Jump to content

Financial Issues MFC


Hogan2014

Recommended Posts

10 minutes ago, pitmaster said:

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.

don't hold your breath

Hawks had a current asset surplus of $20M as at October 2019 not to mention a net equity of over $50M

Makes you cry as to what they have done since the failed merger compared to us.

Edited by Diamond_Jim
Link to comment
Share on other sites

8 minutes ago, Diamond_Jim said:

don't hold your breath

Hawks had a current asset surplus of $20M as at October 2019 not to mention a net equity of over $50M

Makes you cry as to what they have done since the failed merger compared to us.

Exactly the Hawks developed long term plans for financial success which translated into on field success with 4 flags ... the Mfc looked to a white Knight Guidnick and continued to go around in circles for another 2 decades with zero flags & burnt all of their early draft picks & to rub salt into the wound Scully may end up winning a flag with Hawthorn!!

Edited by Hogan2014
Link to comment
Share on other sites

A dozen clubs (at least) will need a lot of financial assistance from the AFL ... the borrowing of $600Million will see to that.

But the money will need to be paid back and it will be the AFL that will be in debt when they bail the clubs out.  Therefore,  the usual end of season dividend will almost certainly be greatly reduced.  Thus,  club expenditure will need to be greatly reduced as a consequence.

And the debt will be largely driven by the guaranteed salaries to the players ... albeit with a percentage drop.  FD spend is still going on re coach salaries etc etc.  Ongoing.

All this whilst the income streams have slowed to a trickle.  Again,  ongoing.

  • Like 2
Link to comment
Share on other sites

8 minutes ago, pitmaster said:

 

Yet they abandoned Dingley.

No.... they were fund raising for Dingley (most of it anyway) and they have put the fund raising on hold.

Kennett said sometime back that they could pay for it in full but they preferred to fund raise a substantial proportion from government and supporters.

Hate to say it but they're shovel ready if any grants come the way of professional sports.

Link to comment
Share on other sites

43 minutes ago, Macca said:

A dozen clubs (at least) will need a lot of financial assistance from the AFL ... the borrowing of $600Million will see to that.

But the money will need to be paid back and it will be the AFL that will be in debt when they bail the clubs out.  Therefore,  the usual end of season dividend will almost certainly be greatly reduced.  Thus,  club expenditure will need to be greatly reduced as a consequence.

And the debt will be largely driven by the guaranteed salaries to the players ... albeit with a percentage drop.  FD spend is still going on re coach salaries etc etc.  Ongoing.

All this whilst the income streams have slowed to a trickle.  Again,  ongoing.

Fund raising... sounds pretty smart. 

  • Like 1
Link to comment
Share on other sites

2 hours ago, praha said:

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.

Sad state of affairs, the deadzone.

Link to comment
Share on other sites


18 minutes ago, Leoncelli_36 said:

Fund raising... sounds pretty smart. 

Sure ... but one has to be realistic as well

We'd probably need to raise about $10Million within the next year just to offset the expected lower dividend at seasons end - and next year. 

Gate receipts - right now,  negligible. Next year,  who knows?

Sponsorship & memberships ongoing?  Without crowds,  that's another issue L_36

The immediate way is to slash costs.   Player salaries is the biggie but the money is guaranteed against budgeted incomes.  So,  in effect,  we'd be raising money to offset player salaries.  And most know that.

I'd say $20Million needs to be raised but that's a huge ask.  And right now,  for many,  charity begins at home.

I'm not against your idea but I reckon the real answer right now lies with expenditure being slashed along with a greatly reduced salary cap as well as a much much smaller FD. 

The clubs are probably being briefed on how much they will be funded by the AFL.  From there,  a drive to raise funds can begin.

And that can happen sooner rather than later once the whole business plan for all the clubs is enacted.

  • Like 1
Link to comment
Share on other sites

2 minutes ago, Macca said:

Sure ... but one has to be realistic as well

We'd probably need to raise about $10Million within the next year just to offset the expected lower dividend at seasons end - and next year. 

Gate receipts - right now,  negligible. Next year,  who knows?

Sponsorship & memberships ongoing?  Without crowds,  that's another issue L_36

The immediate way is to slash costs.   Player salaries is the biggie but the money is guaranteed against budgeted incomes.  So,  in effect,  we'd be raising money to offset player salaries.  And most know that.

I'd say $20Million needs to be raised but that's a huge ask.  And right now,  for many,  charity begins at home.

I'm not against your idea but I reckon the real answer right now lies with expenditure being slashed along with a greatly reduced salary cap as well as a much much smaller FD. 

The clubs are probably being briefed on how much they will be funded by the AFL.  From there,  a drive to raise funds can begin.

And that can happen sooner rather than later once the whole business plan for all the clubs is enacted.

