Glenelg financial trouble

[cracka]

The Clubs alluded to on Thursday night were :
West Adelaide almost insolvent.
Sturt relying on the Council to keep them alive.
Glenelg was the 3rd club alluded to.
"Perhaps a 4th " would be the Eagles.

Norwood keep copping shit from other supporters for not having official club rooms yet the ones that have great facilities.... Glenelg, West and even Sturt are almost broke ! Fantastic clubrooms does not equate to good revenue raisers .... those days went are gone !

Everyone is saying the SANFL will be stuffed now because of the Crows reserves coming in next year, by the look of this it's in a sh!tload of trouble already.

[Panther Pack]

Bays might have to cut back on those Latte's down Jetty road to save some coin!!!!!!

[Pseudo]

http://www.adelaidenow.com.au/sport/afl ... 6693543294


Guardian Messenger, August 8

OUTGOING Glenelg chief executive Rob Nelson believes the club is well placed financially to tackle a challenging period ahead.
...
he believed the Bays were one of the best placed clubs to get through the period because of their strong function and catering business, large supporter base and strong sponsorship network.
...
"We know that the industry cannot be solely relied on going forward and clubs have to develop a sustainable business model. I think Glenelg is in a good position to do that."


So things went from rosy to shithouse in the space of two weeks. Either that or ... Rob was (gasp) telling porkies!

[Jim05]

So now we have Honest Joe and Honest Rob

[UK Fan]

http://www.adelaidenow.com.au/sport/afl/departing-glenelg-ceo-rob-nelson-says-tigers-are-wellplaced-financially/story-fnii00l5-1226693543294


Guardian Messenger, August 8

OUTGOING Glenelg chief executive Rob Nelson believes the club is well placed financially to tackle a challenging period ahead.
...
he believed the Bays were one of the best placed clubs to get through the period because of their strong function and catering business, large supporter base and strong sponsorship network.
...
"We know that the industry cannot be solely relied on going forward and clubs have to develop a sustainable business model. I think Glenelg is in a good position to do that."


So things went from rosy to shithouse in the space of two weeks. Either that or ... Rob was (gasp) telling porkies!

So chiggy/triggy negotiated $500k for a yes vote!!!

Disgraceful!!!

[Mickyj]

The Clubs alluded to on Thursday night were :
West Adelaide almost insolvent.
Sturt relying on the Council to keep them alive.
Glenelg was the 3rd club alluded to.
"Perhaps a 4th " would be the Eagles.

Norwood keep copping shit from other supporters for not having official club rooms yet the ones that have great facilities.... Glenelg, West and even Sturt are almost broke ! Fantastic clubrooms does not equate to good revenue raisers .... those days went are gone !

Can you back up your Eagles Claim or is it just Eagle bashing time again from norwood fans !!

[SDK]

No I am not an Eagle basher I have great respect for that club. Just heard a few whispers, hope it is wrong.

[on the rails]

Well Stampy - let's hear your "gloating" on this thread or do we have to go to the Snouts forum to read that?

[Big Phil]

Media Release from the Bays...

Council backs Glenelg Football Club finance plan

The Glenelg Football Club has welcomed the Holdfast Bay Council’s approval of a financing plan which will ensure the Club has a viable, long-term future.

Councillors last night agreed to a proposal for the Glenelg Football Club to redraw its $2.5 million loan facility with the City of Holdfast Bay.

Glenelg Football Club President Nick Chigwidden says the Council’s support for the plan will help to deliver long-term security and stability for the Club.

“Like many South Australian businesses, the Glenelg Football Club has suffered as a result of the difficult economic climate,” he says.

“Combined with the legal costs associated with the Glenelg Oval lights project, poor weather conditions during the 2013 SANFL season, and our disappointing on-field performance this year, the Club’s cash flow has come under significant pressure while gaming revenues have also fallen. However, it’s important to note that player payments have not increased during this period.

“With the Council’s support for our proposal to redraw the loan facility, the Glenelg Football Club will now be in a position to implement a stronger business and management model.

“This is especially critical as the SANFL heads towards a new era.

“We will also be able to undertake important upgrades to our player facilities (to meet OHS&W requirements), and the Club’s function and bistro facilities.

“The result will be a strong and viable Glenelg Football Club that will continue to be a valuable asset for the local community and the City of Holdfast Bay,” he says.
Mr Chigwidden says the Glenelg Football Club Board has also identified significant savings through restructuring the Club’s operational management and football departments, to ensure better use of existing resources.

“We’ll also be doing more to engage with the local community – especially schools and sporting clubs – to make better use of our facilities. We would also like to thank our suppliers and loyal sponsors, members and supporters for their continued support through what has been a challenging year.”

The current balance of the loan facility is $1.7 million, due to significant repayments made by the Glenelg Football Club. The Council has approved the Club drawing an initial $300,000, with the ability to draw up to $500,000.

[gossipgirl]

The Clubs alluded to on Thursday night were :
West Adelaide almost insolvent.
Sturt relying on the Council to keep them alive.
Glenelg was the 3rd club alluded to.
"Perhaps a 4th " would be the Eagles.

