Dogs Announce Record Profit

[bulldogtragic]

From the club's website:

The Western Bulldogs Football Club has announced an operating profit of $3,641,018 for the year ended 31 October 2016. It is the third consecutive year of profit for the Club.

The Club’s total revenue rose to a record $48.4 million, surpassing last year’s previous record of $41.3m.

The Club’s net debt reduced from $8.3m to $1.9m in the 12 month period.

The Club has this year taken a $1.9m impairment charge against the value of gaming entitlements acquired in 2009 for the discontinued Edgewater project, resulting in a statutory profit of $1,773,324.

Total membership for 2016 reached a record 40,081 members. Membership, social club waiting list and reserved seat sales are all tracking at record levels for season 2017.

The Club continued to grow its engagement, investment and support in community activities in the Western Region (including Ballarat), with a record 1,100 men participating in our Sons of the West Men’s Health program, as well as assisting in excess of 1,000 newly arrived adult migrants and refugees through our Ready, Settle, Go program and other programs.

The Club also won the 2016 AFL Premiership, VFL Premiership and the women’s competition Hampson-Hardeman Cup; and earned one of the inaugural licences in the AFLW competition to commence in 2017.

Western Bulldogs Chief Executive Officer Gary Kent said the Club was pleased with the 2016 financial results.

“We’re really proud of the progress our Club has made over the past few years, in all areas both on and off the field,” Kent said.

“Winning the 2016 AFL Premiership was a significant contributor to our financial results, but we are also pleased that the Club’s underlying business showed strong growth with commercial partnerships, membership, merchandise, fundraising and hospitality venues all performing strongly throughout the whole year.”

“The Club also saw record growth in game attendance, digital platforms and with 23.5m TV viewers the Western Bulldogs were the most watched sporting team in Australia.”

The Western Bulldogs Board thanked players, staff and all members and supporters for their roles in this season’s results on and off the field, and outlined key elements of the Club’s aspiration to grow and consolidate its position next year.

They are:

The successful introduction of our AFL women’s team,
The successful commencement of Ballarat home games at Eureka Stadium,
The negotiation of a fair stadium agreement at Etihad Stadium,
The Club’s continuing commitment to our community through the Western Bulldogs Community Foundation,
Continuing focus on developing our historic home the Victoria University Whitten Oval as a vibrant community hub and prime venue to showcase VFL and women’s football,
Continued progress on and off the field.
The Club’s Board also acknowledges at this time the retirement from the Board of its Vice President and long serving director Susan Alberti. Susan retires after an outstanding record of service to the Club, to women’s football and to football in general.

Exclusive to westernbulldogs.com.au

[bulldogtragic]

And we could afford a category b rookie. Another good year (as we are on track to have) and goodbye debt!!

[Murphy'sLore]

Absolutely fantastic. So proud.

[bulldogtragic]

If we are back in black by the end of next year, maybe we can consider not playing in Cairns. Surely two Ballarat games is enough to sell off.

[choconmientay]

Excellent news. We need to continue to build from here on. Still plenty of room to growth in the next few years to become a power club :)

[aker39]

The Club’s net debt reduced from $8.3m to $1.9m in the 12 month period.



BAD's going to be happy.

[bornadog]

BAD's going to be happy.

Let me see the finer detail first :D

[Topdog]

WOW 6m reduction in debt is awesome.

[Yankee Hotel Foxtrot]

What an amazing result to smash our debt levels by $6 million. That must be saving us an enormous amount of interest as well.

[ledge]

With membership looking to blow out to around 50,000 we should have our debt gone by next year and hopefully get a scoreboard for the Whitten oval! :-)

[bulldogtragic]

Now is when they should re-launch 'Bulldoze The Debt'.... Get the club debt free for January 1 2017 by getting everyone you know some Grand Final merchandise and/or a membership direct fom the club for Christmas pressies. Let's end the year celebrating our 2016 premiership and in turn is celebrate our back to back campaign debt free!

