$500K Profit for Dees in 2015

[Sir Why You Little 37,046]

Good question.

It does come down to the role that the board fulfills and the role that admin. fulfills.

Ultimately the board's role is oversight (though in Jim's case he was also the football manager). Quite clearly, our administration (CEO) had gone rogue in 2010-2011 and it is at that point the board DID need to intervene. Quite clearly the intervention, when it came in the form of CS's sacking pre 186, came about when things had basically become irretrievable. This was shown by the fact that 186 occurred that very afternoon.

It's hard to say as perhaps Don was trying to help out but the very real fact was that at the time, Jimmy was president. It wasn't until that moment that most of us realized that he shouldn't have been taking on the workload that he had and moves were put in place to ease the burden on him (and eventually hand the presidency over to Don).

The facts are, and you do make a valid point here, that Glen Bartlett doesn't do as much work as PJ. That being said, his job is not to run the club on a day to day basis. His job is to provide oversight in regards to the running of the club. He and the board are the 'gatekeepers' so to speak. If PJ all of a sudden bought a toupee that gave him a mighty coiffure homme hairstyle, started wearing smart guy glasses, got himself a sleeve tattoo and started a weblog called '[censored] off Friday' where he spent all of his time outlining how brilliant the direction the club is heading is, it would be up to GB to pull the pin. I would be confident nonetheless that having a healthy Glenn Bartlett there to make that decision would be much more preferable than an unhealthy GB who could only be at the club sporadically and one who has larger battles to consider that keep him away from the coal face of the club.

The second issue is that with a lot of the key posts at the club being held by ex players and especially Hollywood Boulevarde types, something that Jimmy was big on, it was always going to be difficult to cull non performing parties without a lot of hurt feelings. It was a big reason why Chris Connolly was ultimately moved sideways as Garry Lyon was never going to sack one of his best mates outright. That is sadly something that Jimmy is responsible for.

We will never know for the time being how GB would react if he were in the same position Jimma was due to the very fact that the administrative side of the football club doesn't cause him any grief.

Jimmy's heart was in the right place I think but I believe the decision for him to stay on as president in hindsight wasn't the right one when one considers what was going on at the club at the time.

we agree in principal Colin

Let's just say our previous CEO over stayed his welcome by about 2 years (possibly 3) rather than being the Rock who knows how to run many departments when the honoury Presidents health is ailing

The lesson here is to not employ your mates to do a job. Unless they are outstanding in the position.

If Bartlett took ill i doubt the club would implode

and i mean no insult to Glenn

PJ is a real CEO

CS was/is a dreamer...

[Lucifers Hero 39,870]

Richmond had 70,000 members last year vs our 36,000 yet made the same $500k profit!!!

Go figure!

http://www.theage.com.au/afl/afl-news/richmond-tigers-record-500000-profit-20151112-gkxopx.html

That is at least $6mill more membership revenue than mfc.

So, $500k profit from a so called 'power' club is very paltry indeed.

Just shows how great our $500k profit achievement really is.

[The Chazz 4,077]

I'm amazed that members of the "Boycott the Northern Territory Deal" club haven't been more vocal in this thread.

[Guest]

we agree in principal Colin

Let's just say our previous CEO over stayed his welcome by about 2 years (possibly 3) rather than being the Rock who knows how to run many departments when the honoury Presidents health is ailing

The lesson here is to not employ your mates to do a job. Unless they are outstanding in the position.

If Bartlett took ill i doubt the club would implode

and i mean no insult to Glenn

PJ is a real CEO

CS was/is a dreamer...

I'll leave this here as we are talking about our profit but if Bartlett took ill, I would hope that he would stand down to allow a president who could give the job his all without any further encumbrances to consider.

You are correct in that at the moment, the club wouldn't fall to pieces if GB fell ill as it would appear that PJ needs a minimum of supervision. However, that layer of accountability always need be present.

[jnrmac 20,097]

Richmond had 70,000 members last year vs our 36,000 yet made the same $500k profit!!!

Go figure!

http://www.theage.com.au/afl/afl-news/richmond-tigers-record-500000-profit-20151112-gkxopx.html

That is at least $6mill more membership revenue than mfc.

