Harvey Wallbanger

Future Fund - $23.7 mil. Cash $10.2 mil, of which $7.7 mil "of these funds are allocated for investment in the Club's Training & Administration Facility project". That leaves $2.5 million cash. And we have current liabilities including trade and other payables of $5.5 mil. Perhaps that explains the new $4.5 million loan facility from NAB (not drawn) - see Note 15. Just in case. And that cash is there partly because of the prepaid 2024 memberships as at 31 October 2023 of $3.7 million. Not saying any of this is bad. Just giving you the financial facts as contained in our audited financial statements.

And the proceeds from the sale of Leighoak? That was $10.7 million. The quote above come sfrom Key Highlights. The other quote from those 2022 Financials is this one further on in the Dircetors' Report: "Bentleigh Club Sale, Future Fund & Investment Committee As outlined previously, the sale of Bentleigh Club settled just after the financial year end. The sale of Bentleigh Club is the culmination of a long-term strategy to exit the gaming industry, which commenced with the sale of Leighoak in 2018 for $10.7m. The Club exits gaming with combined sale proceeds of $34.4m, and the expectation of an annual income stream from the Future Fund that will exceed income otherwise expected had the Club retained its two gaming venues. The Board have established a Future Fund with the proceeds of the sale, with the purpose of the Future Fund to underpin the long-term financial sustainability of the Club." One could read that the Future Fund was to be $34.4 m. Maybe the wording was unclear (sale proceeds/proceeds of the sale?) and it was only ever to be $23.7m?

It does BDA - so it is only (roughly) the proceeds from Bentleigh that has gone into the FF - $23.7m. My point is that last year we were advised that the combined sales proceeds would go into the FF, and not to be used on capex or operating deficits. It seems we have "pinched" $7.7 mil from the FF, ready in case we get to build something at Caulfield.

The Club doesn't respond to detailed questions from members - they tell you to ask them at the AGM, and you are restricted to one question per member (see your AGM notice you should have received today). Oh, and if you want a proxy form, you have to ask the Company Secretary - they used to be included in the notice.

Last year's Directors' Report said: "The Club exits gaming with combined sale proceeds of $34.4m, and the expectation of an annual income stream from the Future Fund that will exceed income otherwise expected had the Club retained its two gaming venues. The Board have established a Future Fund with the proceeds of the sale, with the purpose of the Future Fund to underpin the long-term financial sustainability of the Club." Why have we only put $23.7m in the Future Fund?

Likely to use one of those picks to upgrade Disco to the main list. Then tomorrow at the pre-season and rookie draft, Rookie (A) Kynan Brown and Marty Hore. Does that sound like a plan?

AFL website says we have 74 and 87 tonight - for father/son and rookie upgrade?

We have 74 and 88 still to be used tonight

No luck. Got caught three wide early - might need a short break.....

Last I heard was that we would play our first game against the Dogs on Sat, Mar 16 and therefore we were not involved with Round Zero....

Speaking of voting ET - how is your campaign going? Nominated yet? - you only need 20 MFC friends.

Diverging slightly, the Foundation Heroes/Legends group has been "re-launched" (it probably should not have laid dormant?) with the purpose of tapping the well-heeled for a facility - presumably Caulfield in the long term. An event was held at the MCG in August 2023. Not sure what has happened since. The hat was also being whipped around to complete an aquatic facility out at Casey. Also, not sure what has happened about that?

Foundation Heroes have been invited to register for the event via Ticketek. You are then granted a GA ticket to the ground via Gate 2. No reserved seating, but MFC members are encouarged to sit in Bay M45. I assume the same applies to members generally and the relevant links are on the MFC website.

A comfortable win for us at windy old Casey. Come on Saints!

Maybe a bit harsh on Porz - he was just put on the Board just last month. Rennick has been on since October 2020. Roffey has been on the Board since 2013 and has chaired the Board's Facilities Working Group since 2019.

Is the prospect of being in the MCG precinct officially dead? If so, it would be nice for members to know that. Re Caulfield - are we just at the feasibility stage? Does anyone know? That's where we were re Jolimont 5 years ago...... My understanding is that the Future Fund is locked away - not to be used for any new facility.

I agree. He showed some real promise particularly in that practice match against the Saints earlier this year.

Future second given for McAdam - but I noticed you have adjusted that in your draft picks. Thanks for all the work.

I agree. I hope it shows that you can love AFL, but still acknowledge how amazing that Panthers/Broncos game was. I found the commentary interesting around players who had already signed with competing clubs for next year. We haven't got to that stage yet - wonder how it will go down when it does arrive.....

See you there WCW!

Ollie fan won't be happy - you're on the wrong thread.

Fair enough - I will also pass your message onto rpfc who posted on this thread: Like with Board appointments, FMD I am glad fans have little say with appointing Yze’s replacement. By and large - NFI.

You will have to be there in person to get the answer. Last year, they did not stream the Q & A session.

My goodness, you are fired up, late on a Sunday night. But your fundamental point is that the "Great and the Good" shall choose our Board, and those deplorable members should hand over their dosh; shout their lungs out, but otherwise stay well away. Not how a members' Club should work my friend.

So how are those Board appointments going? Some being sued for defamation, some not? Internecine squabbles - hundreds of thousands of dollars in legal costs. Lost a case in the Supreme Court. Lost a costs request in Perth? The Club belongs to its members - let them choose the Board rather than the Putinesque way it is done at the moment.