[ledge]

If we are back in black by the end of next year, maybe we can consider not playing in Cairns. Surely two Ballarat games is enough to sell off.

Not if the NT keep offering more money than we make playing in Melbourne we shouldn't.
Every cent counts and I would say it's quite a substantial amount to get us there again being premiers.

[bulldogtragic]

Let me see the finer detail first :D


What an amazing result to smash our debt levels by $6 million. That must be saving us an enormous amount of interest as well.

BAD, what's a rough guide for interest costs on 5 or 6% on $6M over a year?

I imagine our early financial modelling for next year was being drafted pre-Premiership.

[bulldogtragic]

Not if the NT keep offering more money than we make playing in Melbourne we shouldn't.
Every cent counts and I would say it's quite a substantial amount to get us there again being premiers.

We signed Cairns next year before the Premiership from memory. Someone posted a while back that we've lost every game the week after we've played in Cairns. What price is 4 premiership points from 2018 onwards? The difference between top 2, top 4?

We will essential be going in 2017 of one game in Cairns & Ballarat. In 2018 it will be two games in Ballarat. Surely that's enough extra revenue from sacrificing two Etihad home games that we don't need to sacrifice a third Etihad home game in 2018.

[always right]

Since when did Cairns move into NT?

[LostDoggy]

Tremendous financial results, Edgewater would have really hurt if we werent in such a good position. We would surely have one of the lowest debts in the comp now.

[craigsahibee]

Since when did Cairns move into NT?

I wouldn't put it past the NT administration to pay for a game that provided zero benefit to the Territory.

[Eastdog]

Just excellent for us as well on the financial front. Proud to be a Western Bulldog silver social member and proud to have purchased some premiership merchandise from the Bulldog shop - in the end it all adds up.

[Prince Imperial]

I wouldn't put it past the NT administration to pay for a game that provided zero benefit to the Territory.

They've been paying Melbourne for years to play two games a year there in front of dismal crowds so you might be right...

[I'm Not Bitter Anymore!]

Pretty sure my premiership memorabilia spending has contributed significantly

[hujsh]

Since when did Cairns move into NT?

Since we entered the post-factual world.

It's also on the Moon and Mars and in Werribee

[Greystache]

We were also the most watched sporting team in Australia this year.

[bulldogtragic]

We were also the most watched sporting team in Australia this year.

A fact that surely brings in a couple of new bigger team sponsors. Especially with our prime time exposure next year.

[Twodogs]

Let me see the finer detail first :D

I don't understand that 1.9m pokies thing. Does it mean we have added that to our debt so the debt isn't really 1.3m it's actually 3.2m?


We were also the most watched sporting team in Australia this year.

26 games would have helped especially the last four. But that's a good figure. A real "stick that up your arse AFEL" figure.

[bulldogtragic]

^^^

I took it to mean we wrote that debt off this year, meaning our declared and taxable profit is lower. So we pay less tax despite the profit looking slimmer.

[Twodogs]

So is our debt 1.3 or 3.2? Does the debt reduction include us paying the 1.9 and our debt is still 1.3? Or did we reduce the our debt down to 1.3 and then add the 1.9?

[FrediKanoute]

What an amazing result to smash our debt levels by $6 million. That must be saving us an enormous amount of interest as well.

Depends. Interest rates worldwide are at historic lows, so if the debt was negotiated post GFC then it's likely to be low. Still though, not having a 6m noose is great.

[FrediKanoute]

I don't understand that 1.9m pokies thing. Does it mean we have added that to our debt so the debt isn't really 1.3m it's actually 3.2m?



26 games would have helped especially the last four. But that's a good figure. A real "stick that up your arse AFEL" figure.

're the pokies thing. When we acquired the licences we would have booked them as an asset on the balance sheet, as well as the development costs at Edgewater. If we have abandoned the project you need to release the costs that no longer have any value to the PnL. Basically, this is a non-cash adjustment to your profit number.

