Australian Football League Side Carlton To Post Yearly Loss Of Around $465,000
Australian Football League side Carlton is "bracing itself for a 'significant' financial loss this year" of close to A$500,000 ($465,250) even as the club "accepts that it will have to pay" just less than A$300,000 in equalization payments to the AFL next year, according to Jake Niall of the SYDNEY MORNING HERALD. Carlton President Mark LoGiudice confirmed that the club would be making a loss in '14, which he attributed to "factors such as the fixture and on-field performances, and said the Blues had to strengthen their finances" to the point that their A$290,000 equalization payment became a "cost of doing business." LoGiudice said Sunday home games "were a huge factor" in the loss, with "crowds down and family membership also losing ground this year, in a year when the majority of Melbourne clubs -- including Collingwood and Richmond -- have suffered downturns in attendances." Carlton's loss should be "seen in the context, however, that the club is still reducing its debt," which will be about A$5.2M-A$5.3M at the end of this year. The Blues are "also negotiating to play the majority of home games at the MCG next year" (SMH, 8/13).