sounda
Cancelled
- Apr 29, 2016
- 377
- 561
- AFL Club
- West Coast
Enouh of this crap.
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.
Seriously?
Mate - I don't care whether you believe it or not - it is fact - as inconvenient as it might be for you to hear.
And FYI : technically insolvent means that it has a negative net asset value; its liabilities are greater than its assets.
So .... if all of the liabilities are called in or, fall due then .... well .... it should be obvious even to the most rusted on Pies supporter.
Liabilities are greater than its assets.
Concern was great enough that Gordon Lewis was going to close those 7 clubs down if the league couldn't come up with a convincing solution.
And because those 7 clubs had no money the WCE had to pay for their flights to WA to play at Subi in the early days. Many Vics will not know that small fact either.
Anyway, it's all history now and I don't mind the Pies as a club as their supporters walked out of the MCG in sportsman like fashion last year. I know I was there. But it would be refreshing to hear some in the Vic media acknowledge the contribution of interstate teams to the AFL and stop with their biased crap.
Commentary team on Fox yesterday was just an extension of the Pies cheer squad. May as well asked Joffa to join them. Truly awful adolescent bias.