Norwood keep copping shit from other supporters for not having official club rooms yet the ones that have great facilities.... Glenelg, West and even Sturt are almost broke ! Fantastic clubrooms does not equate to good revenue raisers .... those days went are gone !

Everyone is saying the SANFL will be stuffed now because of the Crows reserves coming in next year, by the look of this it's in a sh!tload of trouble already.

I dont think a handful of kiddies constitutes everyone

[beenreal]

Media Release from the Bays...

Council backs Glenelg Football Club finance plan

The Glenelg Football Club has welcomed the Holdfast Bay Council’s approval of a financing plan which will ensure the Club has a viable, long-term future.

Councillors last night agreed to a proposal for the Glenelg Football Club to redraw its $2.5 million loan facility with the City of Holdfast Bay.

Glenelg Football Club President Nick Chigwidden says the Council’s support for the plan will help to deliver long-term security and stability for the Club.

“Like many South Australian businesses, the Glenelg Football Club has suffered as a result of the difficult economic climate,” he says.

“Combined with the legal costs associated with the Glenelg Oval lights project, poor weather conditions during the 2013 SANFL season, and our disappointing on-field performance this year, the Club’s cash flow has come under significant pressure while gaming revenues have also fallen. However, it’s important to note that player payments have not increased during this period.

“With the Council’s support for our proposal to redraw the loan facility, the Glenelg Football Club will now be in a position to implement a stronger business and management model.

“This is especially critical as the SANFL heads towards a new era.

“We will also be able to undertake important upgrades to our player facilities (to meet OHS&W requirements), and the Club’s function and bistro facilities.

“The result will be a strong and viable Glenelg Football Club that will continue to be a valuable asset for the local community and the City of Holdfast Bay,” he says.
Mr Chigwidden says the Glenelg Football Club Board has also identified significant savings through restructuring the Club’s operational management and football departments, to ensure better use of existing resources.

“We’ll also be doing more to engage with the local community – especially schools and sporting clubs – to make better use of our facilities. We would also like to thank our suppliers and loyal sponsors, members and supporters for their continued support through what has been a challenging year.”

The current balance of the loan facility is $1.7 million, due to significant repayments made by the Glenelg Football Club. The Council has approved the Club drawing an initial $300,000, with the ability to draw up to $500,000.

Great to see that a side that lost 12 straight games didn't increase player payments.

[SDK]

Bit sad about the lights, bad timing. What if Glenelg were flying and right up near the top attracting 5,000 + to those night games ?
Glenelg supporters have always been front runners but when they are in front they DO pull a good crowd. Just a pity they invested all this money when they were rock bottom!

[Spargo]

Just a pity they invested all this money when they were rock bottom!

Not quite true SDK, these lights were planned a few years ago when Glenelg were near top of the table.

[Spargo]

Media Release from the Bays...

Council backs Glenelg Football Club finance plan

The Glenelg Football Club has welcomed the Holdfast Bay Council’s approval of a financing plan which will ensure the Club has a viable, long-term future.

Councillors last night agreed to a proposal for the Glenelg Football Clugb to redraw its $2.5 million loan facility with the City of Holdfast Bay.

Glenelg Football Club President Nick Chigwidden says the Council’s support for the plan will help to deliver long-term security and stability for the Club.

“Like many South Australian businesses, the Glenelg Football Club has suffered as a result of the difficult economic climate,” he says.

“Combined with the legal costs associated with the Glenelg Oval lights project, poor weather conditions during the 2013 SANFL season, and our disappointing on-field performance this year, the Club’s cash flow has come under significant pressure while gaming revenues have also fallen. However, it’s important to note that player payments have not increased during this period.

“With the Council’s support for our proposal to redraw the loan facility, the Glenelg Football Club will now be in a position to implement a stronger business and management model.

“This is especially critical as the SANFL heads towards a new era.

“We will also be able to undertake important upgrades to our player facilities (to meet OHS&W requirements), and the Club’s function and bistro facilities.

“The result will be a strong and viable Glenelg Football Club that will continue to be a valuable asset for the local community and the City of Holdfast Bay,” he says.
Mr Chigwidden says the Glenelg Football Club Board has also identified significant savings through restructuring the Club’s operational management and football departments, to ensure better use of existing resources.

“We’ll also be doing more to engage with the local community – especially schools and sporting clubs – to make better use of our facilities. We would also like to thank our suppliers and loyal sponsors, members and supporters for their continued support through what has been a challenging year.”

The current balance of the loan facility is $1.7 million, due to significant repayments made by the Glenelg Football Club. The Council has approved the Club drawing an initial $300,000, with the ability to draw up to $500,000.

Great to see that a side that lost 12 straight games didn't increase player payments.

And if they'd won 12 straight I highly doubt payments would have been increased.

[wycbloods]

Maybe the bays need Darren Chandler back in control............

[SDK]

Or a hole in the head !