AGM and financials

[saintbrat]

2019 AGM is Dec 18th at 7 pm at RSEA park moorabbin
Finances have been posted
https://m.saints.com.au/news/2019-11-28 ... al-results

[saintbrat]

the Annual report can be read here
https://s.afl.com.au/staticfile/AFL%20T ... ub2019.pdf

[The Fireman]

thanks for that.

[chook23]

The club was preparing to post an operating profit of $383,208 before making some recent decisions on the timing of player injury and contract payments over the 2019 and 2020 financial years.

As a result of bringing forward payments from 2020 to 2019, the club posted a loss of $323,975 before interest, tax and depreciation (EBITDA).


Disappointing result....

[Enrico_Misso]

Sort of in the black.
Better result than I expected.

[B.M]

Not really wiping out the debt are we?

[Nick_BlueNRG]

Not really wiping out the debt are we?

Does it say anywhere how much of our $12Mill debt we have paid off?

[The Barometer]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

[Nick_BlueNRG]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

[The Fireman]

a flag will help reduce the debt...debt is a part of life. Nick Blue..mate you have no idea.

[saintbrat]

Wednesday evening for those interested.

[Life Long Saint]

I've worked out that if I post my opinion in this font and colour, and make it glow, I am instanly right and anyone that disagrees is a buffoon!

[saintspremiers]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

[Nick_BlueNRG]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

[Special]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

I doubt it buddy, and it’s hilarious to think anyone can post anything dumber than yourself!

btw Japan has had them.

https://www.google.com.au/amp/s/www.nyt ... s.amp.html

[The Barometer]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

I doubt it buddy, and it’s hilarious to think anyone can post anything dumber than yourself!

btw Japan has had them.

https://www.google.com.au/amp/s/www.nyt ... s.amp.html

Also happening in Denmark.

[saintspremiers]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

I doubt it buddy, and it’s hilarious to think anyone can post anything dumber than yourself!

btw Japan has had them.

https://www.google.com.au/amp/s/www.nyt ... s.amp.html

Also happening in Denmark.

Can you please post in that shaded red font so we can all read it please?

[The OtherThommo]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

This octogenarian has very few peers, if any - https://en.wikipedia.org/wiki/Michael_H ... economist)

https://michael-hudson.com/2019/08/nega ... t-jubilee/

https://michael-hudson.com/2019/07/the- ... -meltdown/

So, no, the statement wasn't even close to 'dumb'.

With the RBA rates @ 0.75%, and CPI (fantasy land, but 'official') @ 2'ish %, that's 'negative real', now, with 'negative nominal' on the horizon.

And, if the RBA flick this switch, that horizon will come much closer, and quickly - https://www.abc.net.au/news/2019-12-07/ ... y/11775606

[Nick_BlueNRG]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

This octogenarian has very few peers, if any - https://en.wikipedia.org/wiki/Michael_H ... economist)

https://michael-hudson.com/2019/08/nega ... t-jubilee/

https://michael-hudson.com/2019/07/the- ... -meltdown/

So, no, the statement wasn't even close to 'dumb'.

With the RBA rates @ 0.75%, and CPI (fantasy land, but 'official') @ 2'ish %, that's 'negative real', now, with 'negative nominal' on the horizon.

And, if the RBA flick this switch, that horizon will come much closer, and quickly - https://www.abc.net.au/news/2019-12-07/ ... y/11775606

Say what you like, interest rates on LOANS will never be negative. We have a LOAN of over $10Mill. Even at 2% interest that is still $200,000 down the drain per year.

[BarryGrogan]

Even at 2% interest that is still $200,000 down the drain per year.

Not if you're getting 4% return on the investment you borrowed the money for.

[longtimesaint]

Focus should not be on wiping out debt. I hope we are paying the minimum off and investing everything we can into the club. Members, sponsors, bums on seats- we need positive operating cash flows to grow. Then the debt will take care of itself. To do this we need to give everyone involved every opportunity to improve the club, hence we need to invest in players, facilities and staff. Given where we have been not a terrible result but still a lot of work to do.

