Analysis Collingwoods $1.8 million loss after hit to revenue

[Quicky]

This is pretty dire. The club has announced a $1.8 million loss this season. I wonder how we plan to turn this one around? I guess bums in stadiums is a start. But attracting members just as important. Difficult after this seasons balls up. Ed is leaving the new President with a big job ahead of him/her.

Mods: I know you're trigger happy on thread merges but please leave this one as a stand alone topic. It deserves its own discussion.

Collingwood's $1.8 million loss after club takes massive revenue hit

The financial toll of coronavirus on the AFL and its clubs has been laid bare after Collingwood announced a loss of $1.8 million.

www.theage.com.au

 

[Markfs]

It depends on how many members return to their memberships, and whether they return to games and eat and drink.

 

[Babylove]

This is pretty dire. The club has announced a $1.8 million loss this season. I wonder how we plan to turn this one around? I guess bums in stadiums is a start. But attracting members just as important. Difficult after this seasons balls up. Ed is leaving the new President with a big job ahead of him/her.

Mods: I know you're trigger happy on thread merges but please leave this one as a stand alone topic. It deserves its own discussion.

Collingwood's $1.8 million loss after club takes massive revenue hit

The financial toll of coronavirus on the AFL and its clubs has been laid bare after Collingwood announced a loss of $1.8 million.

www.theage.com.au

To be honest I actually think this isn’t a bad result given the amount of revenue that has gone out of the game. Gives you an idea why they had to stand down and make redundant so many and why they were asking members to stick even as they were offering refunds to anyone who asked. This certainly won’t be the worst financial result among the clubs for the year.

 

[Sea fog]

Some clubs might go under because of the virus. We should still survive though will no longer be a financial powerhouse with the supporter base ever diminishing because of our lack of success.

 

[The Ghost of the KPF]

Kind of surprised it wasn't worse. The revenue effects of the pandemic would have to be systemic and hard to avoid.

I think we timed exiting pokies to a nicety though. I would be very interested in what happens with clubs with bigger exposure to that.

We made an operating profit, the loss is due to depreciation probably mostly on the Holden centre. All in all, I doubt many would have done better and there will be a lot of red ink around.

 

[PIEWITHSAUCE]

I think at the start of the year the club was hoping to keep it to $5m , so I guess this is a pretty decent result. A huge contribution from all the members who allowed the club to keep their funds too - will be interesting to see how many do the same in 2020 with the continued uncertainty.

 

[Iskender Time]

What could have caused this? Sack Eddie.

 

[Apex36]

This is pretty dire. The club has announced a $1.8 million loss this season. I wonder how we plan to turn this one around? I guess bums in stadiums is a start. But attracting members just as important. Difficult after this seasons balls up. Ed is leaving the new President with a big job ahead of him/her.

Mods: I know you're trigger happy on thread merges but please leave this one as a stand alone topic. It deserves its own discussion.

Collingwood's $1.8 million loss after club takes massive revenue hit

The financial toll of coronavirus on the AFL and its clubs has been laid bare after Collingwood announced a loss of $1.8 million.

www.theage.com.au

Are we just overlooking that the club had an actual operating profit of $1m? The loss only comes in to play with depreciation and amortisation. I think under the circumstances of 2020 that’s a pretty bloody good result. It’s not like we’ve had to go and borrow $1.8m.

 

[sideswipe]

In a year where the biggest sponsor of the AFL was JobKeeper, I don’t think anything can be taken from the result.

Just be happy with the Club’s relatively strong financial position.


On iPhone using BigFooty.com mobile app

 

[whiskeytown]

Most here wanted us to get out of pokies.

They were closed during lockdown too... but having them run for 4-6 of the last 12 months in Melbourne would’ve alleviated the revenue loss

Money doesn’t matter. What matters most is that we are PC and feel virtuous

 

[barrackers]

I was expecting a worse result. Surprised we actually made money prior to the write downs. They sold the no refund message well during the season largely on the bias of the club’s financial position.

 

[Antz]

So taking into account this loss, how much money have we got in the coffers?

Edit: Just read the article. We have $8 million in the bank and $43 million in assets. A strong position compared to many other clubs I would say.

 

[TradeDraft]

I was expecting a worse result. Surprised we actually made money prior to the write downs. They sold the no refund message well during the season largely on the bias of the club’s financial position.

Shows they where Lying a bit about it

 

[magpies42]

This is a good result all things considered. Operating profit offset by depreciation and amortisation, is pretty good given the situation. Depreciation costs are not entirely real, and often aren’t realised until years down the track anyway.

That’s a healthy balance sheet in the situation .

 

[Apex36]

Shows they where Lying a bit about it

What did they lie about? If everyone cancelled their memberships then we would have gone in to an operating loss. Is that what you want to happen?

 

[Laurie Holden]

Anyone got figures on the other clubs? Would be good to understand how others fared given the year we’ve had.

 

[magpies42]

Anyone got figures on the other clubs? Would be good to understand how others fared given the year we’ve had.

+9m turnaround on last years figures is pretty significant. 2m write down on assets is not too bad all things considered.

 

[danielnajdek]

Bucks fault. Sack him.

 

[The Ghost of the KPF]

Anyone got figures on the other clubs? Would be good to understand how others fared given the year we’ve had.

A bit everywhere, and misleading.

Both Carlton and Essendon look ok on the top line, but both received large grants for works along with donations to same. Take away those one offs and both lost more like 4 million plus.

StKilda, Geelong, Melbourne haven't reported yet from Victoria.

 

[legendstatus]

Tiger’s who have been a powerhouse for 4 years, had an operating profit of $217k this year. I reckon given everything 1.8m loss isn’t too bad, not great but not bad.


On iPhone using BigFooty.com mobile app

 

[The_Wookie]

Anyone got figures on the other clubs? Would be good to understand how others fared given the year we’ve had.

 

[Black_White]

No bums on seats.
A loss was to be expected.
But make no mistake, CFC isn’t going down.
The AFL, via Government grants, isn’t going anywhere.
2020 is the year that all sporting clubs will take a government hand out.
We are no different.

 

[76woodenspooners]

Anyone got figures on the other clubs? Would be good to understand how others fared given the year we’ve had.

Would imagine WCE would have done way better than everyone else. Members tend to be a bit more loyal when there’s a waiting list to join.

 

[Black_White]

Would imagine WCE would have done way better than everyone else. Members tend to be a bit more loyal when there’s a waiting list to join.

True.
SA may have done ok as well considering both states had members attend matches.
WA moreso.

 

[cityslick1]

Couldve been a lot worse. The cash movement isnt great - but expected with COVID. & plenty of other clubs will be going to the AFL for assistance, to keep the existing teams format & competition as we know it alive.

The bigger issue for me is the number of memberships. We have stagnated over the past 10 years, whilst Richmond have now surpassed us by 25k... as well as West Coast. We're in line with Hawthorn. & we will likely go backwards next year, after the recent debacles at our club. Now you can quote Premiership success helping others, but we're supposed to be the biggest sporting club in the land.... only we're not anymore.