Fears grow on Tigers' cash woes
02 June 2004
Herald Sun
FORMER Richmond president Leon Daphne expressed serious concerns about the club's financial viability in an upfront meeting yesterday with his successor, Clinton Casey.
Breaking his public silence on the matter, Daphne said he had asked Casey to allay widespread worries about the club's balance sheet during their discussion.
Casey has forecast an operating loss of about $2 million in 2004, coming on top of last year's $882,000 loss.
One former Richmond director said yesterday the "actual" loss could be well in excess of $2 million. Another, Peter Welsh, described the financial position as "frightening", while another, Charles Macek, called on Casey to step down.
"I asked about the reports of the finances and whether we are slipping into a really difficult position that might affect our viability as a club," Daphne said.
"Clinton assures me that while things are tough, the current board has got things in place. I hope that is correct."
The private meeting between the pair fuelled speculation that Daphne was preparing to return to the fray at Punt Rd in a bid to arrest the club's most recent descent into financial and administrative turmoil.
However, Daphne, who stepped down from the presidency and board in 1999 after six years, was adamant yesterday he had no aspirations to challenge Casey or return in any official capacity.
"I don't want to be involved in a board position or the presidency. Nor will I be assisting any particular group to make any change," he said.
"I just want to see the Tigers do well and I hope whoever is in charge has the answer to that."
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