See this is the attitude that gives me the ****ees... let’s wait and see how bad things get before we ask supporters for help. Just get on it. Any extra money to make up for short fall is a positive. Stick it in a future fund if needs be. Invest it. I don’t care, but clubs that are reliant on the AFL year after year will be gone within 5 years. 

Link to comment
Share on other sites

I wouldn't rule out Government assistance to a large degree either ... the footy clubs are such a big part of our lives so $10Million (each) to the clubs that need it can be seen as an investment.

With a promise to reduce costs as part of any deal. 

The FD's were becoming too big anyway IMO.  Money being wasted needlessly?  I reckon so.

Link to comment
Share on other sites

6 minutes ago, Leoncelli_36 said:

See this is the attitude that gives me the ****ees... let’s wait and see how bad things get before we ask supporters for help. Just get on it. Any extra money to make up for short fall is a positive. Stick it in a future fund if needs be. Invest it. I don’t care, but clubs that are reliant on the AFL year after year will be gone within 5 years. 

No it's not that at all ... a lot can happen within the next month or so (AFL bail-out's or possible Government assistance)

And right now,  a lot of people are struggling financially.  And they're worried about their own future's. 

I wouldn't get too agitated about it all ... not yet anyway. 

Link to comment
Share on other sites

26 minutes ago, Leoncelli_36 said:

See this is the attitude that gives me the ****ees... let’s wait and see how bad things get before we ask supporters for help. Just get on it. Any extra money to make up for short fall is a positive. Stick it in a future fund if needs be. Invest it. I don’t care, but clubs that are reliant on the AFL year after year will be gone within 5 years. 

Bit early for a $20 mill tin rattle mate

Earth is still (almost) turned off. 
 

Next year is the time for fund raising 

Link to comment
Share on other sites

We have had three months to think about how to raise revenue shortfalls, I’m just not hearing anything from the club about ideas to do so. For example, empty stands, have we thought about tarps to cover seats with additional sponsors? Fan cutouts like the nrl had, are we considering it? Businesses that have adapted during this period are surviving, those that aren’t are going under. We need to be proactive, not reactive when the darkest days come. 

  • Like 2
Link to comment
Share on other sites

21 hours ago, rjay said:

It's a good question...

Without wanting to get to far into this discussion it wouldn't have been coming from pokies if we had them either.

It's all closed up.

...but will be interested to see what happened with the sale of the asset.

That money will be eaten up quickly with no revenues coming in...unless it is producing some revenue elsewhere.

Well said Rjay as a member of a closed bowls club with pokies I can tell you they are a liability. The machines aren't turned off because of difficulties and cost starting them up. So they are still chewing up electricity. Then when clubs open how do you keep the buttons clean and social distancing. getting rid of the pokies is the best thing we have done.

  • Like 1
Link to comment
Share on other sites

4 hours 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.

How much pain does alcohol cause? shall we ditch Furphy as well? 

"Poker machines account for over 80% of problem gamblers"

But how many gamblers have a "problem"?

  • Like 1
Link to comment
Share on other sites


18 minutes ago, demonstone said:

People advocating for poker machines are the type that know the price of everything and the value of nothing.

I'm not advocating for poker machines. They should be banned, it is ridiculous that you can have computers programmed to take people's money in pubs around the state. But they are legal and while they are I would rather any profits go towards MFC rather than the pockets of those who already have more money than they know what to do with. It's going to cause a massive revenue shortfall for us in the coming years that this crisis will only exacerbate.

  • Like 1
Link to comment
Share on other sites

17 minutes ago, Dr. Gonzo said:

I'm not advocating for poker machines. They should be banned, it is ridiculous that you can have computers programmed to take people's money in pubs around the state. But they are legal and while they are I would rather any profits go towards MFC rather than the pockets of those who already have more money than they know what to do with. It's going to cause a massive revenue shortfall for us in the coming years that this crisis will only exacerbate.

maybe by your logic we should start buying up brothels ?

  • Like 1
  • Haha 1
Link to comment
Share on other sites

5 hours ago, praha said:

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.

If only we had pokies to save us... ppppffttt

Link to comment
Share on other sites

1 hour ago, Dr. Gonzo said:

First thing I would be doing finance wise is getting the AFL to guarantee we host Anzac Eve and Queens Birthday next year. Get on the front foot about it. Hopefully crowds are allowed back by then.

Oh mate send your this idea into Pert, I’m sure he hasn’t thought of this as yet. 
 

Link to comment
Share on other sites

3 minutes ago, Cards13 said:

Oh mate send your this idea into Pert, I’m sure he hasn’t thought of this as yet. 
 

Gonzo is right though Cards

Sometimes the obvious 'ask' needs to be aggressively pursued. 

It can't be assumed that the Pies & Tigers won't push for both games to be their home fixtures.

