Vale Club Swans

[stellation]

What did you play - both instrument and musical styles?

Most everything, but mainly guitar. Lots of different styles in lots of groups over the years, but mainly silly indie teased hair dufferness.

[Xie Shan]

Complete non-issue. The Swans are NOT insolvent, what's caused the confusion is that Club Swans, which has been losing money for some time now, is included in the Swans' overall bottom line under the accounting rules.

The Herald article includes a few more quotes from Colless, link here:

''We don't have any ownership of Club Swans but because we had influence over the governance of financial and operating policies, we are bound by accounting guidelines to annually consolidate the Sydney Swans [Ltd] and Club Swans. But that's the only time it's ever done, and it's a pretty theoretical notion.

''Any exposure that we had to the club has been written off in prior periods, and I think it's very simple that if you extract Club Swans out of the consolidated entity, you are left with Sydney Swans, and the position is as it's been for 20 years. It's a low-margin business, we don't turn a profit every year but we've got no debt, and I think what's really encouraging is this year our spon-sorship is up over 30 per cent.''

[jono2707]

And I thought North was the only team in financial trouble!!

What do you mean? We're not in trouble! Sydney is a veritable goldmine with loads of money and thousands, no millions, of AFL fans waiting in the wings, especially in the greater west!!

[Kanga]

And I thought North was the only team in financial trouble!!

[swansrule100]

http://www.dailytelegraph.com.au/sport/afl/sydney-swans-insist-they-are-not-broke-despite-auditor-report/story-e6frexwr-1226059219923

bit on it here

[AnnieH]

About bloody time.
They should have turned it into a brothel years ago. Would have made the club a whole lot more money.

Should make our bottom line look a bit better, now that we're not tossing money down the drain.

[Xie Shan]

In case anyone was wondering...

Club Swans and the Sydney Swans

Basically, the Swans have clarified that the closure of Club Swans has no financial impact on the football club as they didn't own the social club. The football club (excluding Club Swans) still recorded a loss in 2010 but this was more due to the cost of starting up the Swans Academy.

[Xie Shan]

I assure you, when we were thinking it through (and from memory it did get to relatively serious levels of investigation) it was all musos or former musos looking for a viable way to keep it open for live music first and foremost- it was a venue that was dear to our hearts. I think the estimate was it would probably take away 40 out of the roughly 320 days of music they were doing at the time through hosting smaller club functions, gameday (home and away etc.).

That's interesting Stella, as a music fan myself I think it could have worked. IMO, 280 out of a possible 320 days of live music is better than none at a pub that's boarded up and waiting for someone to do something with. From a Swans perspective the initial outlay would be a lot less than establishing a new club somewhere else. I wonder if it would be worth revisiting.

[Cheer Squad]

Hopefully someone at the Swans look at the Lions set up as a model to follow. Finding a suitable location will be the real problem in Sydney.

The funny thing there is that Springwood is practically in Logan, a long way from anywhere.

If you have a look at a map, you'll find that Brisbane is about as far away from Springwood as Sydney is ....from Homebush!

Maybe finding a suitable location in Sydney won't be that hard after all.

[Peace]

Agreed. How are you meant to have a beer over the internet?

That is a VERY scary thought...

[i'm-uninformed2]

many many years ago some friends of mine and I that used to bounce around in bands together .

What did you play - both instrument and musical styles?

[jono2707]

On the internet I can look great, know everything and be charming and witty without a even a sip of beer.....

[CJK]

I wish I was drinking now. Does that count?

[Untamed Snark]

Agreed. How are you meant to have a beer over the internet?

There's an ap for that

[BSA5]

God, what a depressing thought that is.

Agreed. How are you meant to have a beer over the internet?