I disagree very strongly. We must pay off the debt as soon as humanly possible. When the AFL decide it is time to reduce the amount of Victorian teams they will be looking at us because of our huge debt. North are now debt free, so to Melbourne. The Bulldogs may have some debt but not much and remember it has only been 3 years since they won the flag so they are going nowhere. We are firmly in the gun WHEN the AFL decide it is time.

The sooner we are debt free the sooner we will be safe. If you believe anything to the contrary you need to get rid of your Rose-Coloured-Glasses.

Your opinion is irrelevant btw.

I agree with LLS about our debt. Interest rates are very low and likely to go lower. I’ve heard from experts they could possibly go negative even!

As long as the AFL are happy with our financials that’s all that’s important.

We need to grow our footy IP and become a smarter club - which we have done by replacing Richo and some others. together with the great Lethlean

So I will be able to go to the bank and borrow money for a new house and the bank will pay me for my trouble?

This is the dumbest statement I have ever seen.

Post of the year!!!!!

This octogenarian has very few peers, if any - https://en.wikipedia.org/wiki/Michael_H ... economist)

https://michael-hudson.com/2019/08/nega ... t-jubilee/

https://michael-hudson.com/2019/07/the- ... -meltdown/

So, no, the statement wasn't even close to 'dumb'.

With the RBA rates @ 0.75%, and CPI (fantasy land, but 'official') @ 2'ish %, that's 'negative real', now, with 'negative nominal' on the horizon.

And, if the RBA flick this switch, that horizon will come much closer, and quickly - https://www.abc.net.au/news/2019-12-07/ ... y/11775606

Say what you like, interest rates on LOANS will never be negative. We have a LOAN of over $10Mill. Even at 2% interest that is still $200,000 down the drain per year.

The debt is not a major issue when t has been used to create a facility potentially worth 40 million.
In addition to that the debt is underwritten by the AFL so is not a concern.
As we become a contender membership, gate takings and sponsorship will reduce this debt.

[Vazelos]

I’ve read all of the comments here and I do thinks it’s somewhere in the middle re Harding our debt.
Firstly some of the 12 million dollar debt is interest free from the AFL not all but owing money to the AFL makes us accountable to them and that’s not a good thing.
Bassat has mentioned the debt has to be paid off and it is a priority so anyone saying it’s no big deal is wrong but saying that it’s stupid to Under capitalise the business by paying it off too soon and not allowing in key areas of the business where we can grow revenues and achieving on field success that goes hand in hand.

[Vazelos]

I’ve read all of the comments here and I do thinks it’s somewhere in the middle re Harding our debt.
Firstly some of the 12 million dollar debt is interest free from the AFL not all but owing money to the AFL makes us accountable to them and that’s not a good thing.
Bassat has mentioned the debt has to be paid off and it is a priority so anyone saying it’s no big deal is wrong but saying that it’s stupid to Under capitalise the business by paying it off too soon and not allowing in key areas of the business where we can grow revenues and achieving on field success that goes hand in hand.

[8bloggs]

