SANFL Club Finances

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Re: SANFL Club Finances

Postby Dogwatcher » Thu Jan 29, 2015 11:04 am

It's very good news. This comp needs a strong Sturt.
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Re: SANFL Club Finances

Postby robranisgod » Thu Jan 29, 2015 1:57 pm

Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.
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Re: SANFL Club Finances

Postby knowledge » Thu Jan 29, 2015 3:34 pm

robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.



Ummm. No! Categorically, and, irrefutably, incorrect. The result is entirely due to putting one's nose to the grindstone, cutting costs, a lot of extremely hard work and sound management. There is no white knight. Take it from me.
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Re: SANFL Club Finances

Postby o five » Thu Jan 29, 2015 4:10 pm

robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.


As far as I know we were not bailed out by this particular supporter, he was simply a guarantor for the loan we took out.
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Re: SANFL Club Finances

Postby robranisgod » Thu Jan 29, 2015 4:23 pm

o five wrote:
robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.


As far as I know we were not bailed out by this particular supporter, he was simply a guarantor for the loan we took out.

Depends who you talk to at the club, some say that he was simply a guarantor others say that he also pitched in money. I have never been an official and only know a couple so who knows?
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Re: SANFL Club Finances

Postby Bounce of the ball » Thu Jan 29, 2015 6:10 pm

Knowledge does.
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Re: SANFL Club Finances

Postby saintal » Fri Jan 30, 2015 9:44 am

Encouraging news for Sturt. Good to see that BarZaar finally turned a profit.
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Re: SANFL Club Finances

Postby Dutchy » Fri Jan 30, 2015 2:18 pm

knowledge wrote:
robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.



Ummm. No! Categorically, and, irrefutably, incorrect. The result is entirely due to putting one's nose to the grindstone, cutting costs, a lot of extremely hard work and sound management. There is no white knight. Take it from me.


Also shows how the previous admin must have stank. Good work on the turnaround, SANFL will be relieved seeing they guarantee their bank debt.
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Re: SANFL Club Finances

Postby Ronnie » Fri Jan 30, 2015 2:58 pm

Stories persist about white knights and football clubs, fascinating as they are, many would be fiction. Some must be true.

But I remember reading a football book, where it was stated that an elderly gent, literally turned up on Sturt's doorstep, with a serious amount of money, back in the dark days of 1995, when extinction was almost assured. The near defeated GM had no idea it was coming, and had to work to gain the trust of the benefactor. Part of folklore or not, it makes you wonder a bit.
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Re: SANFL Club Finances

Postby Fricky » Fri Jan 30, 2015 3:54 pm

Ronnie wrote:Stories persist about white knights and football clubs, fascinating as they are, many would be fiction. Some must be true.

But I remember reading a football book, where it was stated that an elderly gent, literally turned up on Sturt's doorstep, with a serious amount of money, back in the dark days of 1995, when extinction was almost assured. The near defeated GM had no idea it was coming, and had to work to gain the trust of the benefactor. Part of folklore or not, it makes you wonder a bit.


I cant remember the guys name, but someone use to bail out Geelong a lot through the 80's and early 90's. Billy Brownless spoke about him on the footy show about how he would just sign cheques to any amount the club needed to pay staff, players, bills etc.
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Re: SANFL Club Finances

Postby dedja » Fri Jan 30, 2015 4:56 pm

Glenelg results are out, $243K loss in 2014 ($98K excluding depreciation) with a projected profit in 2015, this from a $570K loss in 2013. Result is $65K down on budgeted loss of $33K (excluding depreciation). EBITDA result $122K.

Still a long, long way to go, but a significant improvement and the structural changes should provide future sustainability.

AGM is on Feb 10, and the full Annual Report is available on the club's website.
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Re: SANFL Club Finances

Postby Bounce of the ball » Fri Jan 30, 2015 5:39 pm

Dutchy wrote:
knowledge wrote:
robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.



Ummm. No! Categorically, and, irrefutably, incorrect. The result is entirely due to putting one's nose to the grindstone, cutting costs, a lot of extremely hard work and sound management. There is no white knight. Take it from me.


Also shows how the previous admin must have stank. Good work on the turnaround, SANFL will be relieved seeing they guarantee their bank debt.

