SANFL AGM Reports

[csbowes]

Did anyone go to the Sturt AGM?

The AGM reports are on the website for those interested...

I'd be keen to get others people's thoughts on the balance sheet. Last year the club posted a $447K loss, but I said it was really a $655K operating loss as they included the debt demolition payments.

In other words, if it weren't for some people's generosity, the loss would have been the $655K.

This year the club has posted a $37K loss, but again that includes a $334K debt demolition payment, so again the operating loss to me is $371K. Am I way off here or would others see this as the real situation with regards operating profit / loss?

The other thing I noticed is that while total liabilities went down $267K, net assets are $155K worse. Financial liabilities are actually $81K worse, so to me it looks like the $562K in debt demolition payments the last two years hasn't actually reduced the overall club debt.

Maybe old debt has been retired, but new debt has been incurred?

I dunno, you'd think something good has come from such a huge fundraising effort, but I'm not sure I'm seeing it.

Can someone else shed some light on it? Give their thoughts...

[Big Phil]

Media Release from the SANFL...

Monday 17th March 2014

2013 AGM: SANFL HEADED BACK TO PROSPERITY

The SANFL is looking ahead to a period of sustained prosperity following the official conclusion of the 2013 financial year.

The League held its Annual General Meeting tonight (Monday 17th March 2014) and tabled its 2013 Annual Report, showing the SANFL made an underlying profit of $2.13m excluding depreciation, stadium write-down and abnormal items.

In 2013, the SANFL also reported:

- a positive net cash flow from operating activities of $3.8m compared with $1.3m in 2012;

- an increase in cash on hand at the end of the year of almost half a million dollars to $1.7m; and

- a 3% operating expenditure reduction.

The statutory loss of $12.4m was largely due to the continued write down of AAMI Stadium; a planned process undertaken to reflect the future revenue and value following the shift of AFL football to Adelaide Oval.

However, the SANFL will soon be able to recognise the value of the license it has to use Adelaide Oval for the next 80 years – which has been independently assessed by Ernst & Young at $93.5m – which will return the SANFL’s asset value to in excess of $100m in 2014.

“The League’s financial business plan shows a significant improvement in earnings from the 2014 season when football is played at Adelaide Oval,” said John Olsen AO, Chairman of the South Australian Football Commission.

“In addition to revenue opportunities, the League has implemented a lower cost structure as it will no longer be running a major stadium,” he said.

“The League’s commitment to provide additional funding to the Port Adelaide Football Club has concluded at a total of $14.75m - a fact not understood, recognised or appreciated by many.

“The elimination of this exposure upon the transfer of licences combined with the financial benefits of moving to Adelaide Oval will allow the SANFL to commence a debt reduction program from 2014.

“The underlying business continues to be profitable and the level of profit will improve as a result of a higher financial return from Adelaide Oval.”

Mr Olsen said the SANFL would also use the proceeds of selling land at AAMI Stadium to reduce its debt.

“After a process that has taken three years to get the land at AAMI Stadium rezoned, the SANFL went to market with an Expression of Interest process that concluded last week. We are currently evaluating the bids received to purchase all or part of the land,” he said.

“Inclusive of the proceeds from the sale of land, the SANFL expects to be able to fully repay its debt in coming years.”

The SANFL also reported strong participation numbers for 2013, including:

- more than 113,000 participated in football in South Australia and involvement at club level across the State rose to more than 45,000;

- the number of children aged 5-12 increased by 7.5% while total Primary and Secondary school participation increased by 13.5%; and

- participation in the South Australian Women’s Football League increased by 27.5%.

Mr Olsen also reflected on the wide range of issues dealt with by the Commission over the previous 12 months which included the AFL licences, the move to Adelaide Oval, the rezoning of AAMI Stadium and AFL ‘second’ teams in the SANFL competition.

“I doubt whether there ever has been a time with such diverse, complex and demanding issues on the table all at once,” he said.

“However, the hard work is not over and only continued financial vigilance, innovative thinking and a spirit of collaboration will see our potential realised.”

[Wedgie]

Too many exclusions for getting a true reflection foe my liking.

[sjt]

Media Release from the SANFL...

Monday 17th March 2014

2013 AGM: SANFL HEADED BACK TO PROSPERITY

The SANFL is looking ahead to a period of sustained prosperity following the official conclusion of the 2013 financial year.

The League held its Annual General Meeting tonight (Monday 17th March 2014) and tabled its 2013 Annual Report, showing the SANFL made an underlying profit of $2.13m excluding depreciation, stadium write-down and abnormal items.

In 2013, the SANFL also reported:

- a positive net cash flow from operating activities of $3.8m compared with $1.3m in 2012;

- an increase in cash on hand at the end of the year of almost half a million dollars to $1.7m; and

- a 3% operating expenditure reduction.

The statutory loss of $12.4m was largely due to the continued write down of AAMI Stadium; a planned process undertaken to reflect the future revenue and value following the shift of AFL football to Adelaide Oval.

However, the SANFL will soon be able to recognise the value of the license it has to use Adelaide Oval for the next 80 years – which has been independently assessed by Ernst & Young at $93.5m – which will return the SANFL’s asset value to in excess of $100m in 2014.

“The League’s financial business plan shows a significant improvement in earnings from the 2014 season when football is played at Adelaide Oval,” said John Olsen AO, Chairman of the South Australian Football Commission.

