It's time to support OUR Club Swans

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  • Beaussie
    On the Rookie List
    • Mar 2003
    • 328

    It's time to support OUR Club Swans

    What an absolute disaster last night at Club Swans. Was really sad being there trying to support our club as the place was rockin with lots of people eating and drinking (NAB Cup on the TV screens throughout the club) unaware of what the rain was doing to the roof.

    The constant rain resulted in a pipe in the front street level bar bursting - flooding through the front street level seating area. Water was non stop flooding the whole area. Club Swans staff were quick to move us away. Our crew moved via the lift to Level 3 that was closed. Thank god we were there though to alert staff that the lights were dripping water. Moved from there back downstairs and within 5 minutes the evacuation alarms starting ringing throughout the club. Apparently the 3rd floor roof colapased under the pressure of the constant rain (who the #$% were the contractors to re-build our club..... dodgy?)

    Meanwhile, everyone in the club was evacuated out onto the street, before we were told that the Bourban next door was also evacuated and on fire. Was not long after that the fire brigade, police and ambulance were on the scene telling people to get on the other side of the street as they thought the buildings were going to collapse. My god, all I kept thinking was we are safe, but how much money will we lose with the club likely to be out of action for quiet some time. This to me was the last thing needed so close to the footy season starting.

    Please Swans fans, put your dislikes of the club aside and when the club re-opens, make an effort to support it and the fantastic Swans family staff working there - who I guess are now out of a job until the club re-opens. Seems so unfair right before the season to see OUR club in this state.
  • satchmopugdog
    Bandicoots ears
    • Apr 2004
    • 3691

    #2
    Are you for real or re-telling a dream. That sounds like something out of a thriller.

    That is unbelievable!
    "The Dog days are over, The Dog days are gone" Florence and the Machine

    Comment

    • Jewels
      On the Rookie List
      • Oct 2006
      • 3258

      #3
      I heard a brief mention of it on the morning news but I had no idea it was so serious. With the financial strife the club is in, I wonder if this is a disaster or a blessing in disguise.

      Comment

      • EMJ
        Go Swans Always
        • Jan 2003
        • 1076

        #4
        Thank you for the info. Believe some news about in on sunrise this morning. Nothing else available.

        this is realy sad to see the club destroyed like that.

        Hopefully repairs and rebuilding do not take long.

        Just when we hear of all the dream club rooms etc being opened at North Melbourne, Carlton etc.

        Swans need support now big time from AFL - guess that will never happen.

        Only out to help GWS.

        Heavy rain at SCG hope all is okay there for the Swans.
        Love those Swans

        Comment

        • CJK
          Human
          • Apr 2006
          • 2170

          #5
          Insurance scam!
          -

          Comment

          • ROK Lobster
            RWO Life Member
            • Aug 2004
            • 8658

            #6
            Kevin Sheedy would never have let it happen.

            Comment

            • DST
              The voice of reason!
              • Jan 2003
              • 2705

              #7
              Beleive it or not, this is blessing for the club.

              It temporarily removes the need to keep trading what is a negative cash flow for the club at present and probably allows them greater flexiblity to get out of the current tennant contract they have with the club and find more suitable premises to what they are trying to do.

              Let's hope this time they decided to seperate the two purposes and have a seperate social venue for match days etc and actually get into a business that will generate revenue for the club as a pure investment.

              I don't think the club should have tried to cater for both arrangements within the one premise, it was never going to work as it narrowed it's ability to attract customers being so closely aligned to the football club.

              DST
              "Looking forward to a rebuilt, new, fast and exciting Swans model in 2010"

              Comment

              • Kirkari
                On the Rookie List
                • Aug 2009
                • 1036

                #8
                I hope the insurance (QBE surely?) was up to date. And that they take to opportunity to find a new venue away from Kings Cross.
                Superman still wears Brett Kirk Pyjamas

                Comment

                • Beaussie
                  On the Rookie List
                  • Mar 2003
                  • 328

                  #9
                  Originally posted by DST
                  Beleive it or not, this is blessing for the club.

                  It temporarily removes the need to keep trading what is a negative cash flow for the club at present and probably allows them greater flexiblity to get out of the current tennant contract they have with the club and find more suitable premises to what they are trying to do.

                  Let's hope this time they decided to seperate the two purposes and have a seperate social venue for match days etc and actually get into a business that will generate revenue for the club as a pure investment.

                  I don't think the club should have tried to cater for both arrangements within the one premise, it was never going to work as it narrowed it's ability to attract customers being so closely aligned to the football club.

