 |
|
|
| View previous topic :: View next topic |
| Author |
Message |
MatthewBoydFanClub
Joined: 12 Feb 2007
Location: Elwood
|
| Post subject: |  |
|
| I have no problem with the board either. I just want us to be playing finals next year. |
|
|
|
 |
jackcass 
Joined: 01 Mar 2005
Location: Bendigo
|
| Post subject: | |
|
| CarringbushCigar wrote: | why do we have to tip in 1.4 mill on a 1.5 mill operating profit ?
interesting what constitutes equalisation contribs and how they are calculated?
last year we had operating profit of 1.8 but netted 800k
no wonder we couldnt sack anyone in 2016
doubt we could afford walshy if this is heavily off field cap related
funny how we can depreciate 4million to the glass house - obviously not based on wear and tear  |
The $1.4M equalisation comes out before the $1.5M operating profit figure is reached. Equalisation also has nothing to do with the profit or loss of a club although making a profit certainly makes it easier to pay.
Depreciation is charged at a predetermined rate every year, for example 20%. (IE: First year 20% of $30M = $6M; 2nd year 20% of $25M = $5M; 3rd year 20% of $20M = $4M; 4th year 20% of 16M = $3.2M; 5th year 20% of $12.8M = $2.56M....). Depreciation is actually a tax minimisation process so hardly a bad thing. And the $30M value of the asset is likely improved value (what was spent on the upgrades) + previous depreciated value (old asset value prior to improvements). |
|
|
|
|
stui magpie 
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
|
| Post subject: | |
|
^
I'm not an accountant but yeah, depreciating the value of an asset is essentially a tax minimisation exercise as I understand it.
AFL clubs operate on a not-for-profit basis, any profit gets taxed, banked and taxed again on the interest, there's no payments to board or shareholders so depreciating the value of an asset is good business as long as you can make an operating profit and pay all your expenses without being limited by cashflow.
The AFL's equalisation policy is BS IMHO. They should be funding 100% of each clubs salary cap from the media rights money and if they want to prop up the northern state clubs and the welfare victorian clubs, do it from the (significant) amount left over rather than raiding the few clubs being fiscally responsible for more coin
_________________
Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
|
|
|
|
ronrat
Joined: 22 May 2006
Location: Thailand
|
| Post subject: | |
|
Equalisation money used to prop up clubs like the Bulldogs so they can pay big money for the likes of Tom Boyd. Now the AFL has Ethihad these pauper clubs will be given even more.At the expense of other clubs who don't want to play there as a home team.
_________________
Annoying opposition supporters since 1967. |
|
|
|
|
Jezza 
2023 PREMIERS!
Joined: 06 Sep 2010
Location: Ponsford End
|
| Post subject: | |
|
| Quote: | Pies post operating profit
The Collingwood Football Club has announced an operating profit before depreciation of $1,551,350 (2015 - $1,880,927) for the financial year ending 31 October 2016.
The result is the 16th consecutive operating profit Collingwood has recorded and one built upon a strong membership base of 74,819 members and sound commercial fundamentals.
As the club has previously advised supporters, each year Collingwood will continue to depreciate the value of the $30 million Glasshouse Community Centre, Holden Centre redevelopment and our gaming licenses and entitlements.
This financial year we have recorded a depreciation and amortisation expense of $4,173,973 (2015 - $2,634,485), an increase of $1,539,488 on 2015, largely due to the opening of the Glasshouse community centre in November 2015.
The final declared statutory result for the 2016 financial year is a net loss of $2,622,623 (2015 - profit of $848,076).
Collingwood President Eddie McGuire said that the result was a reflection of Collingwoods commercial stability and ability to weather on-field downturns.
It starts with the members and key partners, who continue to give incredible support to our club, he said.
Our 2016 financial result speaks loudly about that support and, because of it, our resilience and first class management.
In recent years we have invested heavily in creating world class facilities for our players, staff, members and supporters. We have expanded as a club in 2016 to now be represented by a Super Netball team and an AFLW team.
We will continue to chase the future but we could not do any of this or continue to honour our philanthropic commitment without such wonderful support.
Collingwood was also required to contribute $1,405,904 to the AFLs equalisation pool, which included $500,000 of AFL revenue sharing.
Collingwood Chief Executive, Gary Pert, attributed much of a year-on-year rise of almost $5 million in revenue to the Glasshouse Community Centre, which serves as a social hub for Collingwood fans and the broader Olympic Park precinct, houses event and function spaces and elite training facilities available to Collingwood teams and the public.
The opening of the Glasshouse exceeded expectations, Pert said.
It quickly became known as one of the premier event spaces in Melbourne and our members, fans, athletes and the public really embraced it.
Its operation has added significantly to the bottom line and will help allow us to continue to focus on our strategic priorities elite sport success, the servicing of our members and playing a profound role in public life.
