AFL to meet Wright next week to resolve Tigers' budget issues

[one-eyed]

After writing to Carlton, Richmond and North Melbourne expressing concern at potential cost blowouts of their home-ground redevelopments, the league seems satisfied they will meet their budgets and has agreed in the cases of the Blues and the Kangaroos to forward them the seven-figure sums required to complete the building at Princes Park and Arden Street respectively.

Demetriou said the AFL would meet Richmond CEO Steve Wright next week to resolve the Tigers' budget issues. He was confident the club had no intention of moving further into debt and had been assured by president Gary March that the Punt Road redevelopment would come in at cost.

http://www.realfooty.com.au/news/rfnews/carlton-asks-for-financial-leniency-from-afl/2009/04/06/1238869906856.html

[torch]

are Richmond in debt?

[mightytiges]

are Richmond in debt?

No we're not in debt as far as assets minus liabilities. Actually we are now over $8 million in the black thanks to redevelopment monies. However we do still owe money (around $4 million? from memory) to Westpac as part of a loan w've had for a number of years. The Club is hoping to pay it off within the next couple of years but not sure how certain they about that in the current economic climate. Getting Benny Cousins has obviously helped off-field in terms of boosting membership and merchandise revenue.