Richmond's 2011 Operating Profit

[Tzatziki_Man]

Collingwood 3.8 million
Hawthorn 2.0 million
St Kilda -1.8 million

Richmond???

I'm expecting a 850,000-1million dollar profit.

 

[Rustof]

Do they count the FTF?

 

[El Tigre]

Do they count the FTF?

They shouldn't. It is part of "abnormals". But these figures are manipulated at times. It would make sense to keep the profit as low as possible (without needless spending), to gain the most financial help from the AFL. But I'm sure the AFL are onto that, and scrutinise each clubs finances pretty well.

 

[RFC_Official]

Do they count the FTF?

We don't.

 

[UpTheGuts]

Once we're winning heaps of flags and making $20m a year, can there be a capital distribution to members?

I'd be hopeful of more than $1.5m. Favourable draw (financially), selling 2 games, record membership and paying 92.5% of the cap

I suspect though that a big headline profit might not be the right result to send to those being invited to support the FTF, so something around $650k may be massaged...

 

[Groupie_]

How the f did St Kilda make that much?

 

[Tzatziki_Man]

Sorry Riewoldt_Groupie, they're in the red by that much, they've lost 1.8 million

 

[Ned_Flanders]

Once we're winning heaps of flags and making $20m a year, can there be a capital distribution to members?

I'd be hopeful of more than $1.5m. Favourable draw (financially), selling 2 games, record membership and paying 92.5% of the cap

I suspect though that a big headline profit might not be the right result to send to those being invited to support the FTF, so something around $650k may be massaged...

remember we are losing some of our pokies revenue this year, and also had an increase in the footy dept spend

Also we cannot forget RFC_O's wage. Apparently his renumeration is tied to the number of times he gets asked (a) about Ben Cousins, (b) why we don't have open training sessions, and (c) is da Goo really still on the list.

Speaking of which.......RFC_O, is it true that the closed training session last week was due to Ben Cousins being secretly back at the club for a fitness test with a view to return to the AFL, and Gourdis will "retire" to make way for him if needed?

 

[THE_GUN]

remember we are losing some of our pokies revenue this year, and also had an increase in the footy dept spend

Also we cannot forget RFC_O's wage. Apparently his renumeration is tied to the number of times he gets asked (a) about Ben Cousins, (b) why we don't have open training sessions, and (c) is da Goo really still on the list.

Speaking of which.......RFC_O, is it true that the closed training session last week was due to Ben Cousins being secretly back at the club for a fitness test with a view to return to the AFL, and Gourdis will "retire" to make way for him if needed?

Stig is on 250,000 a year but 50% of his salary is paid by jeep ! along with his beautiful black jeep

 

[RFC_Official]

Stig is on 250,000 a year but 50% of his salary is paid by jeep ! along with his beautiful black jeep

I call her the stallion...

 

[THE_GUN]

I call her the stallion...

I noticed there was no deniel about the salary there stig !

Well deserved mate you really do a great job and entitled to the $6 commision from every membership sold.

Lets hope we get to the 75,000 like BG predicts ($450,000) salary for the stig

You should be on par with Brett Delidio at that rate

 

[telsor]

I call her the stallion...

Stig, I recognise that compared to Dusty, all males are...'less impressive'... but I believe that Stallions are still male.

 

[RFC_Official]

Stig, I recognise that compared to Dusty, all males are...'less impressive'... but I believe that Stallions are still male.

Whoops, I mean Black Beauty!

(It's quite obvious now I A) don't own the car B) my salary is not holding back the earnings report)

 

[Punt_Road_Roar]

Whoops, I mean Black Beauty!

(It's quite obvious now I A) don't own the car B) my salary is not holding back the earnings report)

I think it should be noted in your next performance appraisal.

1. New Jeep

2. $3 per membership sold.

 

[TheLoungeLizard]

Get it in your next contract that you get 3 dinners with Dusty.

.... You know you want to.

 

[CeltDave]

http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/126402/default.aspx

Here it is $51k

The Richmond Football Club has recorded an operating profit of $51,000 - excluding fundraising, gaming and government grants - for the financial year ending October 31.

In reporting the operating profit, the Club confirmed it had reduced its debt by $1 million, from $4.5 million to $3.5 million.

The Club’s net profit was $2.75 million, with its net asset position improving from $13.3 million to $16.05 million year on year.

“We continue to make solid progress in line with the targets we have set ourselves as a Club,” said Richmond president Gary March.

