Carlton's Mind Boggling $10m Debt

[Red N Blue Society 165]

How is it that Carlscum manage to keep all these players of Judd, Murphy, Kreuzer, Warnock within the salary cap yet are ten million dollars in debt or therabouts...TEN MILLION!

Why is it that North, the Dogs and us have been picked on by the media in the past about a much lower debt?

Who has been 10 Mill in debt before? Fitzroy maybe?

Carlscum go sailing in year after year, & buy all these players & pokie machines and investments and are darlings of the AFL continuously...

"Ohh no Carlton cant do anything wrong"...."They have done their hard yards after salary cap breaches they say "!!!

"Its good for the Blues to be good"  For who..... the AFL!!!

They get away with this huge financial crisis in the media.The arrogance stinks..

To all you media outlets that continuously sweep the Blues debt & issues under the rug you are a discrace.

Start printing the fact that Carlton behind the scenes are run by tools with an open check book that doesnt actually exist..and always have.

You cant roll $$$ under the table as much as you used to Carlscum!....you will be found out like every other club.

Are the AFL going to step in here and have AFL people within the ranks at Carlton unitl they get it right financially like they did with several clubs who stuffed up financially!

How can a club run into 10 million debt and how can they function?? How?

 

So much for your money Pratt....where did it all go mate? I wonder.

Buy your way out of debt Blues! You do it so well & have done it for so long why change!

 

I cant wait for the Demons to beat your pretentious mob..

 

Go Demons!

[Sir Why You Little 37,241]

Bruce Mathieson & Visy Board keep Carlscum alive....They maybe in debt, but they could be out of it within 10 minutes...

I am sure it is a fantastic Tax Break for some rollers..

Footscray & Nought Melbourne have no one of signifigance in the shadows...

[Red N Blue Society 165]

Cheers Why you little,

Yeah,I dont care for any other clubs I just think its poor that they dump on the poor clubs when they are in trouble.

As much as I cant tand Nth or their moronic president they do cop it...but thats what happens without support I suppose..

I am hearing briefly Southern China Airlines as a Dees sponsor this morning on MMM.

Have you heard any of this mate?

[Sir Why You Little 37,241]

Heard as much as you have re sponsor....i am waiting for our CEO to twitter something...he is fairly active on that site...

[Jack Jack 415]

It's a bit hard to judge an entity on liabilities alone. We've done extremely well reducing our debt (even though we've recently taken on more with the Bentleigh Club merger) but we've got virtually a non-existent asset base (somewhat larger now with the merger).

The real worry by the looks of those figures is Brisbane. If they have another loss this year they may find themselves with negative net assets.

[Longsufferingnomore 1,653]

It's a bit hard to judge an entity on liabilities alone. We've done extremely well reducing our debt (even though we've recently taken on more with the Bentleigh Club merger) but we've got virtually a non-existent asset base (somewhat larger now with the merger).

The real worry by the looks of those figures is Brisbane. If they have another loss this year they may find themselves with negative net assets.

no dont worry our superhero at AFL HQ will bail them out. Couldn't let an insterstate team go bust!

[Sir Why You Little 37,241]

The only worry Carlscum have at the moment is being tied to playing home games at the Docklands. That stadium is a financial disaster to all but the shareholders.

Heard a whisper that Collins is retiring soon.

Will be waiting to see if it is correct.

[Jack Jack 415]

The only worry Carlscum have at the moment is being tied to playing home games at the Docklands. That stadium is a financial disaster to all but the shareholders.

Heard a whisper that Collins is retiring soon.

Will be waiting to see if it is correct.

It's no rumour.

Collins calls it a day.

[Sir Why You Little 37,241]

It's no rumour.

Collins calls it a day.

Thanks. It will be a very important new appointment. That sh!tbox stadium is going to send clubs to the wall unless new structures are not drawn up.

Such a great idea to get rid of all the home grounds. I mean look at Geelong!!

[praha 11,240]

Debt isn't always bad. It's when you're in debt without many assets, like Melbourne was, that is bad.

Carlton has many an asset, a large supporter base, a great franchise player in Judd, great facilities and a great brand.

They'll be fine. Focus on your own club.

[Jack Jack 415]

I was just looking at some previous years financial reports. It's remarkable how far we've come in a few short years.

At the end of '08 our liabilities outweighed our assets by close to $4 million. Now we have net assets of $6 million. That's a $10 million turnaround in 3 years.

[1858 285]

Well of course the interesting thing for Carlton is that $6.3mill of their debt is current. No doubt they'll grovel to Westpac as with previous years. The AFL's guarantee for this debt facility expires in October at which point they'll make a new guarantee I'd imagine. So all in all they'll "manage" it but they have fixed and floating charges over their assets, no doubt some debt covenants placed on them and also a bigger risk to lenders so their cost of credit will be much higher for future projects unless Westpac give them more rope.