Port Adelaide $2 Mill in debt

[Sir Why You Little 37,242]

Port Adelaide $2 Mill in debt from this years venture. The Crows just broke even.

This competition will die if greedy bastards keep pushing for their own gains.

Was this Vlad's last legacy or Gill's first?

[old dee 23,927]

Port Adelaide $2 Mill in debt from this years venture. The Crows just broke even.

This competition will die if greedy bastards keep pushing for their own gains.

Was this Vlad's last legacy or Gill's first?

Astounding to say the least a kick away from the GF, 50+ members and full houses at games!

They are saying the result of a poor deal at Adelaide oval!!!

This was meant to be the saviour of the Power.

What gives?

[Sir Why You Little 37,242]

Yes the same was said for The Docklands. What a total joke.

Bring back the Home Grounds otherwise there will be no clubs.

Port Adelaide 55,000 members. Sold out Games

$2 Mill in the red.

Who held a gun to their head to sign up to that rubbish??

[Moonshadow 17,678]

I believe Brisbane are around $12 million in debt. If that happened to us we'd fold for sure.

[DeeZee 7,445]

Doesn't say much for Kochies business expertise.

[Demon Disciple 12,315]

Doesn't say much for Kochies business expertise.

Nor CEO Keith Thomas's

[poita 3,902]

Doesn't say much for Kochies business expertise.

What's he supposed to do? You can only play at AFL approved venues. Presumably there is only of those in South Australia.

As much as we'd like to believe that the clubs control their own destiny, ultimately the clubs play where the AFL tells them to. Once again the clubs (and by extension the fans) get screwed over by the AFL and its cronies.

[Jarka 767]

Doesn't say much for Kochies business expertise.

Kochie negotiated the new stadium deal, incredible that they can be in this position after everything we learned from The Docklands debacle

[drdrake 3,187]

Are we talking in Debt or Financial year losses? Every club would have a debt of some sort, 2mil for an organisation that size isn't a massive debt but if you are talking about 2mil loss from last financial year after the numbers they had is a worry

[Sir Why You Little 37,242]

Are we talking in Debt or Financial year losses? Every club would have a debt of some sort, 2mil for an organisation that size isn't a massive debt but if you are talking about 2mil loss from last financial year after the numbers they had is a worry

Posting a $2 Mill loss on this year according to the Aged article

[Grand New Flag 3,227]

This one is all Koshie's.

[chook fowler 19,675]

Let them fold and we'll take Wines to where he belongs.

[Bitter but optimistic 22,289]

I believe Brisbane are around $12 million in debt. If that happened to us we'd fold for sure.

That seems an extraordinary amount Moon! That would just about require AFL administration.

[binman 44,215]

Let them fold and we'll take Wines to where he belongs.

Don't want him. The Toump will suffice.

[Rod Grinter Riot Squad 5,654]

This one is all Koshie's.

Port Adelaide did not want to sign up to the stadium agreement but we're forced to by Vlad. They only agreed to a 1 year deal (with a gun to their head) as they knew they were being screwed and knew the deal would have to be renegotiated.

[Moonshadow 17,678]

That seems an extraordinary amount Moon! That would just about require AFL administration.

It was $10 mill mid year. Expected to be $12 mill by year's end.

http://m.couriermail.com.au/sport/afl/new-brisbane-lions-chief-executive-greg-swann-wants-to-restore-the-lions-roar/story-fnia3y5g-1227000704906?nk=b019b562bfe6d2cb56ee1c8e51ba57fa

Edited November 13, 2014 by Moonshadow

[Machsy 2,858]

I thought the SANFL had a large (and conflicted) hand to play in signing this deal, before the AFL managed to negotiate ownership of the Port & Crows licenses, no?

I think there are a few clever and devious men making a lot of money off this deal.

Not unlike what goes on here in Victoria, mind you.

[beelzebub 23,388]

Astounding to say the least a kick away from the GF, 50+ members and full houses at games!

They are saying the result of a poor deal at Adelaide oval!!!

This was meant to be the saviour of the Power.

What gives?

a very poor gate sharing situation for the crows and port currently Old.

[Straight Sets Simon 23,113]

Replace the word "debt" with "loss". I'd imagine their debt is much bigger.

[rpfc 28,843]

Yeah, it's way worse than you think it is, wyl.

One equalisation measure is that gate receipts from all clubs go in a pool to be shared equally.

Just putting that out there.

Doesn't solve the issue, bug it would affect more than one club, and all the clubs would reap. The benefits of the AFLs obsession with crowd numbers.

[Nasher 33,617]

$2mil in debt is SFA. I'm $500k in debt all on my own, but my life is pretty comfortable. WYL showing he doesn't understand the difference between debt and an operating loss, and not for the first frustrating time.

[Maldonboy38 6,406]

If "in debt" means operating with an ongoing debt, then it all depends if the debt is manageable. Anyone with a mortgage is "in debt", but the debt is (hopefully) decreasing over a 20 - 30 year period: it is manageable debt. It doesn't sound too bad to me.

However, if the Crows and Power have walked open-faced into a poor financial deal with the new stadium, there should be hell to pay from their fans and from the AFL.

[Sir Why You Little 37,242]

$2mil in debt is SFA. I'm $500k in debt all on my own, but my life is pretty comfortable. WYL showing he doesn't understand the difference between debt and an operating loss, and not for the first frustrating time.

With 55,000 members and a full stadium each home game i think it is extremely worrying that a club makes a $2 Mill loss.

That was the whole reason for leaving AAMI

Operating loss indeed.

[Qwerty30 196]

With 55,000 members and a full stadium each home game i think it is extremely worrying that a club makes a $2 Mill loss.

.

I agree. It's especially worrying when you don't have facts at hand to determine why the operating loss and you have to make things up. Edited November 13, 2014 by Qwerty30

[Sir Why You Little 37,242]

I agree. It's especially worrying when you don't have facts at hand to determine why the operating loss and you have to make things up.

Who is making things up?