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

[HBF]

Bloody fantastic effort by everyone at the club.
So nice not to have that debt hanging around our necks, and we can continue to go from strength to strength.

 

[SurreyBlue]

He might not be the most outspoken or public president but who gives a sh1t when he leads a board who has accomplished such a great financial result.
As I said previously, MLG has done a great job to turn us around and I hope he stays on for some success.

 

[FitzroyBlueBagger]

I'd also like to point out that Mark LoGiudice is a useless president. He is a terrible public speaker and has no public presence, seemingly in spite of the fact that a president's work is almost exclusively done behind closed doors.

The fact that we have navigated sponsorships relatively well in recent years - including the collapse of Virgin - all stems from us having the best-looking jumper in the AFL and the fact that big business loves to throw money behind sporting clubs that have had poor culture and terrible community standing until recently.

The fact that we have appointed (what seem to be) the right people to turn around this club - pretty much since MLo joined - is purely due to attracting the best of the best with the perks that come with executive roles, such as the free Ikon Park parking and discounts at the Carlton Shop.

Also, he inherited his family business and is overweight. That needs to be pointed out as both make him unqualified to have an influential role at the club....

No doubt the membership rises too record highs every year has made a significant impact on the financial side of things for the club very well done Cain & others envolveld’ but the Pres has been absolutely magnificent ‘couldn’t give a f’k about his public speaking’ he has played a major part in helping set this club back up with diverse long term planning, basically restructuring the entire club and it’s culture into relevance and regaining back pride...

 

[FitzroyBlueBagger]

He might not be the most outspoken or public president but who gives a sh1t when he leads a board who has accomplished such a great financial result.
As I said previously, MLG has done a great job to turn us around and I hope he stays on for some success.

Spot on SB...

 

[Aphrodite]

MLo doesn't get the credit he deserves!

 

[thylacine60]

Amazing.

 

[Kruezing]

MLo doesn't get the credit he deserves!

No he doesn’t ... he has done a brilliant job to get our off field situation in order ... we are now perfectly placed to deliver on field ... well done !

 

[BlueJet]

It's been a long time coming but well done to all involved in turning the clubs fortunes around on & off field.
Credit too to those members that never wavered during some pretty bleak times.

 

[jj1978]

MLG been best president in my lifetime (43 years). He hasn't destroyed us -Elliot, didn't sell us out like Collins, Pratt was too short-lived, Kernahan was too in-experienced and couldn't seperate his love for the team from the business side of running things.

Well done MLG for doing it quietly, having some hiccups as all businesses do, navigating the politics, the people and the industry, when you step down you'll be going out with "I did it my way"...

 

[FRUMPY]

Great the club is debt free. I dont take notice of the financials too much but was this debt (and other things along the journey as well) from the making of the legends stand? Or something completely different. FMD that stand was a waste of money - even when they built it, it was obvious the ground wasnt going to be used for much longer - nowhere near the life of the stand anyway.

 

[jj1978]

Great the club is debt free. I dont take notice of the financials too much but was this debt (and other things along the journey as well) from the making of the legends stand? Or something completely different. FMD that stand was a waste of money - even when they built it, it was obvious the ground wasnt going to be used for much longer - nowhere near the life of the stand anyway.

Legends stand set us back a lot (~9mil??), considering shortly after we got hit with Salary Cap saga (+ Million fine), AFL didn't want teams to play at suburban grounds anymore as they wanted to get everyone at their precious new Dome (30,000 needed to attend just to break even), wooden spoons... no finals...

The perfect storm all around that could've crippled us.

 

[RPCB]

Feels so, so good to be debt free. What a collective effort to reach a point where not only has the rebuild gone incredibly well and we’ve had some very good footballers wanting to come here (Papley, Martin, Williams and Saad) over the last two years but the club has killed it off the field with our clubs financials.

 

[Pablito]

Great stuff.
Next step: Replace revenue from gaming venues with something that doesn't ruin lives and pray on the vulnerable.

 

[Chookaradley]

Awesome!. Can be no denying the club off the ground has grown in leaps and bounds.

I wonder if the AFL pay us to have Optus oval as the marquee stadium in Vic?.

 

[FRUMPY]

Great stuff.
Next step: Replace revenue from gaming venues with something that doesn't ruin lives and pray on the vulnerable.

Doesnt stop the venues ruining lives or praying on the vulnerable - money may as well go back to a sporting organisation that gives people hope and something to support, rather than some fat cat (just my opinion)

 

[Aphrodite]

Legends stand set us back a lot (~9mil??), considering shortly after we got hit with Salary Cap saga (+ Million fine), AFL didn't want teams to play at suburban grounds anymore as they wanted to get everyone at their precious new Dome (30,000 needed to attend just to break even), wooden spoons... no finals...

The perfect storm all around that could've crippled us.

I think it was more in the vicinity of $16M from memory.

 

[FRUMPY]

Feels like what Richmond would have been like a few years back - when those member numbers grew so big, making plenty of money. I presume they paid off all their debt and then could increase spending in other football related areas......then you see the results

 

[FitzroyBlueBagger]

Now let’s get out of Marvel Stadium when that deal expires, all home games full time at the ‘G’ ...

 

[Pablito]

Doesnt stop the venues ruining lives or praying on the vulnerable - money may as well go back to a sporting organisation that gives people hope and something to support, rather than some fat cat (just my opinion)

Not a bad point tbh. I guess if there's money to be made, someone else will just buy the license and people's lives will still be ruined. Victorian government should step up.

 

[El Topo]

molto bene Loguidice

 

[Jeremias]

Great effort. Well done to all involved.

Next step - get us back to the MCG.

Wonder if the naysayers will give credit where it’s due or if they’ll continue to pot MLG bEcAuSe He’S oVeRwEiGhT aNd NoT a GoOd PuBlIc SpEaKeR...

 

[SurreyBlue]

As a side note - I'm enjoying the presidential discussion on the Collingwood board....

 

[David Sylvian]

Time for another bottle then...Cheers!!!

 

[AndyWalkersGirl]

Great to hear this news!

 

[blue89]

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.