[bulldogtragic]

So is our debt 1.3 or 3.2? Does the debt reduction include us paying the 1.9 and our debt is still 1.3? Or did we reduce the our debt down to 1.3 and then add the 1.9?


're the pokies thing. When we acquired the licences we would have booked them as an asset on the balance sheet, as well as the development costs at Edgewater. If we have abandoned the project you need to release the costs that no longer have any value to the PnL. Basically, this is a non-cash adjustment to your profit number.

What Fredi said. In a nutshell we reduce our profit as the project is a loss. It reduces our tax liability too I presume.

[Webby]

So, hang on... If we've copped a $1.9M whack and our debt now sits at precisely $1.9M, it would seem to me that a benefactor or benefactors have come in at some stage and written a cheque to wipe the club's debt..

Seems too much of a coincidence to me. Wonder who the fairy godmother is??

[Nuggety Back Pocket]

We signed Cairns next year before the Premiership from memory. Someone posted a while back that we've lost every game the week after we've played in Cairns. What price is 4 premiership points from 2018 onwards? The difference between top 2, top 4?

We will essential be going in 2017 of one game in Cairns & Ballarat. In 2018 it will be two games in Ballarat. Surely that's enough extra revenue from sacrificing two Etihad home games that we don't need to sacrifice a third Etihad home game in 2018.
Two games in Ballarat is still highly questionable given the prospect of a largely much better deal at Etihad.
More games at the 'G' the best football stadium in the world should be our number one priority given the exciting possibility of a much bigger membership base. Previous traditional strong clubs such as Carlton and Essendon have gone backwards since opting for Etihad as its home ground.

[westdog54]

Two games in Ballarat is still highly questionable given the prospect of a largely much better deal at Etihad.
More games at the 'G' the best football stadium in the world should be our number one priority given the exciting possibility of a much bigger membership base. Previous traditional strong clubs such as Carlton and Essendon have gone backwards since opting for Etihad as its home ground.

I swear I had to scroll back up and check that Eastie hadn't written this when I got to the second paragraph.

[LostDoggy]

#$%& I love ths club.
The supposed Big Four Clubs lookout!!!!
#Herewecome

[GVGjr]

I remember writing something on here saying how great it would be to be returning a profit of around 1M. At that time I thought it was years off. 3.6M now is beyond anything I would have thought possible.

Sensational effort by the club and something we should all be proud of.

[hujsh]

Two games in Ballarat is still highly questionable given the prospect of a largely much better deal at Etihad.
More games at the 'G' the best football stadium in the world should be our number one priority given the exciting possibility of a much bigger membership base. Previous traditional strong clubs such as Carlton and Essendon have gone backwards since opting for Etihad as its home ground.

Wasn't there an announcement just this week that we'd play two games there in 2018?

Ballarat is clearly seen as more than a few one off revenue injections like Cairns but rather a potential second supporter base and long term investment/mutually beneficial relationship.

[bornadog]

So is our debt 1.3 or 3.2? Does the debt reduction include us paying the 1.9 and our debt is still 1.3? Or did we reduce the our debt down to 1.3 and then add the 1.9?

Reading the press statement, the debt has been reduced to $1.9m. The other figure mentioned ie $1.9m effecting taxable profit is a write down of the goodwill we booked into the balance sheet back in 2009 against the forecast gaming revenue/profit to be received. We ae now out of Edgewater so we need to write it off. Has nothing to do with the debt, except a coincidence the figure is the same.

[Twodogs]

're the pokies thing. When we acquired the licences we would have booked them as an asset on the balance sheet, as well as the development costs at Edgewater. If we have abandoned the project you need to release the costs that no longer have any value to the PnL. Basically, this is a non-cash adjustment to your profit number.


What Fredi said. In a nutshell we reduce our profit as the project is a loss. It reduces our tax liability too I presume.

Cheers guys. So really the money never actually existed as an amount passed from one party to another party but more of a figure that shifted from balance sheet to balance sheet in order to pay for an amenity that was never used in a building that never existed.

