St Kilda announces financial result

[HitTheBoundary]

Let the meltdown begin...

"St Kilda Football club has reported an operating loss (EBITDA) of $1,198,587. After accounting for depreciation, amortisation and interest the club made a statutory loss of $2,614,837 for the year ending October 31, 2013."
http://www.saints.com.au/news/2013-12-2 ... ial-result

[saintsRrising]

No wonder they have waited till a lot of people are on leave....

[ozrulestrace]

Ouch, this is really depressing and a long hard effort will be needed for us to get out of that black hole.

[chook23]

Any ideas what the SAINTS MARCHING FUND is about?...................

note it is to be launched in 2014.

Is this the announcement that summers mentioned a few weeks back....
Some major new club direction.

Overall our finances are terrible....

[plugger66]

I wonder if we have the biggest debt of all the Victorian clubs? probably i would say and next year we have SW payments on top of that.

[Dr Spaceman]

I wonder if we have the biggest debt of all the Victorian clubs? probably i would say and next year we have SW payments on top of that.

Can we get CJ to burn the books?

[magnifisaint]

No wonder Nettlefold got the arse

[suss]

Hopefully the marching fund will involve marching back to Linton Street.

And what does the word 'dis-equal' mean? Heavens above.

[R. Harvey 3 votes!]

If only those people who are only members when the club is winning would sign up every year no matter what!
There would be a million bucks in membership revenue right there if people actually gave a s*** about the club!

[HitTheBoundary]

So the extra payouts included in the loss would presumably be to Watters and Greg Hutchison.
From the way it was reported the other coaches and fitness guy left of their own accord, unless some of the assistants were pushed and had to be paid out as well.

Hopefully this is the last time (for a few years at least) we have to pay out sacked staff.......

[plugger66]

So the extra payouts included in the loss would presumably be to Watters and Greg Hutchison.
From the way it was reported the other coaches and fitness guy left of their own accord, unless some of the assistants were pushed and had to be paid out as well.

Hopefully this is the last time (for a few years at least) we have to pay out sacked staff.......

SW was after the financial year. There was a rumour part of that was due to making sure the payment was in next years financial statement. I dont think Hutchinson had a contract next year so that makes no difference.

[HitTheBoundary]

So the extra payouts included in the loss would presumably be to Watters and Greg Hutchison.
From the way it was reported the other coaches and fitness guy left of their own accord, unless some of the assistants were pushed and had to be paid out as well.

Hopefully this is the last time (for a few years at least) we have to pay out sacked staff.......

SW was after the financial year. There was a rumour part of that was due to making sure the payment was in next years financial statement. I dont think Hutchinson had a contract next year so that makes no difference.

So who does this refer to then?

"Mr Summers also said "Importantly, the result also includes one-off termination costs in the football department which occurred late in the financial year. "

[Enrico_Misso]

Revenue streams have dropped away.

We don't have a genuine major sponsor.
Our paid up membership base doesn't reflect our years of comparative success and underlying supporter base.
Poker revenue (much as it is evil money) is poor compared with other clubs.
We don't have a true home our supporters can identify with.

[plugger66]

So the extra payouts included in the loss would presumably be to Watters and Greg Hutchison.
From the way it was reported the other coaches and fitness guy left of their own accord, unless some of the assistants were pushed and had to be paid out as well.

Hopefully this is the last time (for a few years at least) we have to pay out sacked staff.......

SW was after the financial year. There was a rumour part of that was due to making sure the payment was in next years financial statement. I dont think Hutchinson had a contract next year so that makes no difference.

So who does this refer to then?

"Mr Summers also said "Importantly, the result also includes one-off termination costs in the football department which occurred late in the financial year. "

Maybe it did go in but why wouldnt he just say SW got his termination this financial year. I dont know how you can pay it when he wasnt sacked till after the financial year. maybe JB will know if it is possible.

[GrumpyOne]

Big hints in El Presidente's letter about Moorabbin and Tasmania.

Interesting couple of years ahead.

