Fritta and Turner

My maternal grandmother followed Carlton but when her son (my uncle) started playing district cricket for the MCC the family moved over to the demons. My father followed Prahran and was happy to swap to the Dees in the glory days. When that ended he was the first to stop going, for which my mum never forgave.

Having looked at the plans and artists impressions the redevelopment of the racecourse includes residential housing, shops, cafes, sporting facilities, playing grounds, bbq etc. Thats where the $570 mill comes from and I was suggesting if someone put that money up the project as a whole the project would kick off. I cannot see the MFC facilities going ahead in isolation or standalone or if thy did it would be eg Stage 1. There are many stakeholders all anxious to kick in as little as possible.

I understand your frustration but to kick it off do you have a spare $570 mill lying around? The redvelopment of the race course is a massive project involving The racecourse Trust, MRC, Glen Eira Council, State Govt (and probs the Feds), Environment Groups (save the snakes) Heritage Groups (save the horse pool) probs my mate Angus (wheres the bar) - more stakeholders than the botanical gardens. And the MFC will have to buy in big time to get any favored treatement. Dont hold your breath.

According to the MRC website, horse training finished at caulfield in late 2021. Certainly the stables on Neerim/Queen are empty as it was used by the Railways for gate removal works and the other trainer has moved to Cranbourne. I dont know if horses are still stabled their for other purposes. I think on average there is a race meeting about once a fortnight, typically on a Saturday, when the demons could often be elsewhere. There are other events held there but they typically use the facilities associated with the grandstands. I am assuming that the MFC admin/home/gym facilities will be built on the Booran Rd side. I think the site has alot of merit. (Nothing to do with me living a 10 minute walk away)

Thanks. Have you seen any financial statements from the Red and Blue Foundation? I think for Foundations you have to ask for them, rather than statements being published online; but I could be wrong, I really don't know...

We do have the Red and Blue Foundation you know. It is a tad above tin rattling. However not sure how this feeds into the MFC financials, nor for that matter whether the Foundation is holding a 'war chest'.

I totally understand where you are coming from on this but considering the financial history of the MFC over the last 50 years any money raised would have disappeared on deficits and debt.

McVee

Only if it didn't work

From reading the fin reports of previous years the proceeds of the sale of leighoak went to cover an immediate cash deficit, to reduce existing debt, and with the remainder going into an Clubs Investment Fund. This investment fund had to be liquidated to get us through Covid.

Assuming your quotation is correct then the heading in bold, Bentleigh Club Sale, is a direct indicator of what is being referred to in the phrase 'proceeds of the sale' ie the bentleigh club. Remember also the the sale of leighoak and bentleigh were not simultaneous events but 4? years apart but I will see if i can track the leighoak proceeds. (we are not in debt now but we were then)

Leighoak was sold back in 2018. From the 2018 financials "The Club had net assets of $13.109m at balance date, underwritten by the cash position largely achieved through the sale of Leighoak Club, and the Bentleigh Club land asset. The Club’s overall debt at the end of 2018 totalled $2.629m, which represents a reduction of $1.500m during the year. The Club will continue to prioritise the repayment of debt from its operating cashflow over the coming years, as it has done in prior years, with $5.499m of debt repaid since 2013" Btw the financials for the last 8 years are up on the website. And note we had debt back then. Not now.

From 2022 Financials "The Club completed its exit from the gaming industry, with the Bentleigh Club closing in August 2022. The sale of Bentleigh Club settled after the financial year end, with proceeds of $23.7m being received. The Board have established a Future Fund with the sale proceeds, to replace the foregone gaming income from the divestment of Bentleigh Club and Leighoak, and provide financial security for the Club for many years to come." Seems to state that the Future Fund was setup with the proceeds from the bentleigh club.

Hagrid?

Potentially the Tigers have 9 picks. Do they have a father son coming?

Round 0 - opening round?

Where would you rate Josh Daicos?

on the grassy knoll next to the behind post

I am never under control

Who put you up to creating this thread? What secret agenda are you running?

I cried myself to sleep back in that era too. To his credit he has been very honest - party, party party

Mine has arrived.

AP says it is coming today

We lacked class and polish

Have received a message from the Club and AP that my membership pack is on its way!!!! Has anyone received theirs yet?