2019 Financial Hit

[Demonland 72,217]

 

[Rab D Nesbitt 8,369]

Is this what actually constitutes a story these days? Three or four unrelated facts cobbled together under the headline of an unspecified current year financial loss. At this rate my thirty free monthly online articles will be gone in no time. 

[Demonstone 22,569]

Just now, Rab D Nesbitt said:

Three or four unrelated facts cobbled together

Let the cobblers cobble?

[Mickey 4,684]

It's just a write up of what was said at the fan forum. 

[Rab D Nesbitt 8,369]

9 minutes ago, demonstone said:

Let the cobblers cobble?

Anyone serving up this load of cobblers deserves the boot. 

[In Harmes Way 7,792]

No mention of walking away from pokies revenues, which I think the club should actually be applauded for. Its a bit like climate change - do nothing and you’re part of the problem.  
 

This year I’m hoping better performances and improved crowd numbers, coupled with both QB and Anzac eve which will help.

Hopefully our membership numbers don’t take too much of a hit, especially given my belief the board were a bit disingenuous last year with their knowledge of injuries in the preseason and no comms tempering expectations.

[markc 975]

nothing new in that article at all 

[george_on_the_outer 7,604]

We can't make too many assumptions until we see the actual accounts, but the statement about the loss being covered by "cash reserves" is something to keep an eye on. 

Since we sold Leighoak, I assume that is the money in those "cash reserves". 

Would the profit from not selling Leighoak have produced the same outcome in 2019?  Let's see.....

[Sir Why You Little 37,046]

31 minutes ago, george_on_the_outer said:

We can't make too many assumptions until we see the actual accounts, but the statement about the loss being covered by "cash reserves" is something to keep an eye on. 

Since we sold Leighoak, I assume that is the money in those "cash reserves". 

Would the profit from not selling Leighoak have produced the same outcome in 2019?  Let's see.....

Yes, interesting...

[deebug 1,754]

New season comming very soon, so we can put this behined us, and never have to read, or speak of 2019 again.

It's time to look forward to 2020?

[Diamond_Jim 12,592]

54 minutes ago, george_on_the_outer said:

We can't make too many assumptions until we see the actual accounts, but the statement about the loss being covered by "cash reserves" is something to keep an eye on. 

Since we sold Leighoak, I assume that is the money in those "cash reserves". 

Would the profit from not selling Leighoak have produced the same outcome in 2019?  Let's see.....

The business mantra since around 1980 is that companies should not own real estate as they should stick to their core business.

Of course most would have made more money by simply holding onto their real estate but you can see the argument.

Is the argument any different for a football club... perhaps

 

[Fritta and Turner 4,428]

I thought we sold Leighoak for ethical reasons.  Companies do not own properties because it is a poor use of capital and like said not core business; there are tax advantages to leasing I believe.

Furthermore a company with too many assests opens itself up to vulture takeover from likes of Bond/Elliott/HolmesaCourt.

Anyway it is MFC policy not to make a profit otherwise AFL will turn off life support?

 

[The Chazz 4,077]

Why/how it was orchestrated to see our two main games (ANZAC Eve and QBD) to be a rotation of all or nothing eery two years is a just terrible management on someone's behalf.

We have two options;

1. Arrange it so we get it that we host one of the marquee games each year (which could mean splitting profits for the next couple of years to make it work)

2. Leave it as is, but look at our P&L over a 2-year period instead

Option 2 is most likely easier, but will not stop the media (and MFCSS sufferers) from reporting the "away" year.  Option 1 would please more people.

Pretty easy fix for Mr Pert I would imagine, especially if they were caring too much about it.

[Bring-Back-Powell 14,846]

24 minutes ago, The Chazz said:

Why/how it was orchestrated to see our two main games (ANZAC Eve and QBD) to be a rotation of all or nothing eery two years is a just terrible management on someone's behalf.

 

I thought it would've been wise to have Collingwood host QBD again in 2020. That way in 2021 going forward we'd always have 1 home marquee game per year.

With respect to the loss, we missed a massive opportunity to draw big crowds in our August MCG home games against Richmond (sat night), Collingwood (sat arvo) and Sydney (fri night). The club would've budgeted for an accumulated crowd of 150,000, but got a pathetic 90,000.