Roast Time To Earn Your Stripes/Profile And Stop Penny Pinching

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jmac70

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jmac get past the present son.

It's about the attitude the club needs to take going forward.

This club has been soft, soft, soft for too many years. Taking it whenever the AFL says FCK. Time to stop being fresh pussie every time the AFL gets a hardon for some new money making scheme. We've been their cash cow ever since the glory days in the '30's.

FCK the AFL, time to start looking after this club FIRST.

Ohhh the poor widdle Demons are cash strapped, let's pay them all the gate reciepts and help them out. FCK that! Let them beg for it from the AFL.

Ohhhh the AFL needs a big drawcard for a new franchise team... FCK that! Every Collingwood fan boycotts the game AND the telecast.

Ohhh the AFL needs to stop Collingwood threatening to take a flag and so brings in a new rule and instructs the maggots to umpire us out of games. FCK that too! Open up the coffers and pay some film making members to tape the entire game - every game - and take the FCKIN AFL to court for restraint of trade.

The game has been taken away from the fans with bullshit rules and a bullshit enforced 'premiership cycle'.

Collingwood FIRST, get our house in order and start making our own history instead of dancing to the AFL media music.

Here endeth the rant.
I’m certainly encouraged by the appointment of Wright. I doubt we will exceed the footy department cap though, especially given the salary cap fiasco.
With Wright in charge I think we will start to see some good decisions going forward and improvement within the team. Hopefully we will also see some astute pick ups in the next trade period.
 

jonmacTrag

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Reads like a Trump speech, but I don't disagree.
I'm hearing you MJ and sorry for the flashback but it's just so true. I have great respect for the job Eddie has done but when it comes to the AFL, despite the bluster he's a soft cck and rolls over every time.

We need to start playing hardball.
 

jonmacTrag

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I’m certainly encouraged by the appointment of Wright. I doubt we will exceed the footy department cap though, especially given the salary cap fiasco.
With Wright in charge I think we will start to see some good decisions going forward and improvement within the team. Hopefully we will also see some astute pick ups in the next trade period.
Not saying it will happen overnight jmac it just needs to happen though.

This club was the terror of the VFL in the '30's - that was a time defined by hard and brutal play and players - and we were the hardest and most brutal of all.

That attitude of 'we won't take any sh*te from anyone' needs to be the club's creedo.

Bring the finances and playin list under control, get the administration house in order and start running our club for ourselves instead of being a FCKIN AFL benefit society.
 
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Scodog10

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Last time I looked the club was sitting on about $10m in surplus cash, so with that loss its down to $8m. Plenty to spend.
Try $6m inflated by a COVID cash injection of $1m (approx figures). A repeat of 2020, crowd and member wise, would see us requiring further stimulus or accessing the overdraft facility we no doubt have in place. That is unless we liquidate assets. Bottom line we‘ll be bare bones in 2021 and probably 2022 unless we either bounce back or replace Buckley with an untried coach.
 

Carringbush2010

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Well a limited type of rebuild seems to be going on and we are becoming aware of shortcomings in administration that really should be addressed.

Information coming to light revealing that the training surface has had a lot of money spent on it and is now much softer underfoot should be well received but WTF did it take so long to move on what was an obvious poor surface in the first place? And why persistently deny it was a poor surface??

Time to stop bitching about having to pay the AFL tax and get on with providing the coaching staff the players need to achieve the ultimate. Even if we have to eke the money out of somewhere else the monetary pain surely must be worth it to have a decent, well rounded coaching and support staff to help the players achieve to their potential.

A decent ruck coach please for god's sake and in heavens name make him full time and while we are talking coaches how about a goal kicking coach worth his salary?
This is not your usual tone Jonmac! I do like it however.
 

Carringbush2010

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Here's a similar thread:

 

jmac70

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Linda_Lovelace

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Try $6m inflated by a COVID cash injection of $1m (approx figures). A repeat of 2020, crowd and member wise, would see us requiring further stimulus or accessing the overdraft facility we no doubt have in place. That is unless we liquidate assets. Bottom line we‘ll be bare bones in 2021 and probably 2022 unless we either bounce back or replace Buckley with an untried coach.
You are not correct, we had $8m in cash plus the following financial assets as per note 7 to the accounts:https://resources.collingwoodfc.com...4718-83cc-813a46cf6adc/2020-ANNUAL-REPORT.pdf

Financial Assets

Current

Fixed interest securities 1,000,000
Total - 1,000,000 -

Non Current
Global equities 2,528,867 1,062,244
Hybrids 3,954,791 4,030,150
Fixed interest securities 3,944,739 3,327,972
Property/Alternatives 4,893,804 3,240,007
Other Investments 200,000 -

Total

15,522,201 11,660,37 (so $15.5m in addition to cash). A lot of this was generated by the sale of the pokies.

