Former Swans Directors put forward a similar plan to the WAFL presidents to to take to the WAFC together with selling Subi Oval lease, (which by the way is what the annual Grant is for- giving up Subi) and slashing the WAFC.
We too could have been cashed up except the plan was seen as too radical for the backward thinkers at the WAFL clubs.
[/quote]
I don;'t think the lease at Subi would of been worth $71 Million.
It was worth far more than that. Still had 70 years to run.
[/quote]
Leases arent really worth that much in the end, The WCE were always going to move to Optus whether they liked it or not, the WAFL didnt own a single square inch of Subiaco Oval and thats what counts when it comes to selling,
Leases arent really worth that much in the end, The WCE were always going to move to Optus whether they liked it or not, the WAFL didnt own a single square inch of Subiaco Oval and thats what counts when it comes to selling,
[/quote]
Selling he leasehold would have allowed any purchaser to negotiate for a whole new use of the land.
Many Valuers estimated a value of $100m plus.
Port and Norwood were also interested early, it ended up in a legal dispute with Port having to pay a fine to the SANFL.
In 1986 WA and SA were asked to joing and pay 4 Mill up front SA told them to jam it.
In the end the WAFL paid 4 Million and teh VFL having lost SA approached some suckers in Qld who like the WAFL paid the VFL 4 Mill up front, the original deal was 400K over a number of years, but Fitzroy and Footscray refused to vote for it unless they got 600K up front, so sure enough the WAFL agreed to it.
2 Years later the WAFL and Eales had lost 13 Million, they had even agreed to pay the travel costs of VFL clubs to WA. I kid you not.
Still waiting for someone to give me one, just one, example of the amazing sanfl with all its prescience and money giving the forks to the afl in the last 30 years.
even the so-called ‘crowning achievement’ of the SANF – Football Park – was a stuff up in the end. They only went there because of Bradman and the SACA not out of some fantastic vision. It has ended up costing them a lot of money once it became obvious that the victorian version of PA was unable to fill the ground.
Essentially they had to sell everything back to the SACA, the government plus the Victorians to save themselves; old Donald would be laughing his what sits off.
Yes I had a read of their last three annual reports today. The sanfl is losing money hand over fist due to it pouring a shedload of money into Adelaide oval redevelopment and the oval revenues being way way down on expectations and not just because of covid.
Football park is on the books as an asset but re revenue they are banking on hotel ownership. Crikey.
Also they send all their revenue to the sanfl clubs for, and I quote, debt reduction. Clubs must have dug themselves into massive holes.
Do some research boys. SA people love their sanfl clubs in greater numbers than us but it is all downhill from there.
Yes I had a read of their last three annual reports today. The sanfl is losing money hand over fist due to it pouring a shedload of money into Adelaide oval redevelopment and the oval revenues being way way down on expectations and not just because of covid.
Football park is on the books as an asset but re revenue they are banking on hotel ownership. Crikey.
Also they send all their revenue to the sanfl clubs for, and I quote, debt reduction. Clubs must have dug themselves into massive holes.
Do some research boys. SA people love their sanfl clubs in greater numbers than us but it is all downhill from there.
[/quote]
i think glenelg owed $2 million a few years back which would be paid off when they sold football park.
Yes I had a read of their last three annual reports today. The sanfl is losing money hand over fist due to it pouring a shedload of money into Adelaide oval redevelopment and the oval revenues being way way down on expectations and not just because of covid.
Football park is on the books as an asset but re revenue they are banking on hotel ownership. Crikey.
Also they send all their revenue to the sanfl clubs for, and I quote, debt reduction. Clubs must have dug themselves into massive holes.
Do some research boys. SA people love their sanfl clubs in greater numbers than us but it is all downhill from there.
[/quote]
Bollocks, SANFL has asssets of $99.5 Million, yes its on target to debt reduction and is still receiving income from Adelaide Oval, and it is not costing them to host every final there unlike the WAFL at Optus.
What are the assets of the actual WAFL as an independent entity? SFA!
Its just had one of its oldest clubs WPFC walk away from a mountain of debt, giving creditors 2 cents in the dollar including the Australian Tax Payer, in a complete embarrassment to the brand.
Peel are bailed out on a regular basis ad a basket case.
Most of the other clubs a year to year propositions financially with zero indepedence away from the WAFC.
The whole lot are being dragged up before the State Parliamentary Commission of enquiringy to find out where the money is being drained and why tax payers are pumping millions into it. They have a hide given it was the state Gov that bailed them out and gifted them the 99 year lease at Subi for SFA to bailthe morons out of the 13 Million dollar Indian Pacific fail, debt on the piece of shit two tier stand and financial incompetence of the clowns that had run for years.
