SANFL Club Finances

[Booney]

Any truth that South are in strife?
Hearing a decent loss recorded this year.
Find it hard to believe, dont they pay nothing at Noarlunga?

http://en.wikipedia.org/wiki/South_Adel ... tball_Club

During his Premiership Rann presented the Club with a 100 year peppercorn lease over the Noarlunga Oval site owned by the State Government in what he described as 'land rights for the Panthers'. The club presented the Premier with 100 peppercorns.

[darley16]

My understanding is that the club will report a substantial loss for 2014. The 99 year lease with the State Govn't is for the ground, the club borrowed $3.0ml to develop the facility on the western side (clubrooms, entrance, offices) once that long term lease was granted and in essence borrowed against it in order to improve the facility That debt is now of some concern and is the reason behind the recent management restructure.

[westcoastpanther]

I'm hearing it's around a $300k loss with a third of it paying out Fuller and associated costs. Another third is to do with the timing of pokie revenue or expenditure (can't remember which) payments that will be offset and help this years figures.

[stan]

How can he be regarded as independent if he has spent 14 years on an AFL clubs board. The infiltration is completed.
Thanks Olsen

So are we certain he takes an Sanfl spot? If thats the case he SANFL still has 3 seats.

[Ye Olde Place Kick]

How can he be regarded as independent if he has spent 14 years on an AFL clubs board. The infiltration is completed.
Thanks Olsen

So are we certain he takes an Sanfl spot? If thats the case he SANFL still has 3 seats.

In business with Roo and Goodwin. Probably trying to work out how to put a pub on the hill.

[Booney]

My understanding is that the club will report a substantial loss for 2014. The 99 year lease with the State Govn't is for the ground, the club borrowed $3.0ml to develop the facility on the western side (clubrooms, entrance, offices) once that long term lease was granted and in essence borrowed against it in order to improve the facility That debt is now of some concern and is the reason behind the recent management restructure.

So the club borrowed against something it doesn't own?

[westcoastpanther]

My understanding is that the club will report a substantial loss for 2014. The 99 year lease with the State Govn't is for the ground, the club borrowed $3.0ml to develop the facility on the western side (clubrooms, entrance, offices) once that long term lease was granted and in essence borrowed against it in order to improve the facility That debt is now of some concern and is the reason behind the recent management restructure.

So the club borrowed against something it doesn't own?

That would not be possible I wouldn't think, take me to the Bank Manager whose doing that!!

More likely against strong recent operating results and lower than normal expenditure (the lease) and a sound business case for the future based on the secured 99 year lease.

As stated above I think there a couple of one off's in this years result and it isn't that bad.

[stan]

How can he be regarded as independent if he has spent 14 years on an AFL clubs board. The infiltration is completed.
Thanks Olsen

So are we certain he takes an Sanfl spot? If thats the case he SANFL still has 3 seats.

In business with Roo and Goodwin. Probably trying to work out how to put a pub on the hill.

Really, tremendous.

[kickinit]

Hurley getting one of the SANFL spots on the SMA board is disaterous news for the SANFL clubs!

Why? being there will change nothing for the SANFL clubs.

[stan]

Hurley getting one of the SANFL spots on the SMA board is disaterous news for the SANFL clubs!

Why? being there will change nothing for the SANFL clubs.

Surely some of the money the SANFL made will go through to the 8 clubs. Surely.

[kickinit]

Hurley getting one of the SANFL spots on the SMA board is disaterous news for the SANFL clubs!

Why? being there will change nothing for the SANFL clubs.

Surely some of the money the SANFL made will go through to the 8 clubs. Surely.

How much they getting out of that $70m?

[stan]

Hurley getting one of the SANFL spots on the SMA board is disaterous news for the SANFL clubs!

Why? being there will change nothing for the SANFL clubs.

Surely some of the money the SANFL made will go through to the 8 clubs. Surely.

How much they getting out of that $70m?

I dont know mate. **** do you think I havr all the answers [emoji6]

[tkr]

Hurley getting one of the SANFL spots on the SMA board is disaterous news for the SANFL clubs!

Why? being there will change nothing for the SANFL clubs.

Surely some of the money the SANFL made will go through to the 8 clubs. Surely.

move-along.jpg (35.86 KiB) Viewed 1060 times

[darley16]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

[Booney]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

Mike Rann get free drinks whenever he pops in? Cripes....what a gift.

[stan]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

With a bank there is no grey area or "in essence". There is security against the loan and thats black and white. There is no way you would get a 3mil unsecured loan.

[Dogwatcher]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

Mike Rann get free drinks whenever he pops in? Cripes....what a gift.

Booney, now you've given me something to laugh at. Thanks.

[Booney]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

Mike Rann get free drinks whenever he pops in? Cripes....what a gift.

Booney, now you've given me something to laugh at. Thanks.

Not denying we've been given some very generous support. However, if you feel one thing has something/anything to do with the other, then chortle away good man.

[RB]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

With a bank there is no grey area or "in essence". There is security against the loan and thats black and white. There is no way you would get a 3mil unsecured loan.

The lease, rather than the land, might be security.

[Psyber]

Booney and WCP given the length of the lease (99yrs) this provided security against the borrowings as the property improvements that are built on the land that is leased are assets of the club therefore as i said "in essence" this provides the security against which the bank advanced their loan. The bank did not lend the club $3.0ml unsecured.

With a bank there is no grey area or "in essence". There is security against the loan and thats black and white. There is no way you would get a 3mil unsecured loan.

The lease, rather than the land, might be security.

Yes there are a lot of leasehold properties bought and sold in the UK and other older countries, and people have to borrow to buy them.
A leasehold if long enough can be a saleable commodity and thus security for a loan.

However it depends on the terms of the lease whether it would allow SA to sell or mortgage the leasehold in this case.