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Lucifer's Hero

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Lucifer's Hero last won the day on March 25

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About Lucifer's Hero

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    Red and Blue

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    MFC, Bridge, Travel, Good food and wine

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    Salem, Barassi, Stynes

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  1. Social distancing may be scrambling people's minds... Time for me to have a self imposed holiday from DL...
  2. I don't read all the DL threads so haven't seen Max's or Jake's comments. Would be grateful if you could provide a bit more info or a link. Thanks.
  3. I have emails from the club dated March 15 to explain the separation of players/staff and one on March 19 thanking members for their support and asking for them to get more people to sign up. Both were: we are in 'business-as-usual' type messages. The AFL is now in crisis mode: On March 22 the season was suspended. It is no long 'business-as-usual'. Nothing from the club since then. So yeah, I and perhaps the majority of the other 37,000 members, want to here that we will also survive and like the other clubs outline why they think that can happen.
  4. Another entity comes out to assure sports fans. Foxtel: We feel secure Apologies for quoting my own post but I would like to track how long it takes mfc to come out and reassure us.
  5. Outrageous if the AFLPA and contracted players allow that to happen. The minimum wage players are rookies and 1st and 2nd year draftees some of whom have moved interstate to play. I would really like to see some senior AFL players do a 'Chris Scott'; take a more compassionate stand - more compassionate to their non-playing club colleagues and to their junior playing colleagues. For Reiwoldt to argue that playrers have rent, mortgages and families to support is incredibly unaware of what is happening to millions of Australians losing their jobs who also have rent, mortgages and families to support.
  6. It would be a brave or maybe brash move right now. There are members who may be looking for membership refunds rather than chipping in some more coin. And it would make more business sense to wait until the AFL package is known and piggy-back off it. At least a DD program would have some context. And it would be useful if they announce some reduction in senior management salary packages at the same time. Btw, didn't Pert say that at EOFY 2019 we only $2.0m in Debt - has it ballooned since then? If @Palace Deesis correct there is a lot the club has to get right to avoid a PR disaster and broader member discontent despite the willingness of DL to chip in. We are the diehards. There are about 35,000 members out there that may not see it as we do. A time for the club to tread carefully.
  7. Other clubs identified as potential casualties have come out to reassure members: North Will Survive Suns: We Are Not folding! St Kilda's Return to Moorabbin could save the Club (Scroll down page to get to Saints story) Good to see they are on the 'front foot' and communicated with members and fans. Meanwhile, we wait.
  8. Don't get me wrong, I'm no leftie! Players often claim the AFL is a 'family'. In reality players are a fraternity within that 'family'. Its time they 'walk the talk' and take care of that family, especially the more vulnerable within it as well as their own blood families. If I was a player under the average pay and have already lost match payments I would be fast losing respect for the so called leaders. Dangerfield etal are letting their teflon coated egos get the better of them.
  9. They have one. It has $120m but it is nowhere near enough to survive this crisis.
  10. I find it reprehensible that players led by Dangerfield and mouthpiece Nick Riewoldt are digging their heals in on pay cuts. Their seemingly reasonable offer (reasonable to them) to take a 50% cut till end of May actually equates to just 8% per annum! Meanwhile, those they rely on the most to earn any income at all: coaches, football, fitness, medical staff and even admin staff have lost their jobs or work cut back. Realistically, players (about 400 of them) earning less than the average of about $350,000 is already taking a massive pay cut because their contracts would have a large 'matches played' component. It is Dangerfield, Riewoldt and the like that have the big guaranteed contracts. Where is their care for their younger, less experienced colleagues? I would have a bit sympathy if the 'leaders' said any player with a contract less than (eg) $100,000 was protected from any reduction. Note: this player would have already lost income by loss of 'match payments'. This would cover Rookies, first and second year draftees. Then a sliding scale % increase with size of contract so the bigger the contract the bigger the hair cut in $ terms. Right now, Dangerfield and Riewoldt look like greedy and stubborn plicks!!
  11. This post in another thread has a bit of a run down on our financial situation. imv it is not strong. We had a massive cash shortfall this year to the tune of about $10.0m so we used up all our cash reserves (incl sale of Leighoak cash) to cover it and cover expenses and to avoid debt. No idea what the 'fiancial investments' are and there is no 'Note' to explain them.
  12. I agree dc. Was just indicating all options will be looked at so folks don't assume that shutting down gws and gcs will solve the financial problems ahead. Just can't see an 18 team comp.
  13. It may be bye bye to those teams but will a Vic team be relocated to/merged with GWS or GCS? I have little doubt all options will be on the table.
  14. Hmmm. You know nothing of my background so it isn't wise to make claims like 'you clearly have no idea'. To address your comments: 'Money in the bank'? $225k isn't very much. 'Substantial assets can be made liquid'. Our only asset is the Bentleigh Club while worth more than $8.7m value in the Balance Sheet, it is not easily 'made liquid' . We don't have debt because we used up the $10.0m in Cash at the end of 2018 (a large part was the sale of Leighoak. Money that had been earmarked for our new Club facilities). Without the $10.0m we would be deeply in debt. For more detail, the 2019 Annual Report shows: Total Assets: $21.2m of which only $2.7m are 'Current Assets' (ie Cash or easily converted to 'Cash'). At the end of 2018 the 'Current Asset' figure was $11.2m with over $10.m in the bank in part from the sale of Leighoak. Total Liabilities: $10.1m of which $7.9m are 'Current Liabilities' ie due in the next 12 months. Note: That our Current Liabilities are 3.5 times our Current Assets is not a good sign! Net Assets: $11.133m - primarily the Bentleigh Club valued at $8.700m altho worth a lot more but not easily 'made liquid'. A Loss of just on $2.000m That does not look financially sound to me. That we used up $10m in cash in 2019 to pay bills shows how poor our cash flows were in 2019. We are one of the very vulnerable Victorian clubs, not just financially but also poor on-field performance over many years, small membership, fluctuating sponsorships (we may be the only club that does not have a long term 'anchor' sponsor). You may like to think we are we are not vulnerable, that is up to you. Media Rights agreements has gone up in smoke. It is now meaningless - Fox and Ch7 have stopped paying the AFL. No games, no broadcasts, no money. Any new Broadcasting agreement will match the landscape of the AFL at the time: 18 teams? 16 teams? 14 teams? Who knows. I will but money on 14 or 16 teams after shutdowns, mergers and relocations. Tbh, selfishly I just want mfc to be one of them. Time will tell if we survive.
  15. Staff Reductions Update The league has effectively taken control of all clubs and ordered the measures as they renegotiate with banks to secure lines of credit to keep the competition operating. Players are paid after work is completed and are certain to be paid up until March 27, the end of the current pay period. What happens after that is uncertain, given no games will be played. Up to 80 per cent of staff at the AFL and clubs have been stood down without pay Gold Coast and GWS had already told staff they were being cut back to the bare minimum and further meetings were being held at all clubs throughout the day.
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