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- Norwood AdelaideUtd
Eagles' radical plan to expand
BEN MARTIN and JOHN McGRATH
EXCLUSIVE
The West Coast Eagles are poised to unveil a radical plan to expand beyond football by investing in a pub, rental properties and shares.
Eagles chairman Dalton Gooding confirmed yesterday that secret talks were under way to buy a site in the heart of the Subiaco entertainment strip for a huge licensed clubhouse which will become the focal point for the Eagles' off-field activities.
The new clubrooms would give fans a central place to celebrate before and after Subiaco Oval matches and somewhere to watch away games broadcast on big screens. Mr Gooding said players could meet fans after games or at mid-week functions. Memorabilia, including two premiership cups, might be displayed to create a club atmosphere.
He declined to reveal the location of the venue but said the club expected to pay up to $4 million to buy and develop the property.
"We've been looking around the Subiaco strip for a long time," Mr Gooding said.
"We'd be looking at a $2 million to $4 million investment. It would be a large premises, no doubt about that. We are searching the market and we're in discussions with a party."
Bar, food and merchandise profits would provide additional cash flow for the club, which was on the verge of reaching its membership limit.
"And there's only so much you can charge sponsors," Mr Gooding said. "You need to invest in other assets. We would try to build a good balance of investments."
The Eagles devised the expansion strategy after the WA Football Commission advised the club in recent days that it could expect a significant financial windfall under changes to a royalty arrangement.
But the commission questioned yesterday whether it would grant the club approval it needed to make such diverse investments.
"We are very supportive of them having a facility for their supporters," commission chairman Neale Fong said.
"They've talked about buying properties, hotels or whatever, for their supporters' club. That could at the same time be an appreciating asset.
"But just going outright and kind of getting into property investments and all sorts of things, we would like to see the business plan for that.
"They are a board that has been put in place to run a football club. If they diversify into other fields, well maybe the board would need to be looked at again.
"We want to ensure . . . that the good of football is served, not just the Eagles. The Eagles are not there just to look after themselves."
The Eagles pay 80 per cent of their profits - $1.6 million last year - to the commission.
But Mr Gooding said the club hoped the royalty regime would be slashed to about 50 per cent, leaving the Eagles with $1 million a year.
The changes are also expected to see the Fremantle Dockers - which made about $700,000 profit last season - start contributing to the commission when their two-year exemption from royalty payments ends this year.
http://www.thewest.com.au/20040419/news/general/tw-news-general-home-sto123491.html
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C'mon Crows, fans have been begging for something like this in the CBD for years...........A pub/club. Go for lunch or dinner, see some memorabilia, watch an away game on the BIG screen, buy merchendise from a Crowmania in the City, buy tickets for games/finals from a licensed bass outlet (only open for footy purposes), those fools who want to play the pokies can contribute to the AFC that way.....plenty of ideas.
How bout it?
BEN MARTIN and JOHN McGRATH
EXCLUSIVE
The West Coast Eagles are poised to unveil a radical plan to expand beyond football by investing in a pub, rental properties and shares.
Eagles chairman Dalton Gooding confirmed yesterday that secret talks were under way to buy a site in the heart of the Subiaco entertainment strip for a huge licensed clubhouse which will become the focal point for the Eagles' off-field activities.
The new clubrooms would give fans a central place to celebrate before and after Subiaco Oval matches and somewhere to watch away games broadcast on big screens. Mr Gooding said players could meet fans after games or at mid-week functions. Memorabilia, including two premiership cups, might be displayed to create a club atmosphere.
He declined to reveal the location of the venue but said the club expected to pay up to $4 million to buy and develop the property.
"We've been looking around the Subiaco strip for a long time," Mr Gooding said.
"We'd be looking at a $2 million to $4 million investment. It would be a large premises, no doubt about that. We are searching the market and we're in discussions with a party."
Bar, food and merchandise profits would provide additional cash flow for the club, which was on the verge of reaching its membership limit.
"And there's only so much you can charge sponsors," Mr Gooding said. "You need to invest in other assets. We would try to build a good balance of investments."
The Eagles devised the expansion strategy after the WA Football Commission advised the club in recent days that it could expect a significant financial windfall under changes to a royalty arrangement.
But the commission questioned yesterday whether it would grant the club approval it needed to make such diverse investments.
"We are very supportive of them having a facility for their supporters," commission chairman Neale Fong said.
"They've talked about buying properties, hotels or whatever, for their supporters' club. That could at the same time be an appreciating asset.
"But just going outright and kind of getting into property investments and all sorts of things, we would like to see the business plan for that.
"They are a board that has been put in place to run a football club. If they diversify into other fields, well maybe the board would need to be looked at again.
"We want to ensure . . . that the good of football is served, not just the Eagles. The Eagles are not there just to look after themselves."
The Eagles pay 80 per cent of their profits - $1.6 million last year - to the commission.
But Mr Gooding said the club hoped the royalty regime would be slashed to about 50 per cent, leaving the Eagles with $1 million a year.
The changes are also expected to see the Fremantle Dockers - which made about $700,000 profit last season - start contributing to the commission when their two-year exemption from royalty payments ends this year.
http://www.thewest.com.au/20040419/news/general/tw-news-general-home-sto123491.html
------------------
C'mon Crows, fans have been begging for something like this in the CBD for years...........A pub/club. Go for lunch or dinner, see some memorabilia, watch an away game on the BIG screen, buy merchendise from a Crowmania in the City, buy tickets for games/finals from a licensed bass outlet (only open for footy purposes), those fools who want to play the pokies can contribute to the AFC that way.....plenty of ideas.
How bout it?
