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SBD Global/May 7, 2014/Franchises

Australian Football League Side Brisbane Lions Face Administrative Shake-up

Another "shake-up" is about to hit Australian Football League side Brisbane Lions' administration, according to Greg Denham of THE AUSTRALIAN. The first casualty in "yet another clean-out" of staff at the club "will be CEO Malcolm Holmes, who is into his fourth year in the position and out of contract this season." Struggling on the field, the club "is heading for another disastrous financial result and will need additional backing from the AFL to compete with the rest of the competition." Brisbane will this season "make a loss for a seventh consecutive year," and presently carries a debt close to A$10M ($9.3M). Once "the competition’s trendsetter on and off the field," Brisbane will have accumulated losses of more than A$12M over the past seven years since its most recent profit of A$1.058M in '07. Brisbane "has been hit again by falling crowds and membership, which last year increased to 24,130 after dropping to an ­11-year low of 20,762 in 2012" (THE AUSTRALIAN, 5/7).
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