PAFC Financial Stability

[rumoursofwinter]

Reported that Choco is likely to be offered a position at GWS. I assume this will save us some $.

http://www.heraldsun.com.au/sport/a...ern-sydney-talks/story-e6frf9jf-1225949111805

 

[RussellEbertHandball]

Reported that Choco is likely to be offered a position at GWS. I assume this will save us some $.

http://www.heraldsun.com.au/sport/a...ern-sydney-talks/story-e6frf9jf-1225949111805

Why? His tax adviser would have told him to take his payout as a lump sum, not an income stream, as he would have paid less tax. Also as a lump sum eligible termination payment, he can also roll all or part of it over into his super fund for further tax benefits.

 

[Natman]

Why? His tax adviser would have told him to take his payout as a lump sum, not an income stream, as he would have paid less tax. Also as a lump sum eligible termination payment, he can also roll all or part of it over into his super fund for further tax benefits.

BF rumour has it that a clause could be included in a coaching contract that enables a club to offset any early termination payout against other coaching related earnings for the remainder of the terminated contract.

I am only repeating rumours here - I don't know if it is true or even whether such a clause would be enforceable.

 

[Portology]

BF rumour has it that a clause could be included in a coaching contract that enables a club to offset any early termination payout against other coaching related earnings for the remainder of the terminated contract.

I am only repeating rumours here - I don't know if it is true or even whether such a clause would be enforceable.

a dreaded 'non-compete clause' eh ? even if 'enforceable' in australian law how would enforcement happen with an ETP if choco has parked it in a place like super where it can't be easily extracted or returned to us because of the tax treatment. you'd almost have to put the ETP somewhere temporarily until the time period specified in any non compete clause had elapsed. otherwise the act of putting the money beyond reach... ah I don't know

 

[ROCKETT24]

Port Adeliades Financials Troubles

Hi people.

Sorry to start a thread on your board, but I honestly would like to know if people know what the deal is with the Ground scenario for Port/Crows and the deal with requiring AFL assistance.

I have no idea why this is happening and everything, so if people have knowledge about it, it would be appreciated.


Thanks

 

[blaargh]

Re: Port Adeliades Financials Troubles

http://www.bigfooty.com/forum/showthread.php?t=554729

try that thread...the search function works a treat...

Also, try and concentrate in your english lessons - it could help you

 

[ROCKETT24]

Re: Port Adeliades Financials Troubles

What did I say wrong...

 

[blaargh]

Re: Port Adeliades Financials Troubles

Nothing mate - just a few mistakes in the thread title

I hope that thread helps you - it is a pretty good read.

 

[ROCKETT24]

Re: Port Adeliades Financials Troubles

haha..yep i see it now. Typing fast.

Thanks for the link.

 

[Forzaport]

Re: Port Adeliades Financials Troubles

Well put simply, the SANFL owns the licence for both AFL clubs and AAMI stadium and milks every single cent they can out of it to run their own backyard competition.

The tail wags the dog in SA and the AFL clubs suffer for it.

 

[Steve Dore]

Re: Port Adeliades Financials Troubles

.... The tail wags the dog in SA and the AFL clubs suffer for it.

Would it be appropriate for Leigh Whicker to suffer the same fate as Dustin Hoffman's character in Wag The Dog.

 

[Forzaport]

Re: Port Adeliades Financials Troubles

The irony wouldn't be lost on me

 

[RussellEbertHandball]

Another reason why Port has to continue to be inovative to compete and one of the biggest reason driving the OnePAFC push - pokies

AFL behind the times on problem gambling

AFL behind the times on problem gambling
Matthew Nicholson
May 27, 2010

......

The Gaming Machine Entitlement Outcomes announced on May 20 reveal that nine of the 10 Victorian-based AFL clubs have bought gaming (poker) machine licences that will run for 10 years from 2012: in the auction Carlton secured 260 machines; Collingwood 191; Essendon 190; Geelong 182; Western Bulldogs 95; Melbourne 92; St Kilda 83; Hawthorn 75; and Richmond 70. Many of these machines are located in areas of Melbourne and Victoria in which the residents experience significant socio-economic disadvantage..............

