The WAFC took ownership of the Eagles in 1990 & the WAFC are the cornerstone of WA footy to this day.
When the West Coast Eagles joined the Victorian Football League in the 1980s, they were essentially set up to fail — and soon the club was broke and on life support. How times have changed, writes Clint Thomas.www.abc.net.au
- 1986, September 22. Indian PAcific Limited is formed to control the Eagles license. (Behind the play pg 206). The WAFL sells its sublicense to Indian Pacific Limited for $5.6million, making a 1.6 million profit. IPL also had the right to 50% of any shares offered in a second team. The new clubs would have to pay their own air fares, but could only use the VFLs airline partner. (The Phoenix Rises pg 79) The float eventually raised $12.3 million. (Soaring, pg 17)
- 1987 – IPL requires bailing out. A rescue package of $5 million was hastily organised, with five people putting in $1 million each: Neil Hamilton, Colless, McHenry, Mark Hohnen and Robert Armstrong. (The Phoenix Rises pg. 132)
- 1988, June. The VFL begins pay travel arrangements for all clubs. Travel costs for the eagles in 1987 had been more than a million dollars.
- 1989, June 20. The WAFC is formed. The Government commits $850,000 over three years to set up and operate the organisation. The WAFL was 9.48 million debt, including a 6 million bank loan, an overdraft of 1.2 million and the eight clubs owed another 2.28 million. (Behind the play pg 255)
- 1989 – Amid public calls in 1989 for the Eagles to be scrapped, the West Australian Football Commission assumed 75 per cent control of Indian Pacific. Brian Cook was appointed chief executive and Mick Malthouse was named coach.