JFF says revival due to growth of real estate holdings

[Tilla]

Is this the same buildingBoxhill wanted to sell when he landed in office that FIFA had to put a stopping to it?

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Dennise Williams, Observer staff reporter
Thursday, February 15, 2007


THE Jamaica Football Federation (JFF) has turned around its financial position through the growth of its real estate holdings and a reduction of its home matches to cut costs.

The value of its building in New Kingston was $17 million in 2003, but jumped in value to $48 million in 2006. With the addition of property next door to the Munro College in St Elizabeth, valued at $20 million, the JFF real estate holdings spiked by 300 per cent to $68 million.

"It is part of the FIFA requirement to own our own building, so that is why we have the property in New Kingston. We also acquired the Academy adjoining Munro," said Andrea Messam, chairman of the finance committee of the JFF.

"These two properties account for the assets that the JFF owns," she said.

Messam said the Academy is currently being refurbished, and when that is completed, "it will double in value".

The JFF is also considering the possibility of renting out parts of the New Kingston offices to earn extra income. "Currently, the New Kingston property is only occupied by us, but we are looking at gaining revenue by more efficient use of the space."

In 2003, for every dollar of assets held by the JFF, it had three dollars of liabilities. Today, the federation has paid down its debt to the point where for every dollar of assets, it only owes one dollar in liabilities.

"We were able to have a surplus of cash to pay down our debt," Messam told the Observer.

This surplus cash came from income of $214 million. However, the JFF spent $193 million. Messam said: "We grew our income by taking an unpopular, but necessary decision not to play as many home games because they are done at a financial loss. In 2006, we booked a $16 million loss to facilitate four home matches."

Despite the losses to play in Jamaica, the JFF earned a profit of $21 million. Going forward, Messam explained that more home matches are now being planned.

"Corporate Jamaica has been very gallant in their commitment to us. We can now strategically increase the number of home matches from six to 10 for the year," she noted.

Local brewing giants, Red Stripe, alone has committed $100 million to the programme leading up to the World Cup in South Africa in 2010.

The JFF expects that for 2007, profits will grow by 25 per cent to $25 million.

[Reggae-Fan]

RE: JFF says revival due to growth of real estate holdings

This surplus cash came from income of $214 million. However, the JFF spent $193 million. Messam said: "We grew our income by taking an unpopular, but necessary decision not to play as many home games because they are done at a financial loss. In 2006, we booked a $16 million loss to facilitate four home matches."

So, lets see now. We are in a situation where we cannot play games at home, because we do so at a loss? So when we used to play to 30K crowds in the office vs teams like Nigeria, Bulgaria, Santosetc, every month, you mean to tell me that we never realised profits or even "break even" from those games? Our best chance of making it to another world cup is through the results we get in our home gamnes...if we cannot afford to get our players familiar with playing in their own home filed..then we might as well take 2010 off our mind right now. What these idiots are telling us is that we have to depend on other teams "inviting" us to play games in their countries before we get to play an international game. No wonder we have played so few games under these idiots.


These clowns come up with something new everyday. I wont even say anything about the building in New Kingston. This is the building that Crenston and his cronies wanted to sell when they took office...

Lord help us.

Time for us to re-organize and get these stooges out of the JFF -

FACCAC (Fans Against Clueless Crenston <U>And Cronies</U>) Get Ready!

[Mosiah]

RE: JFF says revival due to growth of real estate holdings

[quote]Reggae-Fan (2/15/2007)

So when we used to play to 30K crowds in the office vs teams like Nigeria, Bulgaria, Santosetc, every month, you mean to tell me that we never realised profits or even "break even" from those games?

Excellent question! But don't ever ask it if Burrell is president. Where do you think "go jump in the sea" come from?

[Karl]

RE: JFF says revival due to growth of real estate holdings

[quote]Mosiah (2/15/2007)

Reggae-Fan (2/15/2007)

So when we used to play to 30K crowds in the office vs teams like Nigeria, Bulgaria, Santos etc, *+ sponsorship dollars every month, you mean to tell me that we never realised profits or even "break even" from those games?

Excellent question! But don't ever ask it if Burrell **and or Boxhillis president. Where do you think "go jump in the sea" come from?

* and ** are my additions and not words of the previous posters.

