SANFL and AFL build financial bridge to Adelaide Oval
- Thursday, June 30 2011 @ 08:32 pm ACST
- Contributed by: Brett Northey
- Views: 5,021
The SANFL and AFL today announced a funding plan to see South Australian football through to 2014 when the financial picture is expected to brighten considerably with both the state's AFL clubs moving to Adelaide Oval.
Key features of the deal are:
- A grant to the Port Adelaide Football Club from the AFL of $1 million for each of the three years (2011, 2012 and 2013)
- A loan to the SA Football Commission from the AFL of $2 million per year for each of the three years (2011, 2012 and 2013) to be provided as grants to the Port Adelaide Football Club, representing a total grant to the club of $9 million over three years
- The AFL to provide a facility for the SA Football Commission to draw up to $1.5 million per year for three years (2011, 2012 and 2013)
- The SA Football Commission will provide a financial package valued at $1 million per year to the Adelaide Football Club over three years (2012, 2013 and 2014), representing a total contribution to the Crows of $3 million.
AFL CEO Andrew Demetriou explained that "Football in South Australia needs two strong clubs in Port Adelaide and the Adelaide Crows competing strongly on the national stage and the AFL competition wants both teams to have every chance to bring success to their supporters."