So the club is in rude health, most of those assets listed above can be turned to cash in 3 business days. Worth noting also that the 'loss' was caused by depreciation and amortisation which is a non cash item.
 

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Linda_Lovelace

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Try $6m inflated by a COVID cash injection of $1m (approx figures). A repeat of 2020, crowd and member wise, would see us requiring further stimulus or accessing the overdraft facility we no doubt have in place. That is unless we liquidate assets. Bottom line we‘ll be bare bones in 2021 and probably 2022 unless we either bounce back or replace Buckley with an untried coach.
Refer my response to another poster, plenty of assets to pay the tax if we want to.
 

barrackers

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If we were going to exceed the footy department cap we wouldn’t have made several redundancies to get under the reduced cap owing to covid. With 2021 still carrying a risk of border closures etc I can’t see the club now changing that position.

It’s a matter of spending what’s available more wisely.

Edit: Carroll is an example of what we should be doing; targeting those forced out of other clubs by the reduced cap and looking for an opportunity.
 
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Linda_Lovelace

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If we were going to exceed the footy department cap we wouldn’t have made several redundancies to get under the reduced cap owing to covid. With 2021 still carrying a risk of border closures etc I can’t see the club now changing that position.

It’s a matter of spending what’s available more wisely.
Got over $20m in cash and liquid investments.
 

barrackers

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Got over $20m in cash and liquid investments.
If it helps win a flag no issue, but if the recent player exits are any indication the club seemingly thinks we’re further away than 19/20. If we didn’t load up on our footy department when we were looking to keep the list together via irresponsible contract backending why would we do so now?
 

Scodog10

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You are not correct, we had $8m in cash plus the following financial assets as per note 7 to the accounts:https://resources.collingwoodfc.com...4718-83cc-813a46cf6adc/2020-ANNUAL-REPORT.pdf

Financial Assets

Current

Fixed interest securities 1,000,000
Total - 1,000,000 -

Non Current
Global equities 2,528,867 1,062,244
Hybrids 3,954,791 4,030,150
Fixed interest securities 3,944,739 3,327,972
Property/Alternatives 4,893,804 3,240,007
Other Investments 200,000 -

Total

15,522,201 11,660,37 (so $15.5m in addition to cash). A lot of this was generated by the sale of the pokies.

So the club is in rude health, most of those assets listed above can be turned to cash in 3 business days. Worth noting also that the 'loss' was caused by depreciation and amortisation which is a non cash item.
Key word being had. We now have $6.4m cash at bank. The players are paid monthly and I assume the rest of the FD is too. Given the individual caps that means we have a minimum monthly salary spend of $2m so we have just three months club salaries sitting in the bank. That neglects all other overheads. We aren’t in a position to do it regardless of how you try to spin the figures to me.

Nor should we either. Luxury taxes are for clubs that are competing and we aren’t so a penny pinching strategy for the time being until finances are more robust needs to be the course of action.

One final point operating losses and profits have nothing to do with our ability to pay a FD tax. It’s cash at bank that matters and we’re tight.

Edit: a final point. Liquidating assets in order to overspend when we aren’t competing then paying a 50¢ on the dollar tax on that is the second most fiscally irresponsible strategy I’ve come across in my career. The other being a similar approach by my employer...
 

jonmacTrag

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Getting sidetracked here - it's not the cash it's the attitude that is the basis of the problem.

Those that say we can't improve our specialist coaching positions because of cash flow immediately are most likely right but that is beside the point I am trying to make.

There is an attitude that says 'we won't pay the tax and we will short change the players and supporters that deserve a full coaching panel to avoid paying the tax.

THAT is the problem.

Nothing wrong with fiscal responsibility but NOT when it impacts the ability of the playing group to reach their true potential and deliver expected results.

Also NOT when it impacts the quality and safety of the training facilities and denying their is anything wrong with the training surface.
 

Scodog10

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The idea of spending up not long after we had to let go of a bunch of staff is nucking futs. Leaving aside anything else, it would be a terrible look in the current environment.


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I clearly agree with you, but if we had the resources to do it (which we don’t) and they were re-hires (Rendell and Hocking being the two most obvious) I don’t think there’d be too many that would an issue with the look of it.
 

jackcass

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Oct 8, 2007
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Mate, we have to house the homeless, fund loss makers like woman's footy and netball and god knows what other non core programs.

We ceased being a footy club some time ago, IMO its time to get back to basics.
None of which impinges our FD spend or restricts us from spending over the FD tax if we were so inclined.
 

jackcass

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We just announced a loss of $1.8 million. There is no way we will up spending and pay the tax.
"The Collingwood Football Club has announced an operating profit before depreciation and amortisation of $1,028,336 for the financial year ending October 31, 2020, with the final declared statutory result being a net loss of $1,807,130"

 
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