2014 WB Financial Report

[Eastdog]

http://m.westernbulldogs.com.au/news/2014-12-15/dogs-recrod-profit

Good result for our club as we make a profit.

[Webby]

http://m.westernbulldogs.com.au/news/2014-12-15/dogs-recrod-profit

Good result for our club as we make a profit.

A statutory profit, that is..!

[GVGjr]

Peter Gordon, Simon Garlick and all those running the club should be congratulated with this result.

Just listening to Peter on SEN now and he is rightly excited that a number of initiatives the club has taken are starting to show some traction.

We just need to keep growing our membership base to keep helping the club so if we can all talk one or two people that we know that have let their membership slide into joining up again it would will go a long way to getting another solid result in 12 months time.

[Remi Moses]

Really good news for the club, and in particular after some difficult years.
Revenue being raised by 3 million is a wonderful effort in a crowded sporting environment .
Let's get rid of that debt

[Webby]

Actually a pretty good effort considering that we've increased our football department spending and also paid our debt down by about $1.5M over the past three seasons - seasons in which we've finished in pretty lowly positions! In days gone by, Doggies finishing bottom third three years in a row meant cue big losses..

PG's $1M gift is obviously in the mix, but with an improving team and Ballarat opened up to us, there's good things ahead.

On a broader note, the west of Melbourne is light years ahead of where it was 20 years ago. It just feels a lot stronger and Footscray in particular is set to change dramatically over the next decade.

New logo, new coach, new (premiership) VFL side, new WO upgrade, NAB Cup game at WO, new Ballarat alignment, upgraded stadium waiting for us, new potential superstar (Boyd) ready to link up with another three potential superstars (Bonti, Stringer and Macrae)..

Next year will be a 6-7 win season again, but I can't help but feel a distinct pang of optimism for the next 6-7 years.

[bulldogtragic]

Actually a pretty good effort considering that we've increased our football department spending and also paid our debt down by about $1.5M over the past three seasons - seasons in which we've finished in pretty lowly positions! In days gone by, Doggies finishing bottom third three years in a row meant cue big losses..

PG's $1M gift is obviously in the mix, but with an improving team and Ballarat opened up to us, there's good things ahead.

On a broader note, the west of Melbourne is light years ahead of where it was 20 years ago. It just feels a lot stronger and Footscray in particular is set to change dramatically over the next decade.

New logo, new coach, new (premiership) VFL side, new WO upgrade, NAB Cup game at WO, new Ballarat alignment, upgraded stadium waiting for us, new potential superstar (Boyd) ready to link up with another three potential superstars (Bonti, Stringer and Macrae)..

Next year will be a 6-7 win season again, but I can't help but feel a distinct pang of optimism for the next 6-7 years.

Men's health program is a big winner, Edgewater too. Good Friday game would be massive too. If we can start retaining our 15-20% membership losses it would be enormous. Off the back of that if we can get some Friday night games and some new second tier major sponsors it would be massive again. Our players also have marketing potential too as a way of making cash.

Moreover, everyone likes a winner. So the sooner we do it regularly, the better.

[F'scary]

I feel like we are really rolling the dice to keep up with the game as a business enterprise. Our finances are on a knife edge. If we don't have success on the field attended by significant increases in membership and sponsorship money over the next few years we could come a cropper.

[lemmon]

How big will Edgewater be for the club's bottom line? It seems like we are finally into the home stretch there

[F'scary]

How big will Edgewater be for the club's bottom line? It seems like we are finally into the home stretch there

I am not sure we got all that many extra machines. The bulk of them will be relocated from other premises we run, if I recall correctly. They must turn over a fair bit you would think - the licences and the Edgewater lease represent a commitment of something like $37m over the next 10 years or thereabouts.

[bornadog]

I am not sure we got all that many extra machines. The bulk of them will be relocated from other premises we run, if I recall correctly. They must turn over a fair bit you would think - the licences and the Edgewater lease represent a commitment of something like $37m over the next 10 years or thereabouts.

There is more to Edgewater than pokies. Hiring the venue out for functions, food sales, accommodation etc.

[bornadog]

The main issue with the financial position of the club is highlighted in the notes:


(b) Going concern

As at 31 October 2014, the Western Bulldogs has a current asset deficiency of $8,283,657 (2013:
$8,103,548). This gives rise to significant uncertainty about the ability of the company to continue to
operate as a going concern.

The directors of the company are satisfied that the going concern basis is appropriate due to the following:
‐ The company has continued to receive ongoing financial support from the AFL. Subsequent to year end
the Western Bulldogs have received confirmation that they will receive total assistance from the AFL of
$3.65 million from the Club Future Fund which is predominately tagged to specific initiatives. This is to be
paid during the 2015 financial year subject to certain criteria being met.

‐ The AFL have provided a bank guarantee totalling $4.55 million to the company's bankers as security for
the current borrowing facilities. This guarantee has been provided through to the next review date and the
directors have the expectation that this guarantee will be extended by the AFL.

