Jump to content

What is Melbourne's $ Debt

Cranky Franky
Cranky Franky
in Melbourne Demons

Featured Replies

Posted

Among all the information the Club provided this year I could not find what the amount of actual debt was ie how much do we still owe.

Can any Demonlanders enlighten me.

  • Quote
    •  

    We don't owe them anything Franky.

    We invented the game and gave them the venue .

     

  • Quote
    33 minutes ago, Cranky Franky said:

    Among all the information the Club provided this year I could not find what the amount of actual debt was ie how much do we still owe.

    Can any Demonlanders enlighten me.

    It is sitting at about $4.7 million at the moment

  • Quote
    •  
    20 minutes ago, red and blue forever said:

    It is sitting at about $4.7 million at the moment

    What was the Bentleigh Club valued at???

  • Quote

     

    4 minutes ago, Demon Disciple said:

    What was the Bentleigh Club valued at???

    Whatever value is attributed to the Bentleigh Club in the books (most likely the historic value at acquisition which would be relatively low), you can be pretty sure that on today's market it's worth a poultice and in reality would far exceed our debt.

     

  • Quote
    1 minute ago, Whispering_Jack said:

     

    Whatever value is attributed to the Bentleigh Club in the books (most likely the historic value at acquisition which would be relatively low), you can be pretty sure that on today's market is worth a poultice.

     

    It was a good buy..Bentleigh has skyrocketed over the last 5 years.

  • Quote
    6 minutes ago, Whispering_Jack said:

     

    Whatever value is attributed to the Bentleigh Club in the books (most likely the historic value at acquisition which would be relatively low), you can be pretty sure that on today's market it's worth a poultice and in reality would far exceed our debt.

     

    From memory it was valued at around $8mill when we acquired it and it had a debt of around $4mill. The value remains on the books as what it was when it was bought.

    By the end of next year when the pokies debt should be cleared the future of the Bentleigh Club is probably going to be the next big project for PJ to finalise to set up the future of the Club.

  • Quote
    •  
    3 minutes ago, It's Time said:

    From memory it was valued at around $8mill when we acquired it and it had a debt of around $4mill. The value remains on the books as what it was when it was bought.

    By the end of next year when the pokies debt should be cleared the future of the Bentleigh Club is probably going to be the next big project for PJ to finalise to set up the future of the Club.

    But for this we have to thank the likes of Joe Gutnick and Cameron Schwab, two largely maligned figures in some circles, for their foresight and great understanding of the commercial benefits of the Bentleigh Club venture.

  • Quote
    29 minutes ago, Whispering_Jack said:

     

    Whatever value is attributed to the Bentleigh Club in the books (most likely the historic value at acquisition which would be relatively low), you can be pretty sure that on today's market it's worth a poultice and in reality would far exceed our debt.

     

    I'll let you ask the question at the AGM WJ

  • Quote

    2 hours ago, george_on_the_outer said:

    We probably don't want a re-valuation on the Bentleigh club....yet. 

    While we are the beneficiary of equalisation money from the AFL, it doesn't look good to be making a sizable profit, even though it is a paper one.

    Some intelligent people here on 'Land.

  • Quote
    4 hours ago, Whispering_Jack said:

     

    Whatever value is attributed to the Bentleigh Club in the books (most likely the historic value at acquisition which would be relatively low), you can be pretty sure that on today's market it's worth a poultice and in reality would far exceed our debt.

     

    I have wanted to buy a poultice..... 

  • Quote
    45 minutes ago, jnrmac said:

    I have wanted to buy a poultice..... 

    Luckier than me Jnr - I can't afford one at current market prices

  • Quote
    4 hours ago, george_on_the_outer said:

    We probably don't want a re-valuation on the Bentleigh club....yet. 

    While we are the beneficiary of equalisation money from the AFL, it doesn't look good to be making a sizable profit, even though it is a paper one.

    It wouldn't make any difference at all to our operating profit. It would however make a large difference to the balance sheet.

  • Quote

    4 hours ago, george_on_the_outer said:

    We probably don't want a re-valuation on the Bentleigh club....yet. 

    While we are the beneficiary of equalisation money from the AFL, it doesn't look good to be making a sizable profit, even though it is a paper one.

     

    36 minutes ago, mauriesy said:

    It wouldn't make any difference at all to our operating profit. It would however make a large difference to the balance sheet.

    Correct - don't think it will make much difference to the Saints

    St Kilda Football Club has delivered an operating profit of $150,589 for the 2016 financial year before grant funding revenue, depreciation, amortisation and interest, and an overall accounting net profit of $1,107,311

    Included within the accounting net profit is Moorabbin Reserve grant funding and additional depreciation of the Seaford premises due to the expected relocation to Moorabbin.

    http://m.saints.com.au/news/2016-11-29/st-kilda-announces-2016-financial-result

  • Quote

    If the value of the Bentleigh Club is in its pokies business (and it might not be - the land might be more valuable), the club will be waiting on a State Government decision as to the future of those pokies. The club (along with all other pokies venues) owns the rights to those pokies only up until 2022. Until the Government decides what to do post-2022, those pokies may have a very limited value and therefore the Bentleigh Club's value may be temporarily depressed.

