TonyK
CibbuanoPort seeks financial support from AFL
March 17th 2009 04:50
PORT ADELAIDE has revealed it has asked the AFL for millions of dollars in emergency funding.
Port chief executive Mark Haysman said the club would be seeking an amount in the 'seven-figure region' per annum for the next three years.
The Power recorded a $1.4m loss last year and Haysman said the club wanted assistance while it looks to renegotiate a deal with AAMI Stadium.
Port, who averaged crowds of about 23,000 last season, will need close to 28,000 people to attend games just to break even in 2009.
"The biggest single challenge is around our stadium economics, we have a robust-based business but our stadium economics need to change," Haysman said.
"It's about getting the right share of the pie and that pie is what is generated out of the footy economy in this state."
"The Port Adelaide Football Club is obviously critical to footy in this state. We have our challenges that we need to sort out and we are working through those."
Haysman also dismissed suggestions that building company Bianco would struggle to deliver its $750,000 commitment to the club.
"Bianco are a terrific business and a great supporter of sport in this state and in particular the Port Adelaide Football Club," he said.
"They are rock solid. We have a payment plan in place with them and there is no doubt that they will be paying so they're definitely on the guernsey for 2009 and 2010, so there's no question about that.
"That speculation coming out of Melbourne of where Bianco are at is mischievous and not helpful. They are working through some challenging times, as all businesses are right now, but there's no doubt that they will be paying and there's no doubt about their commitment to this footy club."
Haysman did confirm that Vodafone won't be renewing their sponsorship next year.
A decision on whether or not Port will receive funds from the league is expected to be made by the AFL commission in the next six to eight weeks.
Port chief executive Mark Haysman said the club would be seeking an amount in the 'seven-figure region' per annum for the next three years.
The Power recorded a $1.4m loss last year and Haysman said the club wanted assistance while it looks to renegotiate a deal with AAMI Stadium.
Port, who averaged crowds of about 23,000 last season, will need close to 28,000 people to attend games just to break even in 2009.
"The biggest single challenge is around our stadium economics, we have a robust-based business but our stadium economics need to change," Haysman said.
"It's about getting the right share of the pie and that pie is what is generated out of the footy economy in this state."
"The Port Adelaide Football Club is obviously critical to footy in this state. We have our challenges that we need to sort out and we are working through those."
Haysman also dismissed suggestions that building company Bianco would struggle to deliver its $750,000 commitment to the club.
"Bianco are a terrific business and a great supporter of sport in this state and in particular the Port Adelaide Football Club," he said.
"They are rock solid. We have a payment plan in place with them and there is no doubt that they will be paying so they're definitely on the guernsey for 2009 and 2010, so there's no question about that.
"That speculation coming out of Melbourne of where Bianco are at is mischievous and not helpful. They are working through some challenging times, as all businesses are right now, but there's no doubt that they will be paying and there's no doubt about their commitment to this footy club."
Haysman did confirm that Vodafone won't be renewing their sponsorship next year.
A decision on whether or not Port will receive funds from the league is expected to be made by the AFL commission in the next six to eight weeks.
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