Financial Issues MFC

[drysdale demon 4,837]

38 minutes ago, faultydet said:

Time to borrow some money and buy a swag of poker machines. Was a moronic virtue signal to get rid of them in the first place.

But it made some "feelings", so there's that I guess.

You have no idea regarding the impact poker machines have had to tens of thousands families. They should of never been introduced.

[layzie 34,338]

Only thing that's going to help us is results at this stage. Members that can help the club thank you, members doing it tough I understand. We just need results.

[Diamond_Jim 12,687]

45 minutes ago, Ethan Tremblay said:

The debt doesn’t mean all that much to me without knowing the debt of all other clubs. 

Collingwood sold off its pokies in 2018 for $12M ... repaid its then debts of $1.6M and invested the balance in what it calls the CFC Future fund. For the 2019 FY it had an operating profit of $6M resulting in a net profit after interest etc of $4M.

North has little long term debt ($650k) but had current liabilities of several million over and above receivables. Mind you this is at end October 2019 so you really need to know their annual cashflows.

It has non current assets (long term leaseholds) values at cost of around $20M (North will almost certainly have a cashflow problem)

The rest are all here if you want to look

http://www.footyindustry.com/?page_id=4982

[Diamond_Jim 12,687]

12 minutes ago, layzie said:

Only thing that's going to help us is results at this stage. Members that can help the club thank you, members doing it tough I understand. We just need results.

that is simplistic....you need sustained results for five plus years and you need them at a time that delivers maximum revenue.

One bad year will easily wipe out four good ones for a club like the MFC

Unfortunately we are just horribly vulnerable to this downturn and without the AFL we would be well and truly insolvent.

[Macca 17,113]

1 hour ago, Cards13 said:

Was going to say the same thing, f k the big clubs they are gifted sweetheart deals on “blockbusters” (Tigs v Blues to start the season) and don’t have to travel to holes like Geelong or Tassie. They want those they have to pony up the cash for the clubs that miss out of the big games and have more travel.

Yep ... and for the past 2 decades we've been 'drawn' to play many of our home games against low drawing interstate teams as well as travelling 6 - 7 times against interstate opposition.

Every season for season after season.

It's any wonder we have been forced to sell off home games to the NT.  Not sure doing that was necessarily our choice either Cards. It was a case of have-to (IMO) to balance the books

Meanwhile,  the big clubs clean up with their version of 'Hand-outs'

[Diamond_Jim 12,687]

1 minute ago, Macca said:

Yep ... and for the past 2 decades we've been 'drawn' to play many of our home games against low drawing interstate teams as well as travelling 6 - 7 times against interstate opposition.

Every season for season after season.

It's any wonder we have been forced to sell off home games to the NT.  Not sure doing that was necessarily our choice either Cards. It was a case of have-to (IMO) to balance the books

Meanwhile,  the big clubs clean up with their version of 'Hand-outs'

the system works well for the AFL and for about ten of the 18 clubs. Unfortunately it wont change.

[layzie 34,338]

10 minutes ago, Diamond_Jim said:

that is simplistic....you need sustained results for five plus years and you need them at a time that delivers maximum revenue.

One bad year will easily wipe out four good ones for a club like the MFC

Unfortunately we are just horribly vulnerable to this downturn and without the AFL we would be well and truly insolvent.

Yeah I know, it is simplistic. And I think  most of us hope we even get another 5 year period to have that crack. I Just feel like we're in this 'one foot in front of the other phase' for the moment. Like most businesses just trying to survive and come out the other end and then try to build it back up again. Still so much uncertainty though.

[Sir Why You Little 37,308]

11 minutes ago, Diamond_Jim said:

the system works well for the AFL and for about ten of the 18 clubs. Unfortunately it wont change.

The only way to change our circumstances is to win games regularly , winners are given exposure 

That is the system and it is why 2019 was so costly

[Dr. Gonzo 24,444]

31 minutes ago, Macca said:

Yep ... and for the past 2 decades we've been 'drawn' to play many of our home games against low drawing interstate teams as well as travelling 6 - 7 times against interstate opposition.

Every season for season after season.

It's any wonder we have been forced to sell off home games to the NT.  Not sure doing that was necessarily our choice either Cards. It was a case of have-to (IMO) to balance the books

Meanwhile,  the big clubs clean up with their version of 'Hand-outs'

We've also got two blockbusters in the fixture, something North, Saints and the Dogs don't

[praha 11,253]

Should be a significant Federal Government bailout imo. How many community programs do pro sports leagues run and invest in? What about the impact they have on hospitality and retail industries? Pro sports stand as a key pillar of successful community and industry growth. The government shut down the league. The government should boot it up again.

[praha 11,253]

1 hour ago, drysdale demon said:

You have no idea regarding the impact poker machines have had to tens of thousands families. They should of never been introduced.

who gives a [censored]? you could say this about quite literally any vice.

get woke go broke.

