North Melbourne

[Dutchy]

I have an issue with the debt we hold and am glad at least something is being done with it, doesnt matter if you area 10yo or a multi national company debt will drag you down and restrict your trading. Having said that debt levels have remained relatively the same but we have now got a $15m facility and a full coaching and support network for the on field operations. Now that is in place the focus is on the debt.

No matter how it is eliminated if JB can succeed with this one the club will be in a very strong position and ticked all the boxes he promised when he came in as President.

The club has never, ever been so professionally run as it is now.

BTW love the new membership ad ->

[Dutchy]

And to give some perspective, Carlton are in a much worse position to us and even pleading with Carlton people to help them out but that doesnt get the beat up in the media that the Roos cop....

Blues in the red: $6.9m to be repaid by October
Mark Hawthorne
February 26, 2011


CARLTON faces an end-of-season debt crisis, with $6.9 million of loans due to be repaid by October 31.

The Blues have amassed more than $10 million of debt that must be repaid within two years. It is the highest level of current liabilities in the AFL, but the club believes revenue from 260 new poker machine licences, along with the good grace of its bankers and the AFL, will stave off insolvency.

Such is the concern that Carlton's directors issued a warning in this year's accounts. ''As at October 31, 2010, the Carlton Football Club had a current asset deficiency of $8.1 million,'' it read. ''This gives rise to significant uncertainty about the ability of the company to operate as a going concern.''

That current asset deficiency has soared from $3.5 million in 2008 to $8.1 million last year.

But chief executive Greg Swann said he expected Westpac and the AFL to roll over the loans once again this season. ''That is what has happened for the past four years of my tenure. The debt is an issue, we don't hide from that. The directors are aware of it, but we have budgeted to make inroads into that over the next two or three years.''

A number of rival clubs and independent accountants have also suggested that Carlton has been ''misleading'' in claiming a $2.23 million operating profit. They say the figure includes as operating revenue $2.39 million of government grants earmarked for the redevelopment of Visy Park.

St Kilda, Richmond, the Western Bulldogs and North Melbourne all received such grants for rebuilding training facilities. None treated that money as operating revenue in their annual accounts.

Joe Dicks, a forensic accountant with Melbourne-based firm PPB, said: ''I see what Carlton has done, but one would suggest the club is not playing the game properly here.

''They get to report a big profit, but most of that money has come from a grant that is to be spent on capital works.

''It's not money from the usual operation of the football club,'' Mr Dicks said. ''It's very misleading, especially as the club has sent out a media release declaring it has made a substantial profit. One would be perfectly within their rights to say Carlton is not being very transparent.''

Mr Swann shrugged off such concerns. ''A proportion of the grant money we generated ourselves … To say that profit figure was misleading is wrong. We reported as per the Australian accounting standards and through the auditors.''

Mr Swann said the club would make a $1 million profit this year without any government grants.

''The business will now stand on its own two feet. That said, it's an important time for Carlton people to get behind the club if we are to eradicate the debt.''

After striking a deal with Victorian pokies king Bruce Mathieson, the Blues will open new gaming premises in Richmond, Williamstown and Bulleen. From August, the club's 260 new poker machines will start raking in funds.

[Booney]

And to give some perspective, Carlton are in a much worse position to North Melbourne and even pleading with Carlton people to help them out but that doesnt get the beat up in the media that Port Adelaide cop....

Edited for accuracy.

[Dirko]

And to give some perspective, Carlton are in a much worse position to us and even pleading with Carlton people to help them out but that doesnt get the beat up in the media that the Roos cop....

Pleading

Enjoy the Tassie Roos Dutchy....

[Booney]

And to give some perspective, Carlton are in a much worse position to us and even pleading with Carlton people to help them out but that doesnt get the beat up in the media that the Roos cop....

Pleading

Enjoy the Tassie Roos Dutchy....

What would you have used in place of "pleading". Asking? Requesting? All means the same thing.

[gossipgirl]

Suspect Carlton have a much larger supporter base than North Melbourne so would be more likely to trade out of debt. With the latest TV rights then the reality is that no club will be allowed to fold. The main issue is the fact there are too many melbourne based clubs but the big money from TV rights covers it up. If one day the TV rights money dries up significantly. and the newly formed teams lose too much money and players salaries keep increasing then the AFL will struggle financially big time.

I think long term an 18 team competition is not viable and the wealthier clubs will always be near the top of the ladder.

[Pup]

Suspect Carlton have a much larger supporter base than North Melbourne so would be more likely to trade out of debt. With the latest TV rights then the reality is that no club will be allowed to fold. The main issue is the fact there are too many melbourne based clubs but the big money from TV rights covers it up. If one day the TV rights money dries up significantly. and the newly formed teams lose too much money and players salaries keep increasing then the AFL will struggle financially big time.

I think long term an 18 team competition is not viable and the wealthier clubs will always be near the top of the ladder.

Very unlikely.

[Hondo]

Dutchy, I agree that is a good membership ad

Poor Jack Ziebell is due for an injury free year and we can see what he is capable of

[valleys07]

Poor Jack Ziebell is due for an injury free year and we can see what he is capable of

Supercoaches dream the same thing

[Big Phil]

Big financial loss for the Roos - http://www.adelaidenow.com.au/sport/afl ... 6205390437

[Booney]

Arocca added North's shocking run with injuries earlier this year had hit the club's finances hard.

[Wedgie]

Arocca added North's shocking run with injuries earlier this year had hit the club's finances hard.

Band aids arent cheap Booney!

[Booney]

Arocca added North's shocking run with injuries earlier this year had hit the club's finances hard.

Band aids arent cheap Booney!

Tell me about it. We've been using them to keep our finances in order for years!

[Hondo]

In fairness I think there are extra costs clubs face when they have injuries - extra match payments for the reserves players being one. Rehab and medical costs another.

Dunno for sure, just guessing.

[Rik E Boy]

Arocca added North's shocking run with injuries earlier this year had hit the club's finances hard.

Didn't they have more injuries last year?



regards,

REB

[RustyCage]

And to give some perspective, Carlton are in a much worse position to us and even pleading with Carlton people to help them out but that doesnt get the beat up in the media that the Roos cop....

I read Essendon have emailed members asking for donations towards building a new training facility.

[mighty_tiger_79]

the Kangaroos are offering fans to have dinner with their fav player for a small $10k fee

[Big Phil]

Kangas being inventive with trying to raise funds to get out of debt...

http://www.sportsnewsfirst.com.au/artic ... lion-debt/

[Booney]

Non-finalists, $6.5 million in debt and asking for "Premiership Pledge's" to assure fans a GF ticket for the next 5 years IF they make one........

[mighty_tiger_79]

it might be for the NAB CUP grand final