Richmond 2021 financial result

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DeLaCon

Team Captain
Nov 15, 2019
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If the governments contributions of $30 million are already attributed then its fair to say we are not as wrll off as a club as many members and supporters seem to think and we have to find another $35 million to close the funding gap on the new development.
 
Dec 9, 2006
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Danistan
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It's easy to say just get rid of the Wantirna Club, but it has a very specific "Club" licence, meaning we can't just sell it to any Tom, Doris or Harry. It can be transferred to another Club as a willing buyer. There's not too many clubs in the market.


Membership "yield", or the net revenue per member is often impacted by a club's home ground venue. The MCG is a 100,000 seat stadium. Our member yield is relatively low compared to other clubs because we do not have latent demand for a premium membership like a reserve seat membership. With a sizeable venue, most members are comfortable to buy an 11 home game membership with no reserve seat. Clubs like West Coast and Geelong have a higher member yield due to the limited capacity driving premium membership demand. So the relationship between member numbers and member revenue is not necessarily a constant lineal relationship.

Haere Ra

You're a legend. Thank you.
 

AstuteTiger

Premiership Player
Mar 22, 2009
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Well. The Federal Govt $15m was committed in 2019.

Richmond FC secures Federal Government funds for Swinburne Centre redevelopment - Australasian Leisure Management (ausleisure.com.au)

Pretty sure it's a non-reciprocal grant and would have been recognised as revenue when the commitment was announced.

Haere Ra

Yes, we know that The Fed Gov't announced a $15 Million Grant in March 2019 and the State Gov't in November 2020 but the funds are only provided when the project is given the go-ahead. No chance the state and federal governments give us money until the final investment decision is made.

We also had objections from some to heritage victoria re the jack dyer stand. Those objections have now been settled/approved. And work can commence in 2022.
As stated it's not on the balance sheet, so I don't believe we have received it as yet.
 

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KiwiTiger

Premium Gold
Feb 28, 2010
4,644
18,752
The 3121 Island
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Yes, we know that The Fed Gov't announced a $15 Million Grant in March 2019 and the State Gov't in November 2020 but the funds are only provided when the project is given the go-ahead. No chance the state and federal governments give us money until the final investment decision is made.

We also had objections from some to heritage victoria re the jack dyer stand. Those objections have now been settled/approved. And work can commence in 2022.
As stated it's not on the balance sheet, so I don't believe we have received it as yet.

Just out of interest, how do you think a non-reciprocal grant should be disclosed in the balance sheet?

Haere Ra
 

AstuteTiger

Premiership Player
Mar 22, 2009
4,438
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Just out of interest, how do you think a non-reciprocal grant should be disclosed in the balance sheet?

Haere Ra

It's not included that's my view, I've also asked a few people just to double-check as i was curious they have said the same. You're making assumptions that it's included, the concise report does not show that anywhere.
 
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A Tiger 4 lyf

Norm Smith Medallist
Nov 26, 2013
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How much from 2020/back2back premiership merch ?


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sregit

Club Legend
Feb 9, 2012
2,479
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Hawthorn
AFL Club
Richmond
Good result considering. Wondering how much PRO development is going to squeeze our liquidity position. Jobkeeper still a significant number, would have incurred a loss c$1m without it. Results are to 31/10 so shouldn't be much carryover of COVID restriction impacts into FY22 - fingers crossed no more lockdowns. Will be interesting to see how our membership number goes in 22 post missing finals for the first time in a while. Would be good to be out of gaming from a social perspective (my personal view) but unclear on what it's contributing without knowing how much COVID cost in lost revenues and how much jobkeeper we got out of it. At face value looks like a small net drain in FY21? Have requested the full financial report.
Any season/year a loss is not declared is a good one.
 

NZ_Tiger

Norm Smith Medallist
Aug 30, 2011
7,939
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kensington
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It's not included that's my view, I've also asked a few people just to double-check as i was curious they have said the same. You're making assumptions that it's included, the concise report does not show that anywhere.

I’m going to side with the clubs risk and compliance officer on this one.


