Port Adelaide's Finances

[Voice]

4million from the SANFL and 1 from the AFL
So the AFL spend more money on an uproven rugby league player than an ailing club.
OH MY GOD!
I'm gob smacked.

Why? The AFL has said all along that its the SANFLs issue to deal with as they believe they are taking too big a piece of the pie.

Well the SANFL will survive as an entity but I'm sure the 9 clubs won't if this crap continues. Hope you like doing all your recruiting from U/18 amatuer league clubs and from Victorian youth that won't want to stay here . At least you'll still have a SA club to follow. Stuff the rest of us LOYAL local footy supporters who are as great in number as the attendees at your Power games.

[Macca19]

4million from the SANFL and 1 from the AFL
So the AFL spend more money on an uproven rugby league player than an ailing club.
OH MY GOD!
I'm gob smacked.

Why? The AFL has said all along that its the SANFLs issue to deal with as they believe they are taking too big a piece of the pie.

Well the SANFL will survive as an entity but I'm sure the 9 clubs won't if this crap continues. Hope you like doing all your recruiting from U/18 amatuer league clubs and from Victorian youth that won't want to stay here . At least you'll still have a SA club to follow. Stuff the rest of us LOYAL local footy supporters who are as great in number as the attendees at your Power games.

Sorry, I must have missed the part where the SANFL clubs dont get their dividend anymore.

[once_were_warriors]

4million from the SANFL and 1 from the AFL
So the AFL spend more money on an uproven rugby league player than an ailing club.
OH MY GOD!
I'm gob smacked.

Why? The AFL has said all along that its the SANFLs issue to deal with as they believe they are taking too big a piece of the pie.

Well the SANFL will survive as an entity but I'm sure the 9 clubs won't if this crap continues. Hope you like doing all your recruiting from U/18 amatuer league clubs and from Victorian youth that won't want to stay here . At least you'll still have a SA club to follow. Stuff the rest of us LOYAL local footy supporters who are as great in number as the attendees at your Power games.

Sorry, I must have missed the part where the SANFL clubs dont get their dividend anymore.

Correct clubs will still get their dividend, but are financially responsible for their debts, $

4mil/9 would ease some pressure on the old chook raffles

[Voice]

4million from the SANFL and 1 from the AFL
So the AFL spend more money on an uproven rugby league player than an ailing club.
OH MY GOD!
I'm gob smacked.

Why? The AFL has said all along that its the SANFLs issue to deal with as they believe they are taking too big a piece of the pie.

Well the SANFL will survive as an entity but I'm sure the 9 clubs won't if this crap continues. Hope you like doing all your recruiting from U/18 amatuer league clubs and from Victorian youth that won't want to stay here . At least you'll still have a SA club to follow. Stuff the rest of us LOYAL local footy supporters who are as great in number as the attendees at your Power games.

Sorry, I must have missed the part where the SANFL clubs dont get their dividend anymore.

If they keep giving your mob $4m then there won't be any dividend to give. I'm sure if it came down to the choice between the SANFL giving the dividends to the 9 clubs or keeping you inept club afloat, I know which one they'll choose.

[Squawk]

$4 million from the SANFL - no wonder the season ticket holders for SANFL had to compulsorily fork out $30 to cover tickets to AFL games, even if many didn't want them, need them, or in some cases, already had them.

Port has said it needs to spend money to make money and this $5m will allow that. Only problem is that I think they've been spending money the whole time and not getting any real return on investment.

Can someone clarify the status of dividend payments paid by the Power to SANFL clubs, since inception? How much, how often? I had a feeling that they haven't been making these payments.

And this is an unbelievable assertion, if true:

[i]Port's membership is currently 31,449 - up 2.9 per cent.

Growth in Power membership was tracking at 12 per cent in the summer. It was stopped in its tracks when the Magpies' financial crisis in the SANFL was detailed. The Power believes much of the drive that pushed Magpie membership from 2000 to 7500 ate into its potential growth.

[85 WAS A GOOD YEAR]

Sure there will still be dividends handed out at the end of the year! But geez, taking $4 million out has to cut it down pretty considerably - Anyone should be able to admit that! And all SANFL clubs rely on the handouts at the end of the year. No-one denies that.

You may read bitterness from some responses here, yes, but also a heap of frustration.

Seriously, how can money have been spent recently on the Power's new gym/basketball arena project, when I didn't think the old facilities could have possibly depreciated to such an extent that it could be prioritised within such a financially crippled club.

It's no wonder Andrew Dimitriou and Gordon Pickard have named or stipulated where their grants/donations to the Port clubs are to be spent with examples like this. To an outsider like myself, it just doesn't make sense.

[Turbo]

Can't keep propping teams up, make them merge or die

[Macca19]

Can someone clarify the status of dividend payments paid by the Power to SANFL clubs, since inception? How much, how often? I had a feeling that they haven't been making these payments.

*sigh*

The AFL clubs pay a set dividend at the end of the year, regardless of profit or loss, and have done for about 6-7 years now. Port pays about $400k, Crows pay about $650k.€ Prior to that, the AFL clubs paid a percentage (might have been 80%?) of their end of year profit.

Sure there will still be dividends handed out at the end of the year! But geez, taking $4 million out has to cut it down pretty considerably - Anyone should be able to admit that!

Well, no. The dividend hasnt changed for 6-7 years. The assumption that the money being given to Port, both this year and last year, would have otherwise gone to the SANFL clubs is clearly wrong.