AFL behind the times on problem gambling

Edit follow up article 3 days later by Caro;

Pokies deal sparks AFL clubs feud

SEVERAL Melbourne-based AFL clubs are involved in a bitter feud over the spoils of a multi-million-dollar bonanza to be reaped from the state government's recent auction of poker machine licences.

The pokies auction has secured the short-term futures of several clubs after they managed to secure licences at massively discounted prices.

But the Western Bulldogs and Richmond are seething after Carlton took over some of their lucrative venues - thanks to the intervention of pokies king and former Carlton director Bruce Mathieson.

The Blues have gone from having one pokies venue to four, with at least 260 machines secured at the bargain basement price of $5500 each.

.....

The Bulldogs have finished up with 55 machines, which the club purchased at an average cost of $62,000 each.

Licences for the state's 27,500 poker machine were sold as a result of the government's decision to end the duopoly on licences previously held by Tattersall's and Tabcorp.

Hawthorn was celebrating after the silent auction, having paid the $5500 minimum for some 100 machines for which it had considered bidding as much as $110,000 each.

Melbourne's board allocated $4 million for 92 machines at the Mathieson-owned Leighoak club, but ended up paying just $370,000.

Collingwood, St Kilda and Essendon - like Melbourne - took up the option of buying licences for 40 machines before the auction, paying between $25,000 and $40,000 each, before securing the balance of their machines at auction for just $5500 each................

Pokies deal sparks AFL clubs feud

Edit Follow Up articles

20 year extensions to 2042, October 2018 article

Five AFL clubs awarded new 20-year licenses to operate pokies

Carlton, Hawthorn, Essendon, Richmond and St Kilda have all been handed 20 year licenses to continue operating pokies at venues around the state.

www.theage.com.au

Carlton, Hawthorn, Essendon, Richmond and St Kilda have been handed 20 year licenses - beginning in 2022 and running to 2042 - to continue operating pokies at venues around Melbourne following an application process that began in October 2017.

Collingwood, Geelong, Melbourne and the Western Bulldogs will sell their pokies and with that surrender millions in guaranteed yearly revenue, while North Melbourne have long been pokies-free.
AFL clubs keeping pokies were handed licences to operate the same amount of machines they currently own with Carlton (290 machines) the most followed by Essendon (190), Hawthorn (165), Richmond (97) and St Kilda (83).

Hawthorn generated the most revenue from pokies in the last financial year ($24.3 million) followed by Carlton ($18.4 million), Essendon ($11.6 million), Richmond ($5.3 million) and St Kilda ($2.09 million).
It's understood the clubs have told the AFL they'd like to sell their pokies, but don't have viable ways to replace the revenue. The new 20 year licenses can be sold at any time.

Melbourne sell Leighoak venue in Oakleigh April2018

Gambling exit: Demons hit the jackpot with $11m

Melbourne will reap close to $11 million this year by selling their gaming venue as part of the club’s decision to exit pokies.

www.theage.com.au

It is understood that Melbourne – which has a debt of about $5 million – will receive almost $11 million from Moonee Valley in a sale that will take effect on July 31. But, rather than using the proceeds of the sale to wipe off the club’s debt, Melbourne chief executive Peter Jackson said the club intended to reinvest the funds from the sale of Leighoak in other enterprises that would bring a return to the club.

Melbourne earn a net profit of about $2 million from gaming annually. About two-thirds of that figure is derived from Leighoak, which is one of the most profitable gaming venues operated by an AFL club.

The Demons have 92 poker machines at Leighoak and operate a further 88 at the Bentleigh Club.

