Carlton chief Steven Trigg says Blues not in dire situation despite $2 million loss
CARLTON is facing a significant challenge as it stares down the barrel of a $2 million loss this year, chief executive Steven Trigg says.The predicted loss is set to be one of the Blues’ biggest in the club’s history, with Trigg admitting that the club is facing hurdles as it looks to move its reliance away from donations from some of Melbourne’s wealthiest families — including that of late Visy boss Richard Pratt.He insisted the situation is anything but “dire”, despite the loss growing on the $1.6 million one recorded in 2014, and has commended the support of the club’s members in what was a trying 2015 both on and off the field with the team finishing at the bottom of the ladder with just four wins.
Blues in the red: Carlton to post $2 million loss, break debt ceiling
Carlton will post one of the biggest financial losses in the club’s history, and are expected to be $2 million in the red after notching just four wins for the 2015 season.The result follows a $1.6 million loss for the 2014 season, but of more concern to the Blues is the fact they are in danger of breaching a “debt ceiling” imposed by the AFL, which underwrites a maximum $5 million Westpac overdraft for every club in the competition. According to the most recent accounts, Carlton have overdrawn that facility.Blues president Mark LoGiudice has briefed influential club figures in the past month on the significant trading loss and debt issues.
Melbourne Demons set to record stronger profit this year
Not so long ago an AFL basket case, the Melbourne Football Club will record another strong profit this year and buck the trend of mounting debt that continues to spread across the competition.While still battling to attract strong attendances and membership numbers throughout another disappointing on-field season, the Demons are expected to announce a profit of close to $500,000, after finishing in the black in 2014 to the tune of $300,000.In what has emerged as a positive example of head-office intervention, it is now two years since the AFL brought in former Essendon CEO and AFL Victoria chairman Peter Jackson to run the club.At the end of 2013 the Demons lost more than $3 million, despite a special AFL $1.45 million lifeline.