Official Club Stuff 2018 Financial Results (links, rankings - now in post #2)

Gigantor

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#51
Just investigated a bit further what the land transfer to the dogs was all about. It's not the whole of the Whitten Oval (which presumably is owned by the local council), but it's a section of land between the oval and the West Footscray station (Geelong rd end), not 100% sure precisely where it starts, but this article suggests it's everything all the way to the station:

http://www.westernbulldogs.com.au/news/2018-04-12/planning-for-our-future
 

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#55
Just investigated a bit further what the land transfer to the dogs was all about. It's not the whole of the Whitten Oval (which presumably is owned by the local council), but it's a section of land between the oval and the West Footscray station (Geelong rd end), not 100% sure precisely where it starts, but this article suggests it's everything all the way to the station:

http://www.westernbulldogs.com.au/news/2018-04-12/planning-for-our-future
Interesting comment in that report regarding the granting of land by the Vic. Government at the Railway end that only the WB could realise the best value out that land. Probably true. The land is ex-industrial, bit grubby and difficult to develop into any other use. Together, with the development and expansion of the WF railway station (becoming a new terminus as part of Melbourne Metro), the area will get a much needed double boost.

In any case, proud of how my club is transforming itself from that bloody annoying "Battling Bulldogs" tag into a profitable, community engaged, icon of the West. Long way from "powerhouse" but (net) debt free (first time in over 40 years, club doesn't even know for sure) with $8m cash in hand and a long, long way from where we were in 1989. Like him or not, Peter Gordon is cleverly driving us forward.
 

Gigantor

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#57
Interesting comment in that report regarding the granting of land by the Vic. Government at the Railway end that only the WB could realise the best value out that land. Probably true. The land is ex-industrial, bit grubby and difficult to develop into any other use. Together, with the development and expansion of the WF railway station (becoming a new terminus as part of Melbourne Metro), the area will get a much needed double boost.

In any case, proud of how my club is transforming itself from that bloody annoying "Battling Bulldogs" tag into a profitable, community engaged, icon of the West. Long way from "powerhouse" but (net) debt free (first time in over 40 years, club doesn't even know for sure) with $8m cash in hand and a long, long way from where we were in 1989. Like him or not, Peter Gordon is cleverly driving us forward.
Agree, whichever way you slice and dice it, it's huge news, the profits, cash reserves, net assets, and the granting of this land parcel, looks like a perfect storm for the dogs. What I don't understand is why this land transfer wasn't bigger news, very hard to find out anything about it.
 

NoobPie

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#59

telsor

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#60

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#62
So without this its a loss of $1.040m as the amount below is shown as part of operating result

NOTE 1 - REVENUE
.....
(d) Other income As at 4 July 2018 the Club recognised leasehold improvements and plant and equipment assets located in the Club’s exclusive leased areas that were transferred from the Kardinia Park Stadium Trust. All assets were recognised at fair value on the date of the acquisition and will be depreciated over their assigned useful lives. The recording of this transaction led to the Club recognising a $5,026,345 contribution in the Statement of Comprehensive Income in accordance with AASB1004.


Plus there was donations shown in operating results of $2.083m to help with the ground redevelopment. This varies between clubs if its above or below the net operating result line.

The inconsistency across all clubs continue.
 
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#63
Is it just me or are there a lot of seriously large profits out there this year?
Everyone is pushing the pre depreciation "operating profit" figure, plus it looks like a lot of donations and assets sales are being included in "operating profit" rather than below the line profit.
 

telsor

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#64
Everyone is pushing the pre depreciation "operating profit" figure, plus it looks like a lot of donations and assets sales are being included in "operating profit" rather than below the line profit.
Call me old school, but at the end of the day, profits are the change in net assets.

Operating profits are that figure without one off items (for a football club, donations can be an ongoing source of revenue).

It's not rocket surgery, and I really wish they'd standardise some of the processes clubs use.


edited to add....depreciation is a normal operating expense. Profits before depreciation are just PR spin.
 

NoobPie

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#65
So you, presumably, would have booked an entire years revenue/profits from them, as well as any proceeds from their sale.
Almost certainly the transaction has not occurred yet, and certainly is not included in this “financial result”

Obviously, by extension, the revenue/profits/amortisation for an entire year would be
 
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#66
Radio 693 3AW Melb. N. Mitchell program 5.12.18

Mayor S.Rennie, Darebin Council (NE Melb.), said the Council will ban any local community club/organisation which owns poker machines (whether in Darebin, or elsewhere) from using Council facilities; or obtaining funding from the Council. This includes their sporting grounds, & other Council venues. This ban will also apply to groups who simply receive sponsorship from non-affiliated poker machine venues.

This ban will also include local clubs who don't own pokies themselves- but have club functions at poker machine venues (eg RSL Clubs)!

Reservoir JFC obtains $20,000 pa sponsorship from Reservoir RSL, which has poker machines. Northcote FC, NFL Div.1, obtains $150,000 pa from poker machine clubs. Both are very opposed to this ban.

Rennie said that poker machine venues are supposed to spend c. 8.3% of poker machine club profits on local community groups- but she said some pokie venues were spending this on themselves eg the pokie venues electricity costs.

There are 13 poker machine venues in Darebin, where their players (some of whom are addicts?) have c. $84,093,810 losses pa.

https://www.heraldsun.com.au/leader...s/news-story/6c52d74698283aa8c3a82b874043f6e8

Total Losses in Vic. in 2018, from poker machines only, were a staggering $2.695 BILLION- the vast majority of pokies are in lower socio-economic areas! Disgusting!

http://www.pokiesplayyou.org.au/gamblingnews_170818

Neighbouring Moreland Council has a similar ban.

https://www.heraldsun.com.au/leader...s/news-story/c905626ecd23b805813f72f2e573e001

Many clubs will be financially crippled with these bans- but WA survives successfully without poker machines. (outside of its casino).
IMO, they are a great evil, & I would like to see them banned throughout Aust. (including all casino pokies).
 
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Gigantor

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#72
That distribution to the Lions is getting perilously close to that of the Suns and Giants
 

telsor

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#73
That distribution to the Lions is getting perilously close to that of the Suns and Giants
The bit that always scares me about the Lions report is the line about trade payables under going concern which covers their debt to the AFL. In short, they owe another 10.2M to the league and can only really stay in business because the league doesn't ask for it to be paid, so it operates as a kind of interest free loan.

They're not the only club to do this (St Kilda does too IIRC, probably others), but I don't think any do so to this degree, and damn that's a lot to sit on the books when both parties know it'll (practically) never get paid.
 

Gigantor

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#74
The bit that always scares me about the Lions report is the line about trade payables under going concern which covers their debt to the AFL. In short, they owe another 10.2M to the league and can only really stay in business because the league doesn't ask for it to be paid, so it operates as a kind of interest free loan.

They're not the only club to do this (St Kilda does too IIRC, probably others), but I don't think any do so to this degree, and damn that's a lot to sit on the books when both parties know it'll (practically) never get paid.
I guess we can't discount the possibility of the Lions going through another golden age where they return to 30k average attendances over a 5 or 6 year period and manage to produce some operating profits.
 
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