Just curious footy club

[jbb/james]

so with manlys footy club, rather than footy dept or leagues club membership. Used to be 25 buckos a year. Very trivial. It was my understanding that was about slowly buying the club back, piece by piece for the next 600 years. Does that happen ? Does the footy club buy a certain poofteenth of the club back each year. Just wondering how that goes these days .

 

[HappilyManly]

so with manlys footy club, rather than footy dept or leagues club membership. Used to be 25 buckos a year. Very trivial. It was my understanding that was about slowly buying the club back, piece by piece for the next 600 years. Does that happen ? Does the footy club buy a certain poofteenth of the club back each year. Just wondering how that goes these days .

yes - they buy shares at 23c with any funds that they raise through membership/auctions/donations

The idea is not to 'buy back' so much, as new shares are issued for the purchase and thus the number of shares on issue in the Franchise increases each time a Shareholder (Owners Company,Leagues Club and Football Club) purchases a block.

The FC's charter is to maintain the past and invest in the future through the juniors. Due to lack of financing from the Leagues Club, they no longer have the funds to spend on Juniors, so they use their funds to increase the shareholding ratio to that of the Owners Company.

The FC owns the preferential share so does in fact need not own any ordinary shares to maintain its two seats on the Franchise Board.

The Leagues Club only owns one ordinary share and handed over their solitary board seat to the Owners Company.

 

[jbb/james]

yes - they buy shares at 23c with any funds that they raise through membership/auctions/donations

The idea is not to 'buy back' so much, as new shares are issued for the purchase and thus the number of shares on issue in the Franchise increases each time a Shareholder (Owners Company,Leagues Club and Football Club) purchases a block.

The FC's charter is to maintain the past and invest in the future through the juniors. Due to lack of financing from the Leagues Club, they no longer have the funds to spend on Juniors, so they use their funds to increase the shareholding ratio to that of the Owners Company.

The FC owns the preferential share so does in fact need not own any ordinary shares to maintain its two seats on the Franchise Board.

The Leagues Club only owns one ordinary share and handed over their solitary board seat to the Owners Company.

Nice explanation.