                  DST
                  I'm really not sure about the financial situation after asking staff at the club who said the club does run at a profit and the losses reported in the press were simply depreciation costs associated with the redevelopment. If that's the case wouldn't that be the case for any new club development?

                  The staff even went as far as to say attend the AGM in March to hear that. Like I said I'm not sure but would be interested in hearing more about it as judging by the numbers there eating, drinking and gambling the last couple of weeks I've been there, I'm not sure how it could be running at a loss.

                  Comment

                  • Cheer Squad
                    Sydney Swans
                    • Apr 2007
                    • 1948

                    #10
                    Sorry to hear about the trouble. I think it's a great venue and will continue supporting it once it re-opens.

                    Comment

                    • Bas
                      Veterans List
                      • Jan 2003
                      • 4457

                      #11
                      This is a job for superman.

                      Only danger I had last night was falling off the couch.

                      Another reason why this association should end.

                      Near disaster fortunately averted. A more appropriate venue near the SCG would make alot more sense. Subsidised parking at Fox Studios if you have a meal there for example.

                      I haven't walked through Kings Cross in 20 years. Although I did sprint through there last month chased by several bouncers
                      In memory of my little Staffy - Dicey, 17.06.2005 to 1.12.2011- I'll miss you mate.

                      Comment

                      • Wardy
                        The old Boiler!
                        • Sep 2003
                        • 6676

                        #12
                        Hmm I must call my colleagues at QBE to see if I can get any info.
                        I used to be indecisive, but now I'm not so sure..................
                        Chickens drink - but they don't pee!
                        AGE IS ONLY IMPORTANT FOR TWO THINGS - WINE & CHEESE!

                        Comment

                        • DST
                          The voice of reason!
                          • Jan 2003
                          • 2705

                          #13
                          Originally posted by Beaussie
                          I'm really not sure about the financial situation after asking staff at the club who said the club does run at a profit and the losses reported in the press were simply depreciation costs associated with the redevelopment. If that's the case wouldn't that be the case for any new club development?

                          The staff even went as far as to say attend the AGM in March to hear that. Like I said I'm not sure but would be interested in hearing more about it as judging by the numbers there eating, drinking and gambling the last couple of weeks I've been there, I'm not sure how it could be running at a loss.
                          Conseidering we had to get a rent holiday and we owed more than $1 million in back rent at one stage it's pretty safe to assume that the club is running on negative cash flow at this stage.

                          However it, you are correct the losses reported where write downs against the asset which was being carried at far to higher value on the club's books and were designed to make sure that if we sold the business this year that we would not have booked a large paper loss in the one year.

                          DST
                          "Looking forward to a rebuilt, new, fast and exciting Swans model in 2010"

                          Comment

                          • Wardy
                            The old Boiler!
                            • Sep 2003
                            • 6676

                            #14
                            The beauty of having an insurance company such as QBE as your major sponsor is that they would ensure that coverage on all Swans assests would be top of the range. They will have adequate coverage in place to cover not only the damage & restoration, increase cost of workings etc but even relocation should they decide to open up elsewhere. They would also have good business interruption cover which covers all economic losses over a period up until they are open for business again, (and with in an indemnity period of say 2 years) even if it went over that period - I'm sure that insurers would accomodate that . Do we own the actual building or are we a long lease tenant?
                            I used to be indecisive, but now I'm not so sure..................
                            Chickens drink - but they don't pee!
                            AGE IS ONLY IMPORTANT FOR TWO THINGS - WINE & CHEESE!

                            Comment

                            • iigrover
                              Warming the Bench
                              • Sep 2005
                              • 245

                              #15
                              The property is owned by ING Real Estate Entertainment Fund (not the Sydney Aussie Rules Social Club nor the Swans footy club). IEF is also listed on the ASX, if you want to look up any further info on it.

                              Property portfolio - ING Real Estate

                              In that respect, it is IEF who will be responsible for fixing the damage to the building / insurance. Unfortunately for them, they also own the Bourban next door...

                              I think where most people get confused is that Richard Colless is Chairman of each of IEF, SARSC, and of couse the Swans. Some might argue that presents a few conflicts of interest. But if he's keeping the Swans as no.1 in his list of preferences, Im all for it :-)

                              And if anyone is really keen, they can attend a briefing by Richard on the ING Real Estate Entertainment Fund at 2pm, Monday 22 February 2010, on Level 4 of the Hilton Sydney.

                              Comment

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