Some history shouldn't just linger on

[The OtherThommo]

http://www.theage.com.au/afl/afl-news/f ... uvfl8.html

Would be fitting to finally deal with it, given the other steps forward, no matter who does and doesn't put their mitts in the air.

[linz]

We (the club was) were broke. I remember buying an alarm system by Huegall and Hoyle (our major sponsor of the day) at a fire sale fundraiser at the top floor of the Huggins stand.
Foxy was president at the time. The alarm system didn't work but hey!! I gave the club $335 as a donation. I wasn't rolling in cash either but I loved the Saints.

L Fox shouldn't be maligned too much.
He has donated to many charities without making it known to the masses.

Lately he paid for the use of Luna Park for the day so the intellectually disabled athletes of Special Olympics could have some fun.
No kudos, no fanfair, no mention in the news. Anyway, he's not a bad bloke and he's not stingy.

Don't worry, L Fox will help the cause when he realizes we're going the right way by helping ourselves. I could be totally wrong
but I believe he will be the benevolent father who donates support when we show signs of maturity in his eyes.

[To the top]

Fox was a very substantial client of ANZ

St Kilda banked ANZ

ANZ was the principal secured Trade Creditor, holding a Floating Charge Debenture over the assets and undertakings of the St Kilda FC.

It was imperative to the Scheme of Arrangement that ANZ agreed.

They did.

And I will let you read between the lines.

In these matters, there is the issue of preference, antecedent, contemporaneous and future.

No doubt, the acceptance of the Scheme of Arrangement by those who ensured it by voting in favor of it (including those who persuaded such a vote) should be acknowledged because without that Scheme of Arrangement being accepted by the necessary quorum of Trade Creditors, and particularly the secured Trade Creditor, there would not be a St Kilda FC today.

I would not understand that any representations could have been made other than the Scheme of Arrangement.

They were, of course, the times of the Football Club and the Social Club being separate entities.

[linz]

Fox was a very substantial client of ANZ

St Kilda banked ANZ

ANZ was the principal secured Trade Creditor, holding a Floating Charge Debenture over the assets and undertakings of the St Kilda FC.

It was imperative to the Scheme of Arrangement that ANZ agreed.

They did.

And I will let you read between the lines.

In these matters, there is the issue of preference, antecedent, contemporaneous and future.

No doubt, the acceptance of the Scheme of Arrangement by those who ensured it by voting in favor of it (including those who persuaded such a vote) should be acknowledged because without that Scheme of Arrangement being accepted by the necessary quorum of Trade Creditors, and particularly the secured Trade Creditor, there would not be a St Kilda FC today.

Great feedback by To the Top. I might change my banking to ANZ.

And here I was thinking I saved the Saints by buying a bung Huegall and Hoyle alarm system.
I reckon Lindsay might be helping a little bit at Moorabbin too.

I would not understand that any representations could have been made other than the Scheme of Arrangement.

They were, of course, the times of the Football Club and the Social Club being separate entities.

[magnifisaint]

The guy is worth 3.2 billion USD. You don't think a bit of spare change could solve this issue?

[bigred]

If he's worth that much he should pump 100mil into the place and make it a fkn super club.

lets not mess around.

[wally]

It's scary when you read that story, Fitzroy went under,remember that merger of Melb & Haw that nearly happened.
Footscray rattling tins remember Eddie giving free air time to help get sponsors to sign up.
We could have disappeared back then...gone.
I find it abit disappointing seeing the money the AFL make and pour into GC and GWS and now womens footy.
There's Vic clubs that will (including us ) always be struggling to survive.

It would be great if we could at least get rid of the current debt.

[remboy]

It's scary when you read that story, Fitzroy went under,remember that merger of Melb & Haw that nearly happened.
Footscray rattling tins remember Eddie giving free air time to help get sponsors to sign up.
We could have disappeared back then...gone.
I find it abit disappointing seeing the money the AFL make and pour into GC and GWS and now womens footy.
There's Vic clubs that will (including us ) always be struggling to survive.

It would be great if we could at least get rid of the current debt.

In the mid 80s most of the Victorian were stuffed financially. If the VFL hadn't gone national a lot of clubs would have been looking at merging or relocating like the Swans. Even Collingwood were stuffed. Don't let anyone tell you they were always rolling in money.

[To the top]

Collingwood had to provide a Bank Cheque to CUB to have deliveries for home games.

[To the top]

The broadcast rights, and particularly the television rights, deliver what they deliver to the AFL coffers.

Included in those Agreements is the maintenance of an 18 team competition, geographically located as those teams are.

On top of the AFL revenue streams, the Clubs have their own business models, some more successful than others and mostly revolving around gambling venues.

The upshot of this is that Clubs requiring financial assistance are supported by the AFL, in varying degrees and to, at least, ensure their survival.

These are well known facts.

However, in regards the revenue from the media agreements and the reliance on that revenue, it is interesting that very recently the 7 Network has significantly written down the value of assets on its Balance Sheet - and, more significantly, after the "intervention" of ASIC.

The same has applied to the "phoenix" 9 Network, again after the "intervention" of ASIC.

This "intervention" speaks very poorly of Stokes and Costello, as the Chairs respectively, and their Boards because Directors have responsibilities.

So what is the capacity of the television networks to continue their bidding frenzy for AFL broadcast rights?

And when the music stops, what happens?

[White Winmar]

Well, we'd better have a chair to sit on. If the revenue from media and TV rights dwindles, watch the carnage unfold.

[saynta]

Fox has never put his hand in his own pocket to the same extent for the club as he has for the brownbaggers where he was a
coterie member.

And thats being generous.

No time for the man.