Never mind, I'm sure when the other mob's results are announced Ch7 will make several mentions of them still being stuck at the derelict Football Park site without any where else to go yet.
Official Club Stuff 2021 Financial Results
- Thread starter Schulzenfest
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Never mind, I'm sure when the other mob's results are announced Ch7 will make several mentions of them still being stuck at the derelict Football Park site without any where else to go yet.
Tbf the crows just had to one up our covering of bays, which in hindsight was 9 years ahead of the curve with 2020 afl teams cracking those bad boys out for matches in the eastern states.
We just covered a few seats, they just removed what the seats were affixed to
So the Chequeside Tavern is still there? Wow. Who the * would go there?
They renamed it to the mosaic hotel.
bomberclifford
Importer/Exporter
I still don’t understand why they don’t develop this as their club facilities.
Seems like a ‘no brainer’ to me.
chiwigi
I’ll make tears from your Wines.
Because they are getting a nice fakelaki to move.
RussellEbertHandball
Flick pass expert
1,600 houses and apartments means enough people to use it as their local. Still owned and managed by SANFL.
RussellEbertHandball
Flick pass expert
Here is my shorthand version of 2021 vs 2020.
In 2020 Jokeeper receipts where $3.71mil. If Port achieved what the Melbourne clubs did, as per their annual reports, of between 35% and 45% of their 2020 figure in their 2021 accounts, then that's about $1.5mil in 2021 if we use 40%.
The $3.71mil Jobkeeper amount is shown as part of the $39.68mil of 2020 revenue.
That means the $9.613mil increase in revenue was actually about $11.8mil when you remove the Jobkeeper component.
So my best guess of where the $11.8mil came from
1. Increased AFL distribution - about $3mil (most of that used to pay the players increased salaries)
2. Increased corporate sponsorship - say $1.5mil - KFC came onboard, MG upped their sponsorship
3. Game day $2.40/attendee from an extra 216,000 attendees, selling pre game function tickets, selling more advertising, selling more corporate boxes and no refunds - say $1mil
4. Increased membership receipts, 10k extra members and 10k extra as per AFL audited figures, no credits in 2021, but credits carried forward from 2020 - say $1.5mil
5. Increased merchandise sales - say $300k - 2020 was a record year by a long way according to last AGM.
6. Increased venues revenue - maybe $500k, hard to tell because open more often, but kitchen closed.
7. Donations for redevelopment of the Port Club - $4mil.
Most if not all of the increased AFL distribution was used to pay the players getting a 37% increase in total payments ie amounts inside and outside the Salary cap and ASA cap.
And would make up most of the $3.6mil increase in expenses.
www.afl.com.au
The summary shows that in 2021, AFL clubs paid a total of $233.9 million in player payments, before deductions allowed for injury allowances, veterans’ list payments, finals incentives and other reasons, increasing 37.53 per cent from the 2020 figure of $170.0 million.
In 2020 Jokeeper receipts where $3.71mil. If Port achieved what the Melbourne clubs did, as per their annual reports, of between 35% and 45% of their 2020 figure in their 2021 accounts, then that's about $1.5mil in 2021 if we use 40%.
The $3.71mil Jobkeeper amount is shown as part of the $39.68mil of 2020 revenue.
That means the $9.613mil increase in revenue was actually about $11.8mil when you remove the Jobkeeper component.
So my best guess of where the $11.8mil came from
1. Increased AFL distribution - about $3mil (most of that used to pay the players increased salaries)
2. Increased corporate sponsorship - say $1.5mil - KFC came onboard, MG upped their sponsorship
3. Game day $2.40/attendee from an extra 216,000 attendees, selling pre game function tickets, selling more advertising, selling more corporate boxes and no refunds - say $1mil
4. Increased membership receipts, 10k extra members and 10k extra as per AFL audited figures, no credits in 2021, but credits carried forward from 2020 - say $1.5mil
5. Increased merchandise sales - say $300k - 2020 was a record year by a long way according to last AGM.
6. Increased venues revenue - maybe $500k, hard to tell because open more often, but kitchen closed.
7. Donations for redevelopment of the Port Club - $4mil.
Most if not all of the increased AFL distribution was used to pay the players getting a 37% increase in total payments ie amounts inside and outside the Salary cap and ASA cap.
And would make up most of the $3.6mil increase in expenses.
AFL 2021 Total Player Payments Summary for Annual Report
The AFL has released its Total Player Payments information for the 2021 season
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- Jul 1, 2017
- 3,177
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- AFL Club
- Port Adelaide
They build a multi story retirement home on the boulevard. Packed house on tuesdays.
