2020 Financials: Reduced Debt Despite Loss

[pitmaster 3,591]

5 hours ago, don't make me angry said:

So when there are crowds next year and the club has to make up for  the 17 million dollars lost last year, you want the club to make less money next year, and make another operating loss maybe they should make membership free, maybe you will be happy with  the club folding.

Yep, the self-regard of some members is simply astounding. I find myself asking (rhetorically) where do they get off?

[BDA 23,048]

On 12/28/2020 at 3:44 PM, Gouga said:

But where does it show up in the financials which are required to be transparent? If there is a benefit it shouldn't be a secret. 

The terms of specific contracts are not required to be disclosed in the financial statements. There are good reasons, from a commercial perspective, why this is the case. 

[Adam The God 30,706]

On 12/28/2020 at 8:08 PM, george_on_the_outer said:

Welcome to the world of accounting....unless you see the actual book entries, you will never see the whole story.

It will never be in the accounts, but the possible advantages could be:

* rental at less than market rates for the administration offices.

* financial support directly from the MCC, but this would be hard to find in their accounts as well

* utilities costs? 

* provision of superbox at the MCG, at cost?

* advertising material inserted into MCC membership renewals

The pity is that the MCC has not provided enough to the MFC through its 160+ years of existence. We don't have a training base because the MCC only rented places like the Junction oval instead of putting up the money for a permanent facility.  Ground advertising went to the MCC for MFC  home games for years. 

Perhaps they can be "encouraged" to contribute to a future training and home base facility. 

Maybe, but I can't see our current administration changing the way the MCC Board seems to view the MFC.