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What is Melbourne's $ Debt

Cranky Franky

By Cranky Franky
in Melbourne Demons

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Biffen Legend

Biffen   12,380

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We don't owe them anything Franky.

We invented the game and gave them the venue .

 

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Whispering_Jack Legend

Whispering_Jack   28,024

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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.

 

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Sir Why You Little Legend

Sir Why You Little   34,700

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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.

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Its Time for Another Redleg

Its Time for Another   4,054

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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.

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The Great Pretender Mighty Demon

The Great Pretender   430

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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.

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Satyriconhome Trident

Satyriconhome   9,993

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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

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faultydet Redleg

faultydet   7,593

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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.

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jnrmac Legend

jnrmac   19,205

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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..... 

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mauriesy Redleg

mauriesy   6,827

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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.

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Dr. Gonzo Legend

Dr. Gonzo   22,540

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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

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La Dee-vina Comedia Legend

La Dee-vina Comedia   16,501

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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.

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george_on_the_outer Redleg

george_on_the_outer   7,028

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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.

 

 

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DistrACTION Jackson Redleg

DistrACTION Jackson   6,503

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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.

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Roost It Redleg

Roost It   1,434

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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

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