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11 Nov 2018
Memories From Yesteryear..Bob Coleman(Perth)

TOPIC: What's next in the WP finance fiasco WAFC?

What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157214

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chaddy22 wrote: Any truth in the rumour that west perth are changing their club song .Apparently the beatles song money could be considered.The best things in life are free but you can keep them for the birds and bees now give me money that's what I want..


Hilarious, yet again we have a Royals kettle calling a Falcons pot black........

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157216

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mikeh wrote:

chaddy22 wrote: Any truth in the rumour that west perth are changing their club song .Apparently the beatles song money could be considered.The best things in life are free but you can keep them for the birds and bees now give me money that's what I want..


Hilarious, yet again we have a Royals kettle calling a Falcons pot black........


:) Good to see some humour in the forums

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157218

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I think the fact that the players and coaching group were able to shut out the stuff that was happening around them was impressive.

At least that shows that there is some pride somewhere..

Question is if the rumours are proven true and Bill heads to Subi and Jeff Valentine lands at WP, will the same grit and determination remain.

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157226

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mikeh wrote:

chaddy22 wrote: Any truth in the rumour that west perth are changing their club song .Apparently the beatles song money could be considered.The best things in life are free but you can keep them for the birds and bees now give me money that's what I want..


Hilarious, yet again we have a Royals kettle calling a Falcons pot black........

Is that a reference to Aaron or the balance sheet!

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157227

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BC wrote: Now that the dust has settled, the administrators have done their business, creditors have been sorted albeit unsatisfactorily, debts have been cleared, the next question we as WAFL supporters and taxpayers should be asking is where did the $800k go and what action has been taken against those who perpetrated this embarrassing shambles? From what I can see the only losers in this are small businesses and the like who were forced to take 4 cents in the dollar with no punitive action whatsoever against the people responsible including the Chairman, the CEO and senior members of staff other than to be shown the door. That is not good enough....what's next WAFC or are you going to let it just fade away and hope time takes its course? When are we going to find out where the $ went, why it happened and what is going to be done against those who took the club down this path. If nothing else some accounting standards must have been crossed or broken and if the person performing those tasks at the club is a CPA or CA then the relevant professional body should be notified. What's next Gavin Taylor?


Absolutely BC, the culture of silence is unacceptable, and the lack of disciplinary action by the league and WAFC stinks not just of amateurism but of cover up.

The actions over the last few weeks have been unprecedented in WAFL history, never has a clubs players and coaching staff been financed by an outside body to complete the season, and never has a club failed to honour its commitments to the extent of WPFC. This is an insult to the clubs that have battled honourably to meet and satisfy debts in the past, I know of SDFC, SFFC, Perth, Subiaco resorted to nothing but their own initiative via supporters to raise ever cent to get back above board, and that was without the dubious accounting methods that Korda Mentha stated needed more investigation. Will that be done WAFC?

Lets not forget that WPFC have had the luxury of an additional $250,000.00 gifted to them this season from the WAFC above and beyond every other league club to pay players and coaches.

No other professional or semi professional comp would let the perpetrators go unaddressed in terms of sanctions, this is a test the WAFC is failing with embarrassing aplomb , and that's saying something given its total incompetence history wise.
The following user(s) said Thank You: BC

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157228

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Beasley Hutton wrote: The SAFC have fined North Adelaide 10k and docked them 4 points (WAFL equivalent would be 8 points) for the 2019 season for a legitimate mistake in having an extra player on the field for 4 minutes, the NRL docked the Melbourne Storm their points for a whole season and stripped them of 2 Premierships for salary cap breaches back in around 2009, many clubs in the EPL & SPL (Portsmouth, Wimbledon, Rangers etc) have had their points completely wiped off and sent down to the bottom division in their respective League for going into voluntary administration during a season......what have the WAFC done as a consequence to WP to this point???
Paid the WP players and staff for them! :blink: :S :blush:

I will add I am glad WP have survived as I dont want to see any of our Traditional clubs go under and I have always had a lot of respect for them as a club but after what has transpired this season there just has to be some on field consequences for this result whether they be as I posted earlier- salary cap reduction, reduced player points, no recruiting outside their zone for 3 seasons, selling off of players to pay back loan, ladder points deductions etc!


Yep, Glasgow Rangers ( who I hate ) went into Admin and eventually Liquidation , they weren't just relegated, but wiped completely at one stage, before a last minute bid, an entrepreneur bought the SPL Licence for next to nothing and restarted the entire thing from scratch as a "new" Rangers Pty. Ltd., ( Phoenix Company ) but they were relegated down two divisions and had to work their way back up over two or three seasons to SPL.

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Last edit: by Bazza.

What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157230

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The Board have been removed although i see they retained one director and demoted the president. Cant see them lasting at the next AGM though from what i hear around the traps. The WAFC have only lent the club money so i assume WP will pay that back.

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Last edit: by astro.

What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157232

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astro wrote: The Board have been removed although i see they retained one director and demoted the president. Cant see them lasting at the next AGM though from what i hear around the traps. The WAFC have only lent the club money so i assume WP will pay that back.

Similar to the Peel loan from 6 years ago...do we have a record if that has ever been paid back in full?

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157234

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I remember the $1 Million Loan that was extended to WAFL/WAFC West Coast Eagles, to bail them out in 1989 was repaid in full.

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What's next in the WP finance fiasco WAFC? 1 month 3 weeks ago #157236

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kirbs wrote:

BC wrote: Now that the dust has settled, the administrators have done their business, creditors have been sorted albeit unsatisfactorily, debts have been cleared, the next question we as WAFL supporters and taxpayers should be asking is where did the $800k go and what action has been taken against those who perpetrated this embarrassing shambles? From what I can see the only losers in this are small businesses and the like who were forced to take 4 cents in the dollar with no punitive action whatsoever against the people responsible including the Chairman, the CEO and senior members of staff other than to be shown the door. That is not good enough....what's next WAFC or are you going to let it just fade away and hope time takes its course? When are we going to find out where the $ went, why it happened and what is going to be done against those who took the club down this path. If nothing else some accounting standards must have been crossed or broken and if the person performing those tasks at the club is a CPA or CA then the relevant professional body should be notified. What's next Gavin Taylor?


Settle BC, what is the need to rush in, if WAFC are doing their job they will be going through the books, dotting every I crossing every T, and come up with the necessary evidence/proof before taking to task whoever was not compliant in their position for this too happen. What's to say there may be legal charges if the paper trail leads to that, in that case need the proof first, no point rushing in like you are suggesting.

In saying that though, if WAFC try to bury it, they are as weak as.


All good points Kirbs but I've not seen anything from the WAFC that is the path they're going down. If I were a betting man which I'm not, I'd lay money that once the new board has started to make changes, the WAFC get their money repaid and it starts to fall off the front page, the WAFC will be more than happy to let it drift off into the annuls of history and those responsible will be long gone.

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