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

[sideswipe]

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.

Not sure the OP was suggesting re-hires, but rather re-imagining us back to our 1930 “powerhouse” phase by throwing dough at a few extra coaches?


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[jackcass]

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...

The tax went to 75% in it's 2nd iteration, may even be more now.

 

[Scodog10]

Not sure the OP was suggesting re-hires, but rather re-imagining us back to our 1930 “powerhouse” phase by throwing dough at a few extra coaches?


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No absolutely not I assume, but I’m personally not interested in the content of the OP or their follow up posts. I’m more interested in your take because the topic interests me. I’m assuming you posted on the basis of the OP though so I think I’ve got my answer.

 

[sideswipe]

No absolutely not I assume, but I’m personally not interested in the content of the OP or their follow up posts. I’m more interested in your take because the topic interests me. I’m assuming you posted on the basis of the OP though so I think I’ve got my answer.

My take is that it one of the many unknowables for the likes of us. More coaches are likely to provide better support to the players, but how can we make a call that breaching the FD cap is “worth it”?


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[jackcass]

My take is that it one of the many unknowables for the likes of us. More coaches are likely to provide better support to the players, but how can we make a call that breaching the FD cap is “worth it”?


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I'm thinking they'd know the FD spend for 2022 as locked in now. If there's any residual capacity I'm sure they'll look to see how to best utilise it. Whether that is additional full or part time coaching staff, or paying someone for a specialist coaching block of 5-6 weeks, time will tell. I don't see them exceeding the cap anytime soon though.

Personally, I'd like to see the club get a bit more creative with the coaching panel we have across our AFL, VFL, AFLW and VFLW squads. Share the load for some of the specialist coaching staff. Our involvement in these other areas should enhance the senior team.

 

[Scodog10]

My take is that it one of the many unknowables for the likes of us. More coaches are likely to provide better support to the players, but how can we make a call that breaching the FD cap is “worth it”?


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I may disagree with the content of the OP, but from my perspective it opens up discussion. This not so much because it could be applied to all rather than many discussion points. I appreciate you taking the time to provide your take though!

 

[Linda_Lovelace]

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...

Last time I checked we were not in the business to make profits. Costs have come down, last years accounts include he redundancies re reduction in head count right across the club. If we spent $300k extra, paid $150k tax, then it would take nearly 20 years to chew through the cash and investments. And that is assuming we never recover ie COVID forever.

As for your comments on cash, think about when revenue is received, its not during the off season is it? Clubs always run down cash at this time of year and it replenishes as the season begins. Maybe not this year, who knows but there are a lot of clubs in far worse shape than the Pies and if we can get an unfair edge by using the cash then I am all for it. A ruck coach and a development coach(s) to assist and fast track the kids would be great. And one of the benefits of the COVID world is there are plenty of good people out of work due to mandatory cuts so you get them cheap.

Win a flag as a result and that will see the coffers swell.

 

[Linda_Lovelace]

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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Lol, who cares. Its a bout flags, not how you look. Hawks pilfered players from other clubs to flag, do you think they cared that people cried fowl, its not fair that guys like Frawley and co went chasing a flag?

 

[Linda_Lovelace]

From the 2020 annual report.

View attachment 1042753

View attachment 1042751

EDIT: What you posted later....

Yep, most people here can't read a balance sheet or cash flow statement and focus on the P&L which has non cash items flowing through it to do with depreciation and have no concept that the loss is artificial in nature as we are a not for profit organisation.

 

[jmac70]

Yep, most people here can't read a balance sheet or cash flow statement and focus on the P&L which has non cash items flowing through it to do with depreciation and have no concept that the loss is artificial in nature as we are a not for profit organisation.

That’s because it’s really boring.

 

[Linda_Lovelace]

That’s because it’s really boring.

Bit its really important.

 

[Carringbush2010]

Bit its really important.

I bit it is!

 

[Carringbush2010]

Most definitely bump time!

 

[jackcass]

Why? It's the same bullshit you go on about ad nauseum in every other thread.

 

[Civilest]

I bit it is!

Isspishally in Noo Zillund