The Warlord
RuSsIa iS BaD
- Aug 21, 2018
- 30,313
- 76,654
- AFL Club
- North Melbourne
In what sense?
Toast North Melbourne Debt free
- Thread starter giantroo
- Start date
- Tagged users None
In what sense?
It was announced that we had become debt free.
Each year the AFL distribution goes to clubs. Did that payment go towards making us debt free or did the club get debt free prior to that
Each year the AFL distribution goes to clubs. Did that payment go towards making us debt free or did the club get debt free prior to that
The afl distributes between 14 mill and 20 mill to all clubs each year. So your question doesn’t really make sense to me.
North generated a profit of $450k for the 2021 year, all revenue minus all expenses. When used to pay down debt, that profit extinguished debt, thus we are now debt free.
If you need more, yes, the $16 mill (approx) distributed to us from the afl is incorporated into our debt free position.