Melbourne Demons ends cuts poker machine funding

Melbourne Demons has committed to cutting its gambling ties, announcing it will end financial dependence on poker machines.

thenewdaily.com.au

Melbourne sale September 2021 Bentleigh

Demons reap $24 million from Bentleigh Club sale

Melbourne have ended their reliance on poker machine revenue with the club selling its pokies venue, the Bentleigh Club, for $23.7 million.

www.theage.com.au

Hawks sale in 2022

The Hawks’ huge windfall: Club makes $40m from pokies sale

The Hawks have made $40m from the sale of their poker machine assets, but the club isn’t planning to spend any of the money on its planned new base at Dingley.

www.theage.com.au

Hawthorn, already one of the AFL’s most fiscally powerful clubs, has gained more than $40 million in cash from the sale of their poker machine assets.

The Hawks recently completed the sales of their two pokies venues - WestWaters Hotel in Caroline Springs, and The Gardens at Waverley Gardens in Mulgrave - for what sources familiar with the situation said was about $28 million and just under $20 million respectively.

Once debt was subtracted from the sales of these profitable venues, the Hawks will net an aggregate of more than $40 million - which the club plans to place in a new future fund to safeguard Hawthorn’s financial position for the long-term, while also divesting from a business that AFL clubs are increasingly leaving, in part on social responsibility grounds.

Hawthorn does not wish to spend any of that $40 million-plus on the club’s planned new base at Dingley, the Kennedy Community Centre, which they estimate will cost $80 million-$90 million.

Gross figures Hawks sale

AFL club cashes in on Melbourne’s biggest pub deal yet

The $85 million sale of the Caroline Springs venue winds down a large part of the Hawthorn Football Club’s exposure to pokies revenue.

www.afr.com

Nov 2019 Bulldogs exit pokies

Bulldogs finalise sale of poker machines

Chief executive Ameet Bains announced on Wednesday that the Melbourne Racing Club had purchased the Bulldogs’ 65 gaming machine licences.

www.theage.com.au

The Western Bulldogs have officially exited the poker machine industry after finalising the sale of their two pokies venues. Chief executive Ameet Bains announced on Wednesday that the Melbourne Racing Club had purchased the Bulldogs’ 65 gaming machine licences at Club Leeds in Footscray and Peninsula Club in Dromana.

From 2021 annual report Gain on sale 4,001,230 Cash Flow statement - Proceeds from sale of gaming operations 5,470,947

Collingwood sell in July 2018

Collingwood cashes out of pokies

The Magpies have confirmed they are leaving the gaming industry, having agreed to sell their 156 poker machines to the Melbourne Racing Club.

www.theage.com.au

Collingwood have confirmed they are leaving the gaming industry, having agreed to sell their 156 poker machines to the Melbourne Racing Club. As flagged exclusively by Fairfax Media in February, the Pies will sell the licence for their two venues, Ringwood’s The Coach and Horses and The Club in Caroline Springs, with settlement expected to take place in October.

Collingwood had already ceased operation of their Magpie Millions lottery, meaning the club will move away from gaming completely.

From 2019 Collingwood annual report note 9

Discontinued Operations
On 10 July 2018, the group entered into a sale agreement to dispose of The Club Caroline Springs and the
Coach & Horses, which carried out all of the Group’s gaming operations. The disposal was completed on 6
December 2018, on which date control of The Club Caroline Springs and the Coach & Horses passed on to the
acquirer.

Proceeds from sale............................ 17,339,401 -
Book value of assets sold and expenses (9,267,414) -
Profit on disposal of discontinued operations 8,071,987

More pokie stuff
Port board - Discussion on SEN: Pokie revenue
Footy industry - Vic Clubs take $77m in Pokies revenue

 

[Portia]

Jesus.

If VFL clubs were communist party officials, soviet Russia would be proud.

 

[Powerstufff]

Another reason why Port has to continue to be inovative to compete and one of the biggest reason driving the OnePAFC push - pokies.......

Yeah but did the Vic article really have much to do with our situation? The Port Club has pokies that could probably earn more* elsewhere and that was discussed at the One PAFC meeting. But are they one of the biggest reasons driving the OnePAFC push? I don't think so, they are just one of a range of things not delivering optimal financial results from my understanding.

