$4.2M Profit in 2018

[taztiger4]

https://s.afl.com.au/staticfile/AFL%20Tenant/Richmond/Files/Concise%20Financial%20Report%202018.pdf

 

[MurrayValleyTiger]

Fantastic

 

[Mr Brightside]

Is it a fantastic result?

I'd love to hear this analysed by those in the financial know.

I’m not sure either TBR, however it can’t be bad considering we didn’t have Dreamtime or Anzac Day eve this year. I’d like to think it’s a great job again by Peggy, Benny an co

 

[caesar]

Is it a fantastic result?

I'd love to hear this analysed by those in the financial know.

Me too particularly AL, (Aligned Leisure) and RISL, (Swinburne Partnership):

"Both AL and RISL were key undertakings of the Board to ensure we diversified the Club’s revenue streams so as to
reduce our reliance on football-generated revenues. It is pleasing to see both operations performing so strongly".

Revenue and Profit are two different things aren't they? Does it show anywhere if these two businesses are operating at a profit and if so how much?

Am a bit confused, The Swinburne name adorns our facilities but are they a Sponsor or just a business partner?

 

[turk-d-tiger]

I might sound like a bit of a spoil sport but after the last 18 months we have had - Im disappointed and think the number should be a fair bit higher
Premiership,Brownlow,100k members etc etc

Maybe the penny counters are playing with numbers to make it lower to pay less Tax

 

[taztiger4]

I might sound like a bit of a spoil sport but after the last 18 months we have had - Im disappointed and think the number should be a fair bit higher
Premiership,Brownlow,100k members etc etc

Maybe the penny counters are playing with numbers to make it lower to pay less Tax

RFC is a not for profit, we dont pay tax

 

[easy_tiger]

RFC is a not for profit, we dont pay tax

I'm no accountant, but a $4m profit

for a not for profit seems pretty *smile* good

 

[turk-d-tiger]

RFC is a not for profit, we dont pay tax

I believe there is a AFL 'Tax' that gets paid of sorts depending on profits - Paid to the AFL

 

[taztiger4]

I believe there is a AFL 'Tax' that gets paid of sorts depending on profits - Paid to the AFL

incorrect, only "tax" we would pay to the AFL is if we exceeded the soft cap . ie footy dept spend over $9.5m (not including player salary) you then pay the AFL a % of what you were over

 

[Ian4]

i've said it before and I'll say it again... we should be using these funds to rebuild the jasck Dyer standthe Richmond way. i don't want us to go cap in hand to the state government for funding.

 

[Baloo]

i've said it before and I'll say it again... we should be using these funds to rebuild the jasck Dyer standthe Richmond way. i don't want us to go cap in hand to the state government for funding.

Screw that, get all the grants we can get. Everyone else is.

 

[17]

Screw that, get all the grants we can get. Everyone else is.

Yep.
Getting a bit nervous as had anticipated some State Govt largesse in the run up to the election.
Hoping to see Dan the Man wander into Punt Road in the next few days.

 

[Ian4]

Screw that, get all the grants we can get. Everyone else is.

nah, i'd like to think we are better than that. and besides, why ask for a goverment handout when it always comes with conditions? if we build it ourselves, we can build it our way... not being forced to share facilities with some obscure olympic sport we'll never be compettive in.

 

[TOT70]

Me too particularly AL, (Aligned Leisure) and RISL, (Swinburne Partnership):

"Both AL and RISL were key undertakings of the Board to ensure we diversified the Club’s revenue streams so as to
reduce our reliance on football-generated revenues. It is pleasing to see both operations performing so strongly".

Revenue and Profit are two different things aren't they? Does it show anywhere if these two businesses are operating at a profit and if so how much?

Am a bit confused, The Swinburne name adorns our facilities but are they a Sponsor or just a business partner?

There is an entry for “health, fitness and community groups.” Can we assume this is the Allied health business?

If we can then on page 15, expenses are $14.1 m and on page 19, revenue is $14.2 m. Profit is most likely the difference, about $100k. Last year these were expenses of $9.6 m and revenue of $8.6 m, so it looks like it is finally turning a profit.

They do not report individual sponsorships, but “sponsorships, fundraising and corporate products” is up from $13.6 m to $15.4 mill. This entry also has costs of around $6.8 m this year. I assume this is the cost associated with staffing, putting on corporate functions and meeting sponsor obligations.

 

[TOT70]

nah, i'd like to think we are better than that. and besides, why ask for a goverment handout when it always comes with conditions? if we build it ourselves, we can build it our way... not being forced to share facilities with some obscure olympic sport we'll never be compettive in.

The Korin Gamadji funding came with significant strings attached but it helped us to build the current office building. If I remember correctly it was over $10 mill of Government funding. We have been able to manage those strings to produce an outcome that is beneficial to all parties.

I have been involved with School Councils in the past and the best way to upgrade school facilities is to have a long term building plan and use Government funding for as much of it as possible. Government never just gives you money, they want you to put up buildings that get them re-elected. For example, you might need a Science lab but Government will not fund this but they will fund an “independent learning centre” so you take the funding, build what they want and piggy back your Science lab onto it with your own funds.

Never knock back Government funding.

 

[Baloo]

nah, i'd like to think we are better than that. and besides, why ask for a goverment handout when it always comes with conditions? if we build it ourselves, we can build it our way... not being forced to share facilities with some obscure olympic sport we'll never be compettive in.

Nah. We would need a building permit approval etc as it's crown land. They'll have their say on how it's used whether they fund it or not. Maybe not to the same extent but they'll have their say.

 

[Tigers of Old]

I thought it'd be 4.2m on Premiership merch alone!

 

[tigers80]

I thought it'd be 4.2m on Premiership merch alone!

Interesting to see what the margin is on the product we sell.
I'd imagine the Puma gear not a lot.

 

[Ian4]

The Korin Gamadji funding came with significant strings attached but it helped us to build the current office building. If I remember correctly it was over $10 mill of Government funding. We have been able to manage those strings to produce an outcome that is beneficial to all parties.

I have been involved with School Councils in the past and the best way to upgrade school facilities is to have a long term building plan and use Government funding for as much of it as possible. Government never just gives you money, they want you to put up buildings that get them re-elected. For example, you might need a Science lab but Government will not fund this but they will fund an “independent learning centre” so you take the funding, build what they want and piggy back your Science lab onto it with your own funds.

Never knock back Government funding.

Western Melbourne Group is a bidder for an A-League licence. They plan to build 15,000 stadium (with capacity to increase) a smaller 5,000 stadium (for W-League and Youth Teams), multiple training pitches and a social club in Tarneit at the site of the future Tarneit West train station. This is in conjunction with the Wyndham council (who are providing the land and necessary permits), but it will be 100% privately funded. They are doing it this way because they wanna keep it Football specific (in other words, they do not wanna share with other sports and don't wanna put up with the conditions that come with government funding). I think its an absolutely stunning project and a game changer for privately funded sports teams in Australia.

Obviously there are differences with Richmond, as we are not a privately funded team. But we do have a massive membership base. We are rich. And our project is on a much smaller scale. obviously we would need to get the council on side, but I have no doubt we can do this on our own. stuff government funding. Lets do this the Richmond way and the Richmond way only!!!

 

[Baloo]

Comparing Tarneit to Punt Road is a massive stretch. We sit on absolute prime real estate. There's no comparison.