2019 Financial Results

[RussellEbertHandball]

Will be interesting if WCE start joining just about every other club and start making the bullshit pre depreciation normal profits announcement.

They have roughly split their $59m spent on Lathlain Park as $51.17m as buildings and about $8m as plant and equipment.

The depreciation on buildings will be $1.279m a year as their notes say they are writing it off over 40 years. They wrote off 542k for this part year.

Depreciation jumped from last years $969k to $1.256mil this year which suggests in a full year it will be pushing $2mil. Will they say * it, we are strong enough to announce it as it should be, or will they join the AFL industry spin game??

 

[Rob]

Will be interesting if WCE start joining just about every other club and start making the bullshit pre depreciation normal profits announcement.

They have roughly split their $59m spent on Lathlain Park as $51.17m as buildings and about $8m as plant and equipment.

The depreciation on buildings will be $1.279m a year as their notes say they are writing it off over 40 years. They wrote off 542k for this part year.

Depreciation jumped from last years $969k to $1.256mil this year which suggests in a full year it will be pushing $2mil. Will they say fu** it, we are strong enough to announce it as it should be, or will they join the AFL industry spin game??

West Coast have never been particularly interested in making public announcements about their financial position.

They're rich enough that they couldn't give a s**t what anyone thinks.

 

[Kwality]

not sure what you're trying to say here..

for a club that's been around for 25 years, I don't think it's that controversial to suggest they contribute the same to WA footy

I dont have much time for the sort of post we get from the Tiges fans in Bay 13. Controversial no !!

 

[Kwality]

Will be interesting if WCE start joining just about every other club and start making the bullshit pre depreciation normal profits announcement.

They have roughly split their $59m spent on Lathlain Park as $51.17m as buildings and about $8m as plant and equipment.

The depreciation on buildings will be $1.279m a year as their notes say they are writing it off over 40 years. They wrote off 542k for this part year.

Depreciation jumped from last years $969k to $1.256mil this year which suggests in a full year it will be pushing $2mil. Will they say fu** it, we are strong enough to announce it as it should be, or will they join the AFL industry spin game??

Based on the investment by all clubs in new training facilities, what have (for example) the Pies done with their a $25mil upgrade in 2015, the Bombers @ Tulla, even Cooky at Geelong?

Personally its the treatment of Govt grants that peeve me most, whatever happened to abnormal income/profits?

 

[NoobPie]

[/QUOTE]

Will be interesting if WCE start joining just about every other club and start making the bullshit pre depreciation normal profits announcement.

They have roughly split their $59m spent on Lathlain Park as $51.17m as buildings and about $8m as plant and equipment.

The depreciation on buildings will be $1.279m a year as their notes say they are writing it off over 40 years. They wrote off 542k for this part year.

Depreciation jumped from last years $969k to $1.256mil this year which suggests in a full year it will be pushing $2mil. Will they say fu** it, we are strong enough to announce it as it should be, or will they join the AFL industry spin game??

The fact that west coast have repeatedly reported their financial outcome with and without the lathlain grants demonstrates this hang up of yours is misguided.

Brisbane are having their $70m investment entirely funded externally. Would the figure including the depreciation of Springwood really be more meaningful than the one without?

 

[Asapartyhat]

and that was the case from 2002-7. West coast were selling out that 43,500 seat Subiaco oval regularly to the point where they had 20,000 on the waiting list.

Some of those in the waiting list were on there for 3-5 years. Some of them ran out and of patience and became docker members.

Good that Freo were averaging around 30,000 at Subi in that 2002-7 period too

Gawd what Eagles supporters wouldn't give for only a three to five year wait for membership with tickets to home games.Its been the case forever that the wait is over five years.If the stadium capacity bumped up to 70,000 there would still be a five year waiting list .

-I like you fremaniac but we have had this exact same conversation a few times .I dont know why I bother you kind of dont listen.

 

[blaisee]

It is what it is

 

[Tiger Soze]

A 22 million dollar profit!? Jesus H tapdancing Christ!

A quick google tells me that the Tigers made a profit of 4 million in 2019 (https://www.richmondfc.com.au/news/213695/tiger-army-record-sponsorship-key-to-2019-financial-result).

