7 mill loss!

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dees*gal

Premiership Player
Nov 25, 2000
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melbourne
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MELBOURNE DEMONS!!!
damn, i heard you guys got a $7 million loss this yr... split both ways between the social club and the football club (football club was only 2 and a bit tho).

how long do you reckon it'll take the club to get back on its feet again? you could have really, really good luck and have a very in-form team next season and do well... but anyway, good luck to ya!
 
Not a unforeseen circumstance considering we are downgrading the value of the grandstand from an optimistic $22 mill to basically the cost of the materials - $2 mill. This will be done $5 mill per year until the end of 2006 when the contract to play at OO runs out. Therefore we can expect further losses during that time. Will be tough to make up that amount of money before we downgrade another 5 mill next year. We need to triple our membership base!!!
 

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C/bum? What the ....?

Considering 5 mill is writing down the value of the stands and 930k is the fine imposed by the AFL, the damage is not quite as severe as it first seems.

Do you see anyone that is proud of the former board or that believes that Jack is a hero?

Pitiful troll. So much so I am sure many will laugh at you. I'd estimate by the tone of your post Bombers 2003 that you were waking up mummy and daddy early on Xmas day such was your excitement.
 
Originally posted by The Old Dark Navy's

Considering 5 mill is writing down the value of the stands and 930k is the fine imposed by the AFL, the damage is not quite as severe as it first seems.

I think you might want to have a closer look at the books mate. The $930K fine from the AFL will not appear in the books until next season only $55K of is relevant to the current season.

Also to be considered is the Social Club who recorded over a $3m loss which is more worrying for Carlton than the on field loss. But the club is definitely in financial trouble and I will laugh at you when you're rattling cans - cause you did it to us.
 
Originally posted by Slax
I think you might want to have a closer look at the books mate. The $930K fine from the AFL will not appear in the books until next season only $55K of is relevant to the current season.
Just repeating what I was told. Either way the situation is not rosy. 5 mill is still a write off for the stand at least.

Also to be considered is the Social Club who recorded over a $3m loss which is more worrying for Carlton than the on field loss. But the club is definitely in financial trouble and I will laugh at you when you're rattling cans - cause you did it to us.
I laughed at you? Or some other Blues fans? We supposedly have 750,000 fans nationally. Did at least 375,000 of those laugh at you or are we talking about a minority here?

Doesn't matter, it's your choice. I don't laugh at the plight of other clubs as I grew up in awe of the game and all of the teams and how they all needed each other. Hey, I feel pretty good about myself not resorting to *** for tat arguments even though I know a feral supporter or two from every single club. Whatever flicks your switch I guess. Laugh away.
 
7 Mill Loss!.

i personally think that JDE will prove to be a better president then Ian Collins.

Sorry folks - stupidity edited out again ..... except for this little gem. After all, we all need a laugh now and again. - ODN
 
Re: 7 Mill Loss!.

Originally posted by Bombers 2003
See above editing - ODN

This sick pathetic immature abusive pipsqueak has started posting crap on the Adelaide Board in recent times as well. Obviously finds it difficult to finish a post in one go ever since he adopted the Brodie Holland philosophy of self-indulgence and enjoyment!! ;)

As for the make-up of the Carlton loss for the year, according to the AFL posting on the 20th December. the fine of $930,000 is included in the loss for 2002 - see extract quoted below.

"The stunning $7.558 million dollar loss now takes the club’s total debts to about $15 million with the club already owing just more than $8 million for the construction of the Elliott and Legends Stands at Optus Oval.

The bulk of the Blues’ 2002 trading loss was as a result of the new board dramatically reducing the value of those two grandstands in the club’s books.

With matches only guaranteed to be played at the ground until the end of 2006, Collins said the new board could not continue to justify the former board’s value of the grandstands at $22 million.

So instead the value of the stands was reduced by $5 million this year and will continue to be reduced by $5 million for the next three seasons to what the new board believes will be their rightful value of only around $2 million by 2006.

The massive trading loss also includes the recent fine of $930,000 from the AFL for salary cap breaches."

Good luck to Carlton and its supporters for 2003. I feel sorry for the supporters because their only crime is to support their team. While the club obviously had to take its punishment for the irresponsible actions of that ****er Elliott, just imagine the further deep sh*t he would have got you into this year with those backloaded contracts.

It will take time but Carlton will be back!! :)
 

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Originally posted by PAfolwr
What is the go with the editing?
The go is that this is a Blues board and opposition supporters who want to come in here just to sling crap have their posts either deleted or edited. Deletion might be preferable but if it then makes subsequent replies look a bit odd, then they just get edited along with the moderators initials and explanation of sorts. I think you will find that this happens on a lot of the other club boards as well.

If anyone disagrees with us, well and good. Make your point without resorting to abuse and we will take up the challenge. We may have to put up with "Blues suck", "you're all cheats" etc etc on the main board but this is our home and our rules apply.

We have some great opposition fans in here from time to time who are very respectful when they are here. In other forums however, it is all fair game.

Cheers
 

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