PORT MAGPIES

[GWW]

Would have saved you some grief in 88, 90 an 92 if you could pull that life support

[bayman]

Would have saved you some grief in 88, 90 an 92 if you could pull that life support

indeed

[RustyCage]

I believe there was only one problem last year as far as late payment to players

Just a minor hiccup

From what I have heard, and what I have read in the annual report, the cash flow with the club isn't the problem, and apart from the late payment to players, the club has plenty actual cash. There was a fair reduction in money coming in form fundraising sources, and because of the new deal with the Port Club which started at the end of 2006. While the club made a $120000 loss for the year, there is a very heavy debt reduction program in place, where I think it was about $350000 was wiped out off of the clubs debts, mainly from the Prince of Wales Hotel. While the club obviously wouldn't be happy with making a loss, the club is actually a lot better off financially now than it was 12 months ago.

The club could have easily just paid off the debts at the agreed rate and made a sizable profit for the year, but want to get the debts paid off ASAP.

[RustyCage]

I believe there was only one problem last year as far as late payment to players

Just a minor hiccup

Well the club didn't have its supporters rallying to save a merger with another club like North did a few years back, and North appear to be doing fine, so i'm not sure why Port can't do the same and have their finances more secure within the next few years.

i remember port in the 80's doing the 'we need the money to survive' type of campaign & i know some blokes that 'donated' because they wanted port to stay in the comp so they can beat them in games

no i did not donate, i would've pulled the life support system out

The club was within a bees dick of folding at the end of 1983. A few years back I was at a Power training and I got a 1984 Magpies yearbook signed by Timmy G and he said the club was about 200k of debt and in a lot worse shape than when he did the $2 campaign, which was more of a prevention thing than the club actually being in crisis.

[Wedgie]

the cash flow with the club isn't the problem, and apart from the late payment to players, the club has plenty actual cash.

You'll have to expand upon this as Im very confused, surely if there was plenty of cash and cash flow isn't a problem they would have paid the players on time and not asked them to hold out until after their Gala Auction Night?

[RustyCage]

the cash flow with the club isn't the problem, and apart from the late payment to players, the club has plenty actual cash.

You'll have to expand upon this as Im very confused, surely if there was plenty of cash and cash flow isn't a problem they would have paid the players on time and not asked them to hold out until after their Gala Auction Night?

I dont know the full story here, I was just going by what I have read from the annual report and elsewhere. I can only assume there was a clash with player repayments and their debt reduction stuff. Maybe someone stuffed up and paid out too much cash to pay off the debt and didn't leave enough behind to pay players! The only thing that comes to my mind if with the significantly decreased fundraising and turnover from the Prince of Wales, the money didn't come in quickly enough? I dont know.

From what I have heared from someone (involved), the payment of players was never in any doubt, just didn't happen at the time it was supposed to.

[NO-MERCY]

It will only get better. the club will profit from 2008 onwards.
The best thing unfortunately for the Magpies was to get out of Alberton, as the Power were screwing them. SAD!
The Prine Of Wales was a very smart investment, atleast they dont lose 80%+ to the Power now.
The future looks bright for the Magpies, as far as off field success, yet i can't say the same for onfield.

[Dutchy]

I believe there was only one problem last year as far as late payment to players, and from a good source inside the club Dutchy i've heard Lecras went back to Perth because his wife became pregnant and she wanted to go back home.

Check your source, its waaaaaay off...for one he isnt married....


Question I have to Port fans, when you are short of cash surely you borrow? only problem with that is if no one is prepared to lend you the cash....

[GWW]

I believe there was only one problem last year as far as late payment to players, and from a good source inside the club Dutchy i've heard Lecras went back to Perth because his wife became pregnant and she wanted to go back home.

Check your source, its waaaaaay off...for one he isnt married....


Question I have to Port fans, when you are short of cash surely you borrow? only problem with that is if no one is prepared to lend you the cash....

May not have been wife, obviously was his g/f then.

[bayman]

I believe there was only one problem last year as far as late payment to players, and from a good source inside the club Dutchy i've heard Lecras went back to Perth because his wife became pregnant and she wanted to go back home.

Check your source, its waaaaaay off...for one he isnt married....


Question I have to Port fans, when you are short of cash surely you borrow? only problem with that is if no one is prepared to lend you the cash....

May not have been wife, obviously was his g/f then.

you know the difference between a g/f & a wife ?

the g/f says yes

[Dutchy]

still struggling for the truth GWW

[GWW]

still struggling for the truth GWW

Only going by someone close to the club.

Whats your source?

[Dutchy]

a lot closer than a source....

[GWW]

a lot closer than a source....

lol that makes it clearer

[BUZZ]

Watched the boys in an internal trial last night, looked very different, Mark Clayton playing from full forward, 2 new un-known kids in the ruck, no Jeremy Clayton and a few U/19 kids in the back line and the looked pretty good as far as an internal goes. As with their money problems, you have to remember they are the only club of any sorts in Australia who own their own ground, the Magpies that is, and i wouldnt think their little sister the Power will ever let them go down wards financially, the Power owe the Maggies, end of story.....

[am Bays]

and i wouldnt think their little sister the Power will ever let them go down wards financially, the Power owe the Maggies, end of story.....

The post-script....

Yeah and the SANFL, who hold the license of the Power are ging to let one of their AFL clubs prop up one struggling SANFL club... (not that I think it will come to that)

[BUZZ]

and i wouldnt think their little sister the Power will ever let them go down wards financially, the Power owe the Maggies, end of story.....

The post-script....

Yeah and the SANFL, who hold the license of the Power are ging to let one of their AFL clubs prop up one struggling SANFL club... (not that I think it will come to that)

One of the most decorated clubs, the SANFL owe the Maggies aswel, if it wasnt for them footy park wouldnt have been built, who funded that?

[am Bays]

Are you saying the PAFC gifted Footy PArk to the SANFL???

HAving read and re-read the SA football Story many times there is nothing in it about Port Funding, part funding or even loaning the SANFL $$$ for teh bilding of Footy park but I'm sure you have a version that would enlighten me.

Anyway after 1990 Port owes the SANFL.....

[Psyber]

Are you saying the PAFC gifted Footy PArk to the SANFL???

HAving read and re-read the SA football Story many times there is nothing in it about Port Funding, part funding or even loaning the SANFL $$$ for teh bilding of Footy park but I'm sure you have a version that would enlighten me.

Anyway after 1990 Port owes the SANFL.....

BIGTIME!

[OCT]

Absolutely. Port made their bed ,now lie in it.As for who owes you , probably noone - you are a new club in the sanfl arent ya? You'll get there , just to think Centrals are now the dominamt side and club in the league , hang in there only about 30 years to go .

And how was it that Port got FP built ? Bet you wish you built a smaller stadium if it was all about Port. Go and check you records , when footy parkm was built and the 10 years prior to that and few after it the most dominant side in AUSTRALIA was not port .......it was ...????