More Good News

[coolumsharkie]

Do I take a day off work and go see announcement 26/2 at 915?
Better be good.

What is this?

 

[Craigshark]

What is this?

apparently the club has announced they will be a making an announcement at this time at a platinum members event on the 26th

 

[Miller was a legend]

apparently the club has announced they will be a making an announcement at this time at a platinum members event on the 26th

Awesome!

I should find out what it is when the rest of us plebs do!

 

[Quigs]

Hmmmmm and the 26th just happens to be a Friday.

 

[coolumsharkie]

Be nice not to worry about going down the gurgler again, yet I feel a bit strange about it. I think part of the excitement of being a Sharks supporter is living on the edge of oblivion and it was always about local juniors making the big time etc

 

[2012....Sharks Year]

apparently the club has announced they will be a making an announcement at this time at a platinum members event on the 26th

Word on the street is it’s to announce that Chad is getting an extension on his extension. Had to be scheduled in advance because it’s coinciding with the opening of his Helmet Head Brewery.

 

[Tiger Shark]

Be nice not to worry about going down the gurgler again, yet I feel a bit strange about it. I think part of the excitement of being a Sharks supporter is living on the edge of oblivion and it was always about local juniors making the big time etc

I'm not sure "excitement" is the right word.

 

[Tiger Shark]

Yeah nice article but can someone explain how?

Creative accounting regarding the golf club acquisition or some other paperwork... not buying into this one too much.

It's always creative accounting. It was creative accounting when we lost 5m in 2019.

Maybe we have more creative accounting. Perhaps there's opportunities with COVID, The construction that weren't there before.

Also Sharks at Karella was sponsor was it not. That's a write off right there. Smart.

 

[2012....Sharks Year]

It's always creative accounting. It was creative accounting when we lost 5m in 2019.

Maybe we have more creative accounting. Perhaps there's opportunities with COVID, The construction that weren't there before.

Also Sharks at Karella was sponsor was it not. That's a write off right there. Smart.

The timing of the shut down of the leagues club for development immediately prior to Corona was uncanny. While all the other leagues clubs bled out we were basically immune from the financial effects of the shutdown. Throw in the extra support from the NRL and some creative accounting and we come out with an albeit small surplus. What a difference it makes having businessmen rather than ex-footballers steering the ship. (No disrespect to previous management).

 

[bad boy bubby]

The timing of the shut down of the leagues club for development immediately prior to Corona was uncanny. While all the other leagues clubs bled out we were basically immune from the financial effects of the shutdown. Throw in the extra support from the NRL and some creative accounting and we come out with an albeit small surplus. What a difference it makes having businessmen rather than ex-footballers steering the ship. (No disrespect to previous management).

We were actually given compensation money from the construction mob because we had to shut it down for their benefit. Plus no wages to pay. Most clubs would have had to be outlaying cash.
Nevertheless it looks all good on paper, so far.

 

[2012....Sharks Year]

We were actually given compensation money from the construction mob because we had to shut it down for their benefit. Plus no wages to pay. Most clubs would have had to be outlaying cash.
Nevertheless it looks all good on paper, so far.

Yeah....believe that deal with the developers is ongoing until the leagues club reopens. (Guaranteed $1mill a year profit I think). With the leagues club not expected to reopen until ‘23 and Kareela trading with a profit it’s good news all round.

 

[Brick Tamland]

The $5.45m loss in 2019 mentioned is for the football club only (ie doesn't include any development profits), which makes this years $57k profit even more impressive given the football club has been losing millions for many years (2018 - $3.26m loss, 2017 - $3.86m loss).

I'm guessing they managed to get the cash boost and particularly JobKeeper.

Imagine that, SJ, Moyza etc on JobKeeper!

From 2019 Annual Report:


From 2018 Annual Report:

 

[Goblin_Shark]

The Eels reported a standalone profit of $1.358m for the year ended 31 October 2020.

Perspective.

 

[2012....Sharks Year]

Wrong thread

 

[Frenzy.]

Meh.... spin doctoring 101

 

[coolumsharkie]

I'm not sure "excitement" is the right word.

Hanging on by a thread has it's own kind of thrill, it's hard to describe.

 

[cb4]

I imagine the turn around and profit would have to do with the large sum of cash we were given to get out of the league club.
It couldn't be anything else.

 

[cb4]

Do I take a day off work and go see announcement 26/2 at 915?
Better be good.

Most likely something do do with actual membership than anything significant.

 

[Special K]

Being forced to play 300k or whatever it was under the salary cap would have helped

 

[taipan]

Something to do with funding for the Centre of Excellence ,to be incorporated around the E.T stand?
Just a wild guess.