Financial Issues MFC

[Mel Bourne 3,672]

5 minutes ago, Sir Why You Little said:

After all this Coronavirus madness settles down the reputation of the MFC will mean Bugger all. It will be solely measured on how strong we are and can be going forward. 
if we continue to be average at best onfield, we will struggle to survive. 
2020 is important. We have to perform well

Playing well and having integrity aren’t mutually exclusive concepts. If they were I’d have to re-evaluate my feelings for the game itself. 

[faultydet 7,593]

1 hour ago, Little Goffy said:

With regard to the pokies debate that has flared up -

I don't think it takes an anthropologist to point out that the greater the proportion of people and social institutions reject a behaviour and openly state it shouldn't be normal and acceptable, the greater the pressure on those who still do it.

So every person, business and football club which says no, matters, and brings us one step closer to containing the problem.

Same principle for drugs, domestic violence, underpaying staff, spitting on people, political lying, and so on.  Social change isn't achieved by the F'ing Avengers. It is a +1   +1   +1   +1   +1  effort that is maddeningly slow.

I'm glad the Melbourne Football Club is now on the positive side of that balance, rather than embracing a status as a toxic parasite.

As for the finances, really, it isn't going to be a key factor.  Not least because a huge portion of football club funding, both recurrent and special items, is drawn from reputation.  Add together the small gains in membership, the small gains in sponsor appeal, the small gains in attendances and viewers, and the little extra boost to our grant applications when we launch development proposals. 

The club's reputation is its key asset.

Everyone is still setting their benchmark to Richmond - how much funding did they secure for redevelopments and for marketing programs, by bundling those developments and programs in with community-benefit?  It was a massive amount and a major part in turning the club around

F' the pokies.  Reputation is worth more.

Nice post.

At least it puts reason behind the action. That's something that makes sense.

 

Thanks.

[Sir Why You Little 34,529]

7 minutes ago, Mel Bourne said:

Playing well and having integrity aren’t mutually exclusive concepts. If they were I’d have to re-evaluate my feelings for the game itself. 

That is merely your opinion, which you are entitled to have. 
I will be suprised if 18 teams survive this Pandemic aftermath

We are in a vulnerable position, so i expect the Club to fight hard. The best way to do that is on field. 
Exposure will improve with wins. The drip feed fixture will determine that

[Willmoy1947 3,780]

15 hours ago, radar said:

Players get too much. 
We’ve learned the nurses, doctors, frontline service workers are true heroes in our community. 
Players can still play, get a day job or study for one. 
Don’t deserve $200k doing something they’d be doing anyway. 
 

Couple of good points there. Of course one has the over hyped word "elite" to justify, like everything else.

[praha 10,282]

3 hours ago, Mel Bourne said:

Not sure if you were intending to summarise the  decline of society during late-stage capitalism in one sentence, but well done. 

society isn't declining because of late stage capitalism. Market economies are perhaps at historically their strongest ever (with more slowly transitioning out of mass poverty every day).

let's not give a free pass to the degeneration public discourse; the obscene nature modern "progressive" politics; and the amplification of fractured nationalism. I don't think any of those are a result of capitaliam.

Interesting you would be critical of capitalism, though, given Melbourne's biggest problem over the past 5 decades has arguably been both its lack of market competitiveness and its inept business tact. Decades of handouts and -- surprise surprise -- we're still garbage.

How shockingly dense and weirdly confident the club was to ditch a known (and legal) revenue generator, all for the sake of some feel good "woke" PR.

But hey I guess our "morality" is in check. Right alongside our $10 million debt and few (strong) assets to ride the bump.

[Half forward flank 1,022]

51 minutes ago, Diamond_Jim said:

Very true.... take North... it's major asset is leasehold improvements on its ground at Arden Street. At its simplest that is a zero or low value asset from a resale or borrowing viewpoint. It does have some value to North as it saves them renting admin and gym space etc.

Collingwood has hard income producing investments through its future fund.

