'Future fund' for clubsBy Gary Walsh
Wed 31 Aug, 2011THE AFL will establish a club 'future fund' to try to reduce the gap between the League's 'haves' and the 'have-nots'.
AFL CEO Andrew Demetriou said on Wednesday the aim of an equalisation fund was to give poorer clubs a chance to grow and be competitive.
The League would achieve this outcome without discouraging the stronger clubs, he said, with no increases in taxation, no increase in revenue sharing, no cap on football department spending and no cap on innovation.
Demetriou stressed that the AFL was determined that no club would be 'axed' although several were facing financial challenges and would post losses this year as well as carrying significant debt.
"We want 18 viable and competitive clubs," he said.
Football department spending varied by as much as $4.5 million a year between the top and bottom clubs, with smaller clubs having fewer staff members than necessary across football and commercial areas.
Demetriou said the future fund would provide extra financial support for needy clubs.
The aim was to leave a legacy of minimum-standard resources and systems, an increase in the percentage of Total Player Payments paid by clubs, upgraded training and administration facilities and debt reduction.
https://www.afl.com.au/news/newsarticle/tabid/208/newsid/122358/default.aspx
