [AFL $17,610,181]
  
• North Melbourne - $13,803,488 [AFL $15,022,303]
  
• Port Adelaide - $13,206,665 (AFL Report)
  
• Sydney - $12,940,423 [AFL $12,488,957]
  
• Melbourne - $12,758,742 [AFL $14,799,452]
  
• Richmond - $10,478,488 [AFL $12,358,925]
  
• Carlton - $ 10,238,834 [AFL $11,607,942]
  
• Adelaide - $10,138,488 [AFL $10,553,565]
  
• Essendon - $9,824,470 [AFL $11,914,715]
  
• Hawthorn - $9,788,488 [AFL $11,614,683]
  
• Fremantle - $9,713,488 [AFL $10,563,307]
  
• Geelong - $9,512,533 [AFL $10,787,483]
  
• West Coast - $9,388,488 [AFL $11,703,240]
  
• Collingwood - $8,888,484 [AFL $11,304,689]

 

[The_Wookie]

Is that the first year the AFL have put in an accounting adjustment line?? I wonder if its a provision and reconciling with the clubs so all 18 clubs annual reports added together total, shows what the AFL total shows.

The key financial highlights were as follows:
„

• Revenue increased by $11.0 million to $517.0 million;
• Operating expenditure increased by $18.8 million to $186.8 million due to revenue related increases, costs associated with the acquisition process of Etihad Stadium, expenditure required to launch the AFL’s Women’s Competition and legal costs in respect of Essendon Football Club matters;
• The operating surplus before distributions decreased by two per cent to $330.5 million;

The AFL provided distributions of $348.3 million in 2016, primarily comprised of the following250.4 million to AFL clubs

• $41.7 million of game development grants
• $22.3 million to the AFLPA
• $10.6 million to the development and improvement of facilities and grounds
• $5.5 million to the development of the new markets
• $1.3 million to corporate and social responsibility initiatives

„
In addition, the AFL recorded an accounting adjustment of $16.5 million, $11.0 million of which related to distributions to new markets and $5.5 million of which related to club future fund distributions over the 2012 to 2016 period.
„
After these distributions, which include the $16.5 million accounting adjustment outlined above, the AFL’s net profit decreased by $20.3 million in 2016 to a $17.8 million loss which was in line with the 2016 budget.

 

[The_Wookie]

This net deficit arises from the following:
„

• Recognising as an expense an amount of $11 million of new market funding that was carried on the AFL’s Balance Sheet but which was not able to be recouped within the period;
• Recognising as an expense an amount of $5.5 million of club future fund distributions made during 2012 to 2016 that was carried on the AFL’s Balance Sheet but which was not able to be recouped within the period;
• $2.5 million of non-operating items incurred during the year, comprised of net interest and depreciation.

On an operating basis, excluding the $19 million of adjustmentsabove, the AFL made a $1.2 million operating surplus.

The consolidated result, which includes all of the AFL’s controlled state subsidiaries, produced a net deficit of $15.5 million, with all state subsidiaries and related entities recording operating surpluses.