Canberra District Rugby League reports $17 million profit

[-TW-]

Annual report is here https://www.raidersgungahlin.com.au/Abo ... eport.aspx

Majority of revenue is from the Raiders Group clubs via gaming and hospitality.

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[100%green]

Decent profit

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[Northern Raider]

$3m profit from rugby league ops is impressive. That's normally the money pit.

[greeneyed]

I did have a look at the accounts when they came out. Didn't check this... but in assessing profits, you need to see the ROI. The other thing that makes these accounts difficult to interpret is that they are just part of the Raiders Group as a whole. It is a complex structure.

[Billy Walker]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

[greeneyed]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

Why would a tenant fix the house?

[Billy Walker]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

Why would a tenant fix the house?

Odd analogy - A tenant usually pays rent and wouldn’t push responsibility for the experience of their guests who visit the abode to the landlord.

I don’t know of any tenants that are funded by the landlord and still complain about the deal they are getting.

[greeneyed]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

Why would a tenant fix the house?

Odd analogy - A tenant usually pays rent and wouldn’t push responsibility for the experience of their guests who visit the abode to the landlord.

I don’t know of any tenants that are funded by the landlord and still complain about the deal they are getting.

Stop the trolling Billy. You’re on thin ice.

[Bay53]

One does have to ask if the reforms that are being planned in NSW, especially if the LNP win the election, were to come to the ACT, where does that leave the Raiders?

(Obviously some of this gaming revenue was generated in NSW)

[Bay53]

It is a complex structure.

It sure is. If you look at the notes, the Canberra Raiders are one of the entities controlled by this group but this group is then controlled by the Queanbeyan United Rugby League Football Club.

Which in layman’s terms means - he may no longer be Chairman of the football club but still nothing happens at the Raiders without JR’s ok.

[Bay53]

Decent profit

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Was actually $46m the year before.

[Bay53]

$126m in assets and basically owe nothing except a bit of employee leave and the monthly credit card bill.

Very strong net asset position.

[BJ]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

Why would a tenant fix the house?

Odd analogy - A tenant usually pays rent and wouldn’t push responsibility for the experience of their guests who visit the abode to the landlord.

I don’t know of any tenants that are funded by the landlord and still complain about the deal they are getting.

When the Landlord pays another renter $3 million dollars a year to use their other place three times a year like it’s an AirBnb, I reckon the regular long term renter might expect a somewhat liveable house from the same landlord.

[greeneyed]

So people are aware… these accounts do not include the Queanbeyan Leagues Club or other licensed clubs or other activities in the Raiders Group outside the ACT. There are usually transfers and loans between this group and the Raiders Group, sometimes significant. These accounts need to be looked at in conjunction with others.

[Roger Kenworthy]

That should be enough to fix the dodgy scoreboard at Bruce and change a few lightbulbs with change to spare for a lick of paint!

Why would a tenant fix the house?

Odd analogy - A tenant usually pays rent and wouldn’t push responsibility for the experience of their guests who visit the abode to the landlord.

I don’t know of any tenants that are funded by the landlord and still complain about the deal they are getting.

Stop the trolling Billy. You’re on thin ice.

Imagine having boomer Billy as a landlord

He'd probably charge you an appearance fee for inspections.

[-TW-]

So people are aware… these accounts do not include the Queanbeyan Leagues Club or other licensed clubs or other activities in the Raiders Group outside the ACT. There are usually transfers and loans between this group and the Raiders Group, sometimes significant. These accounts need to be looked at in conjunction with others.

The Queanbeyan leagues club haven't issued their annual report for some reason, well it's not on their website anyway

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[papabear]

You cant assess whether the football operations made a profit on those accounts as the staff expense appears to cover everyone (players, cleaners, chefs) involved in both the football and clubs sides of things.

Interestingly the cash position of the club improved by $13M .

Tbh I dont really care how successful the club is from a financial perspective, I just hope that they invest their money into areas that help the firsts team and juniors improve.

[daley6]

Awesome making a profit now we can buy players cause we have money, oh wait , no one wants to play here, so who cares

[Bay53]

So people are aware… these accounts do not include the Queanbeyan Leagues Club or other licensed clubs or other activities in the Raiders Group outside the ACT. There are usually transfers and loans between this group and the Raiders Group, sometimes significant. These accounts need to be looked at in conjunction with others.

That is correct. The Queanbeyan League Club produces separate financial statements. They made a profit of $4 million and have net assets of $89 million including a lazy $52 million in cash and term deposits.

But then the QLC, apart from transactions between the club and football entities, also seem to put money into related party trusts, for example the QLC paid $10.5m to an entity called CRTA Trust and did the same last year.

The Queanbeyan Leagues Club does not appear to be the same entity as the Queanbeyan United Rugby League Football Club.

[Bay53]

So people are aware… these accounts do not include the Queanbeyan Leagues Club or other licensed clubs or other activities in the Raiders Group outside the ACT. There are usually transfers and loans between this group and the Raiders Group, sometimes significant. These accounts need to be looked at in conjunction with others.

The Queanbeyan leagues club haven't issued their annual report for some reason, well it's not on their website anyway

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I received it in the mail a few weeks ago.

[RedRaider]

You cant assess whether the football operations made a profit on those accounts as the staff expense appears to cover everyone (players, cleaners, chefs) involved in both the football and clubs sides of things.

Interestingly the cash position of the club improved by $13M .

Tbh I dont really care how successful the club is from a financial perspective, I just hope that they invest their money into areas that help the firsts team and juniors improve.

Papa, being profitable is the key to the investments you have nominated. When it comes to recruitment I'm sure player managers look at the future financial sustainability of a club.

[Botman]

I doubt a player manager gives the faintest **** about club stability.

The NRL grant to each club covers the entire salary cap, so theoretically i could start a club tomorrow , with my dirt poor assets and financial stability and if the NRL handed me grant, i could pay a 30 roster for ever and a day. Which is a big part of that whole deal.

[RedRaider]

Since a couple of the Player Managers were suspended I reckon there is a broader perspective from them now. Having a well run, profitable club means more can be spent on coaching, player support and player well being which may make a difference if the dollar offers from rival clubs are similar.

[Billy Walker]

Since a couple of the Player Managers were suspended I reckon there is a broader perspective from them now. Having a well run, profitable club means more can be spent on coaching, player support and player well being which may make a difference if the dollar offers from rival clubs are similar.

I think you might be giving the leeches a bit too much credit Red. Like believing a used car salesman cares about your driving experience.

[RedRaider]

Billy, I think once the Rugby League hierarchy withdrew accreditation and suspended player managers like Gavin Orr and Isaac Moses they put a line in the sand on standards. There will be cases of crook behavior from some player managers in future, like there are from people in all walks of life, but the action of the NRL was long overdue and good on them for actions they took.