The Collingwood Annual General Meeting for the 2016 season will be held on Monday 27 February 2017, at the Glasshouse Community Centre. Full details of the AGM will be communicated to members.
Highlights of Collingwoods 2016 financial year include:
- Operating profit before depreciation of $1,551,350 (2015 - $1,880,927)
- Total profit before depreciation of $1,551,350
- Total depreciation of $4,173,973 (2015 - $2,634,485)
- Total club revenue of $71,475,457 (2015 - $66,485,870)
- Membership figure of 74,819
- Collingwoods net asset position is $35,311,042 (2015 - $37,933,665)
- 16th consecutive operating profit |
http://www.collingwoodfc.com.au/news/2016-11-22/pies-post-operating-profit
_________________
| 1902 | 1903 | 1910 | 1917 | 1919 | 1927 | 1928 | 1929 | 1930 | 1935 | 1936 | 1953 | 1958 | 1990 | 2010 | 2023 | |
|
|
|
|
CarringbushCigar
Joined: 15 Nov 2007
Location: wherever I lay my beanie
|
| Post subject: | |
|
| Quote: |
Collingwood Chief Executive, Gary Pert, attributed much of a year-on-year rise of almost $5 million in revenue to the Glasshouse Community Centre, which serves as a social hub for Collingwood fans and the broader Olympic Park precinct, houses event and function spaces and elite training facilities available to Collingwood teams and the public.
The opening of the Glasshouse exceeded expectations, Pert said.
It quickly became known as one of the premier event spaces in Melbourne and our members, fans, athletes and the public really embraced it.
Its operation has added significantly to the bottom line and will help allow us to continue to focus on our strategic priorities elite sport success, the servicing of our members and playing a profound role in public life.
|
The only 'servicing' members are receiving is the sharp twinge felt when reading this. |
|
|
|
|
Pies4shaw 
pies4shaw
Joined: 08 Oct 2007
|
| Post subject: | |
|
| Is "playing a profound role in public life" a more important strategic priority than "winning the occasional premiership"? Or are they the same thing? |
|
|
|
|
CarringbushCigar
Joined: 15 Nov 2007
Location: wherever I lay my beanie
|
| Post subject: | |
|
If the Glasshouse has been the key for an increase in revenues of ~$5million then that is sensational, so long as the associated costs of operating are 'normal'.
Call me cynical by all means, but it is a little hard to believe based on perceived utilisation.
But to sell it as being a social hub for Collingwood fans is offensive (to me). |
|
|
|
|
Bucks5 
Nicky D - Parting the red sea
Joined: 23 Mar 2002
|
| Post subject: | |
|
What?!?!?! Are you saying that the Real Housewives of Melbourne and the Toorak set aren't Collingwood fans? Who knew.....
_________________
How would Siri know when to answer "Hey Siri" unless it is listening in to everything you say? |
|
|
|
|
CarringbushCigar
Joined: 15 Nov 2007
Location: wherever I lay my beanie
|
| Post subject: | |
|
| Bucks5 wrote: | | What?!?!?! Are you saying that the Real Housewives of Melbourne and the Toorak set aren't Collingwood fans? Who knew..... |
haha maybe they are
they must really be scoffing down those $55 hamburgers
might have to check em out |
|
|
|
|
RudeBoy
Joined: 28 Nov 2005
|
| Post subject: | |
|
| CarringbushCigar wrote: | | Bucks5 wrote: | | What?!?!?! Are you saying that the Real Housewives of Melbourne and the Toorak set aren't Collingwood fans? Who knew..... |
haha maybe they are
they must really be scoffing down those $55 hamburgers
might have to check em out |
They are not hamburgers, they are Wagu beef buns. |
|
|
|
|
watt price tully 
Joined: 15 May 2007
|
| Post subject: | |
|
| RudeBoy wrote: | | CarringbushCigar wrote: | | Bucks5 wrote: | | What?!?!?! Are you saying that the Real Housewives of Melbourne and the Toorak set aren't Collingwood fans? Who knew..... |
haha maybe they are
they must really be scoffing down those $55 hamburgers
might have to check em out |
They are not hamburgers, they are Wagu beef buns. |
Are you spruiking?
http://rudeboyburger.com.au
_________________
âI even went as far as becoming a Southern Baptist until I realised they didnât keep âem under long enoughâ Kinky Friedman |
|
|
|
|
Mugwump
Joined: 28 Jul 2007
Location: Between London and Melbourne
|
| Post subject: | |
|
| Pies4shaw wrote: | | Is "playing a profound role in public life" a more important strategic priority than "winning the occasional premiership"? Or are they the same thing? |
Of course it is. One's AO and next board membership on an ASX titan is not going to come from anything as vulgar a premiership.
_________________
Two more flags before I die! |
|
|
|
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum
|
|
The Rules
FAQ
Usergroups
Calendar
Search
Log in
Register
