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2 hours ago, Jack Russell said:

Ignorant comment we are effectively debt free 2 mil down from eight with eight mil in bank and bentleigh club as freehold asset worth ? A lot , expected 5 mil hole from COVID and if we raise 1 mil by xmas we won’t need to borrow which we can and the old Melbourne would have

I'm happy to be incorrect, but my reading of the financials isn't aligning.  Where am I going wrong?

Im going from the 2019 financial report which goes up to 31 Oct 2019.  I assume the situation hasn't got better from there.

My view is that 8 Million is not in the bank, in fact its in negative territory:

"Cash at bank and in hand  225,508" but "Bank overdraft(322,944)"

"At 31 October 2019, the Club had a $400,000 (FY18: $400,000) overdraft facility with Westpac. At 31 October 2019 the overdraft facility was drawn down to the balance of $322,944 (FY18: undrawn). The overdraft facility will incur an interest rate of 7.69% per annum, with interest charged monthly"

I guess you could argue the other items listed as current assets, such as merchandise and food an beverage are "cash in the bank", but I really don't see that as the same thing.  There is $1million in financial assets, but it doesn't seem to say what they are.

I also disagree with your proposition that we have $8mil in the bank, and the Bentleigh Club as a freehold asset.  Im just guessing here, but I suspect that the Bentleigh Club is already included in the assets, titled as Land $8.7 million. 

When you mention that debt is 2 mil down from eight.  Does that include selling the leighoak club for $7mil?

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4 minutes ago, Rossmillan said:

I'm happy to be incorrect, but my reading of the financials isn't aligning.  Where am I going wrong?

Im going from the 2019 financial report which goes up to 31 Oct 2019.  I assume the situation hasn't got better from there.

My view is that 8 Million is not in the bank, in fact its in negative territory:

"Cash at bank and in hand  225,508" but "Bank overdraft(322,944)"

"At 31 October 2019, the Club had a $400,000 (FY18: $400,000) overdraft facility with Westpac. At 31 October 2019 the overdraft facility was drawn down to the balance of $322,944 (FY18: undrawn). The overdraft facility will incur an interest rate of 7.69% per annum, with interest charged monthly"

I guess you could argue the other items listed as current assets, such as merchandise and food an beverage are "cash in the bank", but I really don't see that as the same thing.  There is $1million in financial assets, but it doesn't seem to say what they are.

I also disagree with your proposition that we have $8mil in the bank, and the Bentleigh Club as a freehold asset.  Im just guessing here, but I suspect that the Bentleigh Club is already included in the assets, titled as Land $8.7 million. 

When you mention that debt is 2 mil down from eight.  Does that include selling the leighoak club for $7mil?

Stop wasting everyone’s time you haven’t got a clue just an agenda not one number you have quoted is correct

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Posted (edited)
37 minutes ago, Jack Russell said:

Stop wasting everyone’s time you haven’t got a clue just an agenda not one number you have quoted is correct

Argh seriously go away.

You add nothing on here except berate anyone with an opinion. Its you that's wasting all of our time.

Clown.

Edited by dazzledavey36
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Posted (edited)
54 minutes ago, Jack Russell said:

Stop wasting everyone’s time you haven’t got a clue just an agenda not one number you have quoted is correct

You remind me why i prefer cats.

Yappy little thing

Edited by ding
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1 hour ago, dazzledavey36 said:

Argh seriously go away.

You add nothing on here except berate anyone with an opinion. Its you that's wasting all of our time.

Clown.

I have added plenty factually based not the pathetic opinions you share block me if you don’t like it marshmallow

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53 minutes ago, ding said:

You remind me why i prefer cats.

Yappy little thing

Woof woof go and hide between your hero G Ablett (senior)

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1 hour ago, Jack Russell said:

Stop wasting everyone’s time you haven’t got a clue just an agenda not one number you have quoted is correct

You're not factually correct and are just acting like an idiot. If you knew anything you'd name your sources. Go back to wherever you came from.

I'll await your scripted comeback.

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I'm pretty much in the same boat as a lot of others here, Hours cut to 30 a week and several layoffs, several expenses including rego coming up. I think I have to do this, I am most likely going to regret that but I guess I'm going out as much or spending as much as I used to (After all I'm sitting on DL at 1am on Sat morning). 

I know there are plenty of people here in worse positions who would kill to donate right now. Make no mistake what I contribute is as much for you as it is for me.

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I was happy to donate to this cause. I am a rusted on supporter. I fortunately have not been impacted by the COVID 19 situation and I feel for all of the individuals that have been and more importantly for those that have lost the battle with this decease. 

Perhaps gentleman you should think that you are lucky to continue to support the club, which in many ways supports all of us with joy and frustrations. I have not been happier watching and listening to the optimism and closeness  shown by all those involved in the club from the Board to the male and female players. They have embraced the desire to do well or be as good as they can be.

I do not often comment on the discussion boards, however I am do comment when I feel certain members are once again playing in the wrong game. The club is the most transparent I have ever known it to be in my 50 odd years of support. We must retain our optimism, or all is lost. 

 

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7 hours ago, Jack Russell said:

I have added plenty factually based not the pathetic opinions you share block me if you don’t like it marshmallow

In your own little fantasy world.

You're as delusional as they come. Do us all a favour and zip off.

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On 6/25/2020 at 11:26 PM, Sir Why You Little said:

 

Win some games Demons.....

This is the more important than continually raising funds to survive. 

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7 minutes ago, DemonOX said:

This is the more important than continually raising funds to survive. 

Agreed. Winning games raises funds automatically...

