Brisbane Lions record massive financial loss
Brisbane have confirmed a loss of almost $1.9 million at the end of a tough year for the AFL club. The Lions managed a trading profit of $498,185, but depreciation and interest costs meant a net operating loss of $1,855,926.
“While the loss was in line with expectations, it is certainly not what this club wants nor should accept as we build a sustainable business model engineered to achieve long-term success,” chairman Angus Johnson said.
The Lions fell from 13th to 15th on the ladder this year, winning only four games, and also sacked key forward Brendan Fevola in February.
Johnson said their poor on-field performance had a direct impact on the club’s financial result.© AAP 2014