Rumour The St Kilda debt situation - no more tick

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StCicatriz

Brownlow Medallist
Aug 3, 2016
26,244
55,062
AFL Club
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lie?

North have no debt bearing liabilities, they have outstanding liabilities in terms of standard operations and contracts, but no loans. The remaining liabilities arent generally considered "debt" as people refer to it here.

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In contrast, for the saints

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They sure as s**t are debt. You owe that money one way or another.

Now do the members equity and assets for both clubs
 

The_Wookie

Queenslander
Jul 2, 2010
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They sure as sh*t are debt. You owe that money one way or another.

Now do the members equity and assets for both clubs

Sure its debt, but its not the debt that everyone is talking, nor is it the debt that the Saints are talking about - and Im absolutely certain that you know this - so quit being obtuse.
 

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dave10

Premiership Player
Apr 26, 2004
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The key is not simply finding new supporters. It's converting your existing supporters into members/attendees. St. Kilda had 55k members last year (even given there were probably a lot of freebies in there) but only averaged 25k per home game in 2019 (last unaffected year). They have the support they just need them to attend. The difference between the small and big Melbourne club's in attendances isn't that massive when you consider other issues like fixturing, onfield performance etc. Essendon had 92k+ against Collingwood on Anzac Day in 2019 where we're all those supporters when they got 25k+ against GWS later that year? Assuming a 50/50 split of Anzac Day that's half the attendees who went to the game against Collingwood.
That 25,000 Vs GWS was a Thursday night game in July with Essendon at the time on the end of a run of poor form and low morale. A week later Essendon drew 60,199 at home at the MCG against the Swans on a Saturday afternoon.

ANZAC Day is also early in the year and usually team fortunes are better early on.
 

StCicatriz

Brownlow Medallist
Aug 3, 2016
26,244
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Sure its debt, but its not the debt that everyone is talking, nor is it the debt that the Saints are talking about - and Im absolutely certain that you know this - so quit being obtuse.
Debts debt!!!

Thats why the members equity number is important.

And its why they list all your liabities in a financial statement not just loans.
 

The_Wookie

Queenslander
Jul 2, 2010
35,666
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Debts debt!!!

Thats why the members equity number is important.

And its why they list all your liabities in a financial statement not just loans.

Theres good debt and theres bad debt - no one is talking about operating liabilities and you know it.

members equity number is important, especially to people who want to run down North in defence of their own clubs shortcomings.

Remember: Despite your attempts to murky the waters this thread isnt about North but the Saints.
 

StCicatriz

Brownlow Medallist
Aug 3, 2016
26,244
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Theres good debt and theres bad debt - no one is talking about operating liabilities and you know it.

members equity number is important, especially to people who want to run down North in defence of their own clubs shortcomings.

Remember: Despite your attempts to murky the waters this thread isnt about North but the Saints.
Say you have a mortgage and you have 10m to pay off... it sounds bad right? But what if you're assets are 50m in value. Not so bad anymore right.
 

The_Wookie

Queenslander
Jul 2, 2010
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Say you have a mortgage and you have 10m to pay off... it sounds bad right? But what if you're assets are 50m in value. Not so bad anymore right.

Not if they arent your assets to dispose of, Saints couldnt use them to pay debts off. RSEA Park is a council asset with a new lease that was signed for 50 years in 2016 (despite Wikipedia stating the Saints own it)

This is true of almost every AFL club that still uses a council or state owned ground, but still shows the stands and offices as assets.
 

StCicatriz

Brownlow Medallist
Aug 3, 2016
26,244
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Not if they arent your assets to dispose of, Saints couldnt use them to pay debts off. RSEA Park is a council asset with a new lease that was signed for 50 years in 2016 (despite Wikipedia stating the Saints own it)

This is true of almost every AFL club that still uses a council or state owned ground, but still shows the stands and offices as assets.
Are you sure about that. The annual report has 29m in assets. Unless you are suggesting st kilda and the independent auditor are in breach of the law and therefore their licence?
 

The_Wookie

Queenslander
Jul 2, 2010
35,666
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Are you sure about that. The annual report has 29m in assets. Unless you are suggesting st kilda and the independent auditor are in breach of the law and therefore their licence?

No im suggesting its standard practice, and therefore probably legal - as I said every club does this with plant and facilities they dont technically own, and theres no issue with that.
 

StCicatriz

Brownlow Medallist
Aug 3, 2016
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No im suggesting its standard practice, and therefore probably legal - as I said every club does this with plant and facilities they dont technically own, and theres no issue with that.
No that's the right of use assets they are listed separately.

St kilda own parts of moorabbin hence the itemisation under plant and equipment which is separate to the right of use assets which are owned by the local council.
 

Lampers

Club Legend
May 27, 2004
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No that's the right of use assets they are listed separately.

St kilda own parts of moorabbin hence the itemisation under plant and equipment which is separate to the right of use assets which are owned by the local council.

TLDR Most of St.Kilda’s assets aren’t really assets in the way people would normally think of them.




How would St.Kilda would go about selling and realising the value for those parts of Moorabbin they own? It’s lease hold improvements (e.g. office and gym fit outs) and I can’t imagine that location being attractive to any alternate parties.

Then there’s the question of whether the council would even allow St.Kilda to try to sell those improvements as it’s in council’s land.

So while it may be an impressive asset on the surface in its book value, it doesn’t seem to be one that generates significant revenues or can be sold. They are basically paying for operating expenses up front and capitalising it, and amortising over many years which is a valid accounting practice, but it’s not like purchasing a piece of machinery or property that you can then sell to someone else later.

I can also see much of the asset gain through 2021 was financed through grants and I’m guessing it’s the Danny Frawley centre. Grant funding is good as it didn’t require additional debt, but there will be plenty of conditions on those grants (like not selling what the grant was used for).
 

StCicatriz

Brownlow Medallist
Aug 3, 2016
26,244
55,062
AFL Club
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TLDR Most of St.Kilda’s assets aren’t really assets in the way people would normally think of them.




How would St.Kilda would go about selling and realising the value for those parts of Moorabbin they own? It’s lease hold improvements (e.g. office and gym fit outs) and I can’t imagine that location being attractive to any alternate parties.

Then there’s the question of whether the council would even allow St.Kilda to try to sell those improvements as it’s in council’s land.

So while it may be an impressive asset on the surface in its book value, it doesn’t seem to be one that generates significant revenues or can be sold. They are basically paying for operating expenses up front and capitalising it, and amortising over many years which is a valid accounting practice, but it’s not like purchasing a piece of machinery or property that you can then sell to someone else later.

I can also see much of the asset gain through 2021 was financed through grants and I’m guessing it’s the Danny Frawley centre. Grant funding is good as it didn’t require additional debt, but there will be plenty of conditions on those grants (like not selling what the grant was used for).
Thats a fair point! But it's still an asset. So if st kilda are in a horrendous position then north must he in serious strife. Given the gap in revenue, membership and assets.
 

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Mat Mann

significantly pleased himself
May 14, 2009
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well it'd be great if a mod actually shut this shitshow, I mean there are another 3 threads on the mainboard to slag off StKilda, fat chance of that happening tho, bay 13 trash thread
 

Mat Mann

significantly pleased himself
May 14, 2009
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and point proved, 13months this rumor or scandal trash has been trolled to death, but because it's StKilda it rolls on and on and on
 

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