Which SANFL Club is most likely to be declared Bankrupt?

[wycbloods]

After posting a loss of $654 242 i think WAFC is heading in the wrong direction and will need some good efforts to make sure it doesn't become bankrupt.

[Barto]

West used to have such a great social club side to their operation. Probably another victim of the hotels getting pokies alongside the clubs.

[Barto]

Maybe a club in trouble can sell its 11% stake in the Power or Crows to an outside source? Each club also owns football park.... It would be interesting if a club was forced down this track - I hope all clubs survive otherwide we will lose supporters from the SANFL. There are many woodville and west torrens supporters who are lost to the SANFL - we need to keep everyone we can

Terrible idea, it's one of the better income sources they have.


Sturt sold their assets off over the years and now look where we are.

[Booney]

West used to have such a great social club side to their operation. Probably another victim of the hotels getting pokies alongside the clubs.

Yes and many would say because of that the football side of the operation suffered,in turn the social side has dropped off.

[Sojourner]

Will be interesting to see what happens when the next round of SANFL club figures come out for 2009 compared with 2008.

What I am noticing is that there is begining to develop a pattern amongst some - but certainley not all, Port Magpies supporters that they felt that the bid was for the Port Magpies to join the AFL which they did and they assumed, or figured that there would be no Port Magpies in the SANFL because the club had moved on. Hence the feeling being that the Magpies as they knew them are the AFL Power team today. If that is representative of a larger group of supporters it could be very difficult for the club to remain solvent?

[Dutchy]

BTW a company or corporation cant go bankrupt, insolvent yes but not bankrupt

[csbowes]

Why is this relevant???????

i think its very relevant in this global time of economic crisis which has hit everyone hard, and SANFL are very much included in that!

I must live in an ivory tower... my financial situation now is considerably better than 12 months ago... crisis smishis!

[csbowes]

For all of the hype by North Melbourne and the Western Bulldogs' supporters about having turned the corner, having achievable 5 year plans to get to prosperity et al, the accountants' declaration in the annual reports of both is that they would not be able to pay their debts as and when they fell due (i.e. they're insolvent) but for the guarantees on their loans (and/or direct financial assistance) of the AFL. Having had the bright idea of issuing shares to raise funds in the 1980s (hey, it was the '80s), the market value of North Melbourne shares has for a long time been zero (as opposed to the political power within the club that being a shareholder brings).

There are no shareholders at North Melbourne anymore just for the record...

[csbowes]

not voting doubt it could get that bad (i know 6 clubs made a loss this year) especially when you get a dividend back from the crows (does port ever pay a dividend back ? ) at worst i would think the league would bail a club out & work through any crisis a club would have

I know this has been discussed in other threads... but lets remember Port playing at AAMI doesn't cost the league money, it makes the league money, so in the end, Port is contributing to the health of the SANFL.

[csbowes]

Sturt sold their assets off over the years and now look where we are.

Lets face it... if there was a town of idiots, some of Sturt's boardroom leadership group could have professed to be their king...

[redandblack]

Maybe a club in trouble can sell its 11% stake in the Power or Crows to an outside source? Each club also owns football park.... It would be interesting if a club was forced down this track - I hope all clubs survive otherwide we will lose supporters from the SANFL. There are many woodville and west torrens supporters who are lost to the SANFL - we need to keep everyone we can

No club can sell its stake in the SANFL, Mark.

[Punk Rooster]

Which SANFL club is most likely to follow in the steps of Fitzroy and be declared insolvent?

I'm sorry, but Fitzroy are still going strong in the SAAFL & VAFA http://www.fitzroyfc.com.au/ ...

[Mark_Beswick]

I wasn't referring to selling it stake as a license, but its %of accumulated assetts. Ie) F/Pk, Crows, Power. All of these licenses are owned by the SANFL clubs.

[Wedgie]

I wasn't referring to selling it stake as a license, but its %of accumulated assetts. Ie) F/Pk, Crows, Power. All of these licenses are owned by the SANFL clubs.

They can't do that either mate.

[redandblack]

Correct, Wedgie.

The licences and assets are owned by the SANFL. The clubs are equal ''shareholders'' in the SANFL. They have no control over the assets unless the SANFL becomes defunct, or ceases to exist. I'm guessing, but that could only happen if all clubs, or a majority, agree.

[darley16]

If the AFL continue to expand at all costs the cost will be all our SANFL clubs that carry debt. As the AFL expands there will be fewer good players in the SANFL therefore standard drops members and sponsors fall off and attendences fall because no one is interested in watching sub-standard parkland footy. If not for pokies the end is nigh for not just a few clubs but in the long term the whole SANFL comp.

[Psyber]

No option to say that none of them will then
Regards
JAS

That's funny JAS !! I was thinking the same thing
We need to start adding the option of "I don't want to vote"
Because I would still like to see the results that others have voted

As I come across all sorts of polls on various socially orientated news sites I keep look for the "Who cares?" option, but that is not so much an issue here.
However, occasionally I could use an "Undecided" or "No opinion" option.

[Barto]

Why is this relevant???????

i think its very relevant in this global time of economic crisis which has hit everyone hard, and SANFL are very much included in that!

I must live in an ivory tower... my financial situation now is considerably better than 12 months ago... crisis smishis!

I reckon. What recession?

I've had a job offer every week on average and am currently working two. A year ago I had sweet FA going on.

[doggies4eva]

If the AFL continue to expand at all costs the cost will be all our SANFL clubs that carry debt. As the AFL expands there will be fewer good players in the SANFL therefore standard drops members and sponsors fall off and attendences fall because no one is interested in watching sub-standard parkland footy. If not for pokies the end is nigh for not just a few clubs but in the long term the whole SANFL comp.

You raise a very good point darley16. But I don't think there is any "if" about it. The AFL will continue to expand and draw greater interest from the media, the public and the sponsors. If it were not for pokies the SANFL would be dead now. I have been calling for some creativity in expanding the horizons of the SANFL but the usual response I get from posters on this site is "I don't want my current rountine changed in any way". It will take a crisis for the SANFL to reinvent itself. In the meantime there will be a slow death as clubs struggle and fall by the wayside covered by the spin doctors saying that attendances are growing. They are growing but their relevance compared to the impact that 2 new AFL teams will have is insignificant.

[has been]

Good topic this - the share the clubs hold in the SANFL are non transferable and as such worth no moneytory value as such to the individual club. They can't sell the share. Every club from my knowledge except central has made a loss at least 1 of the past 2 years. On figures I have seen 6 lost this year, 8 lost money last year. In a business sense every one except centrals would not be around in a commercial world. I know of 2 that are so close to the wall that it is not funny, dividend or not. I have heard from an insider that the SANFL are quite happy to let them fall or at least 1 of them.

I think you will find this is part of the AFLs laughing lattitude when it comes to dealing with the SANFL and it's 2 licences (port in particular) of - it's your problem use your money to bail em out.

Interesting times ahead over the next 3 years as they try to break down the powerbases and old boys school mentality that comes out of west lakes.