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Thread: Carlton till paying "under-the-counter" money

  1. #1
    Ext User(David Clayton) Guest

    Carlton till paying "under-the-counter" money

    From
    http://www.realfooty.theage.com.au/r...016862649.html

    Collins vows to stick it out

    By Jake Niall
    November 17, 2005

    CARLTON president Ian Collins has indicated to members that he intends to
    continue leading the club through what he has described as the "most
    difficult time in club history".

    Collins has taken the unprecedented step of sending a long letter to all
    of Carlton's 33,000 members in which he outlines the club's financial
    problems in detail, braces members for a loss and apologised for a
    "totally unacceptable" season on the field.

    In explaining the financial circumstances that afflict the Blues, Collins
    cited a series of commitments his board had inherited — including an
    apparent reference to the money it owed past players in under-the-counter
    payments that were outside of the salary cap.

    Carlton has owed past champions Stephen Silvagni and Craig Bradley
    substantial sums that were promised to them in under-the-counter payments
    while they were playing — debts the club acknowledged in its annual
    accounts.

    Collins listed four underlying factors that explained Carlton's financial
    difficulties, particularly its ongoing cash flow problem.

    They consisted of the debt from the construction of the Legends Stand,
    substantial long-term player contracts that would expire at the end of
    2006, the nearly $1 million fine for salary cap cheating and what Collins
    termed "a number of commitments (contracts) to former players, which were
    'off-balance sheet' that had to be extinguished".

    The Age understands that Collins was referring to the illicit payments
    Carlton promised to the likes of Silvagni and Bradley and which, at the
    urging of the club, prompted the champion pair to tell the AFL of the
    illicit payments when the Collins board swept John Elliott's
    administration from office back in 2002.

    Collins said that the Blues would have been forced to take the drastic
    step of using the AFL's competitive balance fund for struggling clubs had
    it not relocated its home games from Optus Oval to Telstra Dome and the
    MCG. Collins, as the chief executive of Telstra Dome, removed himself from
    the contentious talks that led to the Blues embracing the stadium he
    manages.

    Collins indicated his desire to continue on as president when he told
    members: "I am however now fully fit and have never been more committed to
    the Carlton Football Club and am energised to see the club achieve success
    both on and on the field."

    Collins' declaration quells speculation about his future, which followed
    his health issues in 2005, when he had a heart attack and serious leg
    injury.

    Carlton insiders also have been aware of talk about potential challenges
    to the Collins board, which will be reduced by two when past players David
    McKay and Ken Hunter finish up at year's end. At least three directors —
    club legend Stephen Kernahan, John Valmorbida and Chris Pavlou — face
    election.

    Collins told members that the recent review of the football department had
    concluded that the club was under-resourced, "particularly given the
    required fast track development of a very young list of players". This had
    led the club to install new technology and hire new coaches Terry Daniher
    and ruck specialist Gary Dempsey.

  2. #2
    Ext User(Jezza) Guest

    Re: Carlton till paying "under-the-counter" money


    "David Clayton" <dcstar@XYZ.myrealbox.com> wrote in message
    news:pan.2005.11.16.21.48.06.637831@XYZ.myrealbox. com...

    > In explaining the financial circumstances that afflict the Blues, Collins
    > cited a series of commitments his board had inherited - including an
    > apparent reference to the money it owed past players in under-the-counter
    > payments that were outside of the salary cap.
    >
    > Carlton has owed past champions Stephen Silvagni and Craig Bradley
    > substantial sums that were promised to them in under-the-counter payments
    > while they were playing - debts the club acknowledged in its annual
    > accounts.
    >
    > Collins listed four underlying factors that explained Carlton's financial
    > difficulties, particularly its ongoing cash flow problem.
    >
    > They consisted of the debt from the construction of the Legends Stand,
    > substantial long-term player contracts that would expire at the end of
    > 2006, the nearly $1 million fine for salary cap cheating and what Collins
    > termed "a number of commitments (contracts) to former players, which were
    > 'off-balance sheet' that had to be extinguished".
    >
    > The Age understands that Collins was referring to the illicit payments
    > Carlton promised to the likes of Silvagni and Bradley and which, at the
    > urging of the club, prompted the champion pair to tell the AFL of the
    > illicit payments when the Collins board swept John Elliott's
    > administration from office back in 2002.