* I have never put a cent in a pokie, and would vote them out of SA if I had the chance. But quite hypocritically I want the ones we have, while they are legal, to perform well.

 

[Power Raid]

* I have never put a cent in a pokie, and would vote them out of SA if I had the chance. But quite hypocritically I want the ones we have, while they are legal, to perform well.

I understand you position.

I just thank my lucky stars I live in a boom town that does not rely upon those dreadful things

If people want to take a punt on something, do something that puts something back into the community rather than lining the pockets of the unscrupulous businesses.

I think PAFC does fit under the banner of community but I would prefer we found a better source of funding

 

[PowerLover]

Re: Some assistant coach names appearing for Port's top job

Well you better take it up with every footy analyst and reporter as they all think we are a basket case and the image we put out isn't far from the truth.

We have been troubled to get sponsorship, we went an extended time without it. Our crowds are equally appualling and it's 4 years before we will likely get to A.O at the shortest.

Our handling of Williams was unporfessional and appaulling and we seem to find it difficult to keep players now.

I agree it isn't all over and I am sure we will bounce back, hopefully as early as next year.

But to sit back, sip on a Chardy and say we'll be right, we are a great club, it will tuirn around in 2014 is a bit over optimistic.

Our public image is shot, this drives interest and let's face the fact other than US, noone really gives a crap about Port. We need this to change. Either hate us or love us we need people looking at us with respect, we no longer have any.

Primus for mine won't make that light shine bright enough IMO and if he strings 5 bad games together next year if he's appointed all the Choco fears will come back.

I'm as positive as they come, but we need to pull our finger out.

This statement is almost as bad as the way that you spelled "appaulling".

Hard to keep players? Salopek, Boak, Gray, Hartlett and many more resigned this season alone - what are you talking about? Shaun Burgoyne....? Surely you jest? Lets look at what we HAVE done in the past 2 years instead......

1. We have largely be the drivers of the shift of AFL to the city and pulled it off! Against the odds, against the AFC, against the SANFL....
2. We have offloaded a culturally cancerous Senior Coach who arguably was bleeding his so called beloved Club dry and breeding arrogance and mediocrity on pur playing group. Now we have a Senior coach who is bringing people together right across the Club with already awesome results and lets just wait to see what our exciting list do on field. One thing is for sure though - they are thrilled to be at our great Club.
3. We have attracted (and retained) the services of legends of the game in Hocking and Laidley
4. We are only days from reuniting a fractured football family and having ONEPAFC
5. We have a plan. A plan with short, medium and long term revenue strategies.
6. We have attracted new Corporate partners to our Club

I have said it before on here and will say it again, WE are the only ones who can improve our crowds. We have an administration team we should be proud of and who are working there arses off but WE are the ones writing negatively about our Club. What hope do we have beening seen externally as a successful Club if we bring ourselves down from the inside?

If you have concerns about anything, and you are a paid up member, go to the AGM - ask the questions. Dont get on here and highlight what you perceive to be negatives because all you are doing is undoing the great work being done.

Trust our Club.

And if you are not a paid up member for 2011 (like I am!) .....why not?

 

[FishingRick04]

Re: Some assistant coach names appearing for Port's top job

This statement is almost as bad as the way that you spelled "appaulling".
Trust our Club.

And if you are not a paid up member for 2011 (like I am!) .....why not?

Dude. I just love people who try to discredit somebody due to a typo. Looks like you will be making jest of me daily

How long ago did I post that comment? were any of those players signed when I made it?

There is nothing wrong with putting heat on the club and having high expectations.

Back in your box now please

 

[rumoursofwinter]

Turned on the radio waiting for the draft. Announced that Choco got a three year contract with GWS.

 

[Power freak 2008]

Looked at the crowd figures at Adelaide Oval in the Fertilizer and they were suprisingly healthy. The weather was good so that would have helped and the ashes usually are a big crowd puller but I didn't think that they would be on track for record crowds.

