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Port Adelaide $2 Mill in debt

Sir Why You Little

By Sir Why You Little
in Melbourne Demons

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DeeZee
DeeZee

Doesn't say much for Kochies business expertise.

drdrake
drdrake

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 fi

Sambo06
Sambo06

Both Crows and Port now own their own Liscence. Both Clubs paid Millions to take back ownership from the SANFL. This one off huge cost would be factored into any financials for the past year. Both Clu

old dee Legend

old dee   23,482

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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?

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Sir Why You Little Legend

Sir Why You Little   36,587

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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??

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poita Redleg

poita   3,874

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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.

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drdrake Redleg

drdrake   3,117

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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

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Sir Why You Little Legend

Sir Why You Little   36,587

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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
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Rod Grinter Riot Squad Redleg

Rod Grinter Riot Squad   5,654

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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.

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Moonshadow Legend

Moonshadow   17,470

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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 by Moonshadow
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Machsy Redleg

Machsy   2,858

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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.

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beelzebub Legend

beelzebub   23,192

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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.

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rpfc Legend

rpfc   28,045

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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.

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Maldonboy38 Redleg

Maldonboy38   6,379

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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.

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Sir Why You Little Legend

Sir Why You Little   36,587

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$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.

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Qwerty30 Demon

Qwerty30   196

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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 by Qwerty30
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