SANFL Club Finances

[stan]

AAMI sold for $71m today, $10m upfront to be received by the SANFL

And they have a debt of 37mill not quite the financial windfall the SANFL would have been hoping for.
Hope they screw over the AFL clubs even more now

Its only fair that the two AFL clubs erase the debt before they get a fair ground deal

That will take a while. Why the crows are not paying rent at AAMI is crazy.

[DOC]

Thats the best article that has been published yet. SANFL has been in real trouble with its finances which could have been fatal, glad it is now public.

Agree Dutchy.

This part is of most interest to me:

"There is one passage in the report to the directors which helps explain why relations between the SANFL and Port in particular are so frosty. It reads:

“It should be noted that SANFL in May 2014 paid the PAFC a further $1.5m to enable it to repay its AFL creditors and start as an independent club with no more than $500,000 creditors, in other words with a clean slate. This took total PAFC funding from SANFL to $16.25m and increased SANFL debt to approximately $37m.”

So almost half the SANFL’s debt comes from helping Port. In addition, the SANFL is still incurring a cost of about $1.3 million a year to maintain Footy Park for Crows training.

Why the Crows would receive an ongoing free kick at Football Park is beyond comprehension in what is a commercial transaction in a commercial world. The only reason that would suffice is if the SANFL are contractually bound to provide it.

Port will now have to look to ongoing assistance from the AFL to survive. They will need to make plenty in the good years in order to survive the leaner years.

Their costs should increase when their time in the SANFL ceases.

[sjt]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

[knowledge]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

Who knows? But, at a guess Dubai, Darren Burgess...............?

[stan]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

Yep strange really.

[Fricky]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

I believe that when the Crows came in they and the SANFL signed a 40 yr rent free lease for West Lakes. Probably not the best decision by the SANFL

[JK]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

I believe that when the Crows came in they and the SANFL signed a 40 yr rent free lease for West Lakes. Probably not the best decision by the SANFL

You'd think the SANFL would have factored it in to their negotiations for the deal to move to Adelaide Oval though

[stan]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

I believe that when the Crows came in they and the SANFL signed a 40 yr rent free lease for West Lakes. Probably not the best decision by the SANFL

You'd think the SANFL would have factored it in to their negotiations for the deal to move to Adelaide Oval though

Maybe they have. Whats rent worth at West lakes? $1.5 per year?

[Mickyj]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

I believe that when the Crows came in they and the SANFL signed a 40 yr rent free lease for West Lakes. Probably not the best decision by the SANFL

You'd think the SANFL would have factored it in to their negotiations for the deal to move to Adelaide Oval though

Maybe they have. Whats rent worth at West lakes? $1.5 per year?

IIRC Rucci a few weeks back said on AA they were paying rent at footy park

[holden78]

The PAPS are a joke but so are the candys canes

[johntheclaret]

AAMI sold for $71m today, $10m upfront to be received by the SANFL

Not quite Jim
$10m transferred straight to the AFL

Not sure I fully understand why the SANFL had to borrow $10m from the AFL to give to an AFL Club

[knowledge]

AAMI sold for $71m today, $10m upfront to be received by the SANFL

Not quite Jim
$10m transferred straight to the AFL

Not sure I fully understand why the SANFL had to borrow $10m from the AFL to give to an AFL Club

Maybe the AFL weren't confident that the Power would ever pay it back if they gave it directly to them? After all, their credit references wouldn't have been too flash!

[topsywaldron]

First presentation from the sanfl to the clubs was that the Footy Park land would sell for $300M.

So only $229M short then.

[JK]

AAMI sold for $71m today, $10m upfront to be received by the SANFL

Not quite Jim
$10m transferred straight to the AFL

Not sure I fully understand why the SANFL had to borrow $10m from the AFL to give to an AFL Club

Sanfl were the license holders for the Power mate so were responsible for keeping them afloat

[JK]

First presentation from the sanfl to the clubs was that the Footy Park land would sell for $300M.

So only $229M short then.

Im glad someone brought this up because Id like to know why the valuation has dropped so deamatically too??

I believe the landscape has changed since initial valuations, with council not allowing as many apartments as were first desired, but surely that doesn't equate to $200mil+ difference??

[mighty_tiger_79]

what does the future hold?

[Hondo]

Three years ago John Olsen was quoted as saying estimates of $200m for the property were "wildly optimistic".

That's not even $300m. So did they tell the clubs $300m while telling the public a lot less than $200m?

[UK Fan]

dont they owe us $15 mill for two licences.


Debacle is a word that springs to mind


I warned ya,financials don't lie.

[stan]

dont they owe us $15 mill for two licences.


Debacle is a word that springs to mind


I warned ya,financials don't lie.

Thought that had gone through?

[kickinit]

How can the crows not be paying rent? The sanfl no longer owns the licenses.
How can port have their debt wiped, increase revenue by about 40%, exceed their anticipated "uplift", and still lose 2.5m? Where has all the extra costs come from?

It cost the club more to hold a game at AO then they make from it. Take a guess which game port made the most profit on last year