Hawks have bricks and mortar entertainment venues with poker machine licences.

MFC has solid assets in the form of $8M in cash and the Bentleigh club at a 2011 valuation of $8.7M (presumably worth around $11-12M now). If we can minimise our 2019-2020 loss and come out strongly in following years we could go okay. The temptation is to do a North and invest in training facilities which would deplete our asset base. (Difficult decisions which frankly the Board needs to share with members because once this load of cash goes its hard to see where the next lot comes from.)

I believe the Bentleigh Club might be worth quite a bit more than $11-12 million to the right buyer.  

 

Edited May 31, 2020 by Half forward flank
grammar

[Cheap Seats 3,300]

3 hours ago, Mel Bourne said:

Not sure if you were intending to summarise the  decline of society during late-stage capitalism in one sentence, but well done. 

Thanks for the contribution Karl.

Try sticking to the point rather than boring us with your insight

[Mel Bourne 3,672]

On 5/29/2020 at 9:48 PM, Unleash Hell said:

 

An asset that produces income regardless of its morality is more valuable than cash to pay debt.

You don’t want to be bored by people? Don’t write [censored] like this. 

[Ethan Tremblay 28,423]

We need the younger generation to look at our club and think “far out they’re super groovy and hip.” 

[Cheap Seats 3,300]

17 minutes ago, Mel Bourne said:

You don’t want to be bored by people? Don’t write [censored] like this. 

Haha get a life mate.

Have fun picking fights on a internet forum Karl

[Mel Bourne 3,672]

47 minutes ago, praha said:

society isn't declining because of late stage capitalism. Market economies are perhaps at historically their strongest ever (with more slowly transitioning out of mass poverty every day).

let's not give a free pass to the degeneration public discourse; the obscene nature modern "progressive" politics; and the amplification of fractured nationalism. I don't think any of those are a result of capitaliam.

Interesting you would be critical of capitalism, though, given Melbourne's biggest problem over the past 5 decades has arguably been both its lack of market competitiveness and its inept business tact. Decades of handouts and -- surprise surprise -- we're still garbage.

How shockingly dense and weirdly confident the club was to ditch a known (and legal) revenue generator, all for the sake of some feel good "woke" PR.

But hey I guess our "morality" is in check. Right alongside our $10 million debt and few (strong) assets to ride the bump.

A couple of things here...

Being critical of capitalism doesn’t automatically make a person a lover of handouts, or a believer in any other kind of commie-centric ideals. 

Any economic system that has produced 1% of the world’s population controlling over half of the world’s wealth is not deserving of a big pat on the back. 
 

And it seems you’re suggesting I can’t be a supporter of a certain football team, while simultaneously having an issue with unchecked capitalism. I’m not sure I really need to say a anything about that, except that I don’t see it that way. 
 

I was merely addressing a certain poster’s attitude that morality shouldn’t affect bottom line, which even you must admit is a pretty prevalent and unfortunate tenet of modern-day capitalism (and one which depresses the [censored] out of me). It’s this particular attitude that has kids making your clothes and oceans full of plastic. 
 

I would rather be talking about football, but the nature of the topic we’re discussing here requires us to express certain beliefs that go beyond the game. I’m glad we don’t rely on gambling for profit. I have many reasons for this, which I think are valid. And I refuse to accept this line of argument that selling off the pokies (or other highly-questionable source of revenue) was poor management and direct threat to the club’s survival. 
 

 

[Mel Bourne 3,672]

12 minutes ago, Unleash Hell said:

Haha get a life mate.

Have fun picking fights on a internet forum Karl

Well you obviously rate it as a way to have fun, so maybe I’ll give it a crack. 

[Mel Bourne 3,672]

34 minutes ago, Ethan Tremblay said:

We need the younger generation to look at our club and think “far out they’re super groovy and hip.” 

It’s a bit of a bummer that you see something as admirable as the club parting ways with the gambling industry in this way. I’m guessing you’ve never really experienced the damage poker machines cause, up close. 

