Melbourne cops big financial loss following horror season
As if it couldn’t