News Club financials for 2018 season

[True Dog]

Meanwhile the saints debt has hit $12m. Yikes!

This was us not too long ago, great work from all involved. They cope a lot of heat from many on here but credit where credit is due.

 

[Dazb86]

Amazing we have no debt nowadays.

 

[BallaratBulldog]

Exciting times!

 

[House_of_Dahl]

I honestly never thought I would see the day when the Bulldogs had zero debt and $7 million in the bank..... it really is amazing and I’m glad that even though the club wasn’t able to maintain the onfield success from 2016, at least the smart people there made sure that the finances got fixed so that we are set up for more future success and don’t have that millstone hanging around our necks anymore.

Well done Doggies and keep up the good work. To all supporters thinking about becoming members, sign up now as there will be great times ahead.

I really believe we will play finals for 5+ consecutive years starting this year or at worst next. A horrendous injury run the only risk to it.

 

[Bulldog Brent]

Amazing we have no debt nowadays.

We do have debt but it’s less than how much cash we have in the bank.

 

[Mr. Walker]

We do have debt but it’s less than how much cash we have in the bank.

How much is the debt?

 

[DelRe]

How much is the debt?

There is zero debt in the sense of borrowings. I think BB may be referring to liabilities like trade creditors which there is sufficient cash to repay.

 

[Golden_6]

There is zero debt in the sense of borrowings. I think BB may be referring to liabilities like trade creditors which there is sufficient cash to repay.

That's exactly right. We have zero bank debt, and only trade creditors which happens to every single significant operating entity.

 

[Woof]

Can’t believe how small this thread is given the significance for the club! The board and exec deserve a huge amount of credit. We are truly living in a golden bulldogs era and I have full confidence we will see it back on the field soon.


On iPhone using BigFooty.com mobile app

 

[maddog37]

Can’t believe how small this thread is given the significance for the club! The board and exec deserve a huge amount of credit. We are truly living in a golden bulldogs era and I have full confidence we will see it back on the field soon.


On iPhone using BigFooty.com mobile app

Agreed.

 

[bobs head soup]

So in the last few years we have paid millions in debt repayments, an expense we no longer have whilst also building cash reserves of $7 million.

We are also planning to sell our pokies which presumably will also provide millions of dollars of funds.

Given the above, if we maintain the rest of our business at current levels we will have massive cash reserves in a year or 2, certainly well over $10million, and no debt

It's a fantastic position but we are ultimately a non-profit organisation, what do we do with all this wealth?

 

[BrisDog]

So in the last few years we have paid millions in debt repayments, an expense we no longer have whilst also building cash reserves of $7 million.

We are also planning to sell our pokies which presumably will also provide millions of dollars of funds.

Given the above, if we maintain the rest of our business at current levels we will have massive cash reserves in a year or 2, certainly well over $10million, and no debt

It's a fantastic position but we are ultimately a non-profit organisation, what do we do with all this wealth?

Lobby the new Labor Federal Government to build a boutique 35k capacity Whitten Stadium. The time is right whilst there are both state and federal Labor Governments, including a new PM from down the road.

And buy a new squat rack and 25kg weight plates for our lists burgeoning quad development.

 

[100action]

Agree, it’s perfectly allowed, but ultimately it is a bit of an accounting fiction as it’s not as if the club has or can realise that revenue for other investments. The actual operating revenue is relatively stagnant if not slightly declining. They have a solid basis to work from though and the club is right that it needs to now focus on that area as summed up well by Bains:

“We are extremely pleased with the Club’s financial position, but remain acutely aware of the need to grow our revenue streams to fund an expected increase in costs across the business over the next few years”

I should try do this myself but a comparison of income from investments between clubs would be interesting.

 

[TiAn_]

So in the last few years we have paid millions in debt repayments, an expense we no longer have whilst also building cash reserves of $7 million.

We are also planning to sell our pokies which presumably will also provide millions of dollars of funds.

Given the above, if we maintain the rest of our business at current levels we will have massive cash reserves in a year or 2, certainly well over $10million, and no debt

It's a fantastic position but we are ultimately a non-profit organisation, what do we do with all this wealth?

We’re going to use the funds for to develop WO and the land we’ve been assigned between the oval and Cross Street. Gordon talks about it in the podcast.

 

[hoianbulldog]

yet spent less on footy department this year than last.

That does seem a little odd. You have any info an what specifically was cut or reduced this year?

 

[jdz101]

That does seem a little odd. You have any info an what specifically was cut or reduced this year?

Beats me. They never going into much detail as to the reasoning for individual lines on those reports. There has been a lot of staff turnover though. Could just be an undesired outcome from that.

 

[100action]

We’re going to use the funds for to develop WO and the land we’ve been assigned between the oval and Cross Street. Gordon talks about it in the podcast.

do you know the parcel of land we were given exactly?, i can only find comment on "land south of the oval, cross street and VicTrack land extending to the station.

Based on the above i deduce the area below:

 

[hoianbulldog]

do you know the parcel of land we were given exactly?, i can only find comment on "land south of the oval, cross street and VicTrack land extending to the station.

Based on the above i deduce the area below:

grass needs some water.

 

[_M_16_]

If we ever do up Whitten Oval like Geelong did with theirs, which I doubt because Geelong is far out thus need their own ground, and we have Marvel built for us smaller clubs, so getting government funding will be hard given public rather it be spent on roads and hospitals etc. And the fact it will cost way more to build than Geelong's did as much of the developed area will need to be bulldozed and businesses moved away to make way for slight realignment of the oval, stands, parking, facilities etc.

Would we keep the current field dimensions, or expand it so its not too small, and that we can have greater capacity?

 

[DelRe]

So in the last few years we have paid millions in debt repayments, an expense we no longer have whilst also building cash reserves of $7 million.

We are also planning to sell our pokies which presumably will also provide millions of dollars of funds.

Given the above, if we maintain the rest of our business at current levels we will have massive cash reserves in a year or 2, certainly well over $10million, and no debt

It's a fantastic position but we are ultimately a non-profit organisation, what do we do with all this wealth?

The club doesn’t have $7M in reserves. At the balance date the club had $7.8M in cash and cash equivalents. $2M was committed to developments and $5.6M was matched by payables. The club really only has $200K available and even then that was a moment in time. The club is in a better financial position than in the past but a long way from being wealthy or even having long term sustainable income.

 

[TiAn_]

do you know the parcel of land we were given exactly?, i can only find comment on "land south of the oval, cross street and VicTrack land extending to the station.

Based on the above i deduce the area below:

I haven’t done any digging to find out, but that’s what I’ve assumed too.

I’m not sure whether it includes any of the land to the East of the Princes Hwy as well.