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Posted (edited)

whilst Covid will impact all club finances one needs to question why our club decided to move out of gaming when not truly in a financial position to do so??? I’m no fan of gambling and understand the impact it has on the community my question why are so many other big clubs still involved eg Hawks. We are a small club in comparison with poor on field success which impacts on our gate takings and just don’t believe we were ready to go down that path as noble as the stance against gaming!

Edited by Hogan2014

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6 minutes ago, Hogan2014 said:

whilst Covid will impact all club finances one needs to question why our club decided to move out of gaming when not truly in a financial position to do so??? I’m no fan of gambling and understand the impact it has on the community my question why are so many other big clubs still involved eg Hawks. We are a small club in comparison with poor on field success which impacts on our gate takings and just don’t believe we were ready to go down that path as noble as the stance against gaming!

Get woke go broke. 

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On 6/26/2020 at 4:25 PM, La Dee-vina Comedia said:

Isn't there a risk that the best coaches might choose to avoid any club that includes that in a contract? If that were to be the case, we might end up with an inferior coach. 

Thanks La Dee. Best chuckle of the afternoon so far.

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On 6/25/2020 at 11:15 PM, Hogan2014 said:

So after debt demolition, endless early draft picks, Peter Jackson restoring stability after inheriting a huge debt, the MFC is once again asking for 5mill! Covid alone this just highlights how poor our finances are & one wonders what is the future???

 

If you have not noticed, with Bentley club closed, no   gate takings, 2 blockbusters not happening,   the club revenues down about 70%, they would not be asking for 5 million if not for covid19, the bills don't stop when revenues come to a grinding halt. Where do you think the moneys coming from,  or would you rather borrow more money from the AFL, which will increase Debt.

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On 6/26/2020 at 11:26 PM, dazzledavey36 said:

Argh seriously go away.

You add nothing on here except berate anyone with an opinion. Its you that's wasting all of our time.

Clown.

There is opinion and there are making up a facts, , they are not the same thing, having different opinions are great,  it is not a opinion when someone  uses  blatant lies. Opinions are opinions, but lies are still lies.

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10 minutes ago, don't make me angry said:

If you have not noticed, with Bentley club closed,

I am surprised and disappointed that this property is still in our hands, and imv, should have been sold at the top of the property cycle a couple of years back.

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7 minutes ago, MyFavouriteMartian said:

I am surprised and disappointed that this property is still in our hands, and imv, should have been sold at the top of the property cycle a couple of years back.

Should have been sold 3 years ago and something better and more useful purchased. 
something that is used. The Bentleigh Club was always an outrider

Never mentioned or promoted 

Quite Bizarre in reality

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42 minutes ago, Sir Why You Little said:

Should have been sold 3 years ago and something better and more useful purchased. 
something that is used. The Bentleigh Club was always an outrider

Never mentioned or promoted 

Quite Bizarre in reality

Again, a backwater up a side alley.

It's like a sideshow,  our efforts to get something for the supporters.   No where near our club,  team,  and training.  It's just bulltish.!

 

Supporters want and need to be near their players,  hero's,  and the clubs hub.   Otherwise it just feels like we are outside that glass-curtain.

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12 minutes ago, MyFavouriteMartian said:

Again, a backwater up a side alley.

It's like a sideshow,  our efforts to get something for the supporters.   No where near our club,  team,  and training.  It's just bulltish.!

 

Supporters want and need to be near their players,  hero's,  and the clubs hub.   Otherwise it just feels like we are outside that glass-curtain.

We need to be within sight of the MCG

Other purchases in time can be further out, but not yet. The Training Facility needs to be close to our roots

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2 minutes ago, Sir Why You Little said:

We need to be within sight of the MCG

Other purchases in time can be further out, but not yet. The Training Facility needs to be close to our roots

We're training on the spot already;  we cannot get better than that,  because of it's falling distance to the biggest/busiest railway station in the burbs.

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2 minutes ago, MyFavouriteMartian said:

We're training on the spot already;  we cannot get better than that,  because of it's falling distance to the biggest/busiest railway station in the burbs.

Develop Gosch’s 

i can’t see any better unless we are able to build above Richmond Station in time. 
 

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4 minutes ago, Sir Why You Little said:

Develop Gosch’s 

i can’t see any better unless we are able to build above Richmond Station in time. 
 

It's perfect for us;  and will be better than eddies little jaunt up the road.

Now on that our social area should be between our oval and AAMI park.    And we can earn monies after footy games at the Mcg;  but also from passing trade after Stormers games as well. The AAMI stadium will be used frequently,  and IF we setup next to AAMI,  and we must keep our social area as far away from Punt Rd as possible,  for safety reasons.

 

We can make our club money from this type of Mfc venture,  by thinking outside of our MfcSS boxes.

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i'm fortunate enough to be in the position to donate - I don't say this to brag but in that I feel for many of those who aren't. It sucks what some have been through reading this. Footy clubs (from local all the way up) are built on community and this is a strong community here. 

I'm happy to donate but like most before me, I just want to see consistent improvement. Improvement compounds and what better way then to get a win on the 'G against the cats today. 

We still have a long way to go as a club and I think we are making the right decisions in terms of picking up players. It's more the culture that worries me. I'm not in the witch hunt for Goodwin, but I also think we need to surround him with a bit more and look at perhaps getting some really smart people in his circle. No criticism of Plapp, Egan, Rooke and Richardson - but I've yet to hear anything from them that I really secures faith (I also don't know how intelligent that are and perhaps that's just ignorant of me) 

I've been a fan since I was 6 and will always support this stressful, psychologically damaging team. 

Hope everyone can chip in when they can and this team can give us a bit of joy this year and in the future 

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