So, $500k profit from a so called 'power' club is very paltry indeed.

Just shows how great our $500k profit achievement really is.

Was about to post exactly the same thing. Great minds!

Its a great result and someone (don't expect it to be Caro) should be pointing it out!!

Not that we get much coverage. Noticed in the HS today we didn't get a mention despite owning the city yesterday with our logo launch an dkick to kick!

[jnrmac 20,097]

I'm amazed that members of the "Boycott the Northern Territory Deal" club haven't been more vocal in this thread.

Its a great deal. We just need a bye after Darwin thats all....

[The Stigga 1,094]

I'm amazed that members of the "Boycott the Northern Territory Deal" club haven't been more vocal in this thread.

Yeah, that's fine, the territory deal has kept us in the black, i get that and it's good thing of course for our bottom line.

But it does us absolutely no good in terms of increasing our chances of success onfield, nor does it deliver any subsidiary income other than a substantial cheque.

Edited November 13, 2015 by The Stigga

[Middymalt 244]

Richmond had 70,000 members last year vs our 36,000 yet made the same $500k profit!!!

Go figure!

http://www.theage.com.au/afl/afl-news/richmond-tigers-record-500000-profit-20151112-gkxopx.html

That is at least $6mill more membership revenue than mfc.

So, $500k profit from a so called 'power' club is very paltry indeed.

Just shows how great our $500k profit achievement really is.

They probably spent 3 mill more in there FD. and just because they have 70,000 members

doesn't mean 45,000 aren't. Junior members.

Edited November 13, 2015 by Middymalt

[H_T 3,048]

But it does us absolutely no good in terms of increasing our chances of success onfield, nor does it deliver any subsidiary income other than a substantial cheque.

If the fixtures - (Alice Springs & Darwin) help net a sponsor (NT), increase membership and expose our club to the Top End & nationally - it has to do some good to the bottom line and increasing chances, other than just the cheque(s).

[Biffen 12,943]

My initial reaction to the good news is TOGA PAAAARTTYYYY!!!!

[Cards13 9,117]

Hawks posted a $3.3m profit... F me the comp is so far out of whack.

[ILLDieADemon 804]

I gave $2500

To debt demolition never ever again.

Pretty sad, all Jimmys hard work and money people donated was for nothing.

Building a War Chest my ass!!

[Guest]

Pretty sad, all Jimmys hard work and money people donated was for nothing.

Building a War Chest my ass!!

I guess the club CEO will always have a pretty impressive desk for time immemorial.

Our did it vacate along with the previous occupant of said office?

[rpfc 28,483]

"By last year the club's debt – famously eliminated by the Jim Stynes-Don McLardy-driven foundation heroes campaign – had swelled back to more than $5 million" (C Wilson).

Isn't it time once and for all that we lay to rest the myth that the Stynes/McLardy Board eliminated debt and in so doing "saved the Club"? This myth originated with the Club itself, was readily embraced by supporters and continues to be perpetuated uncritically by the likes of Wilson. For the record:

The debt at the point of Stynes’ ascendancy to the Chair was $4.78 million comprising net asset deficiency of $3.179 million as at 31.10.07 plus forecast operating loss for fy08 of $1.6 million.

In the 5 years 2008-2012 according to the audited financial accounts, the Club booked $6.335 million in revenue attributable to the Debt Demolition campaign and its offshoot the “Foundation Heroes” campaign. Almosthalf this amount was p****d up against the wall when the Club recorded a trading loss of $3.1 million in 2013.

In 2011, without fanfare, the Club brought onto the balance sheet the Bentleigh Club asset at a conservative valuation of $6.691 million. The Bentleigh project had its origins in the late 1990s under then CEO Hassa Mann and incoming Chairman Joseph Gutnick. The Bentleigh project was carefully nursed along by successive administrations and Boards (including Stynes') supported by MFC-friendly Bentleigh Club boards on which sat some MFC Club legends. This courtship of 15 years' duration culminated with a formal merger and the incorporation of the Bentleigh assets onto the MFC books. This - not Debt Demolition much of which was shamefully squandered - "eliminated debt".