“In addition to revenue opportunities, the League has implemented a lower cost structure as it will no longer be running a major stadium,” he said.

“The League’s commitment to provide additional funding to the Port Adelaide Football Club has concluded at a total of $14.75m - a fact not understood, recognised or appreciated by many.

“The elimination of this exposure upon the transfer of licences combined with the financial benefits of moving to Adelaide Oval will allow the SANFL to commence a debt reduction program from 2014.

“The underlying business continues to be profitable and the level of profit will improve as a result of a higher financial return from Adelaide Oval.”

Mr Olsen said the SANFL would also use the proceeds of selling land at AAMI Stadium to reduce its debt.

“After a process that has taken three years to get the land at AAMI Stadium rezoned, the SANFL went to market with an Expression of Interest process that concluded last week. We are currently evaluating the bids received to purchase all or part of the land,” he said.

“Inclusive of the proceeds from the sale of land, the SANFL expects to be able to fully repay its debt in coming years.”

The SANFL also reported strong participation numbers for 2013, including:

- more than 113,000 participated in football in South Australia and involvement at club level across the State rose to more than 45,000;

- the number of children aged 5-12 increased by 7.5% while total Primary and Secondary school participation increased by 13.5%; and

- participation in the South Australian Women’s Football League increased by 27.5%.

Mr Olsen also reflected on the wide range of issues dealt with by the Commission over the previous 12 months which included the AFL licences, the move to Adelaide Oval, the rezoning of AAMI Stadium and AFL ‘second’ teams in the SANFL competition.

“I doubt whether there ever has been a time with such diverse, complex and demanding issues on the table all at once,” he said.

“However, the hard work is not over and only continued financial vigilance, innovative thinking and a spirit of collaboration will see our potential realised.”

As I've said many times, the sanfl was in the perfect position to stand up to the whims of the afl clubs. Sell the afl licenses, attain value from the footy park land and receive the Adelaide oval management fee. No longer have a liability or obligation to support port (or the crows), leave this to the afl as per the other afl clubs. Why bendover for a piss poor deal letting them into our comp. to no clubs financial benefit. They should have charged them a fee to enter the reserves comp.

[JohnnyG]

Media Release from the

As I've said many times, the sanfl was in the perfect position to stand up to the whims of the afl clubs. Sell the afl licenses, attain value from the footy park land and receive the Adelaide oval management fee. No longer have a liability or obligation to support port (or the crows), leave this to the afl as per the other afl clubs. Why bendover for a piss poor deal letting them into our comp. to no clubs financial benefit. They should have charged them a fee to enter the reserves comp.

The Crows are paying $400,000 direct to the 8 SANFL Clubs.
What are Port Power reserves paying?? Why are they still getting the SANFL annual dividend?

[daysofourlives]

Media Release from the

As I've said many times, the sanfl was in the perfect position to stand up to the whims of the afl clubs. Sell the afl licenses, attain value from the footy park land and receive the Adelaide oval management fee. No longer have a liability or obligation to support port (or the crows), leave this to the afl as per the other afl clubs. Why bendover for a piss poor deal letting them into our comp. to no clubs financial benefit. They should have charged them a fee to enter the reserves comp.

The Crows are paying $400,000 direct to the 8 SANFL Clubs.
What are Port Power reserves paying?? Why are they still getting the SANFL annual dividend?

Not really, this is a fallacy.
The Crows members get into SANFL games free. 50k divided by $14 is 3571 people across the 2 games the Crows play against each SANFL team. So if anymore than 3571 Crows members go to the 2 games the SANFL clubs are actually losing money on the Crows entry.
Did they not say they will get 4000 members to each SANFL game?
Now 400k to each SANFL club would be much more appropriate

[JohnnyG]

Media Release from the

As I've said many times, the sanfl was in the perfect position to stand up to the whims of the afl clubs. Sell the afl licenses, attain value from the footy park land and receive the Adelaide oval management fee. No longer have a liability or obligation to support port (or the crows), leave this to the afl as per the other afl clubs. Why bendover for a piss poor deal letting them into our comp. to no clubs financial benefit. They should have charged them a fee to enter the reserves comp.

The Crows are paying $400,000 direct to the 8 SANFL Clubs.
What are Port Power reserves paying?? Why are they still getting the SANFL annual dividend?

Not really, this is a fallacy.
The Crows members get into SANFL games free. 50k divided by $14 is 3571 people across the 2 games the Crows play against each SANFL team. So if anymore than 3571 Crows members go to the 2 games the SANFL clubs are actually losing money on the Crows entry.
Did they not say they will get 4000 members to each SANFL game?
Now 400k to each SANFL club would be much more appropriate

When an SANFL Club member (eg South Adelaide) buys a home & away season ticket then who gets that money?

[Hazydog]

[/quote]

Not really, this is a fallacy.
The Crows members get into SANFL games free. 50k divided by $14 is 3571 people across the 2 games the Crows play against each SANFL team. So if anymore than 3571 Crows members go to the 2 games the SANFL clubs are actually losing money on the Crows entry.
Did they not say they will get 4000 members to each SANFL game?
Now 400k to each SANFL club would be much more appropriate[/quote]

When an SANFL Club member (eg South Adelaide) buys a home & away season ticket then who gets that money?[/quote]


Good question. Obviously they get the home game content but not sure about the away game component?

[smac]

Majority of funds go to the club that sells it. SANFL keep some administration costs I believe. @philh would be best one to answer.

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