Interesting article from News from the Web below, the SANFL has a debt of $26million & the combined debts of the eight SANFL clubs is $16million ~ anyone else surprised by this? Makes the VFL look much healthier off~field, even if the SANFL attracts better crowds and usually beats the VFL when they meet.
Just when SANFL president JOHN OLSEN must be thinking the toughest political battles in SA football - such as Adelaide Oval, AFL licences and AFL reserves teams in the SANFL -are finally behind him, the reality that money creates division is starting to brew in the State league.
Olsen’s practical approach to the $71 million cash flow from selling the Football Park precinct is to have the money clear the SANFL’s $26 million debt profile, set up a “future fund” and tackle the $16 million debt on the eight SANFL club books.
Olsen does have conditions on how the SA Football Commission will hand the money to the clubs. There are strict strings attached. Basically, the money can only be used to clear financial obligations such as tax, superannuation and loans or to invest in projects that generate cash but not diminish capital. The money will be allocated on a year-by-year basis - starting with a $125,000 allowance in October 2016 rising to $425,000 in October 2022.
But the need for quick cash - and big cash for big projects - may have some SANFL clubs wanting to lean on the commission for more money ... and soon. The script never changes.