The Bentleigh asset is today worth in the vicinity 0f $12-15 million as a property development play. It is the family silver. It represents a once in a lifetime opportunity to "football proof" MFC finances if prudently invested in income bearing investments. The Members must remain vigilant wathching for any sign of future Boards or administrations selling off the family silver in pursuit of the discredited strategy of buying a premiership.

Hey hazy...

[ILLDieADemon 804]

Hawks posted a $3.3m profit... F me the comp is so far out of whack.

Collingwood probably made more than that and didn't even make the finals

[Bitter but optimistic 22,241]

Hawks posted a $3.3m profit... F me the comp is so far out of whack.

The "comp" is out of whack but, as to Hawthorn, well money and sponsors want to be associated with success.

If we can even partially emulate that success we'll have profit hanging out of our [censored].

[Cards13 9,117]

The "comp" is out of whack but, as to Hawthorn, well money and sponsors want to be associated with success.

If we can even partially emulate that success we'll have profit hanging out of our [censored].

Agree bitty but ffs 3 flags in a row, they probably spent twice as much on footy spend than us and cashed another $3m in the piggy bank. It just seems so far from where we are at and have been for the last 10 years.

[Bitter but optimistic 22,241]

Agree bitty but ffs 3 flags in a row, they probably spent twice as much on footy spend than us and cashed another $3m in the piggy bank. It just seems so far from where we are at and have been for the last 10 years.

Wonder how much profit we obtained when we did three in a row? Bit shy of 3 mill I reckon!

[Cards13 9,117]

Wonder how much profit we obtained when we did three in a row? Bit shy of 3 mill I reckon!

3 shillings and tuppence?

[Lucifers Hero 39,870]

Here is the official announcement. http://www.melbournefc.com.au/news/2015-11-23/melbourne-announces-financial-profit

Looks like we received an extra $1.2m from the AFL which went straight to Football spending. It went into player development and TPP.

Player development I'm sure we would all agree is a very worthy cause!

2016 will be a big year!

On field for obvious reasons.

Off field we will need to renew AHG and other sponsors and get our membership #'s up.

It will take a leap of faith by sponsors and members to 'sign up' before the on field runs are on the board (ie wins)!

Overall we are tracking well and PJ staying will make a big difference, especially to sponsors.

[beelzebub 23,379]

They couldnt help themselves the good ol Sun....had to throw a backhander Link points to News' version ( no wall )

Melbourne posts $560,000 profit with help of AFL equalisation

Other clubs also received money but lets pick on the Dees. You'd never pick them for a sponsor would you

[beelzebub 23,379]

Here is the official announcement. http://www.melbournefc.com.au/news/2015-11-23/melbourne-announces-financial-profit

Looks like we received an extra $1.2m from the AFL which went straight to Football spending. It went into player development and TPP.

Player development I'm sure we would all agree is a very worthy cause!

2016 will be a big year!

On field for obvious reasons.

Off field we will need to renew AHG and other sponsors and get our membership #'s up.

It will take a leap of faith by sponsors and members to 'sign up' before the on field runs are on the board (ie wins)!

Overall we are tracking well and PJ staying will make a big difference, especially to sponsors.

They have before

[daisycutter 29,616]

They couldnt help themselves the good ol Sun....had to throw a backhander Link points to News' version ( no wall )

Melbourne posts $560,000 profit with help of AFL equalisation

Other clubs also received money but lets pick on the Dees. You'd never pick them for a sponsor would you

well bub, the mfc did highlight the extra $1.2m in the announcement on their own web site

[beelzebub 23,379]

well bub, the mfc did highlight the extra $1.2m in the announcement on their own web site

other teams are getting equalisation funding. Not all turning a nett profit either. It was a dig at us. Totally unnecessary in my view.

[daisycutter 29,616]

other teams are getting equalisation funding. Not all turning a nett profit either. It was a dig at us. Totally unnecessary in my view.

and if they highlight it on their press release they run the risk of the press picking up on it too

i agree the press like sinking the slipper, but in this case we set it up nicely for them by our press release