    Yes, we're paying under the counter money, but over the counter. Just
    honouring the promises made to former players for which we've been
    punished...



  3. #3
    Ext User(Neil Green) Guest

    Re: Carlton till paying "under-the-counter" money


    "David Clayton" <dcstar@XYZ.myrealbox.com> wrote in message
    news:pan.2005.11.16.21.48.06.637831@XYZ.myrealbox. com...
    > From
    > http://www.realfooty.theage.com.au/r...016862649.html
    >
    > Collins vows to stick it out
    >
    > By Jake Niall
    > November 17, 2005
    >
    > CARLTON president Ian Collins has indicated to members that he intends to
    > continue leading the club through what he has described as the "most
    > difficult time in club history".
    >
    > Collins has taken the unprecedented step of sending a long letter to all
    > of Carlton's 33,000 members in which he outlines the club's financial
    > problems in detail, braces members for a loss and apologised for a
    > "totally unacceptable" season on the field.
    >
    > In explaining the financial circumstances that afflict the Blues, Collins
    > cited a series of commitments his board had inherited - including an
    > apparent reference to the money it owed past players in under-the-counter
    > payments that were outside of the salary cap.
    >
    > Carlton has owed past champions Stephen Silvagni and Craig Bradley
    > substantial sums that were promised to them in under-the-counter payments
    > while they were playing - debts the club acknowledged in its annual
    > accounts.
    >
    > Collins listed four underlying factors that explained Carlton's financial
    > difficulties, particularly its ongoing cash flow problem.
    >
    > They consisted of the debt from the construction of the Legends Stand,
    > substantial long-term player contracts that would expire at the end of
    > 2006, the nearly $1 million fine for salary cap cheating and what Collins
    > termed "a number of commitments (contracts) to former players, which were
    > 'off-balance sheet' that had to be extinguished".
    >
    > The Age understands that Collins was referring to the illicit payments
    > Carlton promised to the likes of Silvagni and Bradley and which, at the
    > urging of the club, prompted the champion pair to tell the AFL of the
    > illicit payments when the Collins board swept John Elliott's
    > administration from office back in 2002.
    >
    > Collins said that the Blues would have been forced to take the drastic
    > step of using the AFL's competitive balance fund for struggling clubs had
    > it not relocated its home games from Optus Oval to Telstra Dome and the
    > MCG. Collins, as the chief executive of Telstra Dome, removed himself from
    > the contentious talks that led to the Blues embracing the stadium he
    > manages.
    >
    > Collins indicated his desire to continue on as president when he told
    > members: "I am however now fully fit and have never been more committed to
    > the Carlton Football Club and am energised to see the club achieve success
    > both on and on the field."
    >
    > Collins' declaration quells speculation about his future, which followed
    > his health issues in 2005, when he had a heart attack and serious leg
    > injury.
    >
    > Carlton insiders also have been aware of talk about potential challenges
    > to the Collins board, which will be reduced by two when past players David
    > McKay and Ken Hunter finish up at year's end. At least three directors -
    > club legend Stephen Kernahan, John Valmorbida and Chris Pavlou - face
    > election.
    >
    > Collins told members that the recent review of the football department had
    > concluded that the club was under-resourced, "particularly given the
    > required fast track development of a very young list of players". This had
    > led the club to install new technology and hire new coaches Terry Daniher
    > and ruck specialist Gary Dempsey.


    It's called wiping the slate clean and moving on.
    No other option if the club wants to restore it's image and integrity.



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