Bulldogs eradicate debt with third straight significant profit

[Axe Man]

Re: Bulldogs eradicate debt with third straight significant profit

Debts can be as simple as invoices waiting to be paid (Accounts payable) on a balance sheet. It need not mean loans to be repaid.

The club have done a wonderful job from a financial perspective. Here's hoping we can maintain the balance sheet for years to come.

Yeah I'm an accountant, I was just trying to put it in simple to understand terms.

[jeemak]

Re: Bulldogs eradicate debt with third straight significant profit

Fantastic result. Now wait for the bigger clubs and the AFL to table chipping away our competitive balance concessions.

We need to be extremely smart with how we use our available funds.

[Smads57]

Re: Bulldogs eradicate debt with third straight significant profit

Thanks Woofers for explaining 'net debt' - was a little suspicious of what it actually meant when PG announced it last evening. I had one elderly long time Bulldog supporter come up to me and ask it this meant we no longer owed money to anyone - I suggested to her that we wait until we see the more formal reporting on the Bulldog website (as I had no idea what it actually meant).

[comrade]

Re: Bulldogs eradicate debt with third straight significant profit

Let's enjoy the moment but another season like 2017 will see us with falling membership numbers and corporate support.

No time to be complacent.

[jeemak]

Re: Bulldogs eradicate debt with third straight significant profit

Let's enjoy the moment but another season like 2017 will see us with falling membership numbers and corporate support.

No time to be complacent.

I agree, though I think once you prove you've got numbers corporate sponsors change their attitudes. All the market research data and subsequent estimations were no match for the support we demonstrated.

[josie]

Re: Bulldogs eradicate debt with third straight significant profit

Great news- well done Peter Gordon and Club. Imagine how good it will be when we win another cup in’18 or soon after?Agree we must not be complacent and whilst Gordon is at the helm cannot see that happening.

[ratsmac]

Re: Bulldogs eradicate debt with third straight significant profit

Well done to the Western Bulldogs fc and all involved. This is just awesome news. From rags to riches for the struggling ol dogs hey. I love this club and I'm so glad to have been around for the bad times because it makes the good times so much better.

[comrade]

Re: Bulldogs eradicate debt with third straight significant profit

I agree, though I think once you prove you've got numbers corporate sponsors change their attitudes. All the market research data and subsequent estimations were no match for the support we demonstrated.

I think sponsorship will continue to be strong (unless we completely implode), I'm more referring to the coteries, private support from wealthy benefactors and corporate types attending events and tipping money into the club. Everyone loves a winner.

And membership is a real concern...my old man was on the waiting list for gold membership post 2016 and has already been called to upgrade due to people already dropping off (which he did).

[always right]

Re: Bulldogs eradicate debt with third straight significant profit

Never thought I’d see this in my lifetime. Outstanding.

[choconmientay]

Re: Bulldogs eradicate debt with third straight significant profit

This is the article in the HS:

Western Bulldogs’ in strongest financial position in more than 40 years
MICHAEL WARNER, Herald Sun, December 6, 2017 5:07pm

WESTERN Bulldogs are trumpeting their first net debt position in more than four decades.

The Dogs yesterday declared a profit of $1.63 million for 2017 — their third consecutive $1m result.

Total club debt was as high as $9.75 million just two years ago but has fallen to about $3 million thanks to surging membership and commercial revenues.

The club has another $3.5 million cash in the bank.

“We are unable to recall the last time the club was in a position of having nil net debt. It is at least forty years. So that’s extremely satisfying,” outgoing Bulldogs chief Gary Kent said.

“The investment for growth has enabled the club to expand operations in Ballarat and provide for additional resources for marketing, membership services, commercial operations and our community programs.”

Football expenditure increased by $2.8 million to $25 million off the back of last year’s drought-breaking premiership.

A record 47,709 members signed on in 2017 — up 19 per cent.

Former St Kilda chief operating officer Ameet Baines takes over from Kent on Monday.

[Eastdog]

Re: Bulldogs eradicate debt with third straight significant profit

It is so great reading how well now we are doing on the financial front.

[westdog54]

Re: Bulldogs eradicate debt with third straight significant profit

This is the article in the HS:

Western Bulldogs’ in strongest financial position in more than 40 years
MICHAEL WARNER, Herald Sun, December 6, 2017 5:07pm

Its a bloody fantastic legacy for Kent to leave after his short time at the club. Credit to Simon Garlick and David Stephenson for their efforts as well.

[Ozza]

Re: Bulldogs eradicate debt with third straight significant profit

Its a bloody fantastic legacy for Kent to leave after his short time at the club. Credit to Simon Garlick and David Stephenson for their efforts as well.

Gary's last day today I believe. Has had a good 18 months or so.

[Twodogs]

Re: Bulldogs eradicate debt with third straight significant profit

This is the article in the HS:

Western Bulldogs’ in strongest financial position in more than 40 years
MICHAEL WARNER, Herald Sun, December 6, 2017 5:07pm

Are you sure that's us they are talking about? We are an irrelevant, broke, welfare dependent blight on the competition bludging off the better clubs superior output.

Did I miss anything?

Its a bloody fantastic legacy for Kent to leave after his short time at the club. Credit to Simon Garlick and David Stephenson for their efforts as well.

It's quite a coup for his CV isn't it? And you're right a lot if the situation we find ourselves in would be the result of the hard work they would have done.

[GVGjr]

Re: Bulldogs eradicate debt with third straight significant profit

An outstanding effort by everyone at the club. 3 years ago I thought we were 10 years away from being debt free.

We have many challenges coming up and we can't take the foot off the accelerator. Our position is still very reliant on membership and the commitment of our supporters so we all have a role to play.

How great will it be if we can back it up in 12 months with another $1M+ profit announcement?

The days of being known as the struggling club from the West will long behind us