Can anyone explain in laymans terms why the gap is so freaking huge? With 2 flags in 3 years I woulda thought Richmond would have made easily twice as much?

It’s called creative accounting, the number to pay attention to is the Tigers increasing their cash reserves by over $10m and also the couple of $m in prepayments.

 

[Kwality]

It’s called creative accounting, the number to pay attention to is the Tigers increasing their cash reserves by over $10m and also the couple of $m in prepayments.

Of course it is, check out The Wookies numbers & get some help.

Released Annual Reports
Rankings data is now kept here on google sheets.

 

[Tiger Soze]

TBF, 13m of that profit was government funding received to pay for a slice of their new facility at Lathlain. But take that out and it's still a $9 million profit, far in excess of anyone.

The gap is so huge because they've got a huge supporter base that are prepared to pay big time for memberships. $26.5m in membership income, $14 million in corporate hospitality income. $4.7m in signage, another $10 million from the gate. That's $55 million just from matchday. That would utterly dwarf every other club.

What’s the corporate hospitality revenue exactly, is this from corporate suites?

 

[Tiger Soze]

Of course it is, check out The Wookies numbers & get some help.

Help with what?

 

[Rob]

What’s the corporate hospitality revenue exactly, is this from corporate suites?

Partly. It would also include areas like platinum terrace, which is basically a seating area but with it's own bar and kitchen. Freo charge about a grand for a season ticket in there, but West Coast charge something like $2500 (they call it "The landing" - look it up).

 

[Les Malone]

That's exactly why Freo was invented.

Turned out well. Only won two flags since they entered the competition :frownyface:

Well yes, but Freo did deserve its own team from the beginning really.

As much of a great club WCE is, i would have much preferred existing WAFL clubs to be included in their own right or combinations of.

 

[Capriati]

Well yes, but Freo did deserve its own team from the beginning really.

As much of a great club WCE is, i would have much preferred existing WAFL clubs to be included in their own right or combinations of.

Firstly, Fremantle Football Club does not have a connection to the Fremantle clubs in the WAFL, in the same way that PAFC is the same club who have both SANFL and AFL teams.

Secondly, WAFC had petitioned for entry of existing WA club into the VFL. VFL was interested in expansion but not in admitting existing clubs in to VFL.

 

[The_Wookie]

Well yes, but Freo did deserve its own team from the beginning really.

As much of a great club WCE is, i would have much preferred existing WAFL clubs to be included in their own right or combinations of.

its not that they didnt try. Oakley says East and South Fremantle apparently lauched a joint bid in 1987 for a VFL team to enter in 1990. (The Phoenix Rises pg. 156)

 

[Les Malone]

Firstly, Fremantle Football Club does not have a connection to the Fremantle clubs in the WAFL, in the same way that PAFC is the same club who have both SANFL and AFL teams.

Secondly, WAFC had petitioned for entry of existing WA club into the VFL. VFL was interested in expansion but not in admitting existing clubs in to VFL.

I am aware of point one, but the area as a traditional football stronghold did deserve recognition in the form of a team.

Secondly despite the distance and cost factor, i would have been keen on a promotion/relegation system across every club in Australia like soccer in the UK, that system appeals to me the most.

 

[The_Wookie]

Secondly, WAFC had petitioned for entry of existing WA club into the VFL. VFL was interested in expansion but not in admitting existing clubs in to VFL.

This isnt necessarily true. They asked after a WA team joining in 1982 but didnt want a WAFL club to be that vehicle. In 1984, they resolved they wanted a composite team.

