TonyK
CibbuanoDemons seeking $1m life support
May 21st 2008 23:42
MELBOURNE's woes have extended to off the field, with the bottom-placed Demons expected to make a loss of more than $1million in their 150th year.
The Demons will make a submission to the AFL commission to boost financial assistance by $750,000 to the $1m mark in 2009.
This comes at a time when the league is considering abandoning its $6.4m financial assistance package, following calls from several club presidents who believe clubs should be forced to go it alone.
The annual special dividend fund currently benefits eight clubs.
The Demons have been on AFL support since 2004 when they first received $1.5m, with the same amount in 2005. Since 2006, Melbourne has received $1m each year.
McNamee refused to confirm or deny the that the Demons would make a $1m loss, but he did say the scheduled $250,000 assistance next year wouldn't be enough.
"We're not going to back the truck up, but clearly the $250,000 next year will not be enough," McNamee said.
The MCC supports Melbourne in proportion to the AFL, and McNamee said the Demons will seek the same $500,000 funding in 2009 as it did this year.
Melbourne's financial woes stem from poor on-field performance, which affects membership numbers, home-game attendances and merchandising.
The Demons have 26,400 members, but expect to reach last year's figure of 27,000. However, the previous administration budgeted for 30,000.
McNamee, who took over from former CEO Steve Harris two months ago, said his main mission was to adhere to an AFL request to present a new business plan to the league by August.
Harris, who was dumped this season, initially forecasted a $500,000 profit for this season, which was revised several months ago to a $500,000 loss.
The Demons will make a submission to the AFL commission to boost financial assistance by $750,000 to the $1m mark in 2009.
This comes at a time when the league is considering abandoning its $6.4m financial assistance package, following calls from several club presidents who believe clubs should be forced to go it alone.
The annual special dividend fund currently benefits eight clubs.
The Demons have been on AFL support since 2004 when they first received $1.5m, with the same amount in 2005. Since 2006, Melbourne has received $1m each year.
McNamee refused to confirm or deny the that the Demons would make a $1m loss, but he did say the scheduled $250,000 assistance next year wouldn't be enough.
"We're not going to back the truck up, but clearly the $250,000 next year will not be enough," McNamee said.
The MCC supports Melbourne in proportion to the AFL, and McNamee said the Demons will seek the same $500,000 funding in 2009 as it did this year.
Melbourne's financial woes stem from poor on-field performance, which affects membership numbers, home-game attendances and merchandising.
The Demons have 26,400 members, but expect to reach last year's figure of 27,000. However, the previous administration budgeted for 30,000.
McNamee, who took over from former CEO Steve Harris two months ago, said his main mission was to adhere to an AFL request to present a new business plan to the league by August.
Harris, who was dumped this season, initially forecasted a $500,000 profit for this season, which was revised several months ago to a $500,000 loss.
| 51 |
| Vote |
subscribe to this blog
