Will Bassat save us from extinction/merger?

[saintspremiers]

Our club may not survive this COVID-19 crisis.

Will AB bail us out?

Will we merge??

Serious times.

I wish we would stand down our players like Brisbane and GC have done.

[asiu]

13 000 000 divided by 50 000 =‘s less than $300 a head

we can pay the clubs debt off tomorrow
if we so desired

what else stops us surviving ?

[Nick_BlueNRG]

13 000 000 divided by 50 000 =‘s less than $300 a head

we can pay the clubs debt off tomorrow
if we so desired

what else stops us surviving ?

Lets do it then. While the game is suspended why don't we all get together and try and do this? I'm prepared to pay $300 if every other member is...

[asiu]

i would
he would
she would also

it’s actually only $260

so ‘that’ bit is very doable

what else is there
that stops us surviving as the St Kilda FC ?

[saintspremiers]

i would
he would
she would also

it’s actually only $260

so ‘that’ bit is very doable

what else is there
that stops us surviving as the St Kilda FC ?

Not a bad idea gaz - the other huge problem is we have zero revenue.

We don’t need to pay off the whole debt now - just need enough cash to service the debt and other expenses.

Hopefully through all this the interest rate we paying to service the debt is lowered - plus we need a freeze on repayments for 6 months.

[Rocket]

Let’s do it!!!

[asiu]

the better math was

13 000 000 divided by 200 000

coz thats only $65 a head

[asiu]

then the thing to do

is make a list of our ten biggest hitters

(the BH ‘ers who are Sainters through ‘n through
BUT have way more cash than us common tragics)

then we ... make a deal

for every $ we give (they give a ‘top up figure’)

*insert equation here *

then we (crowd) supporter fund
VERY PUBLICLY of course

our way into a WE are here ,
‘nd we are staying HERE
position

done right
we could be out of debt
and in expansionary surplus

guts gains glory




then when the boys say
‘we play for the fans ‘

we can sit back in our armchairs ‘n say

“yea !!!
you do actually

so just Win the thing ‘n stop poncing around”

[asiu]

the equation is , obviously

each one of us + 10 of them

(seeing the magic yet ???)


we give $10
they top up with $1

each.


































lol

gazrat is screaming in my head right now

“it’s not that f***** hard”

[Beno88]

Sorry, why are we not surviving?

[asiu]

if the BH ‘ers
are ginger about what that could ACTUALLY cost them

they lay off with 10 of their mates
... who support at 25 or 50 cents in the dollar

each.

[outside66]

Sorry, why are we not surviving?

We are beyond broke and are completely f****d at the moment... We will almost certainly still be around next year but will be even further behind the bigger clubs. We are stuffed unless something drastically changes from a funds perspective

[asiu]

can someone please pick the idea apart ?

why won’t it work

where’s the flaw

[BarryGrogan]

can someone please pick the idea apart ?

why won’t it work

where’s the flaw

Rich people don't get rich by giving it away.

And, there's something like 13m Australians with no savings.

So most don't have it to give away.


Also, I reckon in a month you'll be lucky to find 200 people that give a s*** about a footy club let alone 200,000.

[saynta]

can someone please pick the idea apart ?

why won’t it work

where’s the flaw

Rich people don't get rich by giving it away.

And, there's something like 13m Australians with no savings.

So most don't have it to give away.


Also, I reckon in a month you'll be lucky to find 200 people that give a s*** about a footy club let alone 200,000.

Well said.

[HardSaint]

The Question was "Will Bassat save us from extinction / merger?"

OK here was the scenario last year
Bloke worth $300M walks into a club $10-$12M in debt
So to clear the debt and dig into the pocket he's worth $288M - piss in a bucket

Would what you or I do if we had that much cash and allegedly "loved the club"

Fred'll do what works for Fred

Great men are remembered for doing great things
No holding my breath

[Shaggy]

can someone please pick the idea apart ?

why won’t it work

where’s the flaw

The problem is cash flow and not debt and how much we require to keep going is unknown.

Last year we spent $53m or roughly $1m per week. Our income and cash flow has just been cut-off. Expenditure cannot be cut to zero. Management need to manage our committed expenditure and minimum spend to keep us going and viable longer term whether we restart in 6 weeks or next year.

