Enouh of this crap.You didn't read this part of the article then? This is exactly what I was saying Vic people just walk straight past the facts and have an alternative footy universe happening.
"Of the 11 Victorian Club companies it appears that seven of them are technically insolvent. These clubs are Fitzroy, Geelong, Footscray, Collingwood, Melbourne, North Melbourne and Richmond," he wrote on August 8, 1986."
I know it's hard to accept that even the Pies were staring down the barrel but staring down the barrel they were!!
And ... yes the licences fees from Brisbane and WCE did save their busted broke miserable arses!
INSOLVENT = can't pay your debts if called due.
The registration fees paid by West Coast and Brisbane totalled $8m
If the monies received were equally distubuted amongst the VFL clubs (and they weren't) - each club would have received $666,000 dollars (based on 12 clubs).
There was the small matter of Fitzroy and Sydney at the time - and the AFL underwriting them.
You are also assuming that the licence fees were "paid" out to clubs in the applicable financial year - and they weren't.
So your telling me that Collingwood - who had a debt that year of 3.5 million were able to pay off their debt with $666,000 (which they never received) and be in the black with a year.
The wording 'technically insolvent' is obviously a phrase that you don't understand.
The Pies had a cash flow problem which they were able to trade out of themselves.
They were never bankrupt or placed under administration.
Licence fees or not the Pies did not rely on these monies to survive.