I look forward to the level of questions vetted through to be essentiallyAGM is virtual. You can submit your questions. Being read out and fully addressed is another thing
Email sent an hour ago.
The Port Adelaide Football Club wishes to advise that our Annual General Meeting will be held virtually via a live stream on Friday 18 February, starting at 6pm ACDT.
The Annual General Meeting will include presentations and a member Q&A session with Chairman David Koch, Chief Executive Matthew Richardson, AFL Senior Coach Ken Hinkley and Head of AFLW Juliet Haslam.
Members have the opportunity to submit a question about any area of the club ahead of the event, with the most common themes of questions to be addressed by the key speakers on the night. Click here to submit your question.
To attend the virtual Annual General Meeting on Friday, you will need to click on the button below.
For any enquiries or questions regarding the event, please email events@pafc.com.au.
We look forward to seeing you virtually on Friday night.
Click here to watch live from 6pm Friday
What about the busses?
RussellEbertHandball
Flick pass expert
I will stick up for the old dears who ask about the buses.
Their generation weren't encouraged, or some even allowed to drive. If they did, they probably have stopped for safety reasons. Hubby probably has died, the kids have moved on and their friends they go to the footy with don't drive.
They were probably front row at Alberton and Footy Park, in the pouring rain hurling abuse at the oppo players and giving them the odd good whack with an umbrella. Probably been doing it since the 1950's and 1960's.
It was more a dig at how putting questions online makes the whole process a lot more controlled and predictable
I dgaf about the people asking about the busses or raffles ect but it will remove any "hard" questions
GremioPower
Taking notes of policy re: bikini/lingerie images
- May 26, 2017
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Thank you! Awesome news!Yes I said we would have a decent profit and how big was dependent on how much of the $5mil collected for the Port Club redevelopment was included, in an answer to your question before Christmas and explained in the link below.
But I said I expect normal operating profit to be $2-$3mil outside these donations. See
Resource - 2022 Membership - 63,240 as at August 25th
Legend :) I literally typed 'port membership choose card' into google and found it.www.bigfooty.com
The double collecting of membership fees in 2021 financial year ( ie 2021 auto renewals started in Nov 2020, and 2022 memberships in Oct 21) didn't affect our profit figure in either year, as any membership fees collected early are an Unearned Revenue liability item in the balance sheet, but it meant our debt blew out as at 31st Oct 2020, because we didn't collect about $2mil of 2021 membership fees before balance date to offset against our debt.
This result is driven by 2 things;
1. Revenue was slashed by 36% in 2020, from $58.33mil to $39.68mil and now are back to $49.3mil or only 85% of 2019 revenue mainly due to having at least 50% crowds at all our games, AND heavy Covid cost cutting imposed in 2020 has been heavily maintained in 2021, so our costs went up somewhat but are around 80% of 2019.
Our staff employee numbers went from 119 in February 2020, to 96 in October 2020, to 81 in January 2021 to 90 in January 2022.
Plus we don't have two large one off items this year - $1.18mil spent on covid redundancy costs and costs spent on 2020 china game that had to be cancelled, and don't have $1.06mil of expenses relating to prior years that were put thru the books in 2020.
2. Donations for the Port Club redevelopment have been capitalized, not expensed and gone straight to the bottom line. How much of the $5mil?? I don't know.
If the club was smart, they would have said to the benefactors who contributed large sums say $50k+ or $100k+, pay half in late June and you will get an ASF eligible projects tax deduction for the tax return you lodge in the next couple of months, and pay the other half in December as we wont need the cash until then, you get your tax deduction when you lodge your tax return after June 2022 and we show this half as income in the 2022 accounts.
Yeah, I don't believe the result. Not saying illegal but financial engineering. Let's look over a 3+ year period. All part of the clubs optics and leadership style of "nothing to see here"
RussellEbertHandball
Flick pass expert
Specifically what don't you believe?
To be fair I think the club have given us some reason to be wary over recent years with some creative accounting (all clubs seem to do the same).
However having seen the breakdowns of the boffins on here it seems like this one is genuinely very positive.
Hopefully we keep the tight ship for as long as possible as I come returns to normal and smash out the debt before it gets a chance to bloat again.
It is amazing how tough times can be great for removing inefficiencies and duplications.
It's why there are often booms after recessions.
Sustainable revenue streams and constrained expenditure post covid impacts
Doctor Feel
Shitposter In Chief
Imagine thinking this isn't an actual loss lol
Well I believe what REH says on financials. I say it is good news. But I guess not everyone can pleased.