How do you mean Admin ?
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Re: SANFL Club Finances

Postby Dutchy » Fri Jan 30, 2015 9:00 pm

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Re: SANFL Club Finances

Postby Bounce of the ball » Fri Jan 30, 2015 9:51 pm

The board you mean ?
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Re: SANFL Club Finances

Postby knowledge » Sat Jan 31, 2015 8:13 am

Dutchy wrote:
knowledge wrote:
robranisgod wrote:
Dutchy wrote:“Our improved financial position is due to the hardworking Board, employees and volunteers, committed supporters, and generous sponsors and benefactors.


I was told by a Sturt Official that the turn around in Sturt's fortunes is due to a massive financial injection given to the club by a young multi millionaire who played for Sturt seconds about 20 years ago. Sturt were similarly saved in 1995 when they faced extinction and another past player bailed them out. My team was also bailed out in the early 2000s by a philanthropist supporter and financially we haven't looked back since.



Ummm. No! Categorically, and, irrefutably, incorrect. The result is entirely due to putting one's nose to the grindstone, cutting costs, a lot of extremely hard work and sound management. There is no white knight. Take it from me.


Also shows how the previous admin must have stank. Good work on the turnaround, SANFL will be relieved seeing they guarantee their bank debt.


While it would be easy to draw that conclusion, Duthy, reduction of the SFC's debt commenced under previous administrations. Yes, the current CEO 'team' have built upon the strategies put in place by Matt Benson, and further refined and enhanced them, but, I would be loath to point the stick at Matt for the previous state of financial affairs. That goes much further back than his tenure. The actual Board structure has been fairly static for 15 years at Sturt, so, the majority of the board members have been incumbent for some time. It's not as simple as saying, " the previous administration stunk", because, it's definitely not the case.
Last edited by knowledge on Sat Jan 31, 2015 12:16 pm, edited 4 times in total.
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Re: SANFL Club Finances

Postby knowledge » Sat Jan 31, 2015 8:16 am

Ronnie wrote:Stories persist about white knights and football clubs, fascinating as they are, many would be fiction. Some must be true.

But I remember reading a football book, where it was stated that an elderly gent, literally turned up on Sturt's doorstep, with a serious amount of money, back in the dark days of 1995, when extinction was almost assured. The near defeated GM had no idea it was coming, and had to work to gain the trust of the benefactor. Part of folklore or not, it makes you wonder a bit.


This recollection is true. You're on the money, there, Ronnie! But the most recent story, is just that - a story!
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Re: SANFL Club Finances

Postby Dutchy » Sat Jan 31, 2015 9:03 am

Part of the turnaround has been attributed to heavy cost cutting, why could these costs be found in 2014 but not previous years?

Why are Sturt the only SANFL club with its debt guaranteed by the SANFL? They never assisted any other club when they have asked for this support.
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Re: SANFL Club Finances

Postby knowledge » Sat Jan 31, 2015 10:11 am

Dutchy wrote:Part of the turnaround has been attributed to heavy cost cutting, why could these costs be found in 2014 but not previous years?

Why are Sturt the only SANFL club with its debt guaranteed by the SANFL? They never assisted any other club when they have asked for this support.


I'll get back to you after the AGM ion Monday night on the first part of your post re cost cutting and the turnaround . It would be unfair to do that here right now. In regards to your second point, I don't know. Other than saying that the club's bankers are more than happy with the club's interest and principal payments at present. Which makes the question of the SANFL's guarantee a bit of a non issue - at the moment, of course.
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Re: SANFL Club Finances

Postby Wedgie » Sat Jan 31, 2015 11:15 am

Dutchy wrote:Part of the turnaround has been attributed to heavy cost cutting, why could these costs be found in 2014 but not previous years?

Why are Sturt the only SANFL club with its debt guaranteed by the SANFL? They never assisted any other club when they have asked for this support.

On a completely unrelated matter who did Leigh Whicker play for?
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Re: SANFL Club Finances

Postby knowledge » Sat Jan 31, 2015 11:32 am

Wedgie wrote:
Dutchy wrote:Part of the turnaround has been attributed to heavy cost cutting, why could these costs be found in 2014 but not previous years?

Why are Sturt the only SANFL club with its debt guaranteed by the SANFL? They never assisted any other club when they have asked for this support.

On a completely unrelated matter who did Leigh Whicker play for?


Come on Wedgie.....there's enough conspiracy theories surrounding Essendon/ASADA at the moment. Let's not start anymore,
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