Australian Football League Side Brisbane Lions Plummets Deeper Into Debt
Australian Football League club Brisbane Lions is reportedly "plummeting deeper into debt," according to the AAP. Debts of about A$10M ($9.4M), following A$12M of losses since the Lions’ last profit in '07, "have prompted the AFL to step in and play a role in rebuilding the once-mighty club." Lions Chair Bob Sharpless said the club was "in a period of transition." It is believed the struggling Lions, which are "last on the AFL ladder with one win from seven matches," are heading for a A$2M loss this financial year. Reports claim that the club "is seeking additional assistance from the AFL to help with their mounting debts" (AAP, 5/8).