What's the bet USC doesn't make a whimper about this story.
As for calling us the biggest financial basketcase - eat your words you hick try hard journalists!
From today's AUSTRALIAN
Freo tops for record losses
By Michael Mcguire
Wednesday, August 01, 2001
THE financial situation at the embattled Fremantle Dockers is worse than expected with documents lodged with the Australian Securities and Investments Commission showing the club made a $1.37 million loss last year.
Fremantle are also expected to make a loss of more than $1m this season, with the club unable to win a game after 17 rounds. The Dockers also posted a loss of $153,960 in 1999.
The Fremantle loss was the worst in the AFL in season 2000, outstripping the Kangaroos, the club perceived to be the biggest financial basketcase, who made a loss of $1.11m.
However, unlike the Kangaroos, the Dockers have a safety net in being owned by the West Australian Football Commission, which can underwrite losses.
In a statement to ASIC, Fremantle blamed the loss on ''a significant increase in costs'' over the year.
Fremantle said they paid the West Australian Football Commission $1.64m in 2000, up from $956,353 in 1999.
They also said match-day costs had risen by about $200,000 because of the redevelopment of Subiaco Oval.
Other costs were incurred by closing the club's merchandise shop, and provisions for long-service leave being recognised for the first time. However, revenue increased to $15.4m from $14m.
The loss could be even worse this season, with Fremantle having to cope with their failure to win a game, memberships down by four per cent from 2000, and paying out the contract of sacked coach Damian Drum while paying new coach Ben Allan.
Reports this week also linked the struggling Dockers to high-profile players such as Richmond's Darren Gaspar, Melbourne's Jeff Farmer and St Kilda's Barry Hall.
And, of course, they still have to find a coach for 2002.
The news of the extent of the Dockers' financial woes comes only days after a spat between Fremantle chairman Ross McLean and AFL operations manager Andrew Demetriou.
In a radio interview, Demetriou said ''drastic action'' had to be taken in WA to ensure the Dockers and the West Coast Eagles got ''back on track''.
McLean called for an apology from the AFL and said the governing body had knocked back their request for help.
AFL spokesman Patrick Keane said yesterday the ''AFL was not at the point where we will intervene''.
McLean did not return phone calls to The Australian yesterday.
As for calling us the biggest financial basketcase - eat your words you hick try hard journalists!
From today's AUSTRALIAN
Freo tops for record losses
By Michael Mcguire
Wednesday, August 01, 2001
THE financial situation at the embattled Fremantle Dockers is worse than expected with documents lodged with the Australian Securities and Investments Commission showing the club made a $1.37 million loss last year.
Fremantle are also expected to make a loss of more than $1m this season, with the club unable to win a game after 17 rounds. The Dockers also posted a loss of $153,960 in 1999.
The Fremantle loss was the worst in the AFL in season 2000, outstripping the Kangaroos, the club perceived to be the biggest financial basketcase, who made a loss of $1.11m.
However, unlike the Kangaroos, the Dockers have a safety net in being owned by the West Australian Football Commission, which can underwrite losses.
In a statement to ASIC, Fremantle blamed the loss on ''a significant increase in costs'' over the year.
Fremantle said they paid the West Australian Football Commission $1.64m in 2000, up from $956,353 in 1999.
They also said match-day costs had risen by about $200,000 because of the redevelopment of Subiaco Oval.
Other costs were incurred by closing the club's merchandise shop, and provisions for long-service leave being recognised for the first time. However, revenue increased to $15.4m from $14m.
The loss could be even worse this season, with Fremantle having to cope with their failure to win a game, memberships down by four per cent from 2000, and paying out the contract of sacked coach Damian Drum while paying new coach Ben Allan.
Reports this week also linked the struggling Dockers to high-profile players such as Richmond's Darren Gaspar, Melbourne's Jeff Farmer and St Kilda's Barry Hall.
And, of course, they still have to find a coach for 2002.
The news of the extent of the Dockers' financial woes comes only days after a spat between Fremantle chairman Ross McLean and AFL operations manager Andrew Demetriou.
In a radio interview, Demetriou said ''drastic action'' had to be taken in WA to ensure the Dockers and the West Coast Eagles got ''back on track''.
McLean called for an apology from the AFL and said the governing body had knocked back their request for help.
AFL spokesman Patrick Keane said yesterday the ''AFL was not at the point where we will intervene''.
McLean did not return phone calls to The Australian yesterday.
