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No Debt - Future Fund Idea

Guest hangon007
Guest hangon007
in Melbourne Demons

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Posted

Now that we are debt free does anybody know if the club is implementing any over and above formalised future fund ideas to ensure that we never go into debt again?

Our Debt Demolition campaigns have been hugely successful and maybe we can continue the momentum and not rest on our laurels.

I was reading where Richmond are about to release their own version of "DD" yet they are setting target well past the Debt levels to give themselves a "war chest" for future years.

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    DEBT free...

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      On 26/11/2010 at 00:11, E25 said:

    DEBT free...

    Thanks for that ... trying to do tooooo many things at once.

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      On 26/11/2010 at 01:34, hangon007 said:

    Thanks for that ... trying to do tooooo many things at once.

    I assume you probably mean two many things at once.

    There'd be more chance of me buying that if you only made the mistake once in that post.

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    Anyway, personally, I think most clubs would struggle asking for charity once the club is no longer in debt.

    I managed to find spare cash for the Debt Demolition, but it's not something I can continue to do.

    I'll support the club, but I can't justify large donations when it is now safe and should be earning a profit in its own right.

    I already buy the heartland packages and my MFC/MCC membership is essentially a $160 donation.

    Beyond that they'll have to wait til I win tatslotto.

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    I wouldn't mind Paying $10-20 a year into a future fund, as a member. As long as this fund is Fully Transparent so that we the members can clearly see what our money is doing.

    I do not ever want to see the Melbourne Football Club in Debt again. To win Cups we must stay strong. Very Strong.

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      On 26/11/2010 at 03:23, E25 said:

    I assume you probably mean two many things at once.

    There'd be more chance of me buying that if you only made the mistake once in that post.

    Yeah maybe if I win tattslotto I will invest in a spelling and grammar coach. But thanks again.

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      On 26/11/2010 at 04:00, why you little said:

    I wouldn't mind Paying $10-20 a year into a future fund, as a member. As long as this fund is Fully Transparent so that we the members can clearly see what our money is doing.

    I do not ever want to see the Melbourne Football Club in Debt again. To win Cups we must stay strong. Very Strong.

    Yip. I'm with you. Possibly we could only access the funds under certain pre-determined fully transparent reasons.

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      On 26/11/2010 at 04:15, hangon007 said:

    Yeah maybe if I win tattslotto I will invest in a spelling and grammar coach. But thanks again.

    I was messing with your head.

    It is "too" many things.

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      On 26/11/2010 at 04:29, hangon007 said:

    Yip. I'm with you. Possibly we could only access the funds under certain pre-determined fully transparent reasons.

    You mean like the Red & Blue Foundation for money specifically towards equipment (Player Development Fund) or training facilities (Facility Development Fund)?

    Already in place:

    http://www.melbournefc.com.au/red%20and%20blue%20foundation/tabid/7496/default.aspx

    & I believe it's tax deductable...

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      On 26/11/2010 at 04:37, E25 said:

    You mean like the Red & Blue Foundation for money specifically towards equipment (Player Development Fund) or training facilities (Facility Development Fund)?

    Already in place:

    http://www.melbournefc.com.au/red%20and%20blue%20foundation/tabid/7496/default.aspx

    & I believe it's tax deductable...

    Yeah exactly. However, to avoid us ever going into debt again. Maybe only accessible if we faced trading at a loss and aims to avoid borrowings.

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      On 26/11/2010 at 04:37, E25 said:

    You mean like the Red & Blue Foundation for money specifically towards equipment (Player Development Fund) or training facilities (Facility Development Fund)?

    Already in place:

    http://www.melbournefc.com.au/red%20and%20blue%20foundation/tabid/7496/default.aspx

    & I believe it's tax deductable...

    Yep, this is probably the closest the club has to a perpetual donation stream. It has been engineered constructively around club operations rather than just a continual begging of money though which it sounds like Richmond may be accused of down the track. I thought this had the same online payment scheme as DD though and wasn't this once an option when renewing membership? Either way I think the donation form is cumbersome - there should be a real time option via verisign or whatever it is for one off payments and perhaps could be advertised a little more on the website.

    I like the range of memberhsip add ons now although the 'My Melbourne Football Club Account Manager' is pretty ordinary IMO.

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    The account manager does need a bit of work.

    Took me ages to renew my membership, get the heartland packages and find the Before the Bounce option all in one go.

    Ended up just doing separate transactions for each.

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    Once again, we're delving into the realm of "good debt" and "bad debt".

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      On 26/11/2010 at 05:29, Nasher said:

    I only keep bringing it up because I'm not sure everyone can tell the difference.

    Good Debt is not Debt, its a continuation of Cash Flow which is Fine. "You gotta spend money to make money" if you keep spending when your cash flow dries up, that is Bad Debt, because the interest will increase daily and kill you which is what was happening 2-3 years ago.

    I never want to get anywhere near that again with this club.

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      On 26/11/2010 at 05:41, why you little said:

    Good Debt is not Debt, its a continuation of Cash Flow which is Fine. "You gotta spend money to make money" if you keep spending when your cash flow dries up, that is Bad Debt, because the interest will increase daily and kill you which is what was happening 2-3 years ago.

    I never want to get anywhere near that again with this club.

    Thanks, you have illustrated my point perfectly.

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      On 26/11/2010 at 06:32, Nasher said:

    Thanks, you have illustrated my point perfectly.

    Debt is the Biggest problem the average person knows nothing about!! This stuff should be taught in schools as much as English.

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    Gold Nasher.

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      On 26/11/2010 at 03:28, E25 said:

    Anyway, personally, I think most clubs would struggle asking for charity once the club is no longer in debt.

    I managed to find spare cash for the Debt Demolition, but it's not something I can continue to do.

    I'll support the club, but I can't justify large donations when it is now safe and should be earning a profit in its own right.

    Agree. You cant keep going to the well. The Club must stand on its own feet and not live on gratuities from generous supporters.

      On 26/11/2010 at 06:32, Nasher said:

    Thanks, you have illustrated my point perfectly.

    Indeed.

      On 26/11/2010 at 06:36, why you little said:

    Debt is the Biggest problem the average person knows nothing about!!

    Proof positive. B)

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      On 26/11/2010 at 09:39, Rhino Richards said:

    Agree. You cant keep going to the well. The Club must stand on its own feet and not live on gratuities from generous supporters.

    Indeed.

    Proof positive. B)

    But of course you know everything about everything don't you Rhino....i almost forgot. B)

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    We can't forget that from 2013? we own 92 pokie machines outright. Which means (from memory) returns of $157,000 on each machine. Thats roughly over $14,000,000 that will be coming into the club per year.

    In the past we were only making $2,000,000 per year on pokies when shared with Tatts & Tabcorp.

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      On 26/11/2010 at 10:17, Dreamin said:

    We can't forget that from 2013? we own 92 pokie machines outright. Which means (from memory) returns of $157,000 on each machine. Thats roughly over $14,000,000 that will be coming into the club per year.

    In the past we were only making $2,000,000 per year on pokies when shared with Tatts & Tabcorp.

    That will Help for sure. I think i heard last week that over $75 Million went through the Filth in the last 12 months. That is what we are up against. Now i do not advocate we need $75 Million to pass through our club, as long as we aim for the same Profit Margins.

    Big is not always better, but to compete with these Giants & Beat them we still need the same resources within our club-and that means very Prudent Management.

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