One of the big sporting stories this week is that Adelaide United (known as the reds to Football (Soccer) fans) believe they can solve their debts problems by taking over an activity that the Blues (Yes that is the Sturt Footy Club (as in the the SANFL club)) which, in turn, will solve their debt problems.
As many Aussie rules fans would be aware and probably the majority of Unley residents the Sturt Footy Club has been on a debt reduction program for a while now. One of the strategies they were working on was to rid itself of the Castle Tavern and its 40 pokie machines.
Sturt purchased the Tavern some time back now as a panacea for its then debt problems but what they found was the Tavern has not provided the revenue base for the club it had planned for. What it did do was extend its debt as it had to finance the purchase of the pub and it 40 machines.
So the current strategy is to rid itself of that debt.
Adelaide United is struggling to remain viable against the big revenue generating A-League clubs of the eastern sea board. Their theory. Buy a pub with pokie machines.
Sounds a lot to me like one man’s rubbish is another man’s treasure.
As a sporting tragic myself I hope both clubs win with this transaction. Struggling however with how this can be. What do United know that Sturt don’t? Or is that the other way around?