St Kilda - time to get your house in order

[00Stinger]

http://www.afl.com.au/news/2018-03-08/saints-must-get-back-to-black-mclachlan

St Kilda's unsuccessful move from Moorabbin to bayside Seaford, near Frankston, lasted less than a decade.

The Saints, Brisbane and Port Adelaide are the three clubs carrying the heaviest debt.

AFL chief executive Gillon McLachlan said St Kilda's bad debt runs at more than $10million.

"St Kilda have dealt with a whole series of challenges, but it's incumbent on them now to get their P and L (profit and loss) working," McLachlan said.

"They have to get their business to work now."

More than $10m in debt and have had some big hands out from the AFL over recent times. Seems that Gill is running out of patience with St Kilda and their excuses.

Be interesting to see if they can turn it around on and off field

 

[Unique Name]

Seems a bit unfair the public call out on St Kilda. Wonder if they've had some differences behind the scenes.

 

[Jaeger]

Didn't the AFL recently give them $20m?

 

[sprockets]

Ship em off to Tassie I say!

That sounds like the plan considering, "They have to get their business to work now".

 

[Ricmel]

Seems a bit unfair the public call out on St Kilda. Wonder if they've had some differences behind the scenes.

I don't think he was calling them out in a bad way. There was widespread understanding that Saints original Etihad deal was punitive and that the move to Frankston was crippling commercially (Archie Fraser should hang his head in shame over what was effectively an ego driven decisiom).

I think all he is saying is that there are no excuses now, they have the foundation now to turn around their financials.

 

[boncer34]

It would also help our profit and loss if we weren't screwed on the Etihad deal where it's almost impossible to make a decent profit on home games.

We manage just fine.

 

[Quivorir]

It would also help our profit and loss if we weren't screwed on the Etihad deal where it's almost impossible to make a decent profit on home games.

Stop using that excuse. The AFL fixed that deal years ago.

 

[hoianbulldog]

Similar position to dogs a few years back. It can be turned around.

St Kilda have made 2 really bad decisions in the last decade or so.

1. Leaving Tassie.
2. Moving base to seaford.

Both have cost them.

 

[chiwigi]

Stop using that excuse. The AFL fixed that deal years ago.

How long do you think it takes to come back from years of losses caused by such a deal? Probably twice as long as the deal was in place in order to pay back the principal plus interest (unless in the very unlikely event the loss figure was doubled up into an equal profit).

 

[00Stinger]

So many fans have very short memories or are ignorant of the leg ups their clubs receive.

lol. If you read the OP you will see it wasn't an opinion piece by a fan.

It was direct quotes from the AFL CEO

 

[Quivorir]

How long do you think it takes to come back from years of losses caused by such a deal? Probably twice as long as the deal was in place in order to pay back the principal plus interest (unless in the very unlikely event the loss figure was doubled up into an equal profit).

The way I interpreted his post was he was saying that the s**t deal was still in place, which is untrue.

 

[The 747]

We manage just fine.

IIRC you have a better deal than the other clubs?

 

[Shazza_]

But didnt Finnis say they have the same amount of supporters as Richmond ? Surely a Fighting Tiger Fund style debt demolition thing would rid them of their debt like we did ours then ?

if they have so many supporters how about they open their wallets and erase their debt like the Tigers did

 

[Sttew]

Why does Port Power have so much debt?

 

[TedDougChris]

The way I interpreted his post was he was saying that the s**t deal was still in place, which is untrue.

From memory the deal was adjusted/improved a few years ago, but still not great. I will look for some quotes/data to support this if I can....

 

[chiwigi]

Why does Port Power have so much debt?

Propping up SA football for a 150 years has that effect.
If you think the stadium deal at Etihad was bad, the deal at AAMI was criminal.

The debt was run up when the club were SANFL owned and drained by, an equally valid question (that will give the same answer) would be why aren't the Crows filthy rich?

Both clubs have recently bought their way out of the SANFL (at a great cost considering the money both clubs had already contributed), but they still have their mucky fingers in the Adelaide Oval pie via the SMA (seriously the SANFL get a huge chunk of Adelaide Oval cash...for doing squat).

TLDR: SANFL

This is a good starting point:
https://www.bigfooty.com/forum/thre...the-sa-footy-paradigm-shift-happening.554729/

 

[Lavender Bushranger]

But didnt Finnis say they have the same amount of supporters as Richmond ? Surely a Fighting Tiger Fund style debt demolition thing would rid them of their debt like we did ours then ?

if they have so many supporters how about they open their wallets and erase their debt like the Tigers did

What incentive is there for clubs to have no debt and heaps of dough?

Aside of course, from the people in the industry keeping their well paid jobs.

Why on earth do supporters care?

The AFL give all clubs massive 'handouts' which results in an 18 team comp that is played all over the country every weekend.
These 'handouts' are returned with significant interest when the AFL charge the TV companies $2.5b to televise their product.

 

[Plugger35]

We manage just fine.

You secured a much better deal at Etihad than us and the other Etihad tenant clubs.

Stop using that excuse. The AFL fixed that deal years ago.

The AFL only bought Etihad after the 2016 season so that shitty deal was in place until then and even now we don't have a deal as good as most other clubs.

 

[Bunk Moreland]

Very strange calling them out publicly. Would indicate relations between club and city hall not fantastic.

I preferred it when we were the problem child.

 

[Scotland]

Has the club spent much money on the move to Seaford then back to Moorabbin thing?

 

[largebus]

Simple solution, buy some more pokies

 

[Channels]

Will they blame Ross for this as well?

 

[Quivorir]

The AFL only bought Etihad after the 2016 season so that shitty deal was in place until then and even now we don't have a deal as good as most other clubs.

The AFL stepped in a few years ago before the purchase of etihad and changed that deal.

 

[Ned_Flanders]

This is rich coming from a Melbourne supporter, the AFL had to virtually take over your club by appointing a CEO and a coach to stop you being a basketcase.

It would also help our profit and loss if we weren't screwed on the Etihad deal where it's almost impossible to make a decent profit on home games.

I thought seaford was funded by the city of frankston, so isnt it their financial disaster ?

 

[Ned_Flanders]

Yet they aren't in $10m of debt.

From the Industry Board

Assets

• West Coast - $77,717,497
• Hawthorn - $66,430,723
• Collingwood - $48,713,041
• Essendon - $45,362,544
• Geelong - $38,218,519
• Western Bulldogs - $37,690,400
• Richmond - $37,332,992
• Fremantle - $28,315,590
• Carlton - $26,206,220
• St Kilda - $22,121,016
• Melbourne - $18,012,858
• Gold Coast - $10,163,916
• Brisbane - $9,299,059

Liabilities

• Geelong - $28,627,386
• Brisbane - $22,432,913
• Hawthorn - $19,898,341
• St Kilda - $17,488,177
• Carlton - $17,398,022
• Collingwood - $16,134,623
• Fremantle - $13,975,438
• Essendon - $12,854,759
• Melbourne - $11,810,162
• Gold Coast - $11,746,131
• West Coast - $11,597,832
• Richmond - $10,178,623
• Western Bulldogs - $9,980,201

Equity

• West Coast - $66,119,665
• Hawthorn - $46,532,382
• Collingwood - $32,578,418
• Essendon - $32,507,785
• Western Bulldogs - $27,710,199
• Richmond - $27,154,369
• Fremantle - $14,975,438
• Geelong - $9,591,133
• Carlton - $8,808,198
• Melbourne - $6,202,696
• St Kilda - $4,632,839
• Gold Coast - ($1,582,215)
• Brisbane - ($13,133,854)