[Macca 17,113]

27 minutes ago, Diamond_Jim said:

the system works well for the AFL and for about ten of the 18 clubs. Unfortunately it wont change.

No it won't change DJ ... in a general sense the compromised draw is based on how many supporters a club has and by default,  how many of those eyes will tune into prime-time TV. 

It's a commercial decision but ultimately,  it disadvantages the smaller clubs (specifically the 4 smaller Victorian clubs)

It hasn't helped that we've been a poorly performed team for decades and there is a correlation there but the Saints,  Doggies & North have copped it even when they've performed well.  Same deal for us prior to 2007.

So any compensation handed out to disadvantaged clubs is fully deserved (if parity is sought)

[praha 11,253]

43 minutes ago, Diamond_Jim said:

Collingwood sold off its pokies in 2018 for $12M ... repaid its then debts of $1.6M and invested the balance in what it calls the CFC Future fund. For the 2019 FY it had an operating profit of $6M resulting in a net profit after interest etc of $4M.

North has little long term debt ($650k) but had current liabilities of several million over and above receivables. Mind you this is at end October 2019 so you really need to know their annual cashflows.

It has non current assets (long term leaseholds) values at cost of around $20M (North will almost certainly have a cashflow problem)

The rest are all here if you want to look

http://www.footyindustry.com/?page_id=4982

how depressing.

we are stuck in that rough patch between not having enough money to invest/save/grow, and not having enough investment/savings/growth to bring in enough money. The Circle of Doom.

[Macca 17,113]

12 minutes ago, Dr. Gonzo said:

We've also got two blockbusters in the fixture, something North, Saints and the Dogs don't

That's been our doing where as most of the blockbusters previously were handed out without too much fuss. 

We are a long way behind despite PJ's terrific work in that area.

Collingwood especially have been given a dream run for decades.

It's not crying poor either ... more so stating the bleeding obvious.

Edited May 30, 2020 by Macca

[Dr. Gonzo 24,444]

2 minutes ago, Macca said:

No it won't change DJ ... in a general sense the compromised draw is based on how many supporters a club has and by default,  how many of those eyes will tune into prime-time TV. 

It's a commercial decision but ultimately,  it disadvantages the smaller clubs (specifically the 4 smaller Victorian clubs)

It hasn't helped that we've been a poorly performed team for decades and there is a correlation there but the Saints,  Doggies & North have copped it even when they've performed well.  Same deal for us prior to 2007.

So any compensation handed out to disadvantaged clubs is fully deserved (if parity is sought)

Clubs should insist on a revenue sharing model if the AFL insists on revenue maximisation policies that favour some clubs over others. The big clubs want their cake and eat it too and the AFL plays along. The small clubs don't speak out because they're reliant on the whims of the AFL. They've had decades to raise a protest and do something about it but they've refused. If they don't stand up for themselves now they never will.

[Dr. Gonzo 24,444]

1 minute ago, Macca said:

That's been our doing where as most of the blockbusters previously were handed out without too much fuss. 

We are a long way behind despite PJ's terrific work in that area.

Collingwood especially have been given dream run for decades.

It's not crying poor either ... more so stating the bleeding obvious.

Our doing? Collingwood basically let us have the queen's birthday game as a home game for 20 years.

I don't disagree with you but other clubs have it just as bad or worse than us. Something needs to be done about the AFLs unfair policies that discriminate against the smaller clubs. I've thought this for 20 odd years, but multiple MFC administration's have not wanted to rock the boat, the last one who stood up for us was Gutnick. I don't want to get back into the politics around his administration but the fact is we've kowtowed to the AFL and the big clubs for 20-30 years. To expect them to turn around and do "the right thing" by us now that the competition is facing an economic crisis is fanciful. It's going to be every club for themselves for the next few years.

[drysdale demon 4,837]

Just now, praha said:

who gives a [censored]? you could say this about quite literally any vice.

get woke go broke.

That's a silly and ignorant thing to say.

I spent 4 years with the Salvation Army Major in charge of Southern Australia, their financial advisor and 2 Psychologists from Gamblers' Help assisting problem gamblers. Poker machines account for over 80% of problem gamblers, I have seen the damage they cause.

You may not care but fortunately some people do.

[Dr. Gonzo 24,444]

1 minute ago, drysdale demon said:

That's a silly and ignorant thing to say.

I spent 4 years with the Salvation Army Major in charge of Southern Australia, their financial advisor and 2 Psychologists from Gamblers' Help assisting problem gamblers. Poker machines account for over 80% of problem gamblers, I have seen the damage they cause.

You may not care but fortunately some people do.

So what? MFC sells off our licenses and the machines don't disappear. It just means instead of the money going to us it goes into Bruce Mathiesons or Wesfarmers hands.

If people are stupid enough to put money into computers designed to steal it from them who are we to complain? If the government makes illegal I wouldn't complain. But while they are legal I see no issues profiting from them.

[Sir Why You Little 37,308]

10 minutes ago, Dr. Gonzo said:

It's going to be every club for themselves for the next few years.

