St Kilda announces financial result

[HitTheBoundary]

" We will also host Member forums across every state and key regional areas throughout February and March so we can hear from you directly and you can have your input."

All the experts on here will get a chance to have their say.

[bobmurray]

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...

We don't play at Seaford, we don't play at Moorabbin either. But we have 2 homes.

Seaford is an elite training facility whilst Moorabbin is a dump, i've been to both recently.

Anyone can go to Moorabbin and pour their hard earned into the infamous poker machines, that'll help the club. Then when they're skint they can walk over to the oval and reminisce about the wooden spoon days.

[saintspremiers]

" We will also host Member forums across every state and key regional areas throughout February and March so we can hear from you directly and you can have your input."

All the experts on here will get a chance to have their say.

About bloody time they had focus groups.

It ain't rocket science all the good stuff in the letter. More to the point why has it taken so long to come to this?

The Marching Fund concept should've happened years ago to help build Moorabbin.

Also, he says a ressies team at Moorabbin by 2016. So does that mean 2015 season could see Saints VFL at Linton st a year ahead of the original plan? Hope so!

[Toy Saint]

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

So, we've lost $1.4m on depreciation, amortisation and interest. That's a lot of interest, anybody know how much debt we are servicing? It's also a lot of depreciation, can anybody tell me which assets have been depreciated?

[BigMart]

Well ill be

The management of the club being questioned!

[joffaboy]

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

So, we've lost $1.4m on depreciation, amortisation and interest. That's a lot of interest, anybody know how much debt we are servicing? It's also a lot of depreciation, can anybody tell me which assets have been depreciated?

When you get the annual report look up the notes. That will give you an idea.

So we have a huge whopping loss. More interested in the Bal Sheet and Cash Flow Stmt to be honest.

Pity. Under Butters we had a stable profitable club. But you all wanted the spending like a drunken sailor Football First ticket.

I argued at the time, that they seemed a bit fiscally irresponsible and was howled down.

Well you reap what you sow. Hope everyone who attacked me and voted for this bunch of spendthrift spenders are happy now.

[joffaboy]

Well ill be

The management of the club being questioned!

Where in the forum rules does it state it can't be?

Or are you just breaking forum rules by baiting?

I argued in 2007 Mr Right and his bunch were going to inflict heavy financial pain on the club.

And so it has come to pass.

All the great work done by Butters and Waldron etc undone because the heaving financially ignorant mass of emotive supporters just HAD to get rid of Butters and his regime

The club is a financial basket case, however I will reserve judgement until I read and analyse the annual return. A profit or loss is SFA in real terms. However, I have a sneaking feeling that the Cash Flow will be a major concern.

The Bal Sheet is basing its Assets on current book value. Wouldn't suprise if these are hugely overstated as well and need a revalue.

Have a very bad feeling that if this club was a true business it would be in administration.

[Spinner]

Well ill be

The management of the club being questioned!

Where in the forum rules does it state it can't be?

Or are you just breaking forum rules by baiting?

I argued in 2007 Mr Right and his bunch were going to inflict heavy financial pain on the club.

And so it has come to pass.

All the great work done by Butters and Waldron etc undone because the heaving financially ignorant mass of emotive supporters just HAD to get rid of Butters and his regime

The club is a financial basket case, however I will reserve judgement until I read and analyse the annual return. A profit or loss is SFA in real terms. However, I have a sneaking feeling that the Cash Flow will be a major concern.

The Bal Sheet is basing its Assets on current book value. Wouldn't suprise if these are hugely overstated as well and need a revalue.

Have a very bad feeling that if this club was a true business it would be in administration.

Yeah where does the detailed financials come out? Or is that it?

I want to look at these too...

[Snakeman66]

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

So, we've lost $1.4m on depreciation, amortisation and interest. That's a lot of interest, anybody know how much debt we are servicing? It's also a lot of depreciation, can anybody tell me which assets have been depreciated?

Depreciation was about $1.25M and debt has increased to $4.55M(+$160K) and bank balance gone from $400K credit funds to $20K OD.

[saintspremiers]

Faaark 4.5M of debt!

Lucky interest rates are at historical lows or we would be on life support!

[howlinwolf]

Did we keep the SOS cans somewhere in the basement?

I would be happy to donate $50 for each of the three Sainters that live here if we can have some sort of garauntee that we have a plan that is going to see us financially viable. I don't want to throw money at incompetence.

The recent poker figures quoted were mind boggling. Collingwood made 22mil and we made 750k. How can we hope to compete with the big teams ? We need good management and planning.
10 years in finals is not enough on it's own.

$50 x 20000 members equals 1 mil which would ease the pain. What's our chances of getting $50 from each member though ?

We desperately need a major sponsor. The only way to attract one is to prove we are a club of moral standing that stays away from controversy.
Just maybe we are on the right track with our current players and staff.

[BigMart]

So it's ok to say the clubs in a precarious position now?

Or are we still being ridiculed for such a startling revelation?

[stinger]

was always going to be a bad result...

