From: marino@vaxc.cc.monash.edu.au
Newsgroups: rec.sport.football.australian
Subject: AFL News (OLD) up to 18/12/1992
Date: 31 Dec 92 16:56:28 +1100
Organization: Computer Centre, Monash University, Australia

The AFL News up to Friday 18/12/1992.
-------------------------------------

 Hello once again. There has not been much news this month but yesterday the
football world exploded onto the headlines again. Fitzroy is in deep financial
trouble owing $1.5 million. On December 8 I wrote:

> - Fitzroy looks like they are in deep financial strife. The Lions have asked
>   the AFL to guarantee a $400,000 loan. This is on top of expected accumulated
>   debts of $1.5 million to the end of this year. This looks like the last
>   financial help the Lions will get.

 Since December 8 Fitzroy's bankers have asked that the remaining $1.1 million
above the AFL's loan be guaranteed by the other clubs. Yesterday the other
clubs voted NOT to guarantee the loan.
            ^^^
 What this means is that the club's bankers (Westpac) have the right to send
Fitzroy into liquidation. A more likely scenario would be a merger with either
Melbourne, North Melbourne or Brisbane. It does look like the death knell for
the Lions.

 As a personal note it looks like the AFL were expecting either a merger or the
the death of a club this summer. They decreased the number of rounds to 22 but
they left the price of membership tickets the same as in 1992 when teams played
11 home games and not 10. Also the death of a club would also see the death of
the bye and thus clubs could return to playing 22 games again.

 In sad news, the former Fitzroy president Leon Wiegard died of cancer
yesterday. Wiegard was president from 1986-1991.

 In other news, St.Kilda had their AGM yesterday and announced a marginal profit
of $9,000. The club has debts of $690,000 but they are confident that the debt
will be cleared in 18 months. because of the cash inducement offered by the AFL
to move home games from Moorabbin to Waverley Park. On better news for the club
David Grant will re-sign with the club after he was involved in a possible draft
swap with Sydney's Barry Mitchell. Danny Frawley was appointed captain for the
seventh succesive year creating a club record. Tony Lockett was awarded life
membership of the club for many reasons most notable of which is 10 years servic
to the club and winning the 1987 broenlow medal. He is also St.Kilda's second
ever 100+ goalkicker in a season.

 Melbourne also had their AGM yesterday and the news was not good on the finan-
cial front with an operating loss of $463,000 for the year. There was also a
btter feud for three of the eight positions on the club's board. Former chairman
Stuart Spencer returned to the board after being deposed a year ago.

 Geelong has recorded a profit of $319,000 for the 1992 season. This is a turn-
around of $580,000 on last year's loss of $261,000. Gary Ablett, Paul Couch,
Steven Hocking were some of the people to receive life memberships to the club.
Veteran player Neville Bruns has joined the committee for the 1993 season.

 Adelaide announced a surplus of $866,000 for this season. This is $70,000 more
than last year. This is a fantastic result taking into consideration that they
paid $400,000 this year to the AFL as part payment of their licence fee. The
Crows have to pay $400,000 each year for the next six years to complete the
payment of $2 million (plus interest). Adelaide must also pay 80% of its surplus
to the 9 clubs in the SANFL. This makes for an operating profit of $191,000!

 That's enough for now. I will send more information as it comes to hand on
Fitzroy. Apart from that have a Merry Christmas and a Happy New Year.


John Marinopoulos

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-  John Marinopoulos                                                      -
-                                                                         -
-  Department of Mathematics                           Tel:+613 565 5460  -
-  Monash University                                   Fax:+613 565 4403  -
-  Clayton Victoria 3168            E-mail: marino@vaxc.cc.monash.edu.au  -
-  Australia                                                              -
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-                                                                         -
-         MERRY CHRISTMAS AND A HAPPY NEW YEAR. GO SAINTS IN 1993!        -
-                                                                         -
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