• 1980, October 15. East Perth makes formal application to join the VFL. (Behind the Play pg 179)
• 1981, July 1. The WAFL board resolved to ask the VFL of their opinion of a WA team joining the VFL competition and for an iundication of the VFLs intentions regarding the development of football in Australia (Behind the Play pg 180)
• 1982, April. The WAFL calls a special meeting of its Directors to discuss the formation of a policy on a national competition. (Behind the play pg 183)
• 1983, May 2. – The WAFL requests immediate AID from the WA Goverment to meet a 1.9 million deficit that had come about due to the maintenance of league venues. The Government sets up a task force headed by Bill Mitchell to investigate footballs financial problems and long term needs. The Report would recommend ground rationalisation – down to four, including Subiaco and the WACA, as well as an independent commission. (Behind the Play pg 187)
• 1984, February 28. The WAFL board hands control of football in WA over to a newly formed WAFL board. In return the Givernment took over repayments on a 4 million loan used to finance the development of Subiaco Oval. (Behind the Play pg 190)
• 1984 – June 15. WA Football Commissioner appraches the SANFL to discuss entering the VFL at the same time, but leaves under the impression the SANFL arent interested (Headliners – Birth of the West Coast Eagles)
• 1984 – September 4. Meeting of club representatives organised by John Elliot and Ian Collins proposing the setting up of a new national competition, with financial conditions set, and clubs to be invited from WA and SA. SA is uninterested, but interest from WA was reported as warm. 11 VFL club presidents are reported in favour (Geelongs president wasnt present).
• 1984 – September 13. The WAFL says its ready to join the VFL, but wants composite teams not individuals. Elliot was reported to have talked to Swan District and Claremont. The SANFL condemned the VFL for keeping it in the dark.
• 1985, November 7. The NFL releases its own play for a national compeition, with a 12 team structure featuring 9 teams from Melbourne and one each from Sydney, Perth and Adelaide. It also proposed an independent form of administration rather than the VFL’s Melbourne centrered power base”. The WAFL supports the NFL option, going so far as to send its CEO to talk to Macquarie Bank in Sydney about getting $100 million to float a competition, with six Melbourne clubs saying they’d break away. (Behind the Play pg 198)
• 1986, February. Executives from the SANFL, WAFL and VFL meet to establish the format of a new competition. (Behind the Play pg 200)
• 1986 – WAFL Presidents vote 6-2 for joining the VFL. Only East Fremantle and Swan Districts vote against. (Headliners – Birth of the West Coast Eagles)
• 1986 – August 7. SA and WA say they will reconsider joining the national competition after the VFL voted to retain all 12 clubs in the league. WA and SA had been working under the belief that there were be some rationalisation and the league would be composed of 12 clubs and not 14.
• 1986, August 26. All six WAFL directors and six of the eight clubs voted to apply to join the VFL in 1987. Sth Fremantle and Swan Districts vote against. (Behind the play, pg 202). To get the clubs votes a $200,000 in finanical support was offered to each club (Behind the play pg 218) The 4 million license fee is demanded up front by the VFL instead of over 10 years as had been originally proposed (Behind the play pg 215)
• 1987 - East and South Fremantle apparently lauched a joint bid for a VFL team to enter in 1990. (The Phoenix Rises pg. 156)

 

[Les Malone]

I could see 4 WA clubs joining an expanded VFL

East Perth/West Perth

South/East Freo/Peel

Subi/Claremont

Perth/Swan Districts

And yes i know it was never going to happen and never will happen.

 

[Capriati]

This isnt necessarily true. They asked after a WA team joining in 1982 but didnt want a WAFL club to be that vehicle. In 1984, they resolved they wanted a composite team.