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Infamy

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Oct 1, 2004
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Melbourne, VIC
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If the governments contributions of $30 million are already attributed then its fair to say we are not as wrll off as a club as many members and supporters seem to think and we have to find another $35 million to close the funding gap on the new development.
I can't see how the $30m in the bank would only be the government grants, we've been making large profits for the best part of a decade now.
I think it would add up about right for the $15m to be in there, but the rest should be our profits since being debt free
 

Rioli2Rioli

Premium Platinum
Nov 23, 2015
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#17
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Kiwi... in another thread people are discussing why RFC havent tried to purchase at least a couple of the terrace houses opposite Punt Road Oval and then developed those internally into office space. It would give the club ownership of some freehold property and alleviate some of the office space issues the club has.

Dusty wants too much for them
 

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Rioli2Rioli

Premium Platinum
Nov 23, 2015
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#17
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I can't see how the $30m in the bank would only be the government grants, we've been making large profits for the best part of a decade now.
I think it would add up about right for the $15m to be in there, but the rest should be our profits since being debt free
Not sure how that can be included when the project has not began yet , I only know about private investment but i cant see anybody giving mney to something that has not began and even after its started it will be in progress payments and the government will hold off paying any money until it has to pay it.
 

Infamy

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Oct 1, 2004
11,880
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Melbourne, VIC
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Not sure how that can be included when the project has not began yet , I only know about private investment but i cant see anybody giving mney to something that has not began and even after its started it will be in progress payments and the government will hold off paying any money until it has to pay it.
Would need to go back over our financial results for the last 10 years to see how the cash on hand number has changed with each year's profits
I can't be bothered taking the time to do that, but I wouldn't have thought we'd be up as much as $30m just yet
 

Do the Dew

Club Legend
Feb 14, 2019
1,557
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Stuart Dew's Gut
AFL Club
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I'm sure all options are being considered in the best interests of the members. Investing in nearby property is not a new idea, but you must remember that approximately $30m of cash and investments on our balance sheet is earmarked for the PRO redevelopment. It's committed funding accountable to government that we can't just use to buy the Royal Hotel or some such.

Haere Ra
Can we buy Collingwood's Holden Center and raze it to the ground?

Money well spent in my book.
 

Infamy

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Oct 1, 2004
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Mr Magic

Brownlow Medallist
Mar 1, 2010
20,678
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That article doesn't seem to work, but from what I recall of that story, it's based on a sponsorship deal
Certainly wouldn't be the first sporting organisation to take advantage of it though, just look at the stadium the LA Lakers & Clippers play in


lol, becoming irrelevant compared to the Warriors.

Looks like a signal of a sinking ship and a empire in decline

There is a fair chance crypto will be banned in the years ahead due to bad economic consequences affecting the citizens of the world including employees and businesses.

It is hard to incentivise people when crypto currency, as a speculation vehicle, is running loose in a upward direction and little to stop it
 
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PetterdHoisted

Norm Smith Medallist
Apr 27, 2014
5,686
8,483
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Can we buy Collingwood's Holden Center and raze it to the ground?

Money well spent in my book.
lol normally I might agree, but given we are going to trash the Jack Dyer Stand, not keen on taking out a 1956 Olympic venue too!

Change our name from Richmond to Whelan
 

SunshineBoy

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Jan 3, 2012
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lol normally I might agree, but given we are going to trash the Jack Dyer Stand, not keen on taking out a 1956 Olympic venue too!

Change our name from Richmond to Whelan
E896A5CC-F074-4AA7-B17C-D22BA41C572A.jpeg
 

blaisee

Norm Smith Medallist
Aug 11, 2004
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lol, becoming irrelevant compared to the Warriors.

Looks like a signal of a sinking ship and a empire in decline

There is a fair chance crypto will be banned in the years ahead due to bad economic consequences affecting the citizens of the world including employees and businesses.

It is hard to incentivise people when crypto currency, as a speculation vehicle, is running loose in a upward direction and little to stop it

WTF are you on about?
 

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