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The Official Aid Package (merged thread)

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AFL aids Blues

Joffa, JD, THe Fireman and Itsintheblood must be out for lunch? :confused:

Anyway. Some Carlton news

AFL aids Blues
3:29:55 PM Wed 19 July, 2006
Angus Morgan
Sportal for afl.com.au

The AFL has announced a $2million financial and management assistance packet designed to help Carlton out of its precarious financial position.

The package, which was approved by the AFL Commission earlier this week, includes the provision of a $1.5m interest-free loan as well as a $500,000 grant from the Annual Special Distribution funding.
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Read Article
 
Re: The Official Aid Package

Good to see Mike Fitzpatrick become a neutral observer. This will suit Carlton people , it might rankle the non-Carlton people about his ''neutrality'' but I think he has been away from the club long enough to be seen as independent
 
Re: The Official Aid Package

PerthCrow said:
Good to see Mike Fitzpatrick become a neutral observer. This will suit Carlton people , it might rankle the non-Carlton people about his ''neutrality'' but I think he has been away from the club long enough to be seen as independent
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he's a highly respected professional. a rhodes scholar apparently.

like you said, i don't think there's an issue there.
 

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Re: The Official Aid Package

The AFL rake in a lot of money. That money is generated by 16 clubs, not by 3 or 4. I think spending some of that money to aid the clubs that need it most is a good idea - as long as a genuine attept at fiscal responsibility is expected by the AFL!
It would seem on the surface that the $2 million package is a small price to pay to help the Blues resolve a bad situation. A healthy competative league is a good thing every club in the AFL!
 
Re: The Official Aid Package

Realistically the AFL are not giving us money, they are loaning it...albeit interest free!

1.5million is the interest free loan and 500K is for maintaining Princess Park which is not generating revenue for us since the AFL pretty much wanted us out of there, but is still a training facility and used for VFL.

I think the AFL should of taken a step further and interest free loaned us the remainder of the 7million and given us say till 2011 to pay it back. 780million + not including the other 50+ million from radio rights etc etc I'm sure they have money to 'lend'.

Imagine during the next Broadcast rights if Carlton, Collingwood, Essendon, Hawthorn, Tigers are all in good positions to win a flag how much extra money the AFL could get.

Even having Carlton back up the ladder would bring in larger attendances to classic games that have lacked people the last few years.

Thankyou AFL for your help, but a 7 million interest free loan would of helped a little more.
 
Re: The Official Aid Package

I'm not sure how, but it said Blues have reduced debt from 12 to 7 mill in a few years?? Seems they still have some major cash making abilities. Good result for everyone. With the young list they have and with the draft a bumper next year, blues (as well as mighty resurgent Bombers) will be rocking and rollin in no time!
 
Re: The Official Aid Package

jj1978 said:
Realistically the AFL are not giving us money, they are loaning it...albeit interest free!
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actually, they are giving it to you.

regardless of the fact it is a loan, beacuse it is interest free means it is costing the AFL because they are not gaining the interest on that money that they would have gained had they kept it in the bank.
 
Re: The Official Aid Package

jj1978 said:
Realistically the AFL are not giving us money, they are loaning it...albeit interest free!
Click to expand...

I think thats the best outcome TBH, never wanted to Bluebaggers to fold but I didnt want the AFL to go and hand over a few Millions dollars for nothing when teams like Melbourne,Bulldogs and Kangaroos have strict guidelines to obtain additional help.

So basically Carlton have increase their debt to 8.5 million now with 1.5 million of it interest free .... alot of hard work to be down down Carlton way.

Does this also mean that the AFL now truely owns the Carlton Football Club?
 
Re: The Official Aid Package

I never knew we took that we had wiped 5 million of our debt, from 12 mil, to 7. That's good news, but the work is still ahead of us. We are in our 4 year of our 5 year sentence, so hopefully, things can really start to pick up on and off the field.

I'm interested in seeing the replies and opinions from St.Kilda and Sydney supporters.
 
Re: The Official Aid Package

DG-Man said:
Good result for everyone. With the young list they have and with the draft a bumper next year, blues (as well as mighty resurgent Bombers) will be rocking and rollin in no time!
Click to expand...
This is exactly what the AFL is aiming for ..a resurgent Carlton , Essendon , Richmond, Hawthorn to become competitive once again along with Collingwood...the drawing power of these teams means the competition will be all the more stronger . you gotta spend money to make money
 
Re: AFL aids Blues

Coyote said:
This is a disgrace!!

They got themselves in this hole let em get themselves out of it, go sell some games like other clubs have to do.
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They tried to sell a game to West Coast at subi but AD wouldn't let them. Probably fair enough though.
 

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Re: AFL aids Blues

http://afl.com.au/default.asp?pg=news&spg=display&articleid=282194

Some key points from AFL statement . . .

As part of the AFL-approved financial package:

- Carlton will be provided with $1.5m immediately as part of an interest-free loan which will be required to be paid back by October 31, 2008.

- A $500,000 grant to pay for the maintenance of MC Labour Park which is used as an AFL training venue and also by the AFL umpires, the TAC Cup competition and the under-18s championships.

- AFL Commissioner Mike Fitzpatrick will be an independent observer at Carlton board meetings

- Provision of specialist AFL-appointed external resources to work with the Carlton administration to develop an effective turnaround strategy.

- Preparation of a detailed annual Business Plan which clearly shows how the Club will improve its financial position

- Preparation of a budget showing significant financial improvement over the previous year.

- Provision of monthly financial statements to the AFL and a monthly meeting with AFL executives to ensure the budget and business plans are being achieved.

- Working with the AFL and other relevant parties to determine the best use of the MC Labour Park facility for the AFL industry.
 

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Re: The Official Aid Package

Corrosion said:
Because you guys love to kick the boots into us. In other words, an obsession. :thumbsu:
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Maybe you'd like to fuel that obsession and explain to me how a club that has returned either losses or small profits has reduced debt by $5M.

Interesting.
 

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The Official Aid Package (merged thread)

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