• 1980, October 15. East Perth makes formal application to join the VFL. (Behind the Play pg 179)
• 1981, July 1. The WAFL board resolved to ask the VFL of their opinion of a WA team joining the VFL competition and for an iundication of the VFLs intentions regarding the development of football in Australia (Behind the Play pg 180)
• 1982, April. The WAFL calls a special meeting of its Directors to discuss the formation of a policy on a national competition. (Behind the play pg 183)
• 1983, May 2. – The WAFL requests immediate AID from the WA Goverment to meet a 1.9 million deficit that had come about due to the maintenance of league venues. The Government sets up a task force headed by Bill Mitchell to investigate footballs financial problems and long term needs. The Report would recommend ground rationalisation – down to four, including Subiaco and the WACA, as well as an independent commission. (Behind the Play pg 187)
• 1984, February 28. The WAFL board hands control of football in WA over to a newly formed WAFL board. In return the Givernment took over repayments on a 4 million loan used to finance the development of Subiaco Oval. (Behind the Play pg 190)
• 1984 – June 15. WA Football Commissioner appraches the SANFL to discuss entering the VFL at the same time, but leaves under the impression the SANFL arent interested (Headliners – Birth of the West Coast Eagles)
• 1984 – September 4. Meeting of club representatives organised by John Elliot and Ian Collins proposing the setting up of a new national competition, with financial conditions set, and clubs to be invited from WA and SA. SA is uninterested, but interest from WA was reported as warm. 11 VFL club presidents are reported in favour (Geelongs president wasnt present).
• 1984 – September 13. The WAFL says its ready to join the VFL, but wants composite teams not individuals. Elliot was reported to have talked to Swan District and Claremont. The SANFL condemned the VFL for keeping it in the dark.
• 1985, November 7. The NFL releases its own play for a national compeition, with a 12 team structure featuring 9 teams from Melbourne and one each from Sydney, Perth and Adelaide. It also proposed an independent form of administration rather than the VFL’s Melbourne centrered power base”. The WAFL supports the NFL option, going so far as to send its CEO to talk to Macquarie Bank in Sydney about getting $100 million to float a competition, with six Melbourne clubs saying they’d break away. (Behind the Play pg 198)
• 1986, February. Executives from the SANFL, WAFL and VFL meet to establish the format of a new competition. (Behind the Play pg 200)
• 1986 – WAFL Presidents vote 6-2 for joining the VFL. Only East Fremantle and Swan Districts vote against. (Headliners – Birth of the West Coast Eagles)
• 1986 – August 7. SA and WA say they will reconsider joining the national competition after the VFL voted to retain all 12 clubs in the league. WA and SA had been working under the belief that there were be some rationalisation and the league would be composed of 12 clubs and not 14.
• 1986, August 26. All six WAFL directors and six of the eight clubs voted to apply to join the VFL in 1987. Sth Fremantle and Swan Districts vote against. (Behind the play, pg 202). To get the clubs votes a $200,000 in finanical support was offered to each club (Behind the play pg 218) The 4 million license fee is demanded up front by the VFL instead of over 10 years as had been originally proposed (Behind the play pg 215)
• 1987 - East and South Fremantle apparently lauched a joint bid for a VFL team to enter in 1990. (The Phoenix Rises pg. 156)

This is really interesting. Do you know who the 6 rogue VFL teams were?

 

[Les Malone]

This is really interesting. Do you know who the 6 rogue VFL teams were?

Melbourne big 4 and probably Geelong, Hawthorn ( maybe).

Elliot was behind breaking away if my memory serves me right.

 

[The_Wookie]

This is really interesting. Do you know who the 6 rogue VFL teams were?

Ive only ever seen it mentioned in Behind the Play and its not specific.

 

[The_Wookie]

Melbourne big 4 and probably Geelong, Hawthorn ( maybe).

Elliot was behind breaking away if my memory serves me right.

