League offers to bail out Carlton with loan

Effes · **Posted:** Fri Jul 07, 2006 12:47 am

Quote:

Carlton does not technically qualify for the annual special distribution because of its historically large supporter and membership bases and the fact that, despite its financial challenges, it has stadium deals with Telstra Dome and the MCG that give the prospect of much better financial returns than the likes of the Dogs and Roos.

Jarusa · **Joined:** Sat Feb 26, 2005 9:00 am **Posts:** 23123

Sounds good to me just on that scant information.

The basic premise that it is a loan not a basic non-repayale donation is good to me.

Get through the tough times, pay off this debt to the AFL as quickly as possible and then get on with building the empire up again.

AGRO · **Posted:** Fri Jul 07, 2006 12:57 am

Is this loan outside of the $1.5million cash injection or part of it?

ScottSaunders · **Posted:** Fri Jul 07, 2006 8:33 am

good news sort off.

a $6 Million dollar loan to completly get rid of all of our debt.

with the AFL to take over the running costs of MCL Park due to the club having to foot the bill for all the games that are played there on behalf of the AFL i.e Underage comps etc..

Let Carlton have their own VFA side - that plays at MCL Park and hopefully can generate some funds through the SC that way as well and really develop our talent. I like that the blueants are winning, but there is no benefit when players like Digy Morell and Co who are great for the bullants but do not feature for the blues, in our young talent not being played at the highest level possible outside of the AFL

pay the loan back at 500k a year for 12 years (or quicker if we have the surplus to do so)

would see the club start to regain its foot hold once more.

i actually prefer the idea of a loan as compared to a handout.

Its a little like, give us a hand, we will get ourselves out of the mess, then pay you back in full.

buzzaaaah · **Joined:** Mon Feb 28, 2005 10:31 am **Posts:** 17893

AGRO wrote:

Is this loan outside of the $1.5million cash injection or part of it?

It appears the cash injection is a loan

Where did you get the $6mil figure from Prez. Is it something thats been reported or what you think we need/should get?

DownUnderChick · **Posted:** Fri Jul 07, 2006 9:00 am

http://www.theage.com.au/realfooty/news/afl/league-offers-to-bail-out-carlton-with-loan/2006/07/06/1152175721687.html

This article appeared in The Aged newspaper today and details the $6 million loan Buzzaaah.

I like the fact that it is a loan also because it would get friggin' Smorgon off our back about not being eligible, moving home games interstate blah, blah, blah.

AGRO · **Posted:** Fri Jul 07, 2006 9:10 am

If I was President of Carlton I would be defaulting on about $1million of this loan. :twisted:

mjonc · **Posted:** Fri Jul 07, 2006 9:14 am

I'm happy with that outcome. Just want to know what the remaining conditions are.

nightcrawler · **Joined:** Sun Apr 03, 2005 11:48 am **Posts:** 2891

DownUnderChick wrote:

http://www.theage.com.au/realfooty/news/afl/league-offers-to-bail-out-carlton-with-loan/2006/07/06/1152175721687.html

This article appeared in The Aged newspaper today and details the $6 million loan Buzzaaah.

I like the fact that it is a loan also because it would get friggin' Smorgon off our back about not being eligible, moving home games interstate blah, blah, blah.

Actually that article says they're loaning us the $1.5 million. It's doesn't say anything about them loaning us $6m.

If what the Prez says is correct that would be good. But it seems pretty dubious that the AFL would be that generous.

camel · **Posted:** Fri Jul 07, 2006 9:20 am

The Age website doesn't want to play for me at the moment, but this is good news I suppose. And I'm also guessing this the "July 1 announcement" that Synbad mentioned on here a few months ago?

Kaptain Kouta · **Joined:** Mon Feb 28, 2005 12:41 pm **Posts:** 63509

I've got no problem whatsoever with there being a loan, rather than a handout, especially as once we turn it round on-field we'll be able to repay the loan and then set sail for strong profits and better management.

I'd like to know what the "devil in the detail" is though.....

budzy · **Joined:** Mon Feb 28, 2005 11:17 am **Posts:** 8128

The AFL Commission has proven in the past to be highly untrustworthy in relation to CFC.
I for one am very sceptical & 'nervous' on this.
I simply don't trust the bastards & would prefer we didn't go into debt to the AFL.

bondiblue · **Posted:** Fri Jul 07, 2006 10:03 am

Put this loan aside. The AFL have been our guarantor for a few years now; hebce our existence is prolonged. If they wanted to pull the pin on us they could have. But I guess that's your concern; the fact that they hold the strings to do as they wish with us.

Kaptain Kouta · **Joined:** Mon Feb 28, 2005 12:41 pm **Posts:** 63509

budzy wrote:

The AFL Commission has proven in the past to be highly untrustworthy in relation to CFC.
I for one am very sceptical & 'nervous' on this.
I simply don't trust the bastards & would prefer we didn't go into debt to the AFL.

Do we have a choice?

Is there any other way out?

budzy · **Joined:** Mon Feb 28, 2005 11:17 am **Posts:** 8128

bondiblue wrote:

Put this loan aside. The AFL have been our guarantor for a few years now; hebce our existence is prolonged. If they wanted to pull the pin on us they could have. But I guess that's your concern; the fact that they hold the strings to do as they wish with us.

Contractually media wise they had no choice but to guarantor us didn't they?

budzy · **Joined:** Mon Feb 28, 2005 11:17 am **Posts:** 8128

Kaptain Kouta wrote:

budzy wrote:

The AFL Commission has proven in the past to be highly untrustworthy in relation to CFC.
I for one am very sceptical & 'nervous' on this.
I simply don't trust the bastards & would prefer we didn't go into debt to the AFL.

Do we have a choice?

Is there any other way out?

I hope so.

DownUnderChick · **Posted:** Fri Jul 07, 2006 10:19 am

Quote:

Actually that article says they're loaning us the $1.5 million. It's doesn't say anything about them loaning us $6m.

NightCrawler it does say the bulk of the funds that we desperately need. The bulk of the funds actually refers to the $6m debt.

The $1.5m, which the AFL Comm already approved is the immediate cash injection that we need for this year.

Quote:

there are still terms and conditions attached to it that the club has to accept in return for taking the money.

We have to be nice to the big boys at the Docklands and mind our manners and never, ever talk back to them when they suggest something stoopid, such as alternate jumper strips.

Bite your tongue CFC and we won't take the moola away from you.

molsey · **Posted:** Fri Jul 07, 2006 10:21 am

Bulk of the funds we desperately need could refer to the cash shortfall for operations we have for 2006. In none of the previous reports has the AFL talked about refinancing our entire current package.

AGRO · **Posted:** Fri Jul 07, 2006 10:27 am

Its the lender not the borrower that shits its pants in all this and the more the lender lends the more it shits its pants.

Just ask the Brazilians. :wink:

buzzaaaah · **Joined:** Mon Feb 28, 2005 10:31 am **Posts:** 17893

There is nothing that I have read to suggest that there will be more than $1.5mil at this stage.

I guess the terms of the loan are important.
I hope that the first 3 years are "interest Free" to allow us to re-organise the finances

In the long term this is probably a better option cos we dont have the stigma or restrictions of the CBF. I must say however that I was looking forward to getting the $1mil fine back with interest :evil:

League offers to bail out Carlton with loan

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