Dees plan to halve debt by christmas

[melbournefc18 4]

http://www.theage.com.au/afl/afl-news/demons-plan-to-halve-debt-20100320-qnbi.html

[wonnabeeri 277]

this is good news.

[sylvinator 96]

When are we bloody moving into Olympic Park training facilities.

I have heard we're going to move from junction oval about 5 years ago

[e25 5]

When are we bloody moving into Olympic Park training facilities.

I have heard we're going to move from junction oval about 5 years ago

The next couple of months. AAMI Park is very close to lockup stage.

It's not a matter of finding the funding or negotiating the right deal or the project falling through - we are merely waiting for handover of an almost complete construction project. Relax.

[Sir Why You Little 37,134]

thats cool but its just a re hash of the Wednesday Whiteboard video that i urge all to look at.

Keep up the great work Cameron.

http://bigpondvideo.com/afl/250223

Edited March 21, 2010 by why you little

[Disco Demons 92]

jim and cameron appear to be going along well.

winning games could help to reduce debt quicker

[45HG 1,559]

I thought we'd gotten our debt to around $825,000?

[Dee Fan 3,247]

I thought we'd gotten our debt to around $825,000?

It takes money to make money and the cost of the past two Debt Demolition functions was around $250k each. If you add that to the $825k it comes up to the $1.5m mark.

[Redleg 41,477]

It takes money to make money and the cost of the past two Debt Demolition functions was around $250k each.

As to the first one which I attended, that is impossible. Assuming 200 people for food and drink,some small souvenirs and including room hire, all up at say $100 per head, that would be $20K.

Edited March 21, 2010 by Redleg

[Sir Why You Little 37,134]

As to the first one which I attended, that is impossible. Assuming 200 people for food and drink,some small souvenirs and including room hire, all up at say $100 per head, that would be $20K.

Don't forget to add the Interest paid on the $825K. The silent killer interest along with running costs would get it close to $1.5 m

Which is why 3 years ago our $5 mill debt was closer to $8 mill and rising.

The club has done an amazing job to get the debt down so quickly.

In 10 years we could be in that big 4 to stay if we are diligent now and onwards.

Edited March 21, 2010 by why you little

[45HG 1,559]

If our debt was indeed $825,000, for interest to get that to 1.5 we must be paying an absurd amount of interest!

Running costs wouldn't come into debt because they'd be part of costs for this year wouldn't they? And that shouldn't come out of last year because we made a profit, albeit largely on the back of donations - but profit nonetheless.

[Dee Fan 3,247]

As to the first one which I attended, that is impossible. Assuming 200 people for food and drink,some small souvenirs and including room hire, all up at say $100 per head, that would be $20K.

Information given to me by an official of the club was that they cost $250k now whether this was each or for the pair I'm not 100% sure but that was what i was told. The official that told me would know I'm, 100% sure of that.

[RalphiusMaximus 6,088]

Information given to me by an official of the club was that they cost $250k now whether this was each or for the pair I'm not 100% sure but that was what i was told. The official that told me would know I'm, 100% sure of that.

I'm not really surprised by that figure. Factor in things like room hire, getting VIP's to attend, advertising... It all starts t add up.

Either way, it's a hell of a lot better than the $5mil of a couple of years ago. I wonder if Diamond Joe would like to come back and help us out again?

[Disco Demons 92]

If our debt was indeed $825,000, for interest to get that to 1.5 we must be paying an absurd amount of interest!

business pays higher interest than normal home loans,,,the reason is risk..

[Sir Why You Little 37,134]

If our debt was indeed $825,000, for interest to get that to 1.5 we must be paying an absurd amount of interest!

Running costs wouldn't come into debt because they'd be part of costs for this year wouldn't they? And that shouldn't come out of last year because we made a profit, albeit largely on the back of donations - but profit nonetheless.

I am only guessing 45, but Running costs through a football club are incredibly high now, and we haven't pulled big attendances consistently for 2-3 years at least so with the old stadium deal maybe we had to pay out quite a bit more in running costs.

and with interest payments hanging over everything i could see the figure rising, but as i say i am only guessing.

But once that debt and interest goes we should make make some good coin if we were able to reduce that debt during the Global Financial Crisis the club is doing very well.

[cooko 124]

maybe the debt has increased after purchasing a second bunch of membership stickers.. thanks to the first lot fading after 2 weeks

[e25 5]

maybe the debt has increased after purchasing a second bunch of membership stickers.. thanks to the first lot fading after 2 weeks

I'm pretty sure the sticker company foot the bill for that one, as they printed them on the incorrect stock.

Not exactly something the club has control of.

[darkhorse72 1,925]

hopefully we have a better than budgeted year and they almost clear it! As I imagine our estimates will be pretty low in terms of revenue.

[Inner Demon 1]

As to the first one which I attended, that is impossible. Assuming 200 people for food and drink,some small souvenirs and including room hire, all up at say $100 per head, that would be $20K.

Not even close. $100pp wouldn't have covered the booze alone. More like $500pp.

[Carlos Danger 380]

What happened to the Debt Demolition? It should keep running until we are out of the red.

[Demon trucker 1,800]

business pays higher interest than normal home loans,,,the reason is risk..

all we need is a white knight collingwood has one in there vs presedent he is giving 1 mill every year for the pass 5 years and the next 5 years,

life sucks we need they dont, but thats life the ones who need it get nothing, and the ones that dont get everything, why??????????,they dont even need to make a profit they get 1 mill profit for nothing, how much does eddie give i wonder?

[She Devil 64 21]

maybe the debt has increased after purchasing a second bunch of membership stickers.. thanks to the first lot fading after 2 weeks

Have the new stickers been sent out yet? I haven't received any.

[Arthur Dent 2]

all we need is a white knight collingwood has one in there vs presedent he is giving 1 mill every year for the pass 5 years and the next 5 years,

life sucks we need they dont, but thats life the ones who need it get nothing, and the ones that dont get everything, why??????????,they dont even need to make a profit they get 1 mill profit for nothing, how much does eddie give i wonder?

I just keep hoping somewhere out there there might be some rich old recluse who no-one knows of, who will donate millions when he drops of the perch. It's amazing what supporting the Dee's does to your brain sometimes

[Rogue 585]

What happened to the Debt Demolition? It should keep running until we are out of the red.

From the article:

The club is planning another mid-year fundraiser as part of its ''debt-demolition'' program

It is...

[H_T 3,049]

It is...

I'd love to see the club erase the debt this season. However, going on last season's wipeoff, it may take another fundraiser in addition to this year's to see it totally wiped.