The appropriateness of adopting the going concern basis of accounting is dependent on the company being
able to generate sufficient funds through membership, gate receipts, sponsorship, fundraising, hospitality
and other revenue streams to continue to funds it operations, in addition to receiving financial support from
the AFL.

If the going concern basis is found to no longer be appropriate, the recoverable amount of assets shown in
the Statement of Financial Position are likely to be significantly less than the amounts disclosed and the
extent of liabilities may differ significantly from those reflected in the Statement of Financial Position

We really need to get rid of our borrowings and increase our revenues in order to ensure the future viability of the club.

[F'scary]

There is more to Edgewater than pokies. Hiring the venue out for functions, food sales, accommodation etc.

True.

[LostDoggy]

$275

That's what it'd take to wipe the debt per average membership (say 30k)

Ignoring the obvious negatives of actual takeup, $275 per member would wipe this ball and chain.

Apart from Bulldoze the Debt I don't recall a push at the average member to wipe the debt in recent years. A targeted push, not the random calls for the raffles etc.

$275. Your name forever on Dog Pack Savages Debt wall inside the oval. A family name option for the same amount. Chance to win one of 20 or 30 full social club memberships or better.

Why is their no line in the sand push that I can recall? C'mon.

[boydogs]

Apart from Bulldoze the Debt

Why are you excluding that?

[Eastdog]

Why are you excluding that?

I think M.R.M means other initiatives apart from that to reduce the debt.

[Happy Days]

Why are you excluding that?

Yeah MRM that doesn't make sense? "Why are there no pushes to erase the debt except for the push to erase the debt."

[Eastdog]

Yeah MRM that doesn't make sense? "Why are there no pushes to erase the debt except for the push to erase the debt."

I think referring to other minor things to eradicate the debt apart from the major push which is well known.

[LostDoggy]

$275

That's what it'd take to wipe the debt per average membership (say 30k)

Ignoring the obvious negatives of actual takeup, $275 per member would wipe this ball and chain.

Apart from Bulldoze the Debt I don't recall a push at the average member to wipe the debt in recent years. A targeted push, not the random calls for the raffles etc.

$275. Your name forever on Dog Pack Savages Debt wall inside the oval. A family name option for the same amount. Chance to win one of 20 or 30 full social club memberships or better.

Why is their no line in the sand push that I can recall? C'mon.

Why don't we start this ourselves? As members draw our own line in the sand and start a debt reduction campaign? Personally I'd donate $275

[LostDoggy]

Yeah MRM that doesn't make sense? "Why are there no pushes to erase the debt except for the push to erase the debt."

That's my point HD. BTD, in my opinion as a standard 11 game member, hasn't been a 'push' for a number of years. If a yearly campaign has been run i've missed the paraphernalia.

I've contributed when i can to the VFL and BTD fund over the last few years, but with regards to the BTD fund, that's only because i knew of it previously.

Hobdog, for sure, $275, but how will this get around the membership base so more than 4 people know and contribute to it? Basically the point i was making. I'm sure there's a genuine reason Pete and Simon et al haven't driven a sustained campaign to reduce the eternal debt (at least the historical portion of it and not recent debt used for income/growth initiatives) - I'm just not sure what that reason is?

[Maddog37]

Why don't we start this ourselves? As members draw our own line in the sand and start a debt reduction campaign? Personally I'd donate $275

As would I.

[LostDoggy]

That's my point HD. BTD, in my opinion as a standard 11 game member, hasn't been a 'push' for a number of years. If a yearly campaign has been run i've missed the paraphernalia.

I've contributed when i can to the VFL and BTD fund over the last few years, but with regards to the BTD fund, that's only because i knew of it previously.

Hobdog, for sure, $275, but how will this get around the membership base so more than 4 people know and contribute to it? Basically the point i was making. I'm sure there's a genuine reason Pete and Simon et al haven't driven a sustained campaign to reduce the eternal debt (at least the historical portion of it and not recent debt used for income/growth initiatives) - I'm just not sure what that reason is?

I guess the only way we could achieve this would be by harnessing the power of social media. I also think the club could explore some other ideas such as a range of "Bulldogs Experiences". For instance, I'd pay $275 for the opportunity to attend a special event with greater access to players/coaches etc...With all money being channeled directly to wiping historical debt. Hell I'd pay $500 for the chance to spend a half day at the club getting an inner sanctum experience of the day to day running of the club. I'm just spitballing here but ultimately I'd love to see us eradicate the historical debt as it would undeniably remove the shackles. I'm also mindful that many members already commit a lot of money to the club.

[bornadog]

Why is their no line in the sand push that I can recall? C'mon.

You are right about this. The club made a bit of a push in 2011 as can be seen in this outdated link: http://www.westernbulldogs.com.au/club/fundraising/debt-reduction-campaign/a-debt-free-future

The club needs to at least keep the materials up to date and make a bigger push. Currently debts of $5million (or thereabouts) are attracting a wasteful $500,000 in interest each year.