This is the Bottom line. If we don’t toughen up at every level, the MFC will not survive and it will be entirely our own fault. 
We had it all... including a soft underbelly. 
 

i hope Pert and Bartlett realize how tough and nasty the environment will be next year and beyond. 
Winning on field is the only way to attract Sponsors and TV exposure 

We have to be ready to fight 17 other clubs or we are gone. There will  be no special treatment for the MFC

We must make money for the Comp. 

Edited May 30, 2020 by Sir Why You Little

[drysdale demon 4,837]

Just now, Dr. Gonzo said:

So what? MFC sells off our licenses and the machines don't disappear. It just means instead of the money going to us it goes into Bruce Mathiesons or Wesfarmers hands.

If people are stupid enough to put money into computers designed to steal it from them who are we to complain? If the government makes illegal I wouldn't complain. But while they are legal I see no issues profiting from them.

The problem is the State Governments are addicted to the revenue.

It's good to see some people on here really care about some of society's social problems. I hope they don't end up needing help one day.

[Sir Why You Little 37,308]

5 minutes ago, Dr. Gonzo said:

So what? MFC sells off our licenses and the machines don't disappear. It just means instead of the money going to us it goes into Bruce Mathiesons or Wesfarmers hands.

If people are stupid enough to put money into computers designed to steal it from them who are we to complain? If the government makes illegal I wouldn't complain. But while they are legal I see no issues profiting from them.

Yep i never understood this whole scenario. 
i hate Poker Machines BUT they are not illegal, anyone over 18 can thump money into them. 
the AFL obviously went hard on Clubs to do it, but where was the Compensation for it?

Meanwhile Betting Apps are shoved down our throats every 3 minutes 

The whole thing is ludicrous 

[Macca 17,113]

12 minutes ago, Dr. Gonzo said:

Clubs should insist on a revenue sharing model if the AFL insists on revenue maximisation policies that favour some clubs over others. The big clubs want their cake and eat it too and the AFL plays along. The small clubs don't speak out because they're reliant on the whims of the AFL. They've had decades to raise a protest and do something about it but they've refused. If they don't stand up for themselves now they never will.

The smaller clubs have probably been told to shut up and toe-the-line otherwise they risk being compensated down the track.  Might also just be an 'Understanding' similar to don't bite the hand that feeds you.

We'd have to play finals for the next 10 years running just to go close to catching up to the big boys.  And that's a big ask for any club considering they all have recruitment restrictions along with a moderated salary cap.

A more realistic approach would be to play finals in 5 of the next 10 years with (hopefully) a premiership thrown in.  2 flags in 10 years would see the masses in total shock.

 

[Diamond_Jim 12,687]

2 minutes ago, Macca said:

We'd have to play finals for the next 10 years running just to go close to catching up to the big boys.  And that's a big ask for any club considering they all have recruitment restrictions along with a moderated salary cap.

A more realistic approach would be to play finals in 5 of the next 10 years with (hopefully) a premiership thrown in.  2 flags in 10 years would see the masses in total shock

That could do it assuming that in the off years we finished 8-12 and broke even at worst in those off years.

First step is to overtake Carlton in an off field sense. They are vulnerable.

Also if we can swing Carlton, Dogs Port and Freo (along with Saints and North) to our side we could push the AFL for a realistic draw. Mind you if the comp made a loss we would be cutting our own throat in the short term. It would be a high stakes gamble.

In ten years the game will be saved by TV/media rights of some kind.I have no idea what it will be but the challenge is to be there as a real player in ten years.

[Macca 17,113]

22 minutes ago, Dr. Gonzo said:

Our doing? Collingwood basically let us have the queen's birthday game as a home game for 20 years.

I don't disagree with you but other clubs have it just as bad or worse than us. Something needs to be done about the AFLs unfair policies that discriminate against the smaller clubs. I've thought this for 20 odd years, but multiple MFC administration's have not wanted to rock the boat, the last one who stood up for us was Gutnick. I don't want to get back into the politics around his administration but the fact is we've kowtowed to the AFL and the big clubs for 20-30 years. To expect them to turn around and do "the right thing" by us now that the competition is facing an economic crisis is fanciful. It's going to be every club for themselves for the next few years.

Well it's our doing if we somehow managed to talk the Pies into handing out the home status for the QB clash Gonzo.

Mind you,  as previously stated,  the Pies probably made more of a profit from the QB clash over the years due to their 20,000 x $1000 memberships which allowed them control of that Western Stand.

So now they get to double-dip yeah?

And it was our initiative with regards to the ANZAC Eve game I believe (?) ... along with that opening home game blockbuster against the Cats in 2018 (whatever happened to that arrangement?)

For a while there it looked like we had 3 big games every season lined up. 

PJ was doing a power of work in that area.

[pitmaster 3,589]

It doesn't help us but I am taking quiet satisfaction in the fact the Hawks pokies are silent, and hopefully the debt on those gaming facilities is bleeding their reserves. F--- them now and forever.