Debt down but losses mount for AFL clubs

Fairfax reports today that the 10 Victorian-based AFL clubs managed to cut their debt levels but financial losses increased in 2015.

• An analysis of the annual reports lodged by the 10 clubs showed them making a combined loss of just over $2 million last year from revenue of $501 million.
• Better news was found in the balance sheets of the clubs, with combined debts falling to about $41.2 million last year, compared with $46.4 million in 2014.
• McLachlan said the new deal could set the 18 clubs on the path to all being financially sustainable. He said total club debts had fallen by a couple of million dollars from $50 million at the start of 2015 and total profits had increased, showing the game was headed in the right direction fiscally.
• However, the league could lose about $20 million this year primarily due to the increased cost of supporting 18 clubs in the last year of the current broadcast deal.