Debt Reduction

Trunch · Post: # 1050540Post **Trunch** » Wed 23 Mar 2011 12:58pm

I see in an article on The Age website today that the Saints are considering a campaign to reduce their debt.

With Melbourne, Richmond and Western Bulldogs all recently launching campaigns to reduce their debt, it seems our club also has the sense to realise the importance of proper financial management and that repaying interest each year on monies borrowed is trap of treading water and not building on our future.

Greg Westaway and his board have delivered in the past. Our footy department spending is up (read 'The Bubble' to understand the lengths we know go to to provide our playing group with the best possible chance) and we have a wonderful new training facility.

To demolish our debt would see us in a position to be brave and bold and think of possible options such as fielding our own reserves team and making the St Kilda Football Club a Power House of the competition.

SENsei · Post: # 1050543Post **SENsei** » Wed 23 Mar 2011 1:16pm

Proper Financial Management does not equal going to the people with your hand out.

bigred · Post: # 1050544Post **bigred** » Wed 23 Mar 2011 1:16pm

Isn't fielding your own VFL side a more expensive option?

saintly · Post: # 1050545Post **saintly** » Wed 23 Mar 2011 1:19pm

SENsaintsational wrote:Proper Financial Management does not equal going to the people with your hand out.

they have not said yet how they will be reducing their debt.

by the way some debt can be good. and this type of debt from the saints is good.

Go Sainters Go · Wed 23 Mar 2011 1:40pm

What is the debt - didn't think we had any. Was cleared a year or two ago.

skeptic · Post: # 1050548Post **skeptic** » Wed 23 Mar 2011 1:40pm

i thought the saints were out of debt...

or is this more of a debt in figures for tax brakes type of debt

St Chris · Post: # 1050550Post **St Chris** » Wed 23 Mar 2011 1:49pm

Debt is related to building Seaford. I think we had to cough up around 2 mil, all of which was borrowed.

Anything short of rattling 'SOS' cans around the Waverley car park isn't really newsworthy anymore for us....

Trunch · Post: # 1050553Post **Trunch** » Wed 23 Mar 2011 1:52pm

Isn't fielding your own VFL side a more expensive option?

Yes I believe it is.

Im not sure St Kilda has expressed an interest in doing this. However should it be considered in the future we would most likely not undertake this move from a position of 2 million dollars debt.

I only raise this as a point of discussion. Do people think it is a coincidence that the last two premiers had control of their VFL teams? I don't know...I just wonder about Collingwood youngsters development and their ability to play their role effectively when promoted to the senior side. Is it because they are more effectively groomed to play Collingwood's game plan in a VFL side run by Collingwood.

I just wonder about player development at Sandringham. Great club and people involved no doubt but they are in the business of winning football games, not developing players for St Kilda.

Thoughts...

Go Sainters Go · Wed 23 Mar 2011 2:00pm

Just did a check of the Accounts. There is a Commercial Bill for $2,600,000 maturing October 2011 guaranteed by AFL - proberbly to do with the funding of Seaford.

St Chris · Post: # 1050559Post **St Chris** » Wed 23 Mar 2011 2:11pm

Trunch wrote:I just wonder about player development at Sandringham. Great club and people involved no doubt but they are in the business of winning football games, not developing players for St Kilda.

Thoughts...

Yeah, interesting. I notice when reading "The Bubble" that the guys playing at Sandy had extra sessions to work on the zone and structures etc.

You would think if they worked on this on gameday (as part of a Reserves team) it would free up time for more skills sessions, weights, cardio etc.

As far as I see it, finance is the only negative to having your own team. We have 2 pretty good ovals a team could play on (Moorabbin and Seaford), you'd need extra support staff (physios etc) but they would only be for match day, probably another coach (or use one of the existing development-type coaches).

But as we know, finance makes the world go round....

SENsei · Post: # 1050560Post **SENsei** » Wed 23 Mar 2011 2:15pm

saintly wrote:
SENsaintsational wrote:Proper Financial Management does not equal going to the people with your hand out.
they have not said yet how they will be reducing their debt.

by the way some debt can be good. and this type of debt from the saints is good.

I was responding to the OP who was drawing parallels with those other clubs with their debt reduction campaigns to raise money.

I hope we don't need to as this would show, like North Melbourne, that success for St Kilda onfield does not equal money in the bank.

plugger66 · Post: # 1050609Post **plugger66** » Wed 23 Mar 2011 5:32pm

Its a great idea and done properly the money usually comes from the rich. This isnt like an SOS campaign where we all had to chip in. If our debt is 2.5m it could be gone in one night.