We do not have the financial reserves. We are relying on people/entities not enforcing their financial rights and friendly funding to keep going.

Prior to bailing out the club saviours want a strong understanding of the hole. No-one knows when footy can restart.

Our future is dependent upon sponsors, players, admin, suppliers, members, AFL and banks supporting us until we can start generating income again to fund expenses.

Many businesses are now facing the same.

[BarryGrogan]

The Question was "Will Bassat save us from extinction / merger?"

OK here was the scenario last year
Bloke worth $300M walks into a club $10-$12M in debt
So to clear the debt and dig into the pocket he's worth $288M - piss in a bucket

Would what you or I do if we had that much cash and allegedly "loved the club"

Fred'll do what works for Fred

Great men are remembered for doing great things
No holding my breath

Being worth $300m doesn't mean he has $300m sitting around in his bank account.

[Peanut Farm]

The Question was "Will Bassat save us from extinction / merger?"

OK here was the scenario last year
Bloke worth $300M walks into a club $10-$12M in debt
So to clear the debt and dig into the pocket he's worth $288M - piss in a bucket

Would what you or I do if we had that much cash and allegedly "loved the club"

Fred'll do what works for Fred

Great men are remembered for doing great things
No holding my breath

Being worth $300m doesn't mean he has $300m sitting around in his bank account.

Just had another look at Seek's shareprice, it's at a 5 year low and lost 50% in 3 weeks. I mentioned Bassat to help out in a previous post but realising his personal wealth has halved in 3 weeks, he wont be stumping up any cash.

[mr six o'clock]

The Question was "Will Bassat save us from extinction / merger?"

OK here was the scenario last year
Bloke worth $300M walks into a club $10-$12M in debt
So to clear the debt and dig into the pocket he's worth $288M - piss in a bucket

Would what you or I do if we had that much cash and allegedly "loved the club"

Fred'll do what works for Fred

Great men are remembered for doing great things
No holding my breath

Being worth $300m doesn't mean he has $300m sitting around in his bank account.

That's right
He's probably got $500m in off shore tax havens

[Sanctorum]

Sorry, why are we not surviving?

Quite right Beno88, there are other clubs that are deemed in a worse position than the Saints:

https://www.theroar.com.au/2020/03/26/t ... -the-wall/

In any case, the AFL has a massive war chest to keep the 18 team competition going which is really crucial come the negotiations with broadcasters for the next media deal. Unlike the other major football codes, including the NRL, the AFL has long planned for a doomsday scenario, with a Future Fund as well as a massive physical asset, free of debt, of Docklands Stadium.

Any speculation that St Kilda will fall by the wayside as a result of the Covid-19 pandemic is way off the mark!

On another related matter, I feel there is likely to be some concern about the key Football Department figures who have been stood down, people like David Rath and James Gallagher and others who have been instrumental in working with Simon Lethlean to bring in the 6 experienced AFL players to beef up the team for 2020. This major disruption of the season and mass staffing cuts (80%) may well see a big shake-up of every club's support personnel as they may well go and look for opportunities elsewhere to get a job...

[saynta]

They could sell the stadium they own if push came to shove. Worth 1.3 Billion. I'm told.

[Joffa Burns]

They could sell the stadium they own if push came to shove. Worth 1.3 Billion. I'm told.

The challenge is willing buyer and willing seller.
$1.3B is old news in a new unknown market.

If the media rights tap is turned off for the whole season I think club viability is a major concern.

https://7news.com.au/sport/afl/afl-club ... e-c-757091

[SaintPav]

They could sell the stadium they own if push came to shove. Worth 1.3 Billion. I'm told.

The challenge is willing buyer and willing seller.
$1.3B is old news in a new unknown market.

If the media rights tap is turned off for the whole season I think club viability is a major concern.

https://7news.com.au/sport/afl/afl-club ... e-c-757091

Linton St is worth $1.3 billion?

[SaintPav]

A market needs buyers. There won’t be any buyers of major infrastructure assets and there aren’t any jobs to go to.

The economy is hemorrhaging. Looking at anywhere from 20 to 40% contraction in output in the second quarter. That's with a minus sign.