Official Club Stuff From The President - Club officially debt free 1st Feb 2021!!

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Arr0w

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Nov 13, 2015
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Of all the people that should be applauded, it is MLG. While he has made a number of mistakes and will continue to do so, the greatest strength of character was to finally call a dedicated rebuild.

Undertaking the rebuild was always going to be painful short term, on and off the field, but history will show, the flow on benefits will set the club up for it's most successful period ever.

A squad ready to break into finals, record membership, no debt

This next phase (5 years), will be the most exciting for some time, hopefully we continue to be patient and ensure this great club, never falls again
 
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Dramoth

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Jul 19, 2005
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Of all the people that should applauded, it is MLG. While he has made a number of mistakes and will continue to do so, the greatest strength of character was to finally call a dedicated rebuild.

Undertaking the rebuild was always going to be painful short term, on and off the field, but history will show, the flow on benefits will set the club up for it's most successful period ever.

A squad ready to break into finals, record membership, no debt

This next phase (5 years), will be the most exciting for some time, hopefully we continue to be patient and ensure this great club, never falls again
MLG is going out on a high note. This is his final year as president of the club and he is leading us onwards and upwards. I know that some people are saying that debt is good if you are making money from it, but this debt was left to us by John Elliott and had his name plastered all over it. Since we (were forced to) move from Princes Park, that money has been dead debt. It's been a drain on the club. And now that the rebuild appears to be over, his work since becoming president is over and the club is in a much better position.

Retiring that debt now completely frees us of the past and allows us to move towards a prosperous future with sustained success.

A lot of thanks needs to be given to MLG and the board over the last 6 years for their efforts on clearing our historical debt and driving us forward through the tough times of the rebuild.
 
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Aphrodite

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MLG is going out on a high note. This is his final year as president of the club and he is leading us onwards and upwards. I know that some people are saying that debt is good if you are making money from it, but this debt was left to us by John Elliott and had his name plastered all over it. Since we (were forced to) move from Princes Park, that money has been dead debt. It's been a drain on the club. And now that the rebuild appears to be over, his work since becoming president is over and the club is in a much better position.

Retiring that debt now completely frees us of the past and allows us to move towards a prosperous future with sustained success.

A lot of thanks needs to be given to MLG and the board over the last 6 years for their efforts on clearing our historical debt and driving us forward through the tough times of the rebuild.

Mark Lo is up for re-election


This is from the online voting site (Computershare) and I have just voted -

3 Board positions available:-

Craig Mathieson

Jeanne Pratt

John Hollingsworth

Mark Lo Giudice

Steve Khatib


Current director/s seeking re-election.
The Board has endorsed each current director for re-election on the recommendation of the Independent Nominations Committee.
 

blueblooded

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I don’t get the obsession with paying off the debt unless the interest on it was high. People think debt is a bad thing, but it’s the complete opposite if you get into debt to generate more income. The $4M that was just paid off should have been put towards the development of additional income streams not the lump sum payment of debt as you would get a higher rate of return. Right now money is cheap so it’s the time to be getting into debt not paying it off.
I stand corrected but I don't think the type of debt we had was income generating - we had significant debts from the Legends Stand and the club stopped generating income from the ground in 2004 or whatever it was. Plus we had the fines and all of that around that time - added all up it wasn't the type of debt we were making money from. Again stand corrected but it wasn't good debt from my read of it.

if the club wants to take on debt now and generate a return from it that's a different ball game.

well done to all involved - record membership, no "bad" debt, new facilities, best list profile and talent we've had in 20 years ... really Mark and the board have done an amazing job. He's copped a bit of stick externally because he's not as vocal and doesn't come across as part of the football brotherhood that Eddie McGuire, Gil and Peter Gordon seem part of so he doesn't attract the spotlight, nor would he be looked after media wise but he's overseen the biggest transformation in the history of the club into a modern organisation, brought the members along and we stand ready to really become a part of it now.

amazing effort!
 

gab213

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I think that MLG will remain on the board but retire as President which isn't a bad thing. I like the idea of people occupying the very top positions for no longer than 5-8 years. It keeps things fresh, allowing for new ideas and approaches to things. 8 years is enough to follow through on any big changes that you wish to oversee.
 

