SA Footy

Far from being on death's door Glenelg FC have presented Holdfast Council financial projections that show them in surplus during the 16/17 financial year and making significant debt reduction payments over the next five years.

Maybe Chiggy's just using one of his time honoured scare campaigns to rustle up a few extra bums on seats?

https://www.holdfast.sa.gov.au/webdata/ ... 202016.pdf

But that is assuming they can increase revenue and that is a big issue at most clubs.

I'm always very sceptical about financial projections that involve footy clubs. There are so many unknowns with regards to income and costs for even the next 6 months and they aren't necessarily correlated like a lot of regular businesses.

Very true Graham. Although my club have been careful re spending along with sensible debt reduction, all we need is a decent down turn re gaming revenue plus a drop in meal and liqour sales at our two venues then we would have to re forecast and plan again. The only benefit for us over next few years that the SANFL dividends re sale of AAMI will cover our entire debt without us having to worry about finding additional money to service that along with the usual yearly increase in expenses running a SANFL club. This of course is unless we choose to spend more which is likely as we are looking at a $700k upgrade / change at Prospect Oval. We also have significant cash reserves sitting in interest earning accounts as a safety back up. We just need to pull our finger out on field.

As I have said before repeatedly - we need the clubs to wrestle back control of our comp and all ensure that the 8 clubs are viable and competitive otherwise the comp is doomed.

Just thought it was interesting that at the same time Chiggy's all over the media with warnings about how the club may fold, he's also telling the Council that everything's AOK.

Which one is true then?

probably hoping that those disenchanted fans like me, will go back to the club....

topsywaldron wrote:Just thought it was interesting that at the same time Chiggy's all over the media with warnings about how the club may fold, he's also telling the Council that everything's AOK.

Which one is true then?

Both.

For those interested, I'll post my usual opinion piece on Sturt when I eventually receive the financial report from the club.

I was at the AGM and so know the general situation.

SFC posted a $191K profit on top of the $319K profit from last season. Debt (from memory) has been reduced by about $1.3m over the last 2.5 years to something like $1.5m, so on the face of it, one has to be impressed by the clubs management during that period.

I'll take a look at the numbers more closely when I have the 1's and 0's in front of me. I've been critical of the clubs management in past seasons and rightly so, but at the same time I give credit where credit is due.

Many claps to the club, they appear to have done some great work off field.

csbowes wrote:I'll take a look at the numbers more closely when I have the 1's and 0's in front of me.

You're going to convert them to binary first?!?

South Adelaide Football Club Chief Executive Officer, Wayne Peters has announced his intention to retire from his position effective March 2016.

Mr Peters, who was appointed as CEO in December 2014, advised the South Adelaide Board of his plan to retire at its February meeting.
“My time at the Club has been a rewarding experience and I see the current playing group as a cohesive and focused team, who I believe will perform well in the coming season,” said Mr Peters.
“When I originally agreed to come out of retirement to assist the Club it was always going to be a short term proposition. With the imminent sale of our family business it is time to look at personal goals.
"I am confident in the future direction of the Club on and off the field and believe the initiatives and processes developed during my time as CEO will continue to make a positive impact."
The South Adelaide Football Club would like to thank Mr Peters for his contribution to the Club as CEO and wish him and wife Cathie, who have also been long time sponsors of the Panthers, the best in their future plans.
General Manager Football, Neill Sharpe has been appointed South Adelaide’s interim CEO until further notice.

Pseudo wrote:

csbowes wrote:I'll take a look at the numbers more closely when I have the 1's and 0's in front of me.

You're going to convert them to binary first?!?

You'll need one of these.

Surprised there's been so little convo on this:


TUESDAY MARCH 15 2016
2015 SANFL FINANCIAL RESULTS

The SANFL has released its 2015 Financial Year results, which underline how the strong performance of Adelaide Oval and continued operational efficiencies will see more funds directed into game development.
The SANFL recorded a positive net cash flow from operating activities of $2.5 million, increased its cash reserves to $3.2 million and lowered its debt profile by more than $11 million.
The organisation also reduced costs by a further $0.9 million in 2015 through staff and expenditure efficiencies. When combined with the 2014 savings, the SANFL has achieved savings of $2.4 million over the past two seasons.
“We are balancing the strong performance of Adelaide Oval with a continued focus on organisational efficiencies,” said SA Football Commission Chairman John Olsen AO.
“The fact that we have pruned almost $2.4 million from our operational expenditure since leaving AAMI Stadium means we will be able to direct more funds into areas such as women’s football, game development and junior footy.”
The SANFL’s debt has reduced from $37 million to $22.9 million due to the sale of land at the AAMI Stadium precinct and repayments from cash generated from SANFL’s operations.
In addition, debt servicing costs reduced by $1.1 million through the reduction in debt and lower interest rates.
Mr Olsen said 2016 would see the commencement of debt retirement payments to the eight SANFL league clubs.
“From this year, we are commencing payments totalling $16 million over the next seven years to the clubs for the sole purpose of helping them extinguish debt,” he said.
“This is central to the SANFL’s commitment to use the proceeds from the sale of AAMI Stadium to secure the viability of our member clubs and then build a future fund for football.
“It is beholden on all of us – from the SANFL through to its clubs – to maintain a strong focus on costs to ensure we run our businesses as efficiently as possible and make the most of the positive impacts of the land sale and the performance of Adelaide Oval. Our collective financial viability underpins SA’s successful talent pathway, celebrated competition and participation growth.”

With that sort of spin he should go into politics.