- Banned
- #1
MCC rejects Demon request
By Caroline Wilson
March 3, 2004
The Melbourne Cricket Club has refused a request for financial support from the financially stricken Melbourne Football Club, telling Demons president Paul Gardner and interim chief executive John Phillips that it believes the Demons to be insolvent.
Gardner and Phillips, who departed frustrated from a meeting seven days ago with MCC general manager Stephen Gough, have been instructed by the Demons' spiritual home not to rely on the MCC for money but to instead intensify the club's bid for help from the AFL's competitive balance fund.
The Demons had hoped the MCC would consider an unofficial request to match the AFL dollar for dollar and pledge as much as $1 million to the club.
The MCC, which last month received a damning report on the Demons from one-time AFL corporate consultants Olaf O'Duill and John Kelly, made it clear that any support from the MCG's administration would not come in the form of cash.
But the MCC has been holding regular talks with the AFL - which holds a more positive view of the Demons' financial prospects - regarding the Melbourne business operation. A meeting between all three parties is expected to be held within a fortnight.
"We met with the MCC last week and we came away without resolving much," Gardner said yesterday. "We'd love to be there, we'd love to train there, we'd love to play there and we will continue to work towards that."
Gough declined to comment last night.
Gardner said the club was also investigating the prospect of selling the lease on its licensed gambling venue in Oakleigh - a profitable operation for the club - to solve some cash-flow constraints in the short-term.
He also would not rule out turning to the club's supporters for more financial support, a prospect flagged in yesterday's Age by coach Neale Daniher, who said the club could be forced to raise funds to enable it to promote promising rookie Aaron Davey to the senior list.
"We're not talking about rattling tins," said Gardner, "but we do have a series of options to look at, apart from the AFL and the MCC."
The AFL's finance and administration manager, Ian Anderson, yesterday completed a report on the state of the Demons' off-field affairs, which should be assessed by league chief executive Andrew Demetriou by the end of the week.
The club has been forwarded $1.4 million in the form of a dividend from the sale of Waverley Park and could be forced to seek a redirection order of up to $4 million before receiving an expected $1 million from the competitive balance fund.
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By Caroline Wilson
March 3, 2004
The Melbourne Cricket Club has refused a request for financial support from the financially stricken Melbourne Football Club, telling Demons president Paul Gardner and interim chief executive John Phillips that it believes the Demons to be insolvent.
Gardner and Phillips, who departed frustrated from a meeting seven days ago with MCC general manager Stephen Gough, have been instructed by the Demons' spiritual home not to rely on the MCC for money but to instead intensify the club's bid for help from the AFL's competitive balance fund.
The Demons had hoped the MCC would consider an unofficial request to match the AFL dollar for dollar and pledge as much as $1 million to the club.
The MCC, which last month received a damning report on the Demons from one-time AFL corporate consultants Olaf O'Duill and John Kelly, made it clear that any support from the MCG's administration would not come in the form of cash.
But the MCC has been holding regular talks with the AFL - which holds a more positive view of the Demons' financial prospects - regarding the Melbourne business operation. A meeting between all three parties is expected to be held within a fortnight.
"We met with the MCC last week and we came away without resolving much," Gardner said yesterday. "We'd love to be there, we'd love to train there, we'd love to play there and we will continue to work towards that."
Gough declined to comment last night.
Gardner said the club was also investigating the prospect of selling the lease on its licensed gambling venue in Oakleigh - a profitable operation for the club - to solve some cash-flow constraints in the short-term.
He also would not rule out turning to the club's supporters for more financial support, a prospect flagged in yesterday's Age by coach Neale Daniher, who said the club could be forced to raise funds to enable it to promote promising rookie Aaron Davey to the senior list.
"We're not talking about rattling tins," said Gardner, "but we do have a series of options to look at, apart from the AFL and the MCC."
The AFL's finance and administration manager, Ian Anderson, yesterday completed a report on the state of the Demons' off-field affairs, which should be assessed by league chief executive Andrew Demetriou by the end of the week.
The club has been forwarded $1.4 million in the form of a dividend from the sale of Waverley Park and could be forced to seek a redirection order of up to $4 million before receiving an expected $1 million from the competitive balance fund.
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