Yep the club has been paid the profits for the next two years of trading whilst closed plus now we will have the additional profits of Sharks Kareela golf club with is cash flow positive. Leagues club profit up to $850K (increase of 500K) this year.
Leagues club refurb (which is costing $20mill) is all about income generation, with one floor aimed for conference space in conjunction with hotel and for hire for weddings etc over looking the bay. Other spaces facing the field in the main floor (café is located where current Auditorium is) will all have a dual purpose to be corporate use on game day for extra $. Anticipating $2-3 mil profit return annually with all this design features. We will have 10mill in the bank at the end of the refurb construction and currently have no debt to anyone. This money will not be wasted in ground improvements. Any improvements, above maintenance, will be done from grants or future profits only. Being capable of holding a semi is not a priority at present (all about the female change rooms). In saying that Kogarah can, so we can host one within the next two seasons.
Centre of Excellence just awaiting final deposit of Federal money matching State Gov money so can be built, plans are already in. It will contain some extra seating and corporate spaces as well to bring us in line with the newer stadiums - but main purpose is not a grandstand - that is no what the money is given for. Some people had trouble with this simple concept last night.
Point bet have extended their ground sponsorship to 7 years, with upgraded jersey placement over the next two years whilst we are not there. More indication we are coming back for the wrist slitters.
Your season seat will be allocated to you on a like for like basis, keeping current seated groups together with some price reductions per game value. You will be sent a letter with a Ticketek link showing your exact seats. You will then have a month to confirm you are happy with your allocated seat (through a fan day to test it out) before other can buy in the stand at Kogarah. Space has been kept aside to move into if your wish.
The club is looking at various ways to get the older gen to Kogarah. (it is actually easier for me coming from Engadine) whether by buses from some central point etc.
Our financial strength will be released to the media through a concerted campaign when the time is right. The club has never been healthier from a financial point of view.
