2020 Financials Thread

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big_e

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Apr 28, 2008
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Snap shot of Port’s financial report. AGM is tonight I believe

After taking in to account one-off COVID-19 related and restructuring costs of $1.186m, depreciation and non-cash balance sheet adjustments, the Port Adelaide Football Club incurred a statutory loss of $4,040,579.

As a result, the club finished the season with additional borrowings of $4.275 million, increasing its overall debt position to $12 million.
That is a horrible position.
 

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NoobPie

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Not half as bad as St Kilda's $20 million debt
Loving the wow faces that the very sad Aussie in exile is doing on any any post that sounds bad

As it is, Stkilda has $21M in liabilities of which almost half are "non-current liabilities" and has net assets of $16M....according to the Wookies last spreadsheet post.

The AFL's / Clubs' financial circumstances are light years ahead of any other code in the country
 

The_Wookie

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Apology REH for stealing this quote from the Port page. S0 succinct.
Line of credit was always a worst case scenario from when they were anticipating a full season shutdown.

The AFL had a future fund of about 110 million prior to this, so not only did they use about half of their savings - they still have some left. 33 million in jobkeeper went a long way.
 

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RussellEbertHandball

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Line of credit was always a worst case scenario from when they were anticipating a full season shutdown.

The AFL had a future fund of about 110 million prior to this, so not only did they use about half of their savings - they still have some left. 33 million in jobkeeper went a long way.
They got rid of the official future fund in 2017. In 2020 they just used $60mil of cash holdings.

They transferred that future fund reserve to general retained earnings and are allocating $20m a year over 2017-22 years to a capital facilities reserve to build it up tp $120m.

All these funds / reserves just reflect how much cash the AFL has in the bank. The AFL doesn't do what the national Future Fund or some clubs and some sports future funds do and invest in shares, bonds, property etc.

In 2018 when the AFL showed AFL Ltd's + AFL group's financials they had $175mil in cash and the group had $209mil. In 2019 they only reported the consolidated group's position and it had cash holdings of $184mil.

In 2018 the AFL Ltd's 2 biggest assets of total assets of $476mil were cash holdings of $184m and Loans to controlled entities of $197mil of which 99% was for the purchase of Docklands Stadium. There is an outstanding bank debt against the Docklands Stadium which was over $200mil but was down to $176mil.

The 2018 AFL Financial Report shows clearly the movement in different reserves with the 2017 comparisons.

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Kwality

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Chairman Jeff* put a different spin on where we are:

“There are 12 clubs currently receiving additional subsidies from the AFL out of 18 just to survive, (so) the one thing that is certain is that there won’t be a 19th team,” Kennett said.

“Since this issue arose again, the world has changed, and it has certainly changed for the code of Australian rules football.

“The AFL is not in the financial position it was 13 months ago. It could have drawn down a great deal on its line of credit of $600 million by the end of this year if things go belly ache, which it could easily.

Kennett says AFL can’t afford Tassie team (theaustralian.com.au)

* self interest undoubtedly motivate Jeffs comments.
 

Aussie in exile

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Chairman Jeff* put a different spin on where we are:

“There are 12 clubs currently receiving additional subsidies from the AFL out of 18 just to survive, (so) the one thing that is certain is that there won’t be a 19th team,” Kennett said.

“Since this issue arose again, the world has changed, and it has certainly changed for the code of Australian rules football.

“The AFL is not in the financial position it was 13 months ago. It could have drawn down a great deal on its line of credit of $600 million by the end of this year if things go belly ache, which it could easily.

Kennett says AFL can’t afford Tassie team (theaustralian.com.au)

* self interest undoubtedly motivate Jeffs comments.
Can the AFL afford the continuing financila black holes that are GWS and the Suns?
 

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