Or do we have to actually hand over 1.9m to somebody? Is it the money we payed for licences for pokies that we weren't using maybe?


*edit* Never mind, I missed BAD's explanation which pretty much answers my questions *edit*

[Bulldog4life]

Congratulations to the Club for the fantastic job it has done all round this year. We are in such a strong position now on and off the field. October 2014 seems like an eternity ago. Imagine what the balance sheet will look like after we win the 2017 premiership!

[bulldogtragic]

Cheers guys. So really the money never actually existed as an amount passed from one party to another party but more of a figure that shifted from balance sheet to balance sheet in order to pay for an amenity that was never used in a building that never existed.

Or do we have to actually hand over 1.9m to somebody? Is it the money we payed for licences for pokies that we weren't using maybe?


*edit* Never mind, I missed BAD's explanation which pretty much answers my questions *edit*

Cool. It's the only good thing to come of Edgewater, in that our annual profit is reduced by $1.9M and assuming the company tax rate is still around 30% that means the write off saves us paying roughly $570,000 tax to the government.

[aker39]

I swear I had to scroll back up and check that Eastie hadn't written this when I got to the second paragraph.

I thought exactly the same.

[hujsh]

One person posted on 'The Other Site' that as our net debt was reduced we might not have actually payed off all of that debt but may instead be holding more cash, cash equivalents and liquid assets. relative to our debt.

Was a good pickup I thought.

[aker39]

Cool. It's the only good thing to come of Edgewater, in that our annual profit is reduced by $1.9M and assuming the company tax rate is still around 30% that means the write off saves us paying roughly $570,000 tax to the government.

The club doesn't pay tax. It's a not for profit organisation, meaning any profit is used within the club, not paid out to shareholders like a normal company would.

Just to clear up the pokies thing. The club actually paid $1.9m for the pokies licences. That amount was posted to the balance sheet as it is an asset that makes the club money.

As it is now clear that it's no longer an asset that exists it has to be taken out of the balance and shown in the P&L as a loss.
As BAD said the $1.9m debt and $1.9m loss is just a coincidence.

[Twodogs]

One person posted on 'The Other Site' that as our net debt was reduced we might not have actually payed off all of that debt but may instead be holding more cash, cash equivalents and liquid assets. relative to our debt.

Was a good pickup I thought.

Instead of clearing the entire debt we have kept some cash to hand?

Like when your tax return comes and instead of clearing all of your visa debt you pay most of it off and save some to fly to the Gold Coast for the weekend instead?

[hujsh]

Instead of clearing the entire debt we have kept some cash to hand?

Like when your tax return comes and instead of clearing all of your visa debt you pay most of it off and save some to fly to the Gold Coast for the weekend instead?

Well I'd be surprised if we dumped all our cash into the debt since we need to keep operating.

That said I feel like I saw Gordon getting on a plane to the Gold Coast. Must be a coincidence.

[Greystache]

Instead of clearing the entire debt we have kept some cash to hand?

Like when your tax return comes and instead of clearing all of your visa debt you pay most of it off and save some to fly to the Gold Coast for the weekend instead?

Not quite. I don't know the structure of the debt we hold, whether it's a business overdraft, market facility, or in all likelihood a combination of a couple of things, but I'd imagine we're holding some cash that's offset against the debt so it can be accessed at short notice but reduces interest payable.

Sort of like if you owe $100K on your mortgage and have $150K in savings you may prefer to sit the $150K in an offset account rather than pay off your home loan. You won't pay any interest but you have the flexibility of having cash available for emergencies or renovations without having to apply for new finance.

[Mantis]

Some of this talk is getting a little deep, all I have to say it's nice to read we are getting ourselves into a better financial position which means I'm much more confident my kids will be able to get the same pleasure (and heartache) out of watching our team as I have.

The giant has awoken.. Finally.

[Twodogs]

Well I'd be surprised if we dumped all our cash into the debt since we need to keep operating.

That said I feel like I saw Gordon getting on a plane to the Gold Coast. Must be a coincidence.


