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DEBT DEMOLITION

w00dy

By w00dy
in Melbourne Demons

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mikeod Mighty Demon

mikeod   21

Posted
Posted

This could well turn out to be the most important night in the club's history.

Its also important to think - how much does this save in the long run with regards to interest and the like? Its just enormous.

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rjay
rjay

I've said this a few times on other threads. This is definitely not the time... I sure hope the club is not this insensitive.

Lucifers Hero
Lucifers Hero

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 wa

Pates
Pates

I think the club should be holding off on it for now, there’s a lot going on in the world and people are still trying to figure things out. Australia isn’t even in lockdown.  When it happens, I’m

45HG Trident

45HG   1,539

Posted
Posted

Yeah tell me about it, i don't understand it at all.

Perhaps he thought he'd stick around...?

I head they were reluctant to sign someone on a set contract in case there was a change of heart/board and we had to pay him out. Still, why put him on 460,000

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heartbeatstrue Mighty Demon

heartbeatstrue   57

Posted
Posted
170 people in attendence plus 25 people who couldn't make it, making it 195 x $6,000.

Total amount pledged to be announced in a minute.

You with ASIO or something??

Gee glad I wasn't there, they would have skun me out...

Great intelligence, Haydo. Thx.

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beelzebub Legend

beelzebub   22,230

Posted
Posted

Youre absolutely spot on Mickrocks..the Interest is a killer. Get rid of a lot of that and al lof a sudden even the same revenue stream gets much hightened results.

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H_T Legend

H_T   2,941

Posted
Posted

WOw! :o

That pulls the heart strings Haydo, that is just...overwhelming.

Many thanks from all. Now its up to the rest to eat away at the debt over August (and the interest too - yes BB).

BB you could be spot on with the $1.75m prediction. By the end of August $3mill could be wiped off! :rolleyes:

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Rogue Trident

Rogue   585

Posted
Posted
Rogue, the three month "pay-out" is his payment for the three months he worked

If so, then there was no 'payout' at all - we had simply already paid him for work that he had done (ie. wages). I think it would be unlikely that there was no severance pay. It seems more likely that the 'payout' is equal to three months of work, as has been reported:

"McNamee lasted only 106 days, but will receive a payout believed to be $115,000, equal to three months of his annual salary at Melbourne."

http://www.news.com.au/dailytelegraph/stor...5016161,00.html

"The Demons are contractually obliged to give the departing chief executive a payout of about $115,000."

http://news.realfooty.com.au/sport/paul-mc...80723-3jmn.html

If there was in fact no payout, we've done a terrible PR job.

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45HG Trident

45HG   1,539

Posted
Posted

That's why I used quotation marks, and why Distance Demon provided that summary.

Because we (or me at least) don't think it was a payout, but actually just payment for his time in the job. And i'm happy to be proven wrong, as that would correct my judgement on the matter

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45HG Trident

45HG   1,539

Posted
Posted

Haha don't wanna be greedy but i'm hoping if half, 100 donate 6 thats 600, and 95 donate twice that, that's already about 1.75, not including if some put more in

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45HG Trident

45HG   1,539

Posted
Posted

Holy moley! That is amazing, our club is on the up people

GO THE MIGHTY DEMONS. i'm going to save as much as i can all month and donate as much as possible in one hit

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beelzebub Legend

beelzebub   22,230

Posted
Posted

:blink::blink::o

well....thats ...quite...remarkable...

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Guest TheVoice

Guest TheVoice  

Posted
Posted

Thats fantastic news

Some very generous people have just help stabilise the foundations of this great club.

Thankyou each and every one.

Any calls from India by any chance Haydo??

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danboyle99 Rookie

danboyle99   2

Posted
Posted

Best news ive heard for a while. Its all well and good to demolish the debt but we really need to start making profits. This is a great start though

I read on big footy

"There is still one function left for the members who are willing to donate between the 500-1000 buck mark, so hopefully we can get 200-300k from that as well, a great start to wiping that 5 million debt."

ANyone know what this function is? I would be happy to go

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