Everything posted by Fritta and Turner
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2023 MFC Financials
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.
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2023 MFC Financials
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)
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2023 MFC Financials
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.
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2023 MFC Financials
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 $23.7m being received. The Board have established a Future Fund with the sale proceeds, to replace the foregone gaming income from the divestment of Bentleigh Club and Leighoak, and provide financial security for the Club for many years to come." Seems to state that the Future Fund was setup with the proceeds from the bentleigh club.
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Welcome to Demonland Koltyn Tholstrup
Hagrid?
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2024 NATIONAL DRAFT ORDER AND SELECTIONS
Potentially the Tigers have 9 picks. Do they have a father son coming?
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2024 Fixture
Round 0 - opening round?
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Revisiting the draft
Where would you rate Josh Daicos?
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Which threads exhibit the most paranoia?
on the grassy knoll next to the behind post
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Which threads exhibit the most paranoia?
I am never under control
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Which threads exhibit the most paranoia?
Who put you up to creating this thread? What secret agenda are you running?
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Jack Watts interview
I cried myself to sleep back in that era too. To his credit he has been very honest - party, party party
- Membership Packs
- Membership Packs
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2023 Nailbiters aka close finishes
We lacked class and polish
- Membership Packs
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2024 Fixture
As long as it is not played in the parish of Bumbang
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COMMON CARDS
Right, you have just been dropped from my Best 22 Posters 😁
- The No T$ No B$ Thread
- The No T$ No B$ Thread
- The No T$ No B$ Thread
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Jack Gunston
Should change his first name to Norman
- Trade Rumours 2023
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Training Ground?
True but unlikely. You cant even change a light globe at Caulfield without going before the heritage committee. (how they allowed electric trains i will never know)
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Welcome to Demonland: Pick 11
Sparrow at pick 27, Rivers at pick 32, Petty at 37 and ANB at 40. We can find them