RussellEbertHandball
Flick pass expert
We have basically been a breakeven club since we entered the AFL bare 2 or 3 years at the start, or a loss making club when we have bad years especially 2008-13.
Heavily driven by poor stadium deal at Footy Park, where we couldn't bank $$$ in the good years for a rainy day. Brisbane in their 4 good years banked $10mil, we banked nothing in the same 4 good years due to difference in stadium deals. If it had been 2 flags vs 2 rather than 3 v 1 the difference might have been $7mil or $8mil not $10mil.
A better deal at AO, but we have to max it out to max out our footy department spend and only really make a decent profit if we have an excellent year - pre Covid situation.
The majority of AFL clubs have a $2mil swing between a $1mil profit and $1mil loss between a good to very good year and a bad year on field.
Most Vic clubs got a massive free kick from the breakup of the pokie duopoly in 2010, that has helped when they have bad years. Our pokies contribute very little, thanks to Mr X.
There are only four or five clubs who are bullet profit and can make decent profits if they spend 3 or 4 years in the bottom 4.
We are like the majority, a cyclical club dependent on our on field results to do well financially.
They say don't waste a crisis. Our club has been forced to restructure and rework things. That's why we have gone from 119 to 81 staff and are only at 90 at the moment.
Is that lower staff level sustainable?? Probably not when the new pub opens, the museum opens and the expanded retail store opens in a couple of months time, but we will be employing people because we have new/increased revenue streams to pay for them. But other cutbacks are sustainable.
Many years ago when we were in big trouble I wrote we need to make a bigger return out of the $4mil+ asset that is the Port Club. I wrote its a great asset that makes a bit of money, but had to contribute more.
When the redevelopment is finished it will basically be a $10mil asset and the plans are for it to be a major contributor to the club. AFLW games at Alberton means the club has the opportunity to make money in the previous "dead months."
The AFL isn't going to lift the $3.5mil cut in footy ops soft cap by much, so those expenses wont blow out.
We have never had 3 joint major sponsors before and effectively will have a 4th as Santos joins up for AFLW.
Pirate Life are making a series of beers where a % of sales comes back to the club. If we are really smart, and Pirate Life get fully behind it, they could contribute the equivalent of what a JMS contributes each year.
In 2019 we made a loss of $700k after depreciation and before Koch's dodgy revaluations.
The 2019 profit before depreciation was $512k on revenue of $58.33m and expenses of $57.82m.
Revenue is now 85% of 2019, Expenses are now 75% of 2019. That is a good base to build from.
We have done well on field, making back to back prelim finals and winning 75% of our games means revenue has flowed in, despite us being all disappointed by our stumbles in PF's, so it means as a cyclical club, and controlling costs after covid restructure, we are doing well financially.
I have asked the question how much of the revenue figure includes donations. No answer yet. I have guessed $4mil, but I remember seeing an Australian Sports Foundation eligible projects web page for Port, on the redevelopment say $500k had been pledged.
If the figure of the donations is $500k or close to it and not $4mil, then it's a great turnaround by the club.
We are building $30mil of assets. $17mil comes from governments and $13mil has to be found from members, sponsors and partners. We are told that funding gap has been closed. If so, that is a bloody great result. If that doesn't give you confidence then nothing will.
But as a cyclical club, we have to keep winning, especially given our current list.
Win the premiership and you get a hit in the premiership year and then the feel good factor in the next year. It's why I have written many times we need to make back to back GF's to really take advantage and get a hit over 3 years.
Make 3 grand finals in a row, win a couple of them and things get supercharged.
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TazD
Norm Smith Medallist
- Apr 29, 2021
- 8,775
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I see a ken shaped hole in this dream
RussellEbertHandball
Flick pass expert
Here is something a bit less detailed to see the big picture.
The AO deal so far, pre Covid has meant we have to sell the 80 x 10 to 12 seat corporate boxes in the $35k to $55k range - lets call it $40k average net of GST, so $3.2mil net to the club, to be able to fully fund our footy department and breakeven or do a bit better than breakeven.
If the Footy Ops department costs has been slashed by $3.5mil, lets say it goes up a bit and is now $3.0m less than 2019 costs, but we are selling out all the corporate boxes for similar prices if not higher prices than 2019, then that is a nice profit margin left over to pay for other costs, pay down debt, or pay for some of the Alberton Oval redevelopment.
This graphic below is from the 59 page document the SMA presented in January 2019 to the SA Parliament Committee looking at the AO redevelopment.
Well looky here its more than 80 corporate boxes.
Its 18 x 12 seat suites ie enclosed boxes and 89 x 8,10 and 12 seat open boxes the club can sell and keep the revenue.
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