[Macca19]

Seriously, how can money have been spent recently on the Power's new gym/basketball arena project, when I didn't think the old facilities could have possibly depreciated to such an extent that it could be prioritised within such a financially crippled club.

I think youll find the majority of the money used to upgrade the facilities came from the AFLs Facility Development Fund ($1m), plus both the state ($2.5m) and federal ($2.5m) government. From memory, I dont think the Power used much of its own cash for the project at all.

[Barto]

Are Port fans going to continue to scream that the SANFL is out to get them?

[zipzap]

A fax from SANFL headquarters to 5AA tonight clarified that not only did $4 million come from the SANFL, they have taken a loan out to pay for it!!!!!!! Going into hock for that schizo club while Demitriou swans in and takes all the credit with no risk. No wonder footy in this state is effed. Time the PAPs were cut loose - pack up your creed and your convoluted version of history and useless 'business models' and have a go at standing on your own two feet you wharfie muppets!

[Dirko]

A fax from SANFL headquarters to 5AA tonight clarified that not only did $4 million come from the SANFL, they have taken a loan out to pay for it!!!!!!! Going into hock for that schizo club while Demitriou swans in and takes all the credit with no risk. No wonder footy in this state is effed. Time the PAPs were cut loose - pack up your creed and your convoluted version of history and useless 'business models' and have a go at standing on your own two feet you wharfie muppets!

I agree ! Well said Zippy !!

[Squawk]

Can someone clarify the status of dividend payments paid by the Power to SANFL clubs, since inception? How much, how often? I had a feeling that they haven't been making these payments.

*sigh*

The AFL clubs pay a set dividend at the end of the year, regardless of profit or loss, and have done for about 6-7 years now. Port pays about $400k, Crows pay about $650k.€ Prior to that, the AFL clubs paid a percentage (might have been 80%?) of their end of year profit.

No need to sigh Macca - I wasn't sure of the answer so I asked the question. Thanks for answering it.

[pels]

A fax from SANFL headquarters to 5AA tonight clarified that not only did $4 million come from the SANFL, they have taken a loan out to pay for it!!!!!!! Going into hock for that schizo club while Demitriou swans in and takes all the credit with no risk. No wonder footy in this state is effed. Time the PAPs were cut loose - pack up your creed and your convoluted version of history and useless 'business models' and have a go at standing on your own two feet you wharfie muppets!

[Squawk]

You may read bitterness from some responses here, yes, but also a heap of frustration.

Seriously, how can money have been spent recently on the Power's new gym/basketball arena project, when I didn't think the old facilities could have possibly depreciated to such an extent that it could be prioritised within such a financially crippled club.

Macca cleared that one up but the principle behind that statement remains. There seems to have been numerous occasions where money has been spent doing things that are probably in the category of "cream" rather than cake. In these circumstances, the cake should be tossed out and Port should have focussed on damper - flour and water with a bit of heat applied. One example that springs to mind was the trip to visit Man U.

Also, I recall that a lot of Port's facilities have been from private sponsorship also (eg Alan Scott Headquarters). Given that Port has also received grant money for other facility upgrades, one does wonder where the rest of their football/social revenue has been spent if big ticket purchases have often been funded by "extraordinary income".

I know Port has said it has the lowest average expenditure on football operations - but if so, where is the rest of the money actually going?

Sure, many fans are frustrated but if more information was forthcoming, those people can either be genuinely frustrated or otherwise, just miffed.

[Dirko]

Why can't the SANFL loan the money? Make the **** pay it back.

[Squawk]

A fax from SANFL headquarters to 5AA tonight clarified that not only did $4 million come from the SANFL, they have taken a loan out to pay for it!!!!!!!

So the question is - has the loan been taken out by the SANFL and it will cover the repayments, or has it been taken out by the SANFL on behalf of Port Power and Port Power will have to make the repayments? If the latter, will dividends be affected and if so, to what extent and for how long?

Ironic - $4m from the SANFL for Port Power but no $$$ for the Magpies who wanted what - $1m tops?

[Dirko]

It's a grant. You just give 'em the money and hope they use it wisely. No loan repayments to worry about for a grant.

[Hondo]

Why can't the SANFL loan the money? Make the **** pay it back.

I think the SANFL ultimately own (right word?) the PAP anyway so I don't think it really matters who has the loan does it? It's like loaning money to your wife and forcing her to pay it back. Same end pool of money at the end of the day (unless you are split up of course )

All that seems to be happening is the bank is now lending direct to the SANFL rather than to PAP. Rather than forcing the interest payments to come out of PAP's revenue, it's now coming out of the SANFL's bigger revenue pool including Crows money.

I am not 100% sure on how the finances work but it seems ultimately to be one pool of money under the banner "SANFL Inc".

As per the 2009 annual report, the SANFL are very healthy financially although a lot of that net wealth is tied up in AAMI Stadium (book value $165m). Cash in bank $14m, loans $6m. The SANFL wanted to control the AFL license (fair enough too - share in AFL home game revenues) so now they have to pitch in.

I'll stand corrected on any of this. Interesting times.

[Hondo]

Ironic - $4m from the SANFL for Port Power but no $$$ for the Magpies who wanted what - $1m tops?

THink that tells you where the money is in footy in 2010 (rightly or wrongly)

Or where it isn't!