I'd like the cash strapped Age to do an article on this.
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This is the soundbyte, and I wish the club was better at communicating it, as you have here astroturf.In 2007 we had turnover... of somewhere between $15m and $20m and debt of about $8m. Debt was about 50% of turnover.
In 2017 we have turnover of $40m and debt of 800k. Debt is now about 2% of turnover.
That's not just 'manageable', it's just bog-standard trading debt.
Don't mean to be a party poop but I feel our debt has been at this 'manageable' level for quite a while now.
Someone is moving in on Tas' turf.
Accountant fight Accountant fight
I agree.This is the soundbyte, and I wish the club was better at communicating it, as you have here astroturf.
That said, it would be nice for publicity's sake to be 'debt free', even if briefly, to fully put any naysayers on their arse.
To what extent if any is the debt not being paid off so as to continue having it as a pretext for fundraising initiatives?
To what extent if any is the debt not being paid off so as to continue having it as a pretext for for fundraising initiatives?
I don't remember even being charged it this year to be honest (as a 10 year+ member).Do new members still have to opt out of the "extra debt reduction payment"?
No you have to opt out.I don't remember even being charged it this year to be honest (as a 10 year+ member).
I thought it was something you had to opt into EACH year as it wasn't a standard membership fee.
I'd need to check again, but I'm fairly certain the price of my membership reverted back to normal. May have just been an anomaly though I have had issues with my membership in the past.No you have to opt out.
They were bargaining on people like you not even realising it's there.
Interesting end of FY statement coming up soon. Crap membership and attendances, no finals, i doubt we're making a profit this year.
It's great we can afford to have a down year now. Hope they don't go into full 'tighten the purse strings' mode to compensate. I'm sure they won't because this club is being run pretty damn well operationally to get where it is.Interesting end of FY statement coming up soon. Crap membership and attendances, no finals, i doubt we're making a profit this year.
I'd need to check again, but I'm fairly certain the price of my membership reverted back to normal. May have just been an anomaly though I have had issues with my membership in the past.
No you have to opt out.
They were bargaining on people like you not even realising it's there.
Interesting end of FY statement coming up soon. Crap membership and attendances, no finals, i doubt we're making a profit this year.
Interest rates are low and have been for a while so the cost of servicing debt is low. Running a level of debt that you're comfortable with is fine when you weigh it against the opportunity cost of the other things you could be doing with the money.Don't mean to be a party poop but I feel our debt has been at this 'manageable' level for quite a while now.
Why aren't you on the board' for life.Mate around 2007 we had turnover (how much money comes in the door) of somewhere between $15m and $20m and debt of about $8m. Debt was about 50% of turnover.
In 2017 we have turnover of $40m and debt of 800k. Debt is now about 2% of turnover.
That's not just 'manageable', it's just bog-standard trading debt. Any time we want we could repay the $800k in a heart beat, but there's no real need or purpose. It is now a question of what we want to spend our money on, whereas a decade ago we had no choice in this regard.
I've said it before and I'll say it again - where we are now, our greatest existential threats are the AFL wanting to ship us off somewhere, and trying to keep up with the Joneses like the scum and the filth who happily throw millions upon millions of dollars at football and off-field operations in the desperate belief that you can win premierships by throwing money at the problem. We have lots of millions now but they have lots more millions than us, and their financial silliness creates an inflationary effect in the football operations marketplace - everyone from the coach to the bootstrapper starts think they're worth more money than they actually are. So long as we keep our heads and only spend on football ops what we earn (or less), then we make profits every year (and have been). It's only if we go crazy and start paying overs again that we will find ourselves back in bad debt land.
Really happy with where the club is at.
Why aren't you on the board' for life.