MARINERS TURN A PROFIT!

[Bear]

I remember him saying in v1 that if we have a crowd avarage of 10,000 we would break even. Glad to see it happening, congrats to the moneymen

 

[marinermick]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

 

[RADINHO]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

 

[marinermick]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

they didnt say and probably wont

 

[Mariner Girl]

Isn't it great to be able to sleep at night, knowing our club is in such great hands.
Well done to Lynall, Peter, Lawrie and all others concered.
verhead: verhead:

 

[clarence]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

I couldn't care if it was 2c Radinho, it's certainly a lot blacker than some of the other A-League team's owners.

 

[dibo]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

they didnt say and probably wont

they don't appear to have officially said, but AAP (via the SMH) are reporting $300k, there are claims on SFCU that SBS reported $500k.

in the vein of what GB said earlier, i don't want them to be running big profits (not that this is a stunningly big profit). i want them to be 'very good at breaking even' - that is they should be enough to show they can pay the bills without worry while being willing and able to reinvest returns into the club. if people are in this to make money, frankly there are better businesses in which to make a buck.

 

[Bex]

Yeh, great news indeed. With a profit of about $300k, is it any wonder they're thinking twice about signing marquees or renewing contracts with the likes of Aloi$i? Excellent business sense, especially when its coupled with low cost alternatives that will probably give us results on the field anyway.

I must admit though, it does concern me that there is clearly a fair way to go. Funding the new facilities AND supporting NYL, W-League and the Academy will no doubt require us to grow even more. Lets hope we continue to perform on the field and maintain an attractive image; if we do then I think growth is a reasonably safe bet.

 

[Blackadder]

Great news indeed, to think that a small regional club starting from scratch can be turning a profit in Four years is a testmant to belief and hard work by all at CCMFC.

 

[RADINHO]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

they didnt say and probably wont

they don't appear to have officially said, but AAP (via the SMH) are reporting $300k, there are claims on SFCU that SBS reported $500k.

in the vein of what GB said earlier, i don't want them to be running big profits (not that this is a stunningly big profit). i want them to be 'very good at breaking even' - that is they should be enough to show they can pay the bills without worry while being willing and able to reinvest returns into the club. if people are in this to make money, frankly there are better businesses in which to make a buck.

yea i heard $500k and that the Victory are the only othe club to finish in the green aswell.

 

[loyalist]

great work by the administrators

 

[Rowdy]

yea i heard $500k and that the Victory are the only othe club to finish in the green aswell.

LOL  ;D I know some view Archie Thompson as a bit of a 'dope', but does this mean that the Victory are paying their players from the proceeds of "Hydro" set-ups? 

 

[dub]

wow imagine the Marquee we could get with 7 million

the 7 million is turnover not profit

whats our net profit then?

they didnt say and probably wont

they don't appear to have officially said, but AAP (via the SMH) are reporting $300k, there are claims on SFCU that SBS reported $500k.

in the vein of what GB said earlier, i don't want them to be running big profits (not that this is a stunningly big profit). i want them to be 'very good at breaking even' - that is they should be enough to show they can pay the bills without worry while being willing and able to reinvest returns into the club. if people are in this to make money, frankly there are better businesses in which to make a buck.

yea i heard $500k and that the Victory are the only othe club to finish in the green aswell.

We all have to remember that these figures are for end of June and does not take in the new signings and also our guest player therfore now we could be already back in the red but a great result at this point in the club history. ???

 

[thomas477]

Well done CCM.

 

[Mini In Bay 6]

Well the bigger the profit, the more tax you have to pay. Sometimes it's better to make a small profit and have shiny facilities, good junior development and well looked after players than make huge profits and gift 30% to the tax man.

This is what always cracks me up about crtics of the NRL bleating over their clubs are too poor and don't make money in Sydney - I'd wager nearly all except maybe two (Souths and Tigers) run small tax lossess purely on paper for tax minimisation reasons. If you look at their assets they are ridiculously wealthy and are buying more assets every year.

Heck accountants are the only people I know that can succesfully argue that black is white, all fish breathe out of water and people from Newcastle are human.  Well, I ain't convinced on the last one but they are persuasive.....

 

[Rowdy]

sub-human 

 

[BaysideMariner]

TWG just announced the $500000 figure

 

[FFC Mariner]

Well the bigger the profit, the more tax you have to pay. Sometimes it's better to make a small profit and have shiny facilities, good junior development and well looked after players than make huge profits and gift 30% to the tax man.

This is what always cracks me up about crtics of the NRL bleating over their clubs are too poor and don't make money in Sydney - I'd wager nearly all except maybe two (Souths and Tigers) run small tax lossess purely on paper for tax minimisation reasons. If you look at their assets they are ridiculously wealthy and are buying more assets every year.

Heck accountants are the only people I know that can succesfully argue that black is white, all fish breathe out of water and people from Newcastle are human.  Well, I ain't convinced on the last one but they are persuasive.....

Shiny new facilities would be capital expenditure and therefore not allowed to be written off in the expense column.

Hope you dont do your own taxes

 

[marinermick]

Well the bigger the profit, the more tax you have to pay. Sometimes it's better to make a small profit and have shiny facilities, good junior development and well looked after players than make huge profits and gift 30% to the tax man.

This is what always cracks me up about crtics of the NRL bleating over their clubs are too poor and don't make money in Sydney - I'd wager nearly all except maybe two (Souths and Tigers) run small tax lossess purely on paper for tax minimisation reasons. If you look at their assets they are ridiculously wealthy and are buying more assets every year.

Heck accountants are the only people I know that can succesfully argue that black is white, all fish breathe out of water and people from Newcastle are human.  Well, I ain't convinced on the last one but they are persuasive.....

Shiny new facilities would be capital expenditure and therefore not allowed to be written off in the expense column.

but depreciation can

 

[MattSimon]

but depreciation can

Exactly, you can expense depreciation. This is where accountants can get creative and design "interesting" depreciation schedules.