by L-Jimmy Tue Jun 20, 2023 10:46 am
Revraiser wrote:@L-Jimmy Ru saying it currently is run like a horses ass across the board?
my tv broke wrote:
I don't know much about all this stuff. I would have thought (at least the bottom half of clubs) are operating on a far smaller scale than those sorts of organisations. I don't disagree with what you suggest but then the clubs have to find the money to pay for proper guidance (and/or proper guidance be willing to get involved). Again, I don't know what I'm talking about anyway.
The Broncos really fucked things up with proper guidance in the last 10 years too. Financially well off but the football dept was a mess. The fall out re Bennett. Hiring Siebold types who interview well in front of a board but can't actually pull together a group of footy players.
Let's look at Cronulla, a smaller club. Last year they turned over about $36mn in revenue, with an asset base of around $47mn. Low profits, but that's cool - should be for a community org.
Compare Insignia Financial - ranked about 200 in the ASX (and with seemingly dodgy corporate governance - see their worrying sub-brand IOOF). About $15.bn in revenue, with $1.9bn asset base.
So yeah, fair enough mtb. Two orders of magnitude different in size. And they have bad corporate governance too.
But, rev is right. The thing about better governance is that it improves a range of financial and non-financial outcomes (even for little Aussie companies!). So, yeah, you'd get less of the Siebold effect, and less of the stupid contract churn. And more profitable clubs with more money to put into juniors.
But, much less fat at the top. Less nice meetings, less favour-swapping. And that's why the dual clubs fare so badly - dependent on those mechanisms for board functioning. Same as the small family clubs (Manly, Titans); no effective oversight means shit outcomes.
drain the fucking swamp, bitches.