CEO Resigns

[drebin]

Worrying times for the WAFC, especially with the comment made about the club going to the SANFL to "help resolve some of the issues".

Some of the membership and supporters got a lot of pleasure out of sticking knives into the back of Doug Thomas, I am not so sure though if this is the result they were looking for though....

Still its better that the club does turn to the SANFL before its too late because at least now steps can be taken to correct the issues, far better that than waiting until the recievers are called in later on to try and make some decisions.

Well the SANFL had better be very careful about helping out struggling clubs financially seeing as they turned their back on North a few years ago - gladly hoping for our demise which would have given them an 8 team comp. They offered zip - not even an offer of any sort (eg going guarantor for us against commercial borrowings).

Even though we are now the strongest club financially I have it on good authority the club will be asking serious questions of the SANFL if they start handing out money or assistance to other clubs.

We had to go to a few "backers" and get guarantors on big borrowings to get us back which we we duly did and now we are travelling very well financially so why can't the other clubs do the same? Despite what most people think we had to borrow the money commercially, it wasn't handed over by Mr. Gerard like most people believe or choose to believe to suit their bias.

[redandblack]

Nobody cares what North thinks about it, drebin. The idea of North complaining about the SANFL not sticking to the 'rules' will give the rest of us a good laugh

Following your logic, I'm not sure that a 20 round draw of North playing Centrals each week would be a major attraction after a while.

[Pete the Meat]

Worrying times for the WAFC, especially with the comment made about the club going to the SANFL to "help resolve some of the issues".

Some of the membership and supporters got a lot of pleasure out of sticking knives into the back of Doug Thomas, I am not so sure though if this is the result they were looking for though....

Still its better that the club does turn to the SANFL before its too late because at least now steps can be taken to correct the issues, far better that than waiting until the recievers are called in later on to try and make some decisions.

Well the SANFL had better be very careful about helping out struggling clubs financially seeing as they turned their back on North a few years ago - gladly hoping for our demise which would have given them an 8 team comp. They offered zip - not even an offer of any sort (eg going guarantor for us against commercial borrowings).

Even though we are now the strongest club financially I have it on good authority the club will be asking serious questions of the SANFL if they start handing out money or assistance to other clubs.

We had to go to a few "backers" and get guarantors on big borrowings to get us back which we we duly did and now we are travelling very well financially so why can't the other clubs do the same? Despite what most people think we had to borrow the money commercially, it wasn't handed over by Mr. Gerard like most people believe or choose to believe to suit their bias.

Why would the SANFL help out a club clearly breaching the player payments cap?

[Ronnie]

i agree that special assistance, if that is what West is after, is a tricky area.
However, North should tread carefully, if they want equal treatment for clubs then that applies to all areas, including player payments.
Tony, North need to translate their off field success into on field success, they haven't done that yet.
no use continually banging on about pokie revenue without success where it really counts.

[redandblack]

West aren't after special assistance from the SANFL.

[Sojourner]

West aren't after special assistance from the SANFL.

Well tell us more R&B????

[dash61]

The league looked at Westies situation and how financial issies are being handled, when you have assetts worth between 3-4 million at present its not a problem, it has to be reigned in though

THE LEAGUE IS CONCERNED AT ALL CLUBS, two clubs are very worrying and they have been hinted at, one has lost 280K and has no assets and the other is a basket case

[Go Legs]

i wonder if he is the only high profile administrator to pull the pin in the very near future.......no he wont be, the only clue i'll give is full back

Was he a player that wore nos 5 and had a polish surname????

maybe

Gentlemen, The name is Ian Stansinowski, great clubman for the Norwood Football Club, His resignation has been posted on the club Web Site
I take this opportunity to thank him from all members of the NFC for his dedication as a player and board member for so many years.