DangerousD

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I don’t get the obsession with paying off the debt unless the interest on it was high. People think debt is a bad thing, but it’s the complete opposite if you get into debt to generate more income. The $4M that was just paid off should have been put towards the development of additional income streams not the lump sum payment of debt as you would get a higher rate of return. Right now money is cheap so it’s the time to be getting into debt not paying it off.
You are leaving out a very very important piece of information here. Is the debt good or bad, there is a big difference and one the President would be very aware of, seeing as though he has made his money from investing.

By being desperate to pay off the debt, I assume it’s bad debt and getting rid of it, is a fantastic thing for our club.
 

Dramoth

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Mark Lo is up for re-election


This is from the online voting site (Computershare) and I have just voted -

3 Board positions available:-

Craig Mathieson

Jeanne Pratt

John Hollingsworth

Mark Lo Giudice

Steve Khatib


Current director/s seeking re-election.
The Board has endorsed each current director for re-election on the recommendation of the Independent Nominations Committee.
Ok, that’s a board position. IIRC, we altered our by-laws to limit the term of president to 6 years? I think it was done to prevent another Elliott type cult of personality taking over the board and turning into a private schoolboys club.
 

Kramer1

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Oct 8, 2007
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I don't mean to be cynical...old habits and all...debt free is grouse, but where has the $4m come from?
 

Dramoth

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I don't mean to be cynical...old habits and all...debt free is grouse, but where has the $4m come from?
That’s what just struck me as well.

Could it be that finally, our rich benefactors dipped their hands into their sky rockets, pulled out some spare change and donated it to the club?
 

Kramer1

Brownlow Medallist
Oct 8, 2007
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That’s what just struck me as well.

Could it be that finally, our rich benefactors dipped their hands into their sky rockets, pulled out some spare change and donated it to the club?
I hope not Dram...would undo a lot of good.
 

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Kramer1

Brownlow Medallist
Oct 8, 2007
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One time charitable donation to the club.

Mind you, two good years with memberships would see us very well off in that regards. 2 years of 67k memberships is 13.4 million.
Nah...we've been on their tit enough in the past. Needs to be legitimate.

We did have 11m sitting in cash and equivalents...dunno why...the claim with the Matho deal.way back was that our return would grow exponentially after a few years...maybe that's it? Maybe it's just Matho's tits that we're celebrating?
 

Kreuz Control

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I don’t get the obsession with paying off the debt unless the interest on it was high. People think debt is a bad thing, but it’s the complete opposite if you get into debt to generate more income. The $4M that was just paid off should have been put towards the development of additional income streams not the lump sum payment of debt as you would get a higher rate of return. Right now money is cheap so it’s the time to be getting into debt not paying it off.
The main reason they wanted it paid off ASAP is because the AFL now have no say over how we run the club, and that's from the horses mouth. As long as you have outstanding debt to the AFL then they have a say. That's no longer the case.

They could have done it last year but when COVID hit they decided to keep the powed dry so they could continue to invest in the club, where many couldn't. Huge effort by all involved.
 

Dramoth

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Nah...we've been on their tit enough in the past. Needs to be legitimate.

We did have 11m sitting in cash and equivalents...dunno why...the claim with the Matho deal.way back was that our return would grow exponentially after a few years...maybe that's it? Maybe it's just Matho's tits that we're celebrating?
Maybe we can start looking at alternatives to the pokies that Matho gave us.
 

Metalcrusher

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The main reason they wanted it paid off ASAP is because the AFL now have no say over how we run the club, and that's from the horses mouth. As long as you have outstanding debt to the AFL then they have a say. That's no longer the case.

They could have done it last year but when COVID hit they decided to keep the powed dry so they could continue to invest in the club, where many couldn't. Huge effort by all involved.
which makes sense with the “Carlton has told the afl we are no longer an afl assisted club rhetoric” .....
 

CJMB

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Aug 30, 2017
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which makes sense with the “Carlton has told the afl we are no longer an afl assisted club rhetoric” .....
but we were only able to say that after we'd paid the debt off. What Kreuz Control said makes sense to me. They opted to be a little safer last year, with all the uncertainty around money from memberships/gate/tv/etc, but now that things are looking better they've gone and paid the outstanding debt.
 

SurreyBlue

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May 1, 2002
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The main reason they wanted it paid off ASAP is because the AFL now have no say over how we run the club, and that's from the horses mouth. As long as you have outstanding debt to the AFL then they have a say. That's no longer the case.

They could have done it last year but when COVID hit they decided to keep the powed dry so they could continue to invest in the club, where many couldn't. Huge effort by all involved.
:hearteyes:
 

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