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- #5
Official Club Stuff 2022 Financial Results
- Thread starter Ports1870
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Rogue Robot
Cancelled
- May 1, 2016
- 1,654
- 1,436
- AFL Club
- Port Adelaide
What's our debt at now? They kept parroting '6m in 2 years' without saying what's left
- Moderator
- #27
This is a good financial result on the bad of last year's good result as well. It's pleasing to see what we maybe in the future is an a position that to the AFL will let us sack a coach lol.
No seriously it's good. Let's keep this going, looking forward to the Alberton redevelopment.
There are so many positives at the moment, the club is paying down debt and looking financially stable, we have a home and it's getting redevelopment. We have a great list, and hopefully we can get to that next step.
I'll choose to be positive at the moment because life is absolute garbage sometimes and take what you want from it I guess.
No seriously it's good. Let's keep this going, looking forward to the Alberton redevelopment.
There are so many positives at the moment, the club is paying down debt and looking financially stable, we have a home and it's getting redevelopment. We have a great list, and hopefully we can get to that next step.
I'll choose to be positive at the moment because life is absolute garbage sometimes and take what you want from it I guess.
DaTBird187
What D Farke?
- Feb 9, 2014
- 16,456
- 44,170
- AFL Club
- Port Adelaide
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- Liverpool, Boston Celtics
Thanks Ferris.
It's what I've said many times - off-field we are actually doing well, its just the on-field, football department stuff that needs a lift/change.
RussellEbertHandball
Flick pass expert
Debts levels have become a bit dodgy since around 2017 for Port and a bit earlier for other AFL clubs.
All Clubs now have membership renewals in October so if you get $3m of membership fees in 17th October rather 17 November or in WCE's case about $10m, you show this as a liability Income in Advance and the other side is your overdraft / commercial notes draw down is reduced by that amount, or your cash at bank increases by that amount, or a bit of both, without affecting the profit figure.
In 2016 the crows did this trick changed their membership renewal from November to October about $5.xm came into their bank account and they said they had paid off all their debt. We copied them in 2017 - because of the need to play the PR game, and about $3.xmil came thru the bank account and we said debt levels have remained the same as at 31st October 2016 balance, when in fact they were actually around $3mil worse.
2020 all clubs got caught out because their 2021 renewals could not start until post 31st October as the covid season delayed things so all clubs true debt levels was exposed as they didn't have this membership early payment hit.
So debt levels vary from month to month and 31st October balance might not be the most accurate.
From the Wookie's post the 31st October debt levels were
Interest bearing loans and borrowings ......173,430 ..173,430
Interest bearing loans and borrowings ... 6,606,233 9,779,663
Total.................................................. 6,779,663 9,953,093
Which has to be read in conjunction with
All Clubs now have membership renewals in October so if you get $3m of membership fees in 17th October rather 17 November or in WCE's case about $10m, you show this as a liability Income in Advance and the other side is your overdraft / commercial notes draw down is reduced by that amount, or your cash at bank increases by that amount, or a bit of both, without affecting the profit figure.
In 2016 the crows did this trick changed their membership renewal from November to October about $5.xm came into their bank account and they said they had paid off all their debt. We copied them in 2017 - because of the need to play the PR game, and about $3.xmil came thru the bank account and we said debt levels have remained the same as at 31st October 2016 balance, when in fact they were actually around $3mil worse.
2020 all clubs got caught out because their 2021 renewals could not start until post 31st October as the covid season delayed things so all clubs true debt levels was exposed as they didn't have this membership early payment hit.
So debt levels vary from month to month and 31st October balance might not be the most accurate.
From the Wookie's post the 31st October debt levels were
Interest bearing loans and borrowings ......173,430 ..173,430
Interest bearing loans and borrowings ... 6,606,233 9,779,663
Total.................................................. 6,779,663 9,953,093
Which has to be read in conjunction with
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Doctor Feel
Shitposter In Chief
Have we got money to sack him yet
If the great REH thinks interpreting the results is a bit dodgy, who knows where we really sit
Janus
Advocatus Diaboli
- Sep 9, 2007
- 23,363
- 57,153
- AFL Club
- Port Adelaide
- Other Teams
- Dallas Cowboys, Chicago Bulls
From 2020, we reduced our running costs by $17m, then signed up KFC at the end of 2020 as a joint major alongside what we are getting from GFC and MG, then added Santos as a major sponsor of the AFLW team.