The comp is just as aggressive off the field. 

We need to push hard and fight for everything that we can get.

I'd also be pushing for a round 1 home game against the Cats and 5 years worth of home games against the Bombers.  Maybe 10 years worth to square the ledger.

  • Like 2
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Demonland Forums  

  • Match Previews, Reports & Articles  

    2024 Player Reviews: #31 Bayley Fritsch

    Once again the club’s top goal scorer but he had a few uncharacteristic flat spots during the season and the club will be looking for much better from him in 2025. Date of Birth: 6 December 1996 Height: 188cm Games MFC 2024: 23 Career Total: 149 Goals MFC 2024: 41 Career Total: 252 Brownlow Medal Votes: 4

    Demonland
    Demonland |
    Melbourne Demons 8

    2024 Player Reviews: #18 Jake Melksham

    After sustaining a torn ACL in the final match of the 2023 season Jake added a bit to the attack late in the 2024 season upon his return. He has re-signed on to the Demons for 1 more season in 2025. Date of Birth: 12 August 1991 Height: 186cm Games MFC 2024: 8 Career Total: 229 Goals MFC 2024: 8 Career Total: 188

    Demonland
    Demonland |
    Melbourne Demons 5

    2024 Player Reviews: #3 Christian Salem

    The luckless Salem suffered a hamstring injury against the Lions early in the season and, after missing a number of games, he was never at his best. He was also inconvenienced by minor niggles later in the season. This was a blow for the club that sorely needed him to fill gaps in the midfield at times as well as to do his best work in defence. Date of Birth: 15 July 1995 Height: 184cm Games MFC 2024: 17 Career Total: 176 Goals MFC 2024: 1 Career Total: 26 Brownlow Meda

    Demonland
    Demonland |
    Melbourne Demons 7

    2024 Player Reviews: #39 Koltyn Tholstrop

    The first round draft pick at #13 from twelve months ago the strongly built medium forward has had an impressive introduction to AFL football and is expected to spend more midfield moments as his career progresses. Date of Birth: 25 July 2005 Height: 186cm Games MFC 2024: 10 Career Total: 10 Goals MFC 2024: 5 Career Total: 5 Games CDFC 2024: 7 Goals CDFC 2024: 4

    Demonland
    Demonland |
    Melbourne Demons 6

    2024 Player Reviews: #42 Daniel Turner

    The move of “Disco” to a key forward post looks like bearing fruit. Turner has good hands, moves well and appears to be learning the forward craft well. Will be an interesting watch in 2025. Date of Birth: January 28, 2002 Height: 195cm Games MFC 2024: 15 Career Total: 18 Goals MFC 2024: 17 Career Total: 17 Games CDFC 2024: 1 Goals CDFC 2024:  1

    Demonland
    Demonland |
    Melbourne Demons 15

    2024 Player Reviews: #8 Jake Lever

    The Demon’s key defender and backline leader had his share of injuries and niggles throughout the season which prevented him from performing at his peak.  Date of Birth: 5 March 1996 Height: 195cm Games MFC 2024: 18 Career Total: 178 Goals MFC 2024: 1 Career Total: 5

    Demonland
    Demonland |
    Melbourne Demons 1

    2024 Player Reviews: #13 Clayton Oliver

    Lack of preparation after a problematic preseason prevented Oliver from reaching the high standards set before last year’s hamstring woes. He carried injury right through the back half of the season and was controversially involved in a potential move during the trade period that was ultimately shut down by the club. Date of Birth:  22 July 1997 Height:  189cm Games MFC 2024:  21 Career Total: 183 Goals MFC 2024: 3 Career Total: 54 Brownlow Medal Votes: 5

    Demonland
    Demonland |
    Melbourne Demons 17

    BLOODY BLUES by Meggs

    The conclusion to Narrm’s home and away season was the inevitable let down by the bloody Blues  who meekly capitulated to the Bombers.   The 2024 season fixture handicapped the Demons chances from the get-go with Port Adelaide, Brisbane and Essendon advantaged with enough gimme games to ensure a tough road to the finals, especially after a slew of early season injuries to star players cost wins and percentage.     As we strode confidently through the gates of Prin

    Demonland
    Demonland |
    Melbourne Demons 3

    2024 Player Reviews: #5 Christian Petracca

    Melbourne’s most important player who dominated the first half of the season until his untimely injury in the Kings Birthday clash put an end to his season. At the time, he was on his way to many personal honours and the club in strong finals contention. When the season did end for Melbourne and Petracca was slowly recovering, he was engulfed in controversy about a possible move of clubs amid claims about his treatment by the club in the immediate aftermath of his injury. Date of Birth: 4 J

    Demonland
    Demonland |
    Melbourne Demons 21
  • Tell a friend

    Love Demonland? Tell a friend!

×
×
  • Create New...