[saintbrat]

Yeah where does the detailed financials come out? Or is that it?

I want to look at these too...

is that included here
http://sainters.net/uploads/131223_Annu ... t_2013.pdf

[citywest]

What a load of ####. Ten years of 'success' and we have absolutely nothing to show for it. I told stupid BUTTHEAD at the AGM all those years ago that leaving Tassie was a short sighted decision which would one day come back and haunt the club. That day is today but BUTTHEAD is long gone. For the sake of our club I hope we embrace NZ to the max.

St Kilda should......no, St Kilda MUST play at least 3 home games in NZ every year. These games should be against Non Victorian teams but not Sydney (South Melbourne) and not Brisbane (Fitzroy). The last dozen years I have been comfortable that St Kilda had distanced itself from the no hopers Melbourne, Footscray and North Melbourne. Unfortunately we have put ourselves right back into that pack again. WHAT A F'ING JOKE.

[SemperFidelis]

If you trawl through the turgid "culture recap", this has quite a useful summary of the actual figures without trawling through the annual report. I would be fascinated to know how many and who (other than SW) actually fell into the payout category, because the comments suggest it was not limited to him.

http://www.theage.com.au/afl/afl-news/s ... 2zu6h.html

I actually liked the detailed letter from the Pres. It is as close to telling it like it is (with usual allowance for spin) that we have had for some years. The stark fall in our membership numbers from 2010 to now is pretty depressing. So, for the paid up and proud, let's all ask our wavering family members and mates to pull their fingers out and sign up. It doesn't address all of the structural financial issues, but it sure as hell makes us more attractive to sponsors who can help.

And, by the way, if you need a last minute gift, they're open all day at Linton St tomorrow. It will be a very saintly Christmas under our tree ...

And to save me from posting in another thread, Merry Christmas to all the Sainsational superstars. May 2014 give us all something, well, POSITIVE to post about ...

[suss]

The extended letter is comprehensive and says a few things that give me hope.

Getting back to Moorabbin is key and is acknowledged. I like the words "community engagement" but I am baffled that they have only just discovered that the area provides a big part of the membership. Who would have thought.

New Zealand is a goer. Makes us bucketloads and should maintained. Good to see he thinks the same.

Tassie was a fiasco but I can't see Hawthorn giving up the deal they have there. Not sure what he proposes to do now that the Tassie horse has bolted. What does one game a year against North do apart from pay their bills?

Etihad is another balls-up that can't be fixed. I'll be interested to see how he deals with that turd.

[Con Gorozidis]

I think 2014 will be another poor year on and off the field before we start our recovery in 2015.

No sponsors will touch us until the Milney trial is completed.

[whiskers3614]

"WE.. sort an increase in our overdraft!!!!!
SORT! How can we get anything else right if we can't send out a press release sans spelling mistakes!

[Johnny Member]

Why does anyone care about this?


Seriously, what does it matter to a fan?

[BigMart]

If we can't pay the bills... It'll become a massive issue for fans..

[70s sainter]

Why does anyone care about this?


Seriously, what does it matter to a fan?

Well for one i guess if the club was loaded it wouldnt be asking for handouts all the time. Plus we wouldnt have to sell any games to places like N.Z . Millions of extra dollars in spare cash prob only contribute 1-2% extra on field success in the end , but ultimately it could be the difference - who knows.
Maybe an elite training facility in elsternwick would have got a absolute gun free agent over the line when we will be looking in 5 years time to top up the list when we expect to be playing finals.
Anyway i guess low membership numbers means its easy to get a seat which is handy. If cash was everything coll would win every year.

[bigred]

Sigh.

I knew it would be bad....

But this is f***ed.

[Dave McNamara]

Why does anyone care about this?

Seriously, what does it matter to a fan?

Hi Johnny, yes it does matter to us fans. However, you are correct in that too many of us are over-reacting. When you get a moment, would you be so kind as to put up the link to where you posted a comprehensive explanation as to why we don't need to panic? Ta. (I'm sure you could find it quicker than I.)

[Dave McNamara]

A few people have posted re our lack of a major sponsor, and linked that to our 'controversies'... as did the outgoing Netters. I agree, but surely that can't be the full reason...?

Why are sponsors still with Effn'dope after what they've done? The greatest debacle in Oz sporting history!
Why are sponsors still with Effn'dope considering there's every chance that in season 2014 BJ will get to play in the midfield (and anywhere else) to his heart's content?
The Tuggers have been a joke for near on three decades. They've just played in their one finals series that they average per decade, so it's back to jokesville for them for maybe another ten years...
Then there's Carlscum and their history that is littered with a litany of very dodgy people carrying out very dodgy practices...
Then there's the Skunks...

Clearly sponsors are not that worried about being linked to 'bad publicity'.

So to me, that means one thing matters most with the sponsors... membership numbers.

IMHO we have the supporter numbers to match it with the above the 'axis of evil', but as many wise Saintsationalists have continually pointed out, and for reasons unknown...

we fail to translate supporter numbers into membership numbers.