Have a great retirement "old salt" and see you under the Western Stand for a smoke as usual

Cheers

[dinglinga]

well news filtering out of westies is they have posted a loss of 400K loss and i hope westies fans are happy that there coach is getting paid in 6 figure land

[JK]

THE LEAGUE IS CONCERNED AT ALL CLUBS, two clubs are very worrying and they have been hinted at, one has lost 280K and has no assets and the other is a basket case

Im glad you just ruled us out Dash ... There's so much stuff going around at the moment it's hard to know exactly what to think/believe (even though much of it is close to the mark)

[Jackal]

No massive story connected to the Westies CEO moving on. I believe he did not really have a handle on what was going on and he let the situation slip. Yes West (like a number of other clubs) will record a massive loss but they have had a couple of special one of type expenses like paying out Doug Thomas. The loss will be under 300k...that is the good news.

[nickname]

No it won't, that is the bad news.

[LBJ8]

Why not just name the clubs it may not be true but it is interesting reading, plenty of news on this website has been wrong before, i don't mind it when people are wrong you can only go on what you've been told....SO SPILL IT haha

[dash61]

Why not just name the clubs it may not be true but it is interesting reading, plenty of news on this website has been wrong before, i don't mind it when people are wrong you can only go on what you've been told....SO SPILL IT haha

Quote from the sturt forum page, taken at the meeting (AGM)

With a numb of other supporters i attended the 2008 AGM which as wilton has already said almost looked like becoming a fizzer. Thank goodness it did proceed becos it was EASILY the best AGM i have ever attended. THere was a BRUTAL frankness from both the board and members which altho revealing a number of disturbing facts ABSOLUTELY laid the cards on the table.

Initially should i say that there is no doubt the next 3-5 yrs will dtermine our survivability a fact also alluded to by Richard Allen. Simplictically despite our wealth of junior talent a continuation of our deteriorating financial performance will, despite our hoped for saviours the pokies, see us out of business in the above time frame.

As i feared Bazaar , With a piddling 28K profit is scarcely impacting on our bottom line at all. The meeting was told that feverish attempts r being made to address this, and that within the local demographics the turnover is pretty good compared to other venues BUT of course the massive loan used to set up the joint impacts savagely. THANKFULLY movements in interest rates are going to help signif and may yet be our short term salvation in this joint. Iam abs sure we have excellent brains working on this but as Richard allen said you cant frog march people in ther to part with their coin.

THIS OF COURSE IS FURTHER CONFIRMATIO THAT UNLEY DEMOGRAPHICS CONTAIN SIGNIF NUMBERS OF VERY HIGH DISPOSABLE INCOME PEOPLE WHO BEING BLUNT HAVE IN GENERAL TOO MANY BRAINS TO REGULARLY BLOW DOUGH ON MACHINES. Frankly i cannot se this ever changing just as i cannot see any change to the truckloads of dills happily fuelling the dogs, north and souths coffers.( It is in teresting tho that of these 3 ONLY centrals r capitalising on it). My personal feeling now is that 100 grand will be the ABS MOST we can ever expect to make here AND that may be enuff if the castle continues to perform

Well that shows you what is happening all round. Any club that leases a facility alla the bazzaar, they lease the machines and the venue. A club that owns the pokie licence (each machine licence), venue ect, has a pontential value per machine of up to 200K in the near future, they are tradable as like shares etc, the machine doesnt hold the value, the freehold ownership of the individual machine licence is where the value is, a pub freehold with machines has a MUCH higher value than a leasehold, there is the problem for a club leasing

[Zulu]

dash, while Sturt rents the premises from which BarZaar operates, it (or more correctly the Unley Community Sports Club) owns the poker machine licences for all the machines. It is a nice asset to have should the changes to licence values occur as you have suggested.

Castle Tavern, on the other hand, is leased by Sturt.

[aceman]

Resigned effective immediatly with a new replacement (interim) to start in 2 weeks hmmm I think the rat you smell is pretty pungent wycbloods.

Leaving the post immediately makes one think that all may not be as it should be at Milner St.

[wycbloods]

Resigned effective immediatly with a new replacement (interim) to start in 2 weeks hmmm I think the rat you smell is pretty pungent wycbloods.

Leaving the post immediately makes one think that all may not be as it should be at Milner St.

That would be Milner Rd Ace