Magpies back from the brink

[Booney]

Some good news coming from Alberton as the Magpies forecast a small profit for 2010. Well done to all that have supported the cause this year.


http://portside-messenger.whereilive.co ... the-brink/


THE Port Adelaide Magpies say they are on track to record a small profit in 2010 and will definitely be part of the SANFL competition next season.

The club says its new three-year business plan, which it presented to the SANFL earlier this month, forecasts a return to the black for 2010 and is only a short-term loan away from regaining financial stability.

Magpies president John Firth said the club’s biggest asset - The Prince of Wales Hotel - turned a profit last month for the first time in two years, boostinmg the club’s bottom line.

“Things are turning around, we’re not there yet but there is light at the end of the tunnel,” he said.

[JK]

Great news, well done to the Maggies and supporters etc, let's hope this is just the first step.

[topsywaldron]

Booney, what would be a good outcome for the Magpies in terms of membership next year?

[Booney]

With the publicity at the start of this year and the plight we faced to have over 7300 members on board this year is fantastic. I would be hesitant to think we would be in a similar spot this time next year so I would think 5500-6000 would be expected.

I really think the marketing department should be doing their best to perhaps campaign "Now you're on board, stay here" type of thing.

Demonstrating to people how easy it was to sign up this year so there is no reason to not sign on again next year. Anything less than 5000 and I would be concerned.

[whufc]

great news the sanfl is a better comp with a port magpies in it. have a feeling though its going to be tough over the next few years especially if results dont go there way. hopefully they can keep memberships over 5000

[Dirko]

Does it factor in the early dividend from the SANFL ?

[Il Duce]

yeah the short term loan is to cover the void from reciving the sanfl's advanced payment....I think.

Reading this things look good, just got to make sure we maintian it.

Pies’ improving fortunes

* Record increase in membership from 2200 to 7200 boosts revenue by $220,000

* The Prince of Wales Hotel posts first monthly profit in two years

* Club expects to reduce debts from $1 million to $300,000 by end of 2010

* Third-highest average SANFL match-day crowds so far this season of 3515

* Business plan forecasts a profit for 2010 season

[sjt]

Well done to the Magpies.
Looks like Rucci, who was the only one that I can remember that wrote them off (numerous times), thankfully got it wrong.

[Wedgie]

Lois like in his time there Greg Edwards was the mist successful CEO they've ever had in terms of off field turnarounds, the figures don't lie!

[Go Legs]

Great news Booney, thanks for the update, I was planning on going to the last game of the season at Alberton vs North Adelaide just in case it was the last.

No need to now, we at Norwood can look forward to our usual stouches into the future.

Here's hoping for a long established return into the "Black" for the only Magpies I recognise and hold any form of respect for.

Cheers,

[CENTURION]

excellent news! We get to hate them for longer & improve Our winning run over them, currently sitting at the last 9 encounters! They truly ARE OUR BITCHES!!

[Dogwatcher]

Not yet Centurion, not yet.

[CENTURION]

9 in a row? they qualify.

[LPH]

Err... I think the Eagles may qualify too

[Booney]

excellent news! We get to hate them for longer & improve Our winning run over them, currently sitting at the last 9 encounters! They truly ARE OUR BITCHES!!

Let's hope we can get back where we belong and continue our wonderful Grand Final record when playing each other.

[Dutchy]

So the old line "If the SANFL clubs dont approve our merger with the Power we will not exist in 2011" was just a bluff, good call SANFL....

[Booney]

Where was that said Dutchy?

Or was it intimated that a merger would ensure our long term viability?

Might be the second.

[sjt]

Where was that said Dutchy?

Or was it intimated that a merger would ensure our long term viability?

Might be the second.

http://www.adelaidenow.com.au/sport/afl ... 5827749977

see Rucci video "no answer by then, the Magpies are gone" and note the word "oblivion".

[Booney]

Someone using Rucci on here to back up an argument?

"If the deal does not go ahead, the Magpies will be forced to sell off their only valid asset, the Prince of Wales Hotel.
That would almost certainly seal Port's SANFL fate."

[Booney]

So the old line "If the SANFL clubs dont approve our merger with the Power we will not exist in 2011" was just a bluff, good call SANFL....

Magpies...?