Sturt in Financial Trouble?

[dedja]

What is the total SFC debt at present, that $250k would offset?

The bank loans look to be $2.5m.

Where's the collateral to take out $2.5M in loans?

[Squawk]

Here's an answer for you ... merge with Norwood.

now now, just because Glenelg merged with the state team for a week.....

No need to learn a new club song ... you know it makes sense.

Yeah - just like Tigers and Panthers are both felines

[Squawk]

What is the total SFC debt at present, that $250k would offset?

The bank loans look to be $2.5m.

Where's the collateral to take out $2.5M in loans?

Presumably the gaming licences

[csbowes]

I think the important thing is for the club to be transparent to its members - tell them the situation, keep them regularly updated on the situation, and report against progress made with the help of members and supporters.

Gee wizz... some will see this as heresy!

[csbowes]

What is the total SFC debt at present, that $250k would offset?

The bank loans look to be $2.5m.

Where's the collateral to take out $2.5M in loans?

As mentioned... gaming machines would be part of it... they're worth around $1.1m... so loan must be against them and other assets the club has, but currently liabilities are higher than assets, not by much, but higher all the same.

[dedja]

I think the important thing is for the club to be transparent to its members - tell them the situation, keep them regularly updated on the situation, and report against progress made with the help of members and supporters.

Gee wizz... some will see this as heresy!

Not all ...

[dedja]

Here's an answer for you ... merge with Norwood.

now now, just because Glenelg merged with the state team for a week.....

No need to learn a new club song ... you know it makes sense.

Yeah - just like Tigers and Panthers are both felines

True, but both are financially stable and have clubrooms ...

[csbowes]

Here's an answer for you ... merge with Norwood.

The club tried that...

I don't remember Glenelg ever offering their hand in marriage though?

[Squawk]

I think the important thing is for the club to be transparent to its members - tell them the situation, keep them regularly updated on the situation, and report against progress made with the help of members and supporters.

Gee wizz... some will see this as heresy!

Yes mate, footy clubs can be very frustrataing off the field as well as on it!
All I'm saying is if their goal is $250k initially, communicate before, during and after the process of getting the money! Trust is very important.

[dedja]

Here's an answer for you ... merge with Norwood.

The club tried that...

I don't remember Glenelg ever offering their hand in marriage though?

Because they know no-one would be stupid enough to take on their finals record ...

[Squawk]

Bays and Sturt merger?
Well, crowds would be up on account that over the years, those two clubs seem to have the best eye candy attending their home games.

[csbowes]

I think the important thing is for the club to be transparent to its members - tell them the situation, keep them regularly updated on the situation, and report against progress made with the help of members and supporters.

Gee wizz... some will see this as heresy!

Yes mate, footy clubs can be very frustrataing off the field as well as on it!
All I'm saying is if their goal is $250k initially, communicate before, during and after the process of getting the money! Trust is very important.

I was just stirring... some supporters see demands for transparency and communication as being hyper-critical.

I completely agree with you, one way to get people on board is to disclose the situation in detail, don't be afraid of how it looks, because getting people to understand the issue, you have a better chance of getting buy in of the proposed solutions.

[dedja]

... but currently liabilities are higher than assets, not by much, but higher all the same.

To the unedumacated, doesn't that mean they are insolvent?

[csbowes]

Bays and Sturt merger?
Well, crowds would be up on account that over the years, those two clubs seem to have the best eye candy attending their home games.

Damn right... Dedja and I are total hunks, there's no denying it...

[dedja]

[csbowes]

... but currently liabilities are higher than assets, not by much, but higher all the same.

To the unedumacated, doesn't that mean they are insolvent?

I reckon so... though technically I think the debtor must be unable to pay their debt (or service it) to be insolvent.

[Squawk]

Bays and Sturt merger?
Well, crowds would be up on account that over the years, those two clubs seem to have the best eye candy attending their home games.

Damn right... Dedja and I are total hunks, there's no denying it...

LOL - I can tell from your avatars. Dedja likes to dress up and while you're only a little guy, you prefer taller blokes

Obviously, I meant the ladies at Unley and the Bay Ovals.

[Dutchy]

What is the total SFC debt at present, that $250k would offset?

The bank loans look to be $2.5m.

Where's the collateral to take out $2.5M in loans?

leaseholds over Barzaar and Castle Plaza.

[Sojourner]

I completely agree with you, one way to get people on board is to disclose the situation in detail, don't be afraid of how it looks, because getting people to understand the issue, you have a better chance of getting buy in of the proposed solutions.

Think this in a nutshell is the crux of the problem at Sturt in two ways, first off the openness about the problem and then the proposed solution.

Appeals for more money via donations and fundraising are all well and good, yet people need to have a clear picture from the club about how the problem is going to be resolved once and for all.

The issue appears to be assets to leverage against. Perhaps then rather than only giving the club money, one strategy could be to raise money to buy the club or have the club invest into assets - such as a Country Pub in their Zone or even into local real estate so that the club has something to leverage against with their finance structure? If Sturt find themselves owing more than they can back up with assets, that is where they can be shut down, irrespective of whether the club wishes to continue or not the decision can be taken out of their hands.

The other issue being that Poker Machines are not the Cash Cow they first were, the taxes are being ramped right up and various laws being changed to make it harder for clubs to draw a profit, the Smoking Ban is reported to have cost some venues significant turnover for example.

The main issue appears to be members that don't want to believe that its happening and who choose to ignore it, along with attacking anyone who suggests that perhaps there is a problem and wants to try and resolve the issue. The sooner the club get out on the front foot as they are in this article the sooner the problem will be solved which will happen if we all in the SANFL community get on board and attempt to deal with it.

[Dutchy]

Jeez Dutchy I agreed with a good part of that but, Murray Bridge, you'll hardly get opposition supporters to Mt Barker let alone Murray Bridge. (respects to Country Cousin). We're a state of a small population and wide areas and for an SANFL club to survive they have to keep in and around the suburbs of Adelaide. The Adelaide suburbs spread north and south due to geography hence Noarlunga and Elizabeth are viable for all supporters, just. Can't see Mt Barker or Murray Bridge being the same.

All Im saying is that IF Sturt were to make a risky decision to relocate then there would be more positives going to Murray Bridge than Mt Barker IMO.

> Better Weather
> Established grounds that you could play SANFL on immediately
> More mature established community, but in a growth phase
> It would not be much further time wise in a car from the CBD to MB than to Elizabeth and Noarlunga
> Murray Bridge is only 25 mins further on than Mt Barker