Heh! He's the last bloke who'd do a Mandic and shoot through with the club's proceeds. He payed most of them in first place. :)


Not quite. I don't know the structure of the debt we hold, whether it's a business overdraft, market facility, or in all likelihood a combination of a couple of things, but I'd imagine we're holding some cash that's offset against the debt so it can be accessed at short notice but reduces interest payable.

Sort of like if you owe $100K on your mortgage and have $150K in savings you may prefer to sit the $150K in an offset account rather than pay off your home loan. You won't pay any interest but you have the flexibility of having cash available for emergencies or renovations without having to apply for new finance.


Yeah. Best to have readies instead of borrowing money at a higher interest rate than your deposits are getting? Are we at that stage where we can make strategic decisions about what we do with our money instead of having to react to whatever the biggest crisis happens to be and dance to the AFEL's tune in order to get subsistence money. Less often anyway.

[FrediKanoute]

Cheers guys. So really the money never actually existed as an amount passed from one party to another party but more of a figure that shifted from balance sheet to balance sheet in order to pay for an amenity that was never used in a building that never existed.

Or do we have to actually hand over 1.9m to somebody? Is it the money we payed for licences for pokies that we weren't using maybe?


*edit* Never mind, I missed BAD's explanation which pretty much answers my questions *edit*

No sure if this was answered, but basically we are expensing cash spent in a prior period. It's already been paid for, just the aseet has no value any more

[westdog54]

No sure if this was answered, but basically we are expensing cash spent in a prior period. It's already been paid for, just the aseet has no value any more

Sums it up succinctly .

[Ozza]

I don't know how I feel about supporting a club that is making strong profits, is in no danger of having to merge or fold and has a swelling supporter base that is set up to capitalise on the growth area of its homeland.

It just doesn't feel right!

It all seriousness, the club has done a hell of a lot right, over a long period now.

I'm also really pleased for Mission Foods - who backed us nearly 8 years ago as our major sponsor - and hopefully are sitting there really pleased with their decision to stick with us.

[ledge]

I don't know how I feel about supporting a club that is making strong profits, is in no danger of having to merge or fold and has a swelling supporter base that is set up to capitalise on the growth area of its homeland.

It just doesn't feel right!

It all seriousness, the club has done a hell of a lot right, over a long period now.

I'm also really pleased for Mission Foods - who backed us nearly 8 years ago as our major sponsor - and hopefully are sitting there really pleased with their decision to stick with us.

If they weren't they wouldn't be on board .. They are getting huge coverage not even what they would have thought possible.
I would say they would have got a cheap deal to in the beginning seeing we were struggling to exist we would have practically thrown a deal of any sort at them just to get a major sponsor.

[Twodogs]

Good point about Mission Foods Oz. They backed a small club when we had low crowds and little interest from broadcasters and the media. I'm glad someone at their organisation had the cajoles to back us and I hope that person has been suitably rewarded for buying in when they did and then watching their brand exposure go gangbusters.

[Ozza]

If they weren't they wouldn't be on board .. They are getting huge coverage not even what they would have thought possible.
I would say they would have got a cheap deal to in the beginning seeing we were struggling to exist we would have practically thrown a deal of any sort at them just to get a major sponsor.

I don't know what the current deal is - but their first sponsorship deal with the club was $4.5Mil for 3 years. I'm not sure what typical major sponsorships are - but to me, that seems significant - rather than a 'cheap deal'.

[jeemak]

I don't know what the current deal is - but their first sponsorship deal with the club was $4.5Mil for 3 years. I'm not sure what typical major sponsorships are - but to me, that seems significant - rather than a 'cheap deal'.

That's it. At the time we went up against three other clubs, though initially Mission approached Collingwood and Spaghetti sent them our way and put in a good word for us.

[Throughandthrough]

Mission Foods presumably had a "if the Dogs win the Flag you owe us $$$$ extra" clause in their contract. I think they got their $$$ worth just from the Hensworth tweet!

