The AFL say Sydney are taking an extraordinary risk by signing Lance Franklin on a nine-year deal and will have no wriggle room in terms of salary cap implications if he doesn’t complete it.
Franklin’s move to the Swans was made official on Tuesday, when the AFL signed off on Sydney’s $10 million offer and his former club Hawthorn confirmed they won’t match it.
But the AFL’s approval came with conditions attached, addressing the prospect that the 26-year-old, who will end the deal as a 35-year-old, might be long retired by then.
“It’s such an extraordinary risk in many respects that the Sydney Swans board has taken,” AFL deputy chief executive Gillon McLachlan told AFL Trade Radio.
“I know a number of clubs and boards that wouldn’t do that because of the risk they’re taking on behalf of their club.
“We’ve made sure that the (Swans) board members … understand the risk they are taking with this contract. I’m not sure we could do much more than that.
“We don’t have any authority to step in and stop boards from making decisions.”
The league’s demands included written acknowledgement from the Swans’ board and management that the specific financial commitment for each year of the nine-season contract will count towards Sydney’s salary cap, even if Franklin is no longer there.
The Swans’ board will have to meet with the AFL each year to review how the club are managing their total player payment obligations in regard to the contract.
The AFL received assurances from the Swans that they had gained all information needed to properly assess a contract of that length, including medical reviews and long-term financial planning.
The league also reiterated to the Swans that the 9.8 per cent cost-of-living allowance built into their salary cap, along with that of Greater Western Sydney, was under review and could be removed or varied from 2015 onwards.
Swans coach John Longmire acknowledged the contract was unusually long, but insisted it was worth it to secure the two-time premiership player and two-time Coleman Medallist.
“We understand that nine-year contracts are rare in AFL football, but so too are players the quality of Lance Franklin,” Longmire said.
Hawthorn chief executive Stuart Fox said the Hawks’ decision not to match the offer was about putting the club first.
Franklin had been widely expected to join the Giants, but shocked the wooden spooners last week by rebuffing their $7.2 million, six-year offer in favour of the Swans.
The ability of Sydney to fit him into their salary cap sparked a wave of fresh uproar from rivals over their cost-of-living allowance.
That allowance was already a subject of controversy after the Swans followed their 2012 premiership by recruiting star forward Kurt Tippett from Adelaide last off-season.
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