  • Quote
    12 hours ago, Dr. Gonzo said:

     

    Correct - don't think it will make much difference to the Saints

    St Kilda Football Club has delivered an operating profit of $150,589 for the 2016 financial year before grant funding revenue, depreciation, amortisation and interest, and an overall accounting net profit of $1,107,311

    Included within the accounting net profit is Moorabbin Reserve grant funding and additional depreciation of the Seaford premises due to the expected relocation to Moorabbin.

    http://m.saints.com.au/news/2016-11-29/st-kilda-announces-2016-financial-result

    The Saints are still in dire straits.

    $17.1 M in AFL distributions (  biggest amount outside GWS and GC )

    A $5M grant to relocate to Moorabbin.  (Then they've had to write off  $4M or so on the Seaford venture, with probably more to come.) That accounts for their $1.1M "profit" this year.

    With a $3.2M commercial bill due to be repaid by the end of 2017.

     

     

  • Quote

    Probably the most important aspect of our debt is what portion is funding income generating assets compared to non-income generating.

    With interest rates at all time lows it is a great time to be investing in projects that can generate an income for the club.

  • Quote

    Melbournes debt is to its supporters for being [censored] for so long. If Hogan does his knee they should take the club behind the garden shed and do the right thing by everyone

  • Quote
    17 minutes ago, Roost It said:

    Melbournes debt is to its supporters for being [censored] for so long. If Hogan does his knee they should take the club behind the garden shed and do the right thing by everyone

    Lol cant be serious , right ? 

  • Quote
    25 minutes ago, old demon me!!! said:

    Lol cant be serious , right ? 

    Why wouldn't I be serious?

  • Quote
    •  

    According to a local real estate agent the Bentleigh site could be worth around $20m. If you measure that against a debt of under $5m, we are traveling along quite nicely on the finance front. 

  • Quote
    15 hours ago, Roost It said:

    Why wouldn't I be serious?

    You dont base everything on one blokes knee !!!! shite happens,dint even think about that happening.  

  • Quote

    • Archived

    This topic is now archived and is closed to further replies.

    Go to topic listing

    Featured Content

    • PREGAME: Essendon

      Facing the very real and daunting prospect of starting the season with five straight losses, the Demons head to South Australia for the annual Gather Round, where they’ll take on the Bombers in search of their first win of the year. Who comes in, and who comes out?

        • Like
      • 77 replies
      Demonland
      Demonland

    • NON-MFC: Round 04

      Round 4 kicks off with a blockbuster on Thursday night as traditional rivals Collingwood and Carlton clash at the MCG, with the Magpies looking to assert themselves as early-season contenders and the Blues seeking their first win of the season. Saturday opens with Gold Coast hosting Adelaide, a key test for the Suns as they aim to back up their big win last week, while the Crows will be looking to keep their perfect record intact. Reigning wooden spooners Richmond have the daunting task of facing reigning premiers Brisbane at the ‘G and the Lions will be eager to reaffirm their premiership credentials after a patchy start. Saturday night sees North Melbourne take on Sydney at Marvel Stadium, with the Swans looking to build on their first win of the season last week against a rebuilding Roos outfit. Sunday’s action begins with GWS hosting West Coast at ENGIE Stadium, a game that could get ugly very early for the visitors. Port Adelaide vs St Kilda at Adelaide Oval looms as a interesting clash, with both clubs form being very hard to read. The round wraps up with Fremantle taking on the Western Bulldogs at Optus Stadium in what could be a fierce contest between two sides with top-eight ambitions. Who are you tipping this week and what are the best results for the Demons besides us winning?

        • Love
        • Thanks
      • 218 replies
      Demonland
      Demonland

    • PODCAST: Geelong

      The Demonland Podcast will air LIVE on Monday, 7th April @ the all new time of 8:00pm. Join Binman, George & I as we dissect another Demons loss at Kardinia Park to the Cats in the Round 04. Your questions and comments are a huge part of our podcast so please post anything you want to ask or say below and we'll give you a shout out on the show. If you would like to leave us a voicemail please call 03 9016 3666 and don't worry no body answers so you don't have to talk to a human.

        • Like
      • 26 replies
      Demonland
      Demonland

    • VOTES: Geelong

      Captain Max Gawn leads the Demonland Player of the Year in his quest to take out his 3rd trophy. He leads Christian Petracca and Clayton Oliver who are in equal 2nd place followed by Kade Chandler and Jake Bowey. You votes please. 6, 5, 4, 3, 2 & 1.

        • Like
      • 27 replies
      Demonland
      Demonland

    • POSTGAME: Geelong

      The Demons have slumped to their worst start to a season since 2012, falling to 0–4 after a more spirited showing against the Cats at Kardinia Park. Despite the improved effort, they went down by 39 points, and the road ahead is looking increasingly grim.

        • Sad
        • Clap
        • Like
      • 268 replies
      Demonland
      Demonland

    • GAMEDAY: Geelong

      It's Game Day, and reinforcements are finally arriving for the Demons—but will it be too little, too late? They're heading down the freeway to face a Cats side returning home to their fortress after two straight losses, desperate to reignite their own season. Can the Demons breathe new life into their campaign, or will it slip even further from their grasp?

        • Like
      • 683 replies
      Demonland
      Demonland
    View All