The Aussie Rules thread

Post by **redunderthebed** » Mon May 30, 2011 2:43 pm

Port finally won a game wa-hey!

Post by **JimC** » Mon May 30, 2011 9:20 pm

redunderthebed wrote:Port finally won a game wa-hey!

Very sluggish start by the Cats against Gold Coast - came good by the end, though...

Post by **redunderthebed** » Tue May 31, 2011 4:00 am

After a good performance on the weekend

http://www.adelaidenow.com.au/sport/afl ... 6066003365

It is possible more board members will follow SANFL observer John Iriving in quitting the board.

This will prompt the SANFL – the owner of the debt-ridden club's AFL licence – to make urgent appointments to the board.

It is still unclear which Power directors will stay at Alberton and whether president Brett Duncanson and chief exexutive Mark Haysman will be part of a re-structured club.

The SA Football Commission later today will meet the board that remains at Alberton.

The SANFL has declared it intends to continue owning the Power's licence, but it cannot finance the shortfall in the club's cash flow.

The league, which has $27 million of debt and borrowed $4m to underwrite the Power last season, says it has no reserves and line of credit to further bankroll Port.

The AFL is expected to announce a rescue package for the Power in the next 48 hours.

The Port Adelaide Football Club has issued a statement saying it is in ongoing discussions with the SANFL and the AFL regarding forward funding.

The club confirmed today (Tuesday) that its board did meet with the SA Football Commission on Monday "as part of its normal annual review process".

"The PAFC expects to report a significant turnaround of at least $2 million in its earnings in 2011 against the previous year," PAFC said in a statement.

"While the club has made a substantial improvement, it has a funding gap consistent with that outlined in three-year forecasts in 2010.

"Discussions are continuing."

Last night, AdelaideNow reported exclusively that the SANFL could no longer bankroll the debt-ridden Port Adelaide Football Club and may take over the AFL club today.

The Power's financial crisis hit a flashpoint last night when the SANFL declared it had no reserves and no line of credit to underwrite the AFL club's shaky finances.

This devastating news was met with the instant resignation of Irving, the independent adviser appointed by the SANFL to the Power board in June last year.

Club president Brett Duncanson and chief executive Mark Haysman this morning could be forced to resign or face dismissal as the SANFL prepares to protect the AFL licence from being forfeited to the AFL.

No senior Power executive or board member would comment last night after lengthy rounds of meetings with the SA Football Commission.

Insiders at Alberton say Port's financial shortfall was identified to the commission last year when the SANFL and AFL underwrote the Power with a $5 million debt-reduction package.

The SANFL had to borrow $4 million for its part in the cash investment in the club.

Now the SANFL says it cannot lift its debt profile, currently at $27 million, to borrow more money to underwrite the Power.

Port claims it has improved its financial performance by $2.5 million in the past year, but is still falling short of break-even as it suffers from poor crowds to its home games and the smallest stadium returns in AFL football at AAMI Stadium.

Port also has stepped up its own debt-reduction plans this year with the "Back in Black" campaign which so far has raised $1 million to work against the $3 million of debt on the Power's books.

The Power's only option - if there is not an SANFL takeover of its board and management today - is to have the AFL cover the shortfall in its finances.

This would then increase tensions between the SANFL and the AFL on the future directions of the licences at both SA-based AFL clubs, Adelaide and Port. Both clubs want to be independent clubs, in line with AFL clubs in Victoria.

The SANFL wants to maintain control of the two licences, a model of governance the Crows and Power believe is flawed and hindering their financial strength.

SANFL control of the Port and Crows licences is critical to the success of the $535m redevelopment of Adelaide Oval.

This allows the league to ensure the two AFL clubs play all their home games - currently 11 each in an AFL season - in Adelaide, at a ground controlled by the SANFL.

This is currently AAMI Stadium where the SANFL keeps the bulk of the match-day revenue at Power and Crows games.

The SANFL last year projected it would generate $12m profit in the next three years from the Power AFL licence.

However, in the same three seasons Port could lose as much as $9m as its business model suffers from limited revenue at its home ground.

We stumble from one crisis to another i despair.

Post by **JimC** » Thu Jun 16, 2011 10:57 am

The mighty Cats remain on top of the ladder, having scraped yet another narrow win against the Hawks...

Suffer in your jocks!

Post by **redunderthebed** » Tue Jun 28, 2011 3:13 am

Dean Brogan retiring at the end of the season

Farewell sir roger ramjet all the players that i grew up watching are now retiring i feel old.

Post by **JimC** » Mon Jul 04, 2011 7:07 am

All good things must come to an end...

Geelong's unbeaten run came to an end, in the form of a narrow loss to Essendon...

It was the loss we needed to have...(and yes, that is very, very Panglossian...)

Post by **redunderthebed** » Tue Jul 19, 2011 9:48 am

hey its round 17 that means there is only 7 more games of this sad and cruel of a joke season left.

Post by **JimC** » Tue Jul 19, 2011 10:18 am

A second loss for us, but then a narrow win against the Lions...

Would be a stretch to imagine us with a flag this year, I fear me it will be the Pies again...

Post by **redunderthebed** » Tue Jul 19, 2011 11:40 am

JimC wrote:A second loss for us, but then a narrow win against the Lions...

Would be a stretch to imagine us with a flag this year, I fear me it will be the Pies again...

You'll give the scum a good run for their money i suspect.

Post by **JimC** » Fri Sep 30, 2011 9:15 pm

Well, the inevitable has happened, and Collingwood and Geelong face each other in the grand final this afternoon.

Go Cats!

Post by **redunderthebed** » Sat Oct 01, 2011 2:04 am

A primary teacher starts a new job at a school in Collingwood and, trying to make a good impression on her first day, explains to her class that she is a Collingwood fan. She asks her students to raise their hands if they, too, are Collingwood fans. Everyone in the class raises their hand except one little girl. ... ... ... ... The teacher looks at the girl with surprise and says: "Mary, why didn’t you raise your hand?" "Because I'm not a Collingwood fan,” she replied. The teacher, still shocked, asked: "Well, if you're not a Collingwood fan, then who are you a fan of?" "I'm a Geelong fan, and proud of it," Mary replied. The teacher could not believe her ears. "Mary, why are you a Geelong fan?" My mum and dad were born and raised in Geelong, so my mum is a Geelong fan and my dad is a Geelong fan, and so I'm a Geelong fan too!" "Well," said the teacher, in an obviously annoyed tone, "that's no reason for you to be a Geelong fan. You don't have to be just like your parents all of the time. What if your mum was a prostitute, your dad was a drug addict and your brother was a car thief, what would you be then?"

"Then," Mary said, "I'd be a Collingwood fan.

GO CATS!

Post by **Magicziggy** » Sat Oct 01, 2011 2:22 am

^^^ :rotfl: ain't that the truth.

Just like the port fans

Post by **redunderthebed** » Sat Oct 01, 2011 2:26 am

Magicziggy wrote:^^^ ain't that the truth.

Just like the port fans

That's centrals fan ziggy.

Post by **JimC** » Sat Oct 01, 2011 8:37 am

Yes!

A big win by the lads! Third Premiership Cup in 5 years!

Go Cats!

Post by **Magicziggy** » Sat Oct 01, 2011 9:00 am

Well done Cats.

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