Dutchy wrote:Thats the best article that has been published yet. SANFL has been in real trouble with its finances which could have been fatal, glad it is now public.
Agree Dutchy.
This part is of most interest to me:
"
There is one passage in the report to the directors which helps explain why relations between the SANFL and Port in particular are so frosty. It reads:
“It should be noted that SANFL in May 2014 paid the PAFC a further $1.5m to enable it to repay its AFL creditors and start as an independent club with no more than $500,000 creditors, in other words with a clean slate. This took total PAFC funding from SANFL to $16.25m and increased SANFL debt to approximately $37m.”
So almost half the SANFL’s debt comes from helping Port. In addition, the SANFL is still incurring a cost of about $1.3 million a year to maintain Footy Park for Crows training.
Why the Crows would receive an ongoing free kick at Football Park is beyond comprehension in what is a commercial transaction in a commercial world. The only reason that would suffice is if the SANFL are contractually bound to provide it.
Port will now have to look to ongoing assistance from the AFL to survive. They will need to make plenty in the good years in order to survive the leaner years.
Their costs should increase when their time in the SANFL ceases.