“We recorded an operating profit and reduced our debt by $1 million. We have made provision for the redevelopment of Punt Road Oval - a critical investment in football - heavily increased football department expenditure, and delivered a record membership on the back of the most loyal supporter base in the game.

 

[_RT_]

http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/126402/default.aspx

Here it is $51k

The Richmond Football Club has recorded an operating profit of $51,000 - excluding fundraising, gaming and government grants - for the financial year ending October 31.

In reporting the operating profit, the Club confirmed it had reduced its debt by $1 million, from $4.5 million to $3.5 million.

The Club’s net profit was $2.75 million, with its net asset position improving from $13.3 million to $16.05 million year on year.

“We continue to make solid progress in line with the targets we have set ourselves as a Club,” said Richmond president Gary March.

“We recorded an operating profit and reduced our debt by $1 million. We have made provision for the redevelopment of Punt Road Oval - a critical investment in football - heavily increased football department expenditure, and delivered a record membership on the back of the most loyal supporter base in the game.

All things considered its quite good.

 

[TheLoungeLizard]

All things considered its quite good.

Exactly what I thought.

 

[fargothegreat]

Could've been $61,000 if it wasn't for that cap breach

 

[THE_GUN]

http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/126402/default.aspx

Here it is $51k

The Richmond Football Club has recorded an operating profit of $51,000 - excluding fundraising, gaming and government grants - for the financial year ending October 31.

In reporting the operating profit, the Club confirmed it had reduced its debt by $1 million, from $4.5 million to $3.5 million.

The Club’s net profit was $2.75 million, with its net asset position improving from $13.3 million to $16.05 million year on year.

“We continue to make solid progress in line with the targets we have set ourselves as a Club,” said Richmond president Gary March.

“We recorded an operating profit and reduced our debt by $1 million. We have made provision for the redevelopment of Punt Road Oval - a critical investment in football - heavily increased football department expenditure, and delivered a record membership on the back of the most loyal supporter base in the game.

The $1 million in reduction in debt was that paif from the FTF or did the club make the profit to pay it ?

 

[Martin#4]

If im not mistaken, paying off of debt doesn't affect the net profit of a business, it reduces the liabilities of the company and it's cash position, reducing outstanding debt doesn't affect expenses at all (therefore isn't in the P&L statement).

The only indirect link paying debt off would have on net profit would be lower interest payments (which are an expense)

PS can any qualified accountants out there verify this? lol

 

[KiwiTiger]

If im not mistaken, paying off of debt doesn't affect the net profit of a business, it reduces the liabilities of the company and it's cash position, reducing outstanding debt doesn't affect expenses at all (therefore isn't in the P&L statement).

The only indirect link paying debt off would have on net profit would be lower interest payments (which are an expense)

PS can any qualified accountants out there verify this? lol

I will step in, as a Fellow (chief cardigan wearer) of the Institute of Chartered Accountants in Australia and New Zealand, you're part right. Effectively our result from football operations was $51k profit. Add to that the fundraising (FTF) and gaming, our overall net profit was around the $2.7million mark. Accounting is about double entry. For a reduction in debt (debit to balance sheet liabilities), there's a corresponding credit (revenue - profit and loss) and that's Fundraising Revenue. Bottom line number after everything is a $2.7million profit I believe.

Haere Ra

 

[Tiger Titus]

If im not mistaken, paying off of debt doesn't affect the net profit of a business, it reduces the liabilities of the company and it's cash position, reducing outstanding debt doesn't affect expenses at all (therefore isn't in the P&L statement).

The only indirect link paying debt off would have on net profit would be lower interest payments (which are an expense)

PS can any qualified accountants out there verify this? lol

This is correct.

The P&L Statement just contains Income and Expenses. Assets & Liabilities are recorded on the Balance Sheet.

Considering the clubs net assets increased by approximately $2.7 million the total profit (as distinct from the operating profit) may have been significantly higher than $51,000 (depending on movement in the club's equity via revaluation reserves etc).

 

[NQTIGER]

Profit

Hmmmmm 1 mill off the debt , 51K profit

http://www.heraldsun.com.au/sport/afl/tigers-operating-in-the-black/story-e6frf9jf-1226203883217


What happened to the other 2.5 mill?

 

[Equus]

Re: Profit

Scientific experiments creating a super sperm that has the DNA mix of Dusty, Richo and Cotch & Lids. Costing a mint apparently.