That's why the action AFL Vic took (and its timing) was so disappointing. Once the Dolphs went into adminstration, the $1.5 million figure was irrelevant, the club would either cease to exist or it would emerge with a fraction of that debt.
Given liquidation would deliver nothing to creditors it was always likely they would vote in favour of the DOCA, yet for some reason the licence was terminated without knowing what the club's financial position would be heading into 2017.
Having said that, there are now some really good people involved who have both relevant skills and passion for the club, so if the club can regain its licence a year to relaunch without the expense of running a football team might be the best thing to happen.
Have to agree this has worked out well in terms of foundation building for the future. The most important thing now is to get the right people into the club to ensure the future financial viability of the club and to put them on the path to onfield success. Hopefully those on the steering committee will stick around and form the basis of the new Board.
It should be mentiond that in the Administration washup the priority creditors - the players, coaching staff and employees will all be paid in full.
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