My personal opinion is that we are clearing the decks over the next couple of years to have a decent crack at poaching Hardwick from Richmond, who is out of contract in 2024. Paying down $2.5-$3m every year would see us close to debt free by that stage, which is when you can sell the strategy of paying X amount of dollars to a coach to the AFL and associated media and not have them say 'where did you get the money from?'
It's how North was able to get Clarkson.
My personal opinion is that we are clearing the decks over the next couple of years to have a decent crack at poaching Hardwick from Richmond, who is out of contract in 2024. Paying down $2.5-$3m every year would see us close to debt free by that stage, which is when you can sell the strategy of paying X amount of dollars to a coach to the AFL and associated media and not have them say 'where did you get the money from?'
It's how North was able to get Clarkson.
2 more years and we could get to North Melbourne levels...
On SM-G975F using BigFooty.com mobile app
RussellEbertHandball
Flick pass expert
I'm not saying this years profit figure is dodgy, but our debt levels looks good/better on 31st October than on 1st of October because the accounting trick all clubs do. Maybe all clubs should be forced to reveal their 1st October debt levels not their 31st October debt levels.
The profit figure - before depreciation - is what I expected.
In simple terms we are back to 2019 revenue levels, have had to slash a lot of costs including Footy Ops expenditure by just over $3mil compared to 2019 cap amount.
This basically was an AFL imposed cut and kept for 2 years the same with a bugger all increase in 2022, so that clubs could make profits and pay off covid debts. We have done that and I say most if not all clubs have achieved that.
Unlike 2019 we have the costs of the AFLW program in our expenses, which breaks even, which is fair achievement. I suspect our sponsorship margins are higher in 2022 compared to 2019.
Port Adelaide was on its knees a decade ago – at serious risk of having its AFL licence revoked (with a team that won just eight of 44 games in 2011-12).
We are now owned by the $AFL, who would not sanction a pay out (for sacking a coach).
Albeit me thinkith, the only measure that has Ken as coach in 2024 is winning a Prelim next year.
Just enjoy next year, support the Club & players and see if 2022 was an aberration (to when we made and lost Prelims in 2020 & 2021).
2020 and 2021 were covid effected years and have been aberrations if you take into account 15. 16. 17. 18. 19 and 22.
The afl owns st kilda. North and gws.
All who sacked their coaches this year.
Shut your mouth
Janus
Advocatus Diaboli
- Sep 9, 2007
- 23,363
- 57,153
- AFL Club
- Port Adelaide
- Other Teams
- Dallas Cowboys, Chicago Bulls
Correction: It was the list. It hasn’t been the list since 2020, as seen by two consecutive home prelims.
If we don’t win a premiership in the next two years, it’s the coach.
tribey
ʎǝlʞuᴉH ʞɔɐS
Veteran
Port Adelaide - Connor Rozee Player Sponsor 2020
Port Adelaide - Zak Butters 2019 Player Sponsor
Port Adelaide - Jack Watts Player Sponsor 2018
Port Adelaide - Nathan Krakouer Player Sponsor 2015
Port Adelaide - Matthew Broadbent Player Sponsor 2013
Port Adelaide - John Butcher 2012 Player Sponsor
Nope.
If total assets are $46.5 M and net assets are $17.1M doesn’t it make total liabilities $29.4M?
So yet another false line in the sand deadline that you will back out of again in 2 years time.
I'd argue any ability to blame the list disappeared at the end of 2017. 2018 and 2019 we had a great list, we just underperformed to the extent that its been brushed off.
You're arguing with a bloke who sets up jumpers as goal posts in a hurricane.
- Mar 22, 2013
- 2,357
- 4,697
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- Port Adelaide
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- Liverpool FC, Carolina Panther's
Just curious, What are Port Adelaide’s assets?
RussellEbertHandball
Flick pass expert
Normal things - Land, buildings, leasehold improvements, the Prince's leasehold, pokie machines - were 73 at one point when the merger/reunification happened in 2010 now its about 53, inventories, prepayments, office equipment, computers, cash, accounts receivable, plant and equipment, some leased assets have to capatalized as does the liability recognized when you first take out the lease, memorabilia and our AFL licence is valued at $6.5m.
- Moderator
- #50
The AFL owns neither St Kilda or North.
The AFL currently controls the boards of GWS, Gold Coast, Sydney, Adelaide and Port Adelaide.