[Uncle Fester 2,835]

1 minute ago, Mel Bourne said:

It’s a bit of a bummer that you see something as admirable as the club parting ways with the gambling industry in this way. I’m guessing you’ve never really experienced the damage poker machines cause, up close. 

I have. One fell on my auntie and killed her

[Diamond_Jim 11,781]

Perhaps we should invite Mr Vlardy to be chairman and chief executive of the MFC.....He has a certain style

"The NRL will meet the NSW government this week armed with the threat of moving the grand final away from Sydney if the state doesn't deliver up to four boutique suburban stadiums over the next decade.

With the state government on Saturday dumping plans for the $800 million redevelopment of ANZ Stadium as it deals with the financial fallout of the COVID-19 crisis, NRL powerbrokers are set to demand funds be redirected towards suburban venues as part of a push to regenerate tribalism in rugby league."

[Ethan Tremblay 28,423]

32 minutes ago, Mel Bourne said:

It’s a bit of a bummer that you see something as admirable as the club parting ways with the gambling industry in this way. I’m guessing you’ve never really experienced the damage poker machines cause, up close. 

I have no idea how this relates to my post? We need the club to appeal to the younger generation was my point..

And not that it’s any of your business but my Opa lost all of his money on the pokies. He tried to win it back after a bad business deal. 

Edited May 31, 2020 by Ethan Tremblay

[Mel Bourne 3,672]

4 minutes ago, Ethan Tremblay said:

I have no idea how this relates to my post? 

Perhaps I got the context wrong but I read it as “it’s important the club has ethics so that young woke hipsters will think it’s cool”. If I got that wrong, I humbly apologise. 

[Sir Why You Little 34,529]

6 minutes ago, Ethan Tremblay said:

I have no idea how this relates to my post? We need the club to appeal to the younger generation was my point

Agreed. This should be front and centre

otherwise we are finished. Post Corona will be very different

[dazzledavey36 48,806]

On 5/29/2020 at 10:36 PM, WERRIDEE said:

This is why I was so critical in Dazzle not buying a membership. Everyone must buy a membership jump on board.

I signed up 3 weeks ago thanks. Even signed up my 6 month fella also.

Again, we were and still are going through a family turmoil at the time. Money was needed elsewhere. Partner unfortunately laid off from her job due to Covid 19, which means supporting her financially as well.

Don't dictate how people should spend their money. Life right now is tough for everyone. If they can't afford memberships then that's understandable. Far bigger worries in the world going on right now.

Edited May 31, 2020 by dazzledavey36

[Moonshadow 16,221]

2 hours ago, Unleash Hell said:

Thanks for the contribution Karl.

Try sticking to the point rather than boring us with your insight

Irony.

[Half forward flank 1,022]

2 hours ago, Ethan Tremblay said:

We need the younger generation to look at our club and think “far out they’re super groovy and hip.” 

Never going to happen.

[Dr. Gonzo 22,454]

7 hours ago, george_on_the_outer said:

 it will be interesting to know if the AFL are charging interest....

 

I'm pretty sure they are

[Leoncelli_36 2,264]

If we get 13k members to sign up, we can make up $1-2 million. It would really help. I’d like to be borrowing as little as possible from the League, as it will accumulate interest in time. We have to get proactive and chase the members. Even if we only make up the $1 million by reducing membership prices, it’ll be worth it in the long run. 

 

Strong member numbers are the key to attracting sponsors too. So it’s not just the money in the pocket, it’s the overall power position it puts the club in to negotiate sponsorship. 

[Dr. Gonzo 22,454]

6 hours ago, Mel Bourne said:

Yes, you could. But those other vices you mention weren’t bringing revenue into the club. 
 

What’s your point?

The club doesn't profit from alcohol or gambling?

[Leoncelli_36 2,264]

Side note, channel 9 news tonight has flagged tht the MFC have made fixture requests. Details to follow in 20 mins. No idea if this is related to this year, or whether it will be next years Qb and Anzac Eve games. Tune in.