Carlton aims to wipe $6m debt in two years as club enjoys rise in membership and attendances

Carlton could strip millions of dollars off its debt thanks to the club’s loyal fan base, allowing it to spend every cent of the salary cap and football department soft cap.

Carlton is going places on and off the field. Pic: Michael Klein

Resurgent Carlton will wipe millions of dollars from its $6 million debt after a remarkable 50 per cent jump in attendances and the biggest membership lift in the club’s history.

The figures are even more remarkable given the Blues are coming off the back of a two-win season in 2017.

Carlton chief executive Cain Liddle said the Blues hierarchy was stunned at the loyalty of its fans base.

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Blues fans have stuck by their team. Pic: AAP

They have attracted bumper crowds of 85,016 (Richmond), 69,289 (Collingwood) and 55,593 (Melbourne) this year.

The Blues’ average home attendance is 47,716 — up from 31,775 last year.

The Blues recorded a net operating profit of $2,611,638 and final statutory net profit of $699,206 last year as well as injecting $1.6 million of extra funds into its AFL and AFLW football programs.

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Liddle said the Blues could potentially wipe out its $6 million debt in two seasons.

“Things are looking very healthy and we expect to be in a position to pay down a nice chunk of debt this year,” he said.

“We think with the way the business is operating, the debt could be gone in a couple of years.

“The membership is up from 56,000 to 64,000 and we have had the biggest membership jump in our 155-year history.”

Players like Patrick Cripps has the fan base excited. Pic: Michael Klein

Carlton CEO Cain Liddle is buoyed by the financial results. Pic: AAP

Having banked salary cap room in recent years under the league’s banking arrangement, Carlton intends to spend 100 per cent of the salary cap and the football department soft cap next year.

Liddle said he hadn’t even considered whether they might request more Friday night football in 2020 after being locked out of that slot this year.

Part of the club’s strategy last year was to upgrade every existing member’s category one level if they re-signed — from 11-game to reserved seat, from reserved seat to a coterie group.

While it has required a financial outlay from the club Liddle believes many members will retain that level of membership, with 14,000 new members coming on board.

The membership has grown in the past few months since interim David Teague came on board but most of the gains were made under Brendon Bolton.

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Originally published as Carlton aims to wipe $6m debt in two years as club enjoys rise in membership and attendances