[spert]

All the success we had from 2004 and the respect gained, is now just a big fat nothing- it might as well never have happened. It is hard to fathom how presidents and boards, made up of people successful in various walks of life, could turn this club into a train wreck. I fell like I've been taken back to the bad old days of the '80s to a St Kilda club that was basically s*@t.

[Enrico_Misso]

Did we keep the SOS cans somewhere in the basement?

[Sainternist]

We don't have a true home our supporters can identify with.

Yes, I believe this to be a HUGE problem. I remember the other week some posters on here dismissing it as being trivial. Two years on and the supporters have not warmed to Seaford. Can't see people calling it "home" any time soon either. Perhaps they will we starting to call it that after getting some onfield success? Who knows...

[Enrico_Misso]

A meaningful return to Moorabbin is also a major priority. People often say Frankston or Moorabbin - they are not in competition and we will grow both facilities. We continue to work actively on plans with the Kingston City Council and the AFL to reinvigorate the social, community and football facilities at Moorabbin. We will establish the facility as a precinct for local community football and we make a commitment that the St Kilda Football Club will be playing out of Moorabbin once more, with the establishment of our own VFL team by 2016.

At last.
A reversal of the lunacy of Archie "Thanks for nothing" Fraser.

[Dave McNamara]

Some thoughts:

# The figures can be looked at in several ways, but our assets still exceed our liabilities by $3mil (page 13). We just need to stop the haemorrhaging.

Without having seen their figures, I'd suspect that Nuff Nuff, Poodles, Nought Power, Teddies and Carlscum would have books in a worst state than ours. What about Hillbillies and Tuggers... I suspect they haven't cleared their debts yet? Effn'dum is looking at loosing $4-6mil (and counting) thanks to Tirdy and his performing ego.


# Great to see SuperDuper get life. Anyone know why it took so long?


# GO, is it my (once were) Liberal's education affecting my reading, or did you mean NZ c/f Tassie?


# Sumerlovin' should definitely stick to written (and the occasional audio) communication. I thought that his El Pres' report was very well 'presented'.

If only those people who are only members when the club is winning would sign up every year no matter what!
There would be a million bucks in membership revenue right there if people actually gave a s*** about the club!

Nailed it!

Revenue streams have dropped away.

We don't have a genuine major sponsor.
Our paid up membership base doesn't reflect our years of comparative success and underlying supporter base.
Poker revenue (much as it is evil money) is poor compared with other clubs.
We don't have a true home our supporters can identify with.

Nailed it!

[Junction Oval]

The management of this Club has been a disaster for years now. Who authorised Nettlefold's reported 700K salary?? Are they still at the Club??
With the SW payout likely to be in next year's books, it's not a good start to 2014!

Without a stable "home," falling membership, no real "vision" and low value perceptions by sponsors, it will be a very hard road ahead. We need a very competent, high profile President to kick things off - anyone willing to take on the job!

[Sainternist]

We need a very competent, high profile President to kick things off - anyone willing to take on the job!

Peter Summers may not be high profile, but I feel he is at least trying his utmost to steer the club away from rough seas.

Who on earth out of our high profile supporters would be president material anyway? Eric Bana? Michael Gudinski? I think not.

[saintspremiers]

Piss off quickly Netters before you bleed us to death.

[saintbrat]

Big hints in El Presidente's letter about Moorabbin and Tasmania.

Interesting couple of years ahead.

full letter
http://www.saints.com.au/news/2013-12-2 ... 4_10066327

and annual report.
http://sainters.net/uploads/131223_Annu ... t_2013.pdf

[saintbrat]

Any ideas what the SAINTS MARCHING FUND is about?...................

note it is to be launched in 2014.

Is this the announcement that summers mentioned a few weeks back....
Some major new club direction.

Overall our finances are terrible....

The Saints Marching Fund’ will be launched in 2014. It is aimed at raising capital for the club to set the framework for commercial and on-field success. It will also allow us to build a financial war chest to invest in key strategic initiatives and eliminate our debt

.

http://www.saints.com.au/news/2013-12-2 ... 4_10066327