MWRLFC AGM

[ManlyBacker]

Scheduled for Tuesday 19 December at 7pm. This is for folks who are members of the Football Club and not the League's Club.

Strange time to hold it, right before Christmas, but I am thinking of going.

Interesting that we have now got 2115 paid up members, which is probably a bit disappointing for the club but you have to start somewhere. Bear in mind that originally the MWRLFC was a closed shop and then became open to all only about 4 years ago.

Revenues for 2006 were $200,631 and of that 43% went in admin costs (vs. 13% in 2005). All the same I think I can say that I feel that the direction improved over the last year and am looking forward to Manly supporters signing up for next year.

 

[Fluffy]

I have to agree with your comments - things are improving, maybe not as quick as some would like but they are far better than the norths hangover days.

Hopefully they keep expanding the packages and possibly even start to look at some integration with out of towners. Things like coaching clinics in country towns can go a long way to pleasing the long distance members - invite them to the official bbq on the day. You wouldnt need all members of the team in each place either, just 4 or 5 would do.

 

[Spuds Bodyguard]

I read the report yesterday but was a little confused as to what it was can anyone help me. Is this the financial report of the the sea eagles in whole ie that being the entity that is owned 40% by delmege 40% by Penn and then 20% by the members of the football club or is this just effectively the 20% which is made up of 2K members and represents the money that it generated etc. I am pretty business literate and know my way around a financial report but i expected a lot more money in and out for a entity of the size of a football club over the course of a season

 

[Ryan]

Mate - thos figures (revenue) are for the memberships only. To give you an example - the club get $4 million from the NRL etc that makes up their main revenue stream.

The report you read is only a very small part of the overall revenue source. One would assume large "Admin" costs are necessary to keep tax at a minimum.

If you consider overall revenue being at around $10m, then expenses at say 80% of income(I know that's high - but this is a high risk industry, with very high variables), net NPBT would be around $200k (at best I reckon), and 30% company tax rate means $60k goes to tax, and that's too much for a small business - hence there would HAVE to higher "admin" costs. I wonder what can be classed as "depreciation" in this industry?

Maybe Jason King's form ?

Hehehehehe....sorry guys.

 

[Fluffy]

Think of it such that the membership is a seperate entity basically