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Joined October 2017
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And without the Super Rugby government funding of $3,500,000 paid up front in 2018 for periods of 2019 and beyond , the cash balance would have been about $3 m deficit for the 2018 financial year! Thank goodness the Victorian government came good with their payout to RA ( I didn’t want to go to this, but the numbers have led me there) and that is what saved the Melbourne Rebels – the big bucks up front from Tim Pallas.
Rugby Australia names panel for Folau code of conduct hearing
Rhys, but she didn’t say anything about accounting discussions ?
Rugby Australia names panel for Folau code of conduct hearing
TWAS, Do you know for a fact that the remainder of the Qantas sponsorship was never the issue?
Rugby Australia names panel for Folau code of conduct hearing
Yes TWAS, it is not listed on the ASX, well done.
However, the reference was to the analysis of the financials, not the performance of the entity. In which case, a simple analysis by a boofhead like me has revealed that RA are in a perilous financial position, having received Sponsorship money in 2018 that relates to their performance in 2020, one of their key players who they signed up for four years is about to get the sack and the underlying performance of the core Wallaby team is woeful under Michael Cheika, a coach who many argued should have been sacked last year but some how hung on to the sinking ship. Yet the Directors have signed off on last year’s accounts with an optimistic notion that dreams and hopes really can come true.
Rugby Australia names panel for Folau code of conduct hearing
if it has locked them in to pulling forward the revenue year after year, then it hasn’t ‘happened once’, it’s happened time and time again
Rugby Australia names panel for Folau code of conduct hearing
How is Beale’s tonsilitis? I do hope he is up to playing at 100% this week. (hope that was classy and genuine enough for you Fionn)
Foley says Folau is hurting the Waratahs
At least QANTAS can no longer dictate what RA do, since they can not threaten to withold the sponsorship money – RA don’t have the money to give it back and QANTAS are stuck with them until end of 2020. After that hopefully we’ll all have a new board and CEO
Rugby Australia names panel for Folau code of conduct hearing
As a Rebels supporter I am unmoved by your pain. Suck it up sugar.
Foley says Folau is hurting the Waratahs
What is also of concern is that $8m of Deferred revenues have been received in 2018 that relates to the activities of 2020.
Rugby Australia names panel for Folau code of conduct hearing
Sponsorships $4.364m as a CL and $5m as a NCL, World Rugby Grants $4.055 m, Super Rugby Government Funding $0.5 m as a CL and $3m as a NCL, Ticketing $99,000, Other $610,000. So TWAS, plenty of sponsorship in advance, almost $10m actually.
Rugby Australia names panel for Folau code of conduct hearing
a second area of concern is that they received money in 2018 that is a deferred revenue item classified as a NCL, meaning that it wont vest until 2020 – two years later! holy shit
Rugby Australia names panel for Folau code of conduct hearing
I didn’t even think of that – that is a real concern. yep, without the deferred Revenue items, CA would be 20.117m and CL would be 18.754 m, or 1.07 : 1. Very fine line of liquidity had they not received that revenue early, default. – Note: the deferred Revenues have been split, $9.628 as CL and $8 m as NCL, hence the adjustment to CL. What do you think of those figures?
Rugby Australia names panel for Folau code of conduct hearing
but since you mentioned it, I took a look and noticed that they have $17.628 m Deferred Revenue – this means they have received the cash from their sponsors and gov grants in advance of when they will match it in an accounting period. Without this up front cash, the cash position would be $453,000 instead of $18.081 m. Interesting eh?
Rugby Australia names panel for Folau code of conduct hearing
the 2018 annual report has been released a week or so ago
Rugby Australia names panel for Folau code of conduct hearing
excellent read.
Disappointed that you mentioned NFJ but not PFS who has been very vocal in calling for IF to be sacked immediately – PFS, the atheist racist journo (remember when he called a black sports official a gorilla but whitesplained that as a term used back home to describe security guards) now crucifies the Tongan descended footballer for holding religious beliefs that more than 45 000 people have click liked.
Cheika stumbles in first test of new Wallabies paradigm
45,000 people have liked Izzy’s post. Two men and a dog watch most super rugby games. Surely if I did a walk through the streets of Geelong, say, and asked the folk there if they knew who Izzy Folau was I would get a lot of head shakes. So, who the hell cares what he says on his instagram page. He sure isn’t preaching to me. I don’t give a crap what he says, but I do like watching him play – actually I hate watching him on a bad day.
In the scheme of things, Pulver axed the Force. Chieka sank the wallabies. Izzy quoted from the bible.
Israel Folau to fight Rugby AU sanction
no TWAS he didn’t say that either. Judgement is for God alone not Izzy.
Israel Folau to fight Rugby AU sanction
when they find out who the liar is at least we’ll know which one is going to hell
Israel Folau to fight Rugby AU sanction
and, if his contract is water tight and he gets dropped – for a social media post, I’m guessing he can sue RA for failing on their side of the employment contract.
Israel Folau to fight Rugby AU sanction
not to be pedantic, but if Castle had specified what the ‘disciplinary action’ would be I would think RA would have more of a case. As it is, ‘disciplinary action’ may mean a two week suspension. Game. Set. Match.
Israel Folau to fight Rugby AU sanction
I know you were making a joke, but, in all seriousness, I was once with a consulting group that were interviewing retired religious folk and someone poked the elephant in the room and we were told something like this: we are all humans, and as humans, we are fallible , that’s why we go to confession. So, not really joking there Olly.
Israel Folau issued breach notice, has 48 hours to respond
If it happens again and again then it is not a one off deficit. It is an ongoing issue.
Rugby Australia names panel for Folau code of conduct hearing