[Prince Imperial]

The club has today finally made available the 2016 Financial Report (the AGM is on Monday):

http://s.afl.com.au/staticfile/AFL%20Tenant/WesternBulldogs/Club%20Promos/Club%20Promos%202016/FIN0005%202016%20Financial%20Report%20LR.pdf

Some initial observations:

- As expected, the club has significantly more current assets (particularly cash) to meet current liabilities (creditors and borrowings). Given the cash that flowed into the club in October, I'd reckon they were still working out what to do with it at the date of the report (31 October) so I would think it's likely they would have reduced these liabilities since then with the extra cash.
- Borrowings reduced from about $5.6m to $4.1m a highlight.
- Much bigger profits from the hospitality venues, membership, sponsorship and of course merchandise.
- EML signed as coaches sponsor for the next three seasons.

[bornadog]

The club has today finally made available the 2016 Financial Report (the AGM is on Monday):

http://s.afl.com.au/staticfile/AFL%20Tenant/WesternBulldogs/Club%20Promos/Club%20Promos%202016/FIN0005%202016%20Financial%20Report%20LR.pdf

Some initial observations:

- As expected, the club has significantly more non-current assets (particularly cash) to meet non-current liabilities (creditors and borrowings). Given the cash that flowed into the club in October, I'd reckon they were still working out what to do with at the date of the report (31 October) so I would think it's likely they would have reduced these liabilities since then with the extra cash.
- Borrowings reduced from about $5.6m to $4.1m a highlight.
- Much bigger profits from the hospitality venues, membership, sponsorship and of course merchandise.
- EML signed as coaches sponsor for the next three seasons.

Cheers Prince Imperial. Borrowings are still sitting at $4.1m and seems to have only been reduced by $1.5million.

[bulldogtragic]

Cheers Prince Imperial. Borrowings are still sitting at $4.1m and seems to have only been reduced by $1.5million.

I wonder, are they bank borrowings or Gordon/Alberti borrowings which may not need repaying if those are the wishes of these two amazing people?

[Prince Imperial]

I wonder, are they bank borrowings or Gordon/Alberti borrowings which may not need repaying if those are the wishes of these two amazing people?

Note 15 of the report indicates that they are with Westpac. Gordon has in the past lent us $1m which he then forgave and donated to the club.

[bulldogtragic]

Note 15 of the report indicates that they are with Westpac. Gordon has in the past lent us $1m which he then forgave and donated to the club.

Westpac should buy $4.1M in sponsorship with us.

[jazzadogs]

I'm not very financially minded...how does this translate to the spin that we wiped off most of our debt?

[bornadog]

I'm not very financially minded...how does this translate to the spin that we wiped off most of our debt?

Yes we need answers.

[Prince Imperial]

I'm not very financially minded...how does this translate to the spin that we wiped off most of our debt?

The club stated that "net debt" had reduced to $1.9m and I'm not really sure how they have calculated this figure based on the report. However, the report does indicate that we have a lot more cash and receivables (money owed to us by our debtors) so they are at least broadly right.

[bornadog]

The club stated that "net debt" had reduced to $1.9m and I'm not really sure how they have calculated this figure based on the report. However, the report does indicate that we have a lot more cash and receivables (money owed to us by our debtors) so they are at least broadly right.

Fact is we haven't paid off the major borrowings for a long time. At least some inroads into it now.

[Cyberdoggie]

As expected it's a great result.

Few concerns though!, we need to capitalize on it both on and off the field.
If we fall away performance wise, we are still one of the smaller clubs around, so this sudden boom needs to be used to recover from all these years of being disadvantaged and put us on a level playing field.

Sponsorship: Ok 1 sponsor coming on is good in EML, and ASICS, are they an increase over BLK? or have we just transitioned from them to ASICS because of the financial issues of BLK?
Not sure about everyone else but I was hoping for more to come on board. Mission have been awesome but surely there is another major sponsor that can see what a winner really is? I know a lot of the major car makers are already traditionally aligned to clubs, what about Mitsubishi, Isuzu or Honda? or other big name brands or banks etc?