[Mosiah]

RE: JFF says revival due to growth of real estate holdings

<DIV>You are being disingenuous, Karl. The Boxhill administration has offered such information to the public. No one has to ask. And if one had to ask, have you ever heard them rebuff anyone?</DIV><DIV></DIV><DIV>Answer that question directly! Leave the fluff for another time.</DIV>

[Karl]

RE: JFF says revival due to growth of real estate holdings

Mosiah (2/15/2007)<DIV>You are being disingenuous, Karl. The Boxhill administration has offered such information to the public. No one has to ask. And if one had to ask, have you ever heard them rebuff anyone?</DIV><DIV></DIV><DIV>Answer that question directly! Leave the fluff for another time.</DIV>

No my friend! (N) It is you who has been disingenious! The post is about putting on games at a loss.

...and, the article clearly implies and states there have been losses under both Burrell's and Boxhill's leadership. You chose toomit any reference to Boxhill's regime during your response. Fairness would have demanded you do so.

The matter oflevel oftransparency during this Boxhill regime can be debated in anotherthread.

We all know where you and I stand on who we wish to be the next president of the JFF...but, where we differ is your insistance on casting Burrell in only a negative light. The truth is both Burrell and Boxhill have done negative things and positive things. Balance/fairness requires we speak of both as the occasion/situation warants.

[Mosiah]

RE: JFF says revival due to growth of real estate holdings

<DIV>Are you going to answer the fucqing question or not?</DIV><DIV></DIV><DIV>HAS ANYONE EVER BEEN TOLD "IT'S NONE OF YOUR BUSINESS" BY THEBOXHILL ADMINISTRATION WHEN THEY HAVE SOUGHTFINANCIAL INFORMATION?</DIV><DIV></DIV><DIV>It's a simple **** question. We can talk about who I am supporting and what I can do to appear fair. First, answer this very simple question. You are the one who brought it up when you took it upon yourself to amend my post.</DIV><DIV></DIV><DIV>Well, deal with the consequences of your ill-advised action!</DIV>

[Assasin]

RE: JFF says revival due to growth of real estate holdings

All me can say is some people on the forum who wanted to rip Burrell apart better think again.

The man had a little more insight than some of us think. It is alway better to own something.

Some of us suggested about 3 years ago Boxhill rent out some of the JFF building. Can you imagine the income he would have gotten.

Some people act like people just hate Boxhillbut all we want to see is proper production and nothing else.

[Reggae-Fan]

RE: JFF says revival due to growth of real estate holdings

[quote]Karl (2/15/2007)

Mosiah (2/15/2007)

Reggae-Fan (2/15/2007)

So when we used to play to 30K crowds in the office vs teams like Nigeria, Bulgaria, Santos etc, *+ sponsorship dollars every month, you mean to tell me that we never realised profits or even "break even" from those games?

Excellent question! But don't ever ask it if Burrell **and or Boxhillis president. Where do you think "go jump in the sea" come from?

* and ** are my additons and not words of the previous posters.

[Mosiah]

RE: JFF says revival due to growth of real estate holdings

Assasin (2/15/2007)All me can say is some people on the forum who wanted to rip Burrell apart better think again.

The man had a little more insight than some of us think. It is alway better to own something.

Some of us suggested about 3 years ago Boxhill rent out some of the JFF building. Can you imagine the income he would have gotten.

Some people act like people just hate Boxhillbut all we want to see is proper production and nothing else.

No, assasin. It's not always better to own something! Don't fall for that. That's what people who trying to sell you something will say. People like Karl!

[Karl]

RE: JFF says revival due to growth of real estate holdings

[quote]Reggae-Fan (2/15/2007)

Karl (2/15/2007)

Mosiah (2/15/2007)

Reggae-Fan (2/15/2007)

So when we used to play to 30K crowds in the office vs teams like Nigeria, Bulgaria, Santos etc, *+ sponsorship dollars every month, you mean to tell me that we never realised profits or even "break even" from those games?

Excellent question! But don't ever ask it if Burrell **and or Boxhillis president. Where do you think "go jump in the sea" come from?

* and ** are my additions and not words of the previous posters.

What does thisthread have to do with teh former JFF administration??

Perhaps, it is pointing out the obvious - under both regimes we have been losing on these 'home matches' - and, perhaps...it may have as a subliminalsub-text a call to turn that situation around?

[Assasin]

RE: JFF says revival due to growth of real estate holdings

for most people it is.

Especially with inflation and devaluation in Ja.

When I left Ja I had some Jamaican $$$$ in the bank at 5.50 to one and years later I wish I had own a piece of land as we know where the $$$$ went. you are correct Mo but in an environment in like Ja is best to invest in real estate or keep the US bucks. Over a 5 year period owning real estatein Ja who have ever lost on real estate?

[Mosiah]

RE: JFF says revival due to growth of real estate holdings

Okay, so you are agreeing that it is not always better. Good!

[Assasin]

RE: JFF says revival due to growth of real estate holdings

yeah I agree with you.

Most of the times however it is.