Saints AGM 18th December 2019: Notes - please excuse any mis spellings of names.
Board members were all dressed in Saints gear, unlike previous years when they were wearing business attire.
Claire White started proceedings, an introductory video was played featuring Nick Riewoldt who was laying the challenge for the club to go to the next level.
Matt Finis:
Made acknowledgements to: Life members, Auditors and Board members
Spoke about annual financial report – refer to notes in the printed version
Andrew Bassett – President’s report:
More members now than same time last year, 34,000 pre xmas, aiming for 50,000
Financial results - refer to notes in the printed version of the annual report
On field results – 2019 impacted by loss of key players to injury; recruitment of 5 senior players; Ratten new senior coach; appointments of David Rath & Roughhead; Lethlean busy with changes; thanks to Richardson and Jack Steven; introduction of women’s team into AFLW; returning to Moorabbin; death of Danny Frawley; focus on on-field success now
Matt Finnis:
Questions re financial report: no questions asked.
Election of Board members: re-appointment of Andrew Bassett, appointment of new members Adam Hilton and Jen Douglas. All automatically elected as no other candidates.
General Questions from the Audience:
1. Removal of gaming machines – no change in the current position of the Club i.e. aim is to transition out in the long-term, but retain in the short term particularly given recent capital works; also aiming to diversity club’s revenue stream so not reliant on gaming revenue
2. Tribute to Danny Frawley – Club has discussed this with Danny’s family and has held off making announcement out or respect for Danny’s family to allow them sufficient time to go through the grieving period; Club is planning on dedicating a home game as a tribute match in recognition of Danny and his work in the mental health area; Club will announce a ‘long-term’ measure in the new year
3. Introduction of new Board members (Hilton and Douglas) – Bassett apologised for not providing an introduction of the new Board members to the audience and asked for each of them to speak. Hilton – long-term Saints supporter, worked in Advertising, will focus helping the Club in the Commercial activities and Marketing. Douglas – Saints supporter, lives locally, lawyer, focus on assisting Club supporters, the women’s and men’s teams
4. Club reaction to Hawthorn moving to Dingley – should not impact the Saints: Moorabbin move has brought club back to its homeland and its people; aim is to ‘own the South’ by converting the latent fan base across the area into members as soon as possible (which Hilton and Douglas will help with); extend work in schools and local clubs to ensure loyalty to the Club
5. Raising revenue and eliminating debt – retaining Dare and getting Deliveroo as sponsors is good; Hilton and Douglas appointments will help; new initiative with Holmeslglen to provide a new qualification with the Club will help; on-field performance expected to improve going forward.
6. Future of Sandringham affiliation – games at Marvel at Moorabbin, good to access Trevor Barker oval for games given demand for Moorabbin oval from all clubs.
7. Update on new stand at Moorabbin – town planning approval has been obtained and funding secured; decided to defer commencement of construction until the AFLW season is completed
8. Where the Southern Saints will be based – VFLW team to be based at Sandringham
9. Kevin Neale – Barry Breen does a lot of work to support the 66 team players; it was good to get past players together to celebrate with Kevin recently
10. Restaurant at Moorabbin for supporters – it comes down to space available; still wotking through whether it could be accommodated in the café/social club/function room area; also depends on whether it would be commercially viable which is not evident yet; but want to do it
11. How long is the Club committed to playing games overseas – current deal is for 3 years; $1m revenue from it last year was very good; but recognise that we must be competitive in these games
12. Overseas games – this was not so much a question as a comment that our Club was the only one venturing into the overseas market
13. Is New Zealand off the agenda – it is ‘nowhere near our current priorities’ at present
14. Lights for South Road and Linton Street – Council and VicRoads are considering it; is also relevant for staff and safety; Club hoping it is not expected to help pay for it.
15. Is the Seaford site a Club asset – the leasehold is an asset; discussions with Frankston Council on option for how best to utilise it; it is important to retain our presence in this area
Presentation of John Moran memorial award by Andrew Bassett to Steven Byrne (apologies if I have got the name/spelling wrong)
Video of the players’ recent activities – Tiwi Islands. Pre-season week one, AFLW pre-season, Barwon Heads training camp, honour guard by men’s team for women’s team.
Brett Ratten:
Focus on increasing connections across players, coaches, women’s team; culture e.g. Darwin & Longy; game plan change – players are buying into it; ‘identity’ is in good shape; healthy list; good time trials has enabled early focus on improving skills, have made ‘the first step forward’.
New Players
Brad Hill – quality; Jones – run and carry, intellectual property from the Swans; Howard – 200cm key defender 10 years and leadership; Butler – absent from meeting, successful history; Ryder – all Australian ruck whose knowledge will help Marshall; Abbott - help provide team balance
Draft Picks
‘Ronnie’ Byrnes – Sandy Dragons captain, explosive power, ‘a steal’; Connolly – beuaitfully balanced, in the top8 to 10 players on the list for skills; Bell – 202cm ruck, take time to develop, launches well, good below the knees.
Overall – team is in good shape
Claire White announced winners of the 3 door prizes and the meeting finished around 8:05 pm.

[saynta]

Thanks for posting.