At the end of the day one State League had-
1-A full proper home & away season starting in June and ending in October
2-Will have ALL finals plus the GF at the world class Adelaide Oval in front of nearly 30,000
3-Have a larger player salary cap per season (approx $125k more than the other State League)
4-Had the foresight to own & build their own stadium in the 1970s and not have just 1 club based there unlike here with their own bar and seating to take full advantage of all of the perks associated with it including all finals, GFs, State Of Origin games, afl games each weekend there for their 2 teams, international rules games, major concerts, monster trucks, festivals etc and from those perks 1 club was able to bank millions, buy the best players available from outside the afl, win 10 flags, play finals virtually every year and then have to have recruiting restrictions placed on them
5-Were then able to negotiate a good deal to move back to Adelaide Oval and share with the SACA and play all their finals games there in front of full houses at minimal cost and not at outdated suburban venues
6-Are able to sell off the no longer used Football Park they owned in West Lakes near the coast for a motza to developers
I will leave it up to you to decide which is the better run organisation with an actual focus on their 143yo Premier State League competition and not just the 2 afl clubs based in their particular state!
At the end of the day one State League had-
1-A full proper home & away season starting in June and ending in October
2-Will have ALL finals plus the GF at the world class Adelaide Oval in front of nearly 30,000
3-Have a larger player salary cap per season (approx $125k more than the other State League)
4-Had the foresight to own & build their own stadium in the 1970s and not have just 1 club based there with their own bar and seating to take full advantage of all of the perks associated with it including all finals, GFs, State Of Origin games, afl games each weekend there for 2 their teams, international rules games, major concerts, monster trucks, festivals etc
5-Were then able to negotiate a good deal to move back to Adelaide Oval and share with SACA and play all finals games there in front of full houses at minimal cost
6-Are able to sell off the no longer used Football Park they owned for a motza to developers
I will leave it up to you to decide which is the better run organisation with an actual focus on their 143yo Premier State League competition and not just the 2 afl clubs based in their particular state!
[/quote]
yeah not hard to work out SANFL bought and built Football Park in 1971 for a total of 6.6 Mill which they paid off in full, meanwhile the WAFL built the sub standard 3 and 2 tier stand at Subi on land they didnt own and with borrowed money they never repaid and sent them bust.
You have it all wrong, it was the SANFL that walked away from the SACA, they wanted to have control over their own income stream, the SACA would not agree to the terms the SANFL wanted so they told them to jam it.
In the end they got all the ticketing, bar sales and events cash straight in the footy till without having to share it with the SACA, which was actually in strife when they put out the feelers for footy to return in a joint and better deal for footy. The amount SANFL put into the SACA is small fry compared to what they made out at West Lakes over the years.
The SANFL owned Football park (Westlakes) is being gradually subdivided for residential land, producing significant profits for the SANFL, this then supports each SANFL club via annual dividends, which the clubs have used for debt reduction where necessary, plus supports their bigger salary cap and better resourced football department. The SANFL actually promote their state league, no wonder some clubs, like Norwood who are the 2nd most successful club can average crowds of 4k, no clubs even the 3 most on field successful clubs in EF, EP & WP can get anywhere near that due to the complete lack of interest by the WAFC.
It’s a self fulfilling policy by the WAFC, they dont promote or support the comp, so the comp is slowly dying on the vine, so the WAFC can say it wont increase support because the crowd numbers are diminishing and dont justify additional support. catch 22
At the end of the day one State League had-
1-A full proper home & away season starting in June and ending in October
2-Will have ALL finals plus the GF at the world class Adelaide Oval in front of nearly 30,000
3-Have a larger player salary cap per season (approx $125k more than the other State League)
4-Had the foresight to own & build their own stadium in the 1970s and not have just 1 club based there unlike here with their own bar and seating to take full advantage of all of the perks associated with it including all finals, GFs, State Of Origin games, afl games each weekend there for their 2 teams, international rules games, major concerts, monster trucks, festivals etc and from those perks 1 club was able to bank millions, buy the best players available from outside the afl, win 10 flags, play finals virtually every year and then have to have recruiting restrictions placed on them
5-Were then able to negotiate a good deal to move back to Adelaide Oval and share with the SACA and play all their finals games there in front of full houses at minimal cost and not at outdated suburban venues
6-Are able to sell off the no longer used Football Park they owned in West Lakes near the coast for a motza to developers
I will leave it up to you to decide which is the better run organisation with an actual focus on their 143yo Premier State League competition and not just the 2 afl clubs based in their particular state!
[/quote]
Nailed it BH. SA football had a long term plan to make their competition viable and attractive, the WAFC has failed miserably with this over many years.