Prizemoney for this year’s AFL finals will be slashed following the coronavirus crisis
The 2020 premiers were slated to collect $1.2 million in bonus payments, with the runners-up taking home $660,000. However, those numbers will now be slashed after the COVID-19 crisis.
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Prizemoney for this year’s AFL finals will be slashed because of the COVID-19 crisis.
The 2020 premiers were slated to collect $1.2 million in bonus payments, with the runners-up taking home $660,000.
But the AFL said its prize pool was being reduced “to best reflect the current circumstances across the competition”.
Last year’s losing grand finalist Greater Western Sydney was already pushing for an overhaul of future finals financing.
The Giants attributed a chunk of the club’s $867,000 loss last season to the expense of playing three of its four finals on the road.
“The associated costs from a massive injury toll and playing one home game only throughout the finals ultimately impacted our finances across what was another big year for the club,” GWS chief executive Dave Matthews said.
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“As a result, we think it’s in the interest of the competition to revisit the economics of non-Victorian clubs participating in the finals.”
Documents filed with the Australian Securities and Investments Commission on Wednesday revealed the AFL pumped $23.5 million into GWS in 2019.
A record distribution of $27.5 million to footy’s other expansion club – the Gold Coast Suns – demonstrates the mammoth financial challenge confronting the AFL administration.
The Brisbane Lions received $22.6 million and St Kilda $20.6 million, the most of the Victorian clubs.
Western Bulldogs president Peter Gordon recently expressed fears all 18 clubs might not survive the crisis, “especially if there were to be a second spike”.
Footy’s richest clubs such as West Coast, Collingwood and Richmond received distributions of just $11.4 million last year.
Complicating the Giants’ financial position is its sponsorship arrangement with Virgin airlines.
GWS was paid $542,418 by Virgin in 2019, plus $542,418 in contra.
Giants chairman Tony Shepherd is a director of Virgin Australia International Holdings, but it is yet to be determined whether the airline will be able to honour its sporting sponsorship deals this year and beyond.
A company part-owned by GWS football director Jimmy Bartel — boot manufacturer X-Blades — also has an $80,000-a-year sponsorship arrangement with the club, plus $200,000 in contra.
The contract existed before Bartel joined the board.
Matthews said the Giants’ future was “assured and “very bright”.
“We are at the centre of the AFL’s biggest growth opportunity and during challenging economic periods you don’t cut back on growth opportunities,” he said.
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“Continued year on year double digit growth across our corporate, membership and community programs since entering the AFL competition almost 10 years ago sees us very well placed for the short and long term future.
“Due to our structure our level of exposure against the current economic headwinds is relatively small.”
According to the ASIC papers, GWS employs 83 full, part-time and casual staff, while its seven-person executive team, led by Matthews, were paid a combined $1.59 million.
Coach Leon Cameron is set to have his contract extended until the end of 2022.
Originally published as Prizemoney for this year’s AFL finals will be slashed following the coronavirus crisis