When the slowdown was played at the Oval it was a crowd puller and died when it went to West Lakes. I know we have a smaller supporter base than the Cows and a move to the city can not be the only thing that we rely on but SA is a footy state. I just want to see one preseason match or Nab game at the oval so we can get a feel for what it is like to have footy in the CBD.

While people may think that SA footy is ailing, the SANFL stand to make a huge windfall from this oval deal for reasons besides the reinvigoration of footy in this state. They own realestate that will allow the West Lakes to develop more housing while extending that lake area.

 

[Ford Fairlane]

It looks like proposed new Australian Government pokie legislation will be far more ruinous than Port Adelaide to the health of the SANFL.

SANFL at risk of pokies ruin
Miles Kemp
The Advertiser
February 05, 2011 12:00AM
link

THE SANFL has warned football clubs face bankruptcy and the competition will fold under new pokies rules.

The league says this would be the impact of a scheme to force gamblers to set a limit on their session. It says the move would halve some clubs' gambling revenue.
link

The SANFL A/CEO's submission to the inquiry is bleak. Like the futures of many gambling addicts?

"The bankruptcy of many clubs would follow," SANFL acting CEO John Lyons says in a submission to a parliamentary inquiry on the reforms.

"Unquestionably, the scheme will impose significant costs on South Australia's AFL and state league clubs and will ultimately lead to job losses and the likely bankruptcy of many state league clubs.

"In summary, the consequences of mandatory pre-commitment will result in the closure of many state league clubs, ending not only the oldest surviving football league of any code in the nation, but also one of the oldest sporting competitions in the world."

It makes you wonder how the league survived at all pre-pokies. Maybe some financial prudence?

 

[blaargh]

This whole issue really is rubbish isn't it? I am definitely biased as I have had someone very close to me basically lose their house through a pokies addiction at a football club, but surely if the ability to limit your own losses is going to affect the clubs to that extent - it is obvious that their profits are coming almost entirely from problem gamblers... not the person that is prepared to lose $20 a session.

I find it truly disgraceful that clubs that pride themselves on being 'community centres' object to measures that would limit the damage that the pokies do in the general community - surely they can see these limits would only protect the people with problems... they will not stop people playing a little after a meal/drink.

Also, bankruptcy my ass... stop paying old AFL players and use the slave labour known as the young footballers and it will do wonders for the bottom line. I know that it has been suggested before - but a compensation system for the SANFL clubs with players drafted in the AFL would belp encourage the clubs to develop their younger players, and perhaps lessen the reliance on the most vulnerable in society.

 

[Natman]

It looks like proposed new Australian Government pokie legislation will be far more ruinous than Port Adelaide to the health of the SANFL.




The SANFL A/CEO's submission to the inquiry is bleak. Like the futures of many gambling addicts?



It makes you wonder how the league survived at all pre-pokies. Maybe some financial prudence?

It also makes you wonder how they survived post Tobacco sponsorship.

The sooner the SNAFL is at the same level at the WAFL and VFL in terms of running costs, then the crap 'we are the second best competition' driver will lose all impact and the motivation to bleed the next higher level to maintain the egomaniacs running some of the SNAFL clubs.

So if the pokie money is reduced, there is the big white elephant that can be sold for a few hundred million after the AO is built - wisely invested that should prop the competition up for a few years.

 

[tribey]

Pokie addicts and people like them are welcome to 20 Free Games on Tribey's Taint.

Thanks to these gimps and their utter lack of self-control pretty soon you won't be able to have a punt, enter a licensed premises after 10pm or order a Big Mac without paying $10 for the privilege. Society's vulnerable! Clean up the streets! The stress on our healthcare system! Think of the children!

Remember the good old days when idiots could lose their paypacket at the trots, have more than 3 Eagle Blues without feeling the need to knife someone or look at their third tub of neopolitan ice cream and go 'yeah nah, I'm probably full'.

Harden up Australia.

 

[Peck]

FWIW I wouldn't think the majority of pokies money would come from problem gamblers, could well be wrong though.

This PDF states that 24% of pokies money comes from the problem gamblers, which make up 3% of the pokies users.
Link
This is in New Zealand of course.