• 1984 – September 4. Meeting of club representatives organised by John Elliot and Ian Collins proposing the setting up of a new national competition, with financial conditions set, and clubs to be invited from WA and SA. SA is uninterested, but interest from WA was reported as warm. 11 VFL club presidents are reported in favour (Geelongs president wasnt present).
• 1984 – September 13. The WAFL says its ready to join the VFL, but wants composite teams not individuals. Elliot was reported to have talked to Swan District and Claremont. The SANFL condemned the VFL for keeping it in the dark.
• 1984 – September 12. John Elliot presents his plan to the VFL board at an emergency meeting “noting that his material had input from the Collingwood president, Ranald Macdonald, and “other club representatives” (The Phoenix Rises pg 23)
• 1984 – September 26. VFL subcommittee says changes could not be in place for 1985. (The Phoenix Rises, pg. 24)
• 1984 – November 7 – ““after long and careful consideration it was resolved “that the VFL Board endorse in principal the Task Force recommendation that the existing VFL Board of Directors structure be replaced by the appointment of a full-time Commissioner and four part-time Commissioners to conduct the administrative affairs of the League on a trial basis” (The Phoenix Rises, pg 24)
• 1984 – December 20. Plans leaked that the league was considered a franchise system for all clubs in 1985.
• 1985 – October. The League adopts the Blue Report – “VFL Football: Establishing the Basis for Future Success” – which said in part – The underlying causes of the difficulties of the last few years are largely external to the game itself and to its management. In fact, if anyone were to be held “responsible” for the problems of the competition, there would be two culprits, the first being the changing activity patterns in society; the second being the inevitable consequences of change from a near-amateur to a near-professional competition … The current focus on the game itself (violence, evenness, facilities, prices) or its management (club and VFL competence) are distractions from much more fundamental problems which need to be addressed” (The Phoenix Rises pg. 46)
• 1985, November 7. The NFL releases its own play for a national compeition, with a 12 team structure featuring 9 teams from Melbourne and one each from Sydney, Perth and Adelaide. It also proposed an independent form of administration rather than the VFL’s Melbourne centrered power base”. The WAFL supports the NFL option, going so far as to send its CEO to talk to Macquarie Bank in Sydney about getting $100 million to float a competition, with six Melbourne clubs saying they’d break away. (Behind the Play pg 198)
• 1985 – December. All clubs sign license agreements with the league/ (The Phoenix Rises pg.53)

 

[Kwality]

This is really interesting. Do you know who the 6 rogue VFL teams were?

Check out The Wookie website, its a mine of info.

 

[The_Wookie]

Check out The Wookie website, its a mine of info.

it would be if i hadnt managed to kill it last night

 

[Les Malone]

• 1984 – September 4. Meeting of club representatives organised by John Elliot and Ian Collins proposing the setting up of a new national competition, with financial conditions set, and clubs to be invited from WA and SA. SA is uninterested, but interest from WA was reported as warm. 11 VFL club presidents are reported in favour (Geelongs president wasnt present).
• 1984 – September 13. The WAFL says its ready to join the VFL, but wants composite teams not individuals. Elliot was reported to have talked to Swan District and Claremont. The SANFL condemned the VFL for keeping it in the dark.
• 1984 – September 12. John Elliot presents his plan to the VFL board at an emergency meeting “noting that his material had input from the Collingwood president, Ranald Macdonald, and “other club representatives” (The Phoenix Rises pg 23)
• 1984 – September 26. VFL subcommittee says changes could not be in place for 1985. (The Phoenix Rises, pg. 24)
• 1984 – November 7 – ““after long and careful consideration it was resolved “that the VFL Board endorse in principal the Task Force recommendation that the existing VFL Board of Directors structure be replaced by the appointment of a full-time Commissioner and four part-time Commissioners to conduct the administrative affairs of the League on a trial basis” (The Phoenix Rises, pg 24)
• 1984 – December 20. Plans leaked that the league was considered a franchise system for all clubs in 1985.
• 1985 – October. The League adopts the Blue Report – “VFL Football: Establishing the Basis for Future Success” – which said in part – The underlying causes of the difficulties of the last few years are largely external to the game itself and to its management. In fact, if anyone were to be held “responsible” for the problems of the competition, there would be two culprits, the first being the changing activity patterns in society; the second being the inevitable consequences of change from a near-amateur to a near-professional competition … The current focus on the game itself (violence, evenness, facilities, prices) or its management (club and VFL competence) are distractions from much more fundamental problems which need to be addressed” (The Phoenix Rises pg. 46)
• 1985, November 7. The NFL releases its own play for a national compeition, with a 12 team structure featuring 9 teams from Melbourne and one each from Sydney, Perth and Adelaide. It also proposed an independent form of administration rather than the VFL’s Melbourne centrered power base”. The WAFL supports the NFL option, going so far as to send its CEO to talk to Macquarie Bank in Sydney about getting $100 million to float a competition, with six Melbourne clubs saying they’d break away. (Behind the Play pg 198)
• 1985 – December. All clubs sign license agreements with the league/ (The Phoenix Rises pg.53)

For good and bad it has been the independent commission that saved the game from itself really, although i would like to see a real independent body take control of the laws and funding the game below the AFL.