Wednesday, June 1, 2011

Power cut off: financial crisis point

Port Adelaide Football Club's financial problems have gone from bad to worse after the SANFL withdrew support and credit lines to help the debt-riddled club. Moves may be made for the SANFL to take over Power.

SANFL appointed Power board member John Irving tendered his resignation, with pressures placed for club president Brett Duncanson and chief executive officer Mark Haysman to do the same.

Talking to 891 Breakfast, The Advertiser chief football writer Michelangelo Rucci said the SANFL keeping the AFL club licence in the state was essential to the success of the Adelaide Oval redevelopment.

"Does the AFL then start writing cheques?

"And then if they're writing the cheques, they would inevitably demand that their people be running the footy club."

He told Matthew Abraham and David Bevan that he believed it would be unlikely that the current administration would continue tenure.

Falling home-ground crowd attendances have not helped the financial plight of the Port Adelaide Football Club, with the club still failing to produce profits.

"The reality is you have to get people to your games and you also have to have a stadium deal that allows you to profit from those people at the game.

"It is a continuation of what is a major issue on the governance of SA footy, when the Adelaide Football Club couldn't make a profit last year and will not make a profit this year, something is not adding up is it?"

891 Grandstand AFL commentator and former development coach for Port Adelaide Stephen Williams said the club may need to renegotiate its deal with SANFL to get to the larger Adelaide Oval grounds sooner.

"The club certainly is in a bad way.

"The people that are running Port Adelaide have a plan in place, and Port Adelaide people have to have the confidence that these guys know what they are doing."

Meetings will be held today to decide the financial future of the club and its current leadership group.


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