[bulldogtragic]

As expected it's a great result.

Few concerns though!, we need to capitalize on it both on and off the field.
If we fall away performance wise, we are still one of the smaller clubs around, so this sudden boom needs to be used to recover from all these years of being disadvantaged and put us on a level playing field.

Sponsorship: Ok 1 sponsor coming on is good in EML, and ASICS, are they an increase over BLK? or have we just transitioned from them to ASICS because of the financial issues of BLK?
Not sure about everyone else but I was hoping for more to come on board. Mission have been awesome but surely there is another major sponsor that can see what a winner really is? I know a lot of the major car makers are already traditionally aligned to clubs, what about Mitsubishi, Isuzu or Honda? or other big name brands or banks etc?

I've long thought we should pursue News Corp, Rupert isn't ironed on to a team. If they got the back of the jumper we could change the logo to the newspaper owned by them to what state we are playing in. It's a perfectly tailored sponsorship arrangement. If we could get them, you'd hope NC could help us with exposure on TV, pay TV and newspapers. So what if Rupert owns our souls, I know I'm happy to part with mine for the good of the club.

[bornadog]

BAD's going to be happy.


Let me see the finer detail first :D

Well I am not happy with borrowings still at $4.1 million. ;) Happy we reduced it by $1.5million.:)

[hujsh]

I'm not very financially minded...how does this translate to the spin that we wiped off most of our debt?


Yes we need answers.

It was pointed out at the time that it was net debt (which Prince Imperial reiterated) so all it meant was we had more assets relative to the debt

[Drunken Bum]

I've long thought we should pursue News Corp, Rupert isn't ironed on to a team. If they got the back of the jumper we could change the logo to the newspaper owned by them to what state we are playing in. It's a perfectly tailored sponsorship arrangement. If we could get them, you'd hope NC could help us with exposure on TV, pay TV and newspapers. So what if Rupert owns our souls, I know I'm happy to part with mine for the good of the club.

I'm not sure i could in all good conscience continue supporting the team if that was to occur, as much as i love the club it is not unconditional

[ledge]

Well this year is already going to give us more than last year in membership and merchandise , plus the better deal with Etihad and bigger crowds, better time slots, next year is the time to consolidate for the year after that's the key.

[Greystache]

I've long thought we should pursue News Corp, Rupert isn't ironed on to a team. If they got the back of the jumper we could change the logo to the newspaper owned by them to what state we are playing in. It's a perfectly tailored sponsorship arrangement. If we could get them, you'd hope NC could help us with exposure on TV, pay TV and newspapers. So what if Rupert owns our souls, I know I'm happy to part with mine for the good of the club.

I think that ship has sailed BT, New.com.au/Herald-Sun are merely a more biased version of the Essendon FC website these days.

[Throughandthrough]

I we were sponsored by News Corp you'd have to pay to read anything about the dogs



"You won't believe how the dogs went in the AFL grand final today"

[Bulldog4life]

I think that ship has sailed BT, New.com.au/Herald-Sun are merely a more biased version of the Essendon FC website these days.

Exactly G man. It has been one article after another about the Bummers for the last 2 months. Ridiculous.

[always right]

It may not be too many years before our club is sponsoring News Corp. Print revenues ain't what they used to be.

[GVGjr]

I'm still very pleased that the club has made some significant steps towards eliminating the debt and setting us up for financial stability over the longer term.
It's a long journey and was never going to be fixed even by the ultimate success we should be all so proud to have been a part of.

I hope so many of our supporters don't sit back and think winning the flag last year is enough because it isn't. We still need to continue to dig a bit deeper financially when we can and encourage others to come along for the ride. People and hopefully more sponsors want to be associated with winners and we are just that.

I suspect given the huge response to memberships we will be well ahead of our budgets and targets so if we can back up and generate another boom profit we will make further inroads in reducing the debt a bit further this year.

We are still in a marathon race but we are certainly in a far better position than we were 12 months ago.