Port Adelaide Magpie$$$$$$$$

[Wedgie]

This is not a post about the salary cap, this is not a post because I'm jealous I just have a genuiune question.

Where have the Magpies come about so much money?

It wasn't that long ago they were asking for $2 donations and looking at their profit and loss statements since then nothing has really changed but allegedly they're paying players some very nice wages in recent years and the coming years AND they've purchased a hotel.

I'm just curious and was wondering if someone could tell me if they've had a windfall they're keeping quiet or if they're going on a make it or break it crusade?
Its not as though the Power could be leaking them money as they make less than half of the SANFL clubs assuming the financial figures they release are legit and I have no reason to doubt otherwise?

[Ian]

Its not as though the Power could be leaking them money as they make less than half of the SANFL clubs assuming the financial figures they release are legit

[sturt1]

Wedgie your team could be playing them in the GF this year.

[Wedgie]

Wedgie your team could be playing them in the GF this year.

I'd still rate the Eagles and the Dogs ahead of Port but that's beside the point, I just don't know where they got their money from and would be interested if someone knew. Purely a curiousity factor, good on them for getting out of the poo despite the fact their p&l statements dont show them doing it.

[sturt1]

Its only Norwood and Sturt that still have to get their finances in order then I think all nine clubs will be doing very well financially. I doubt if it has ever happened in SANFL history. It would be great.

[redandblack]

Very good question, Wedgie. Even ignoring salary cap questions, to go from asking for $2 donations to having a bottomless pit is very interesting.

You can understand North having plenty of money (I'm not talking salary cap here) as they have reported large profits, but Port........

[dogs01]

Dont forget Port have a very wealthy friend from Mount Gambier(Allan Scott).

[Magpiespower]

Dont forget Port have a very wealthy friend from Mount Gambier(Allan Scott).

Not that he's a footy die-hard but I believe he is a Glenelg supporter.

Apparently at the AGM, Matthew Richardson said that the club would not have been able to afford Jeremy Clayton if not for the $2 campaign.

[dogs01]

Thats why he brought the Prince of Wales for them.

[Punk Rooster]

Apparently at the AGM, Matthew Richardson said that the club would not have been able to afford Jeremy Clayton if not for the $2 campaign.

That explains Clayton- what about Baird, Bullen & Alvey ($'s RIP)???

[drebin]

plus Morrison, Butcher plus what they are paying Waterhouse....so it goes on.

Must be doing well under the table - they only recorded a $11,000 profit and thier CEO stated - it's on their website that their under lease of the pub won't produce any significant income for 3 years. So who has been writing the cheques?

[Gravel]

The $2- campaign has raised over $170k and is continuing to raise about $30/40k pa
Port Magpies have the highest sponsorship and membership income of any club outside the AFL. A new major sponsor has joined in 2006 (Crazy Johns)
Largest SANFL attendances in 2006
2 seasons ago only 75% of salary cap was used
The hotel provides employment for some players - like other clubs this is not included in the salary cap. The club paid $700k towards the purchase. Not aware that Allan Scott had any involvement with the Hotel purchase but he is the clubs joint No 1 ticket holder (with John Cahill)
I understand Tony Santic (new No 1 ticket holder for the Power) has assisted financially in setting up the West Coast accademy
The Port club (SANFL 25% AFL 75% distribution) underwent $1.0m in renovations in 2005
During 2004 the club appointed a new chairman in David Basheer and CEO Matthew Richardson. Basheer has expertise in hotels/hospitality and Richardson in marketing
I think these are some of the reasons Port has turned around its cashflow for a few years ago.

[Punk Rooster]

The $2- campaign has raised over $170k and is continuing to raise about $30/40k pa
Port Magpies have the highest sponsorship and membership income of any club outside the AFL. A new major sponsor has joined in 2006 (Crazy Johns)
Largest SANFL attendances in 2006
2 seasons ago only 75% of salary cap was used
The hotel provides employment for some players - like other clubs this is not included in the salary cap. The club paid $700k towards the purchase. Not aware that Allan Scott had any involvement with the Hotel purchase but he is the clubs joint No 1 ticket holder (with John Cahill)
I understand Tony Santic (new No 1 ticket holder for the Power) has assisted financially in setting up the West Coast accademy
The Port club (SANFL 25% AFL 75% distribution) underwent $1.0m in renovations in 2005
During 2004 the club appointed a new chairman in David Basheer and CEO Matthew Richardson. Basheer has expertise in hotels/hospitality and Richardson in marketing
I think these are some of the reasons Port has turned around its cashflow for a few years ago.

The problem we're having, is that this new wealth apears to be unexplained... it doesn't correspond with the profit & loss statements. It would be like someone on the dole paying cash for a house in Burnside...

[Wedgie]

The $2- campaign has raised over $170k and is continuing to raise about $30/40k pa
Port Magpies have the highest sponsorship and membership income of any club outside the AFL. A new major sponsor has joined in 2006 (Crazy Johns)
Largest SANFL attendances in 2006
2 seasons ago only 75% of salary cap was used
The hotel provides employment for some players - like other clubs this is not included in the salary cap. The club paid $700k towards the purchase. Not aware that Allan Scott had any involvement with the Hotel purchase but he is the clubs joint No 1 ticket holder (with John Cahill)
I understand Tony Santic (new No 1 ticket holder for the Power) has assisted financially in setting up the West Coast accademy
The Port club (SANFL 25% AFL 75% distribution) underwent $1.0m in renovations in 2005
During 2004 the club appointed a new chairman in David Basheer and CEO Matthew Richardson. Basheer has expertise in hotels/hospitality and Richardson in marketing
I think these are some of the reasons Port has turned around its cashflow for a few years ago.

The problem we're having, is that this new wealth apears to be unexplained... it doesn't correspond with the profit & loss statements. It would be like someone on the dole paying cash for a house in Burnside...

Exactly Punky, they only made $11k last year and haven't by memory made any decent profits since they were in the poo.
Where is the $$ coming from?

[Barto]

Port have always had a "legitimate businessman's club". All above board, of course.

[Gravel]

In 2004 PMFC had income of $1.404m and expense of $1.387m for a profit of $17k
Income increased in 2005 to $1.572m but expenses also increased to $1.561m for a profit of $11k
The profit is arrived at after all expenses are accounted for - player payments, coaching and admin expenses etc
So to answer the questions of Wedgie and Punk Rooster the extra income (wealth) is easily explained by the Profit & Loss statement (sumarised above).The additional 2005 income of $168k came from sponsorships, memberships and fundraising and was all spent.
Hopefully that clarifies

[Wedgie]

Nup, doesn't clarrify at all, so basically the club has made $28K in last 2 years.
That doesn't account for half of one of the current recruits contract.
There seems to be a few hundred K that either:
a) was made and not declared
or
b) wasn't made and the club is going severely into debt

I'm still not sure which?

[dogs01]

A bit from column A and a bit from column B

[Gravel]

Wedgie - The$28k profits over the last 2 years is after all payments to players, admin and running costs etc
They don't have $28k to pay the costs. In 2004 they had $1.404m and that amount increased in 2005 to $1.572m
The $28k is what was left over

[Wedgie]

Wedgie - The$28k profits over the last 2 years is after all payments to players, admin and running costs etc
They don't have $28k to pay the costs. In 2004 they had $1.404m and that amount increased in 2005 to $1.572m
The $28k is what was left over

I know what the 28k is, its the total profit they've made in the last 2 years.
I have no idea what the deposit for the pub is but even not taking that into account they'd need a profit of a few hundred thousand to pay what some of the players contracts that theyve signed in the last few months, hence (again) my question.