The SANFL adviser appointed to debt-ridden Port Adelaide Football Club board, John Irving, has resigned.
The SANFL adviser appointed to Port Adelaide Football Club board, John Irving, has resigned.There are reports the League could take over the debt-ridden club.
The SANFL is said to have no cash reserves to let it keep underwriting the football club.
The Power says it is continuing to work with the SANFL.
In a statement, the club says it expects to report a significant financial turnaround of at least $2 million in 2011.
Former CEO Brian Cunningham says football in general is suffering in South Australia.
"Port Adelaide has certainly borne the brunt of it but the Adelaide footy club had its first loss financial loss last year and how it's travelling this year with the crowds I'm seeing, it's probably going to be difficult again for it," he said.
"So I think football in South Australia is in a pretty difficult situation at the moment."
Former development coach with the Power and former SANFL Magpies player and coach Stephen Williams also concedes it is a difficult time.
"If the Adelaide [Crows] footy club can't make money in Adelaide how is Port Adelaide going to make it?" he said.
"And the [Adelaide Oval] stadium deal is just not favourable to both clubs.
"Football certainly brings a lot of money to the SANFL in Adelaide but it goes straight to the SANFL and then they give it back to Port Adelaide."
Opposition Leader Isobel Redmond again has questioned the wisdom of upgrading Adelaide Oval to stage AFL games.
"I'm far from satisfied that it's the right way to spend $600 million of the money that belongs to the taxpayers of this state," she said.
"It's effectively bailing out, it appears now, cricket and football. Why would we do that if, at the end of the day especially, the business case doesn't stack up?"
No comments:
Post a Comment