They have way fewer assets and net worth as well.
Don't worry about debt, in a going concern like a footy club debt is very manageable - especially with big brother AFL guaranteeing it and stepping in if things go bad.
They will also lose $4mill pa when the Tassie team arrives.****They have way fewer assets and net worth as well.
They are doing well but I would rather be in our shoes for sure.
It's like having 800k debt in a mortgage but a house worth 1.5m
That's a better position to be in than having no assets but no debt.
Sunny do you want to explain the dangers of looking at only one side of the balance sheet without looking at the other?They will also lose $4mill pa when the Tassie team arrives.****
**** Except if they’re the Tassie team.
No because you do it so much better than me.Sunny do you want to explain the dangers of looking at only one side of the balance sheet without looking at the other?
I owe 500k on a 1.5 mill home, I better sell because debt and sh*t (actually don't owe anything on my house, so I am just like North, asset poor but no debt).
Debt free with nothing to show for it. We're in a fine position, it looks bad but it's really not. Remember, 6 mil is owed to the AFL and as far as I'm concerned they owe us that money.
Trout bought 15 Bitcoin in 2012 for the club but cant remember the passwordwhat north melbourne does, doesn't really interest me
the debt we carry also doesn't really phase me as much as obtaining revenue outside of football. if we can build a strong revenue stream outside of AFL gate/merch etc. i think thats far more valuable. the debt you probably just need to hold, wait 10-20 years with inflation kicking in and then just renegotiate a settlement with the AFL.
there's a reason why clubs like GWS have gone head strong into day cares. makes a sh*t load of sense.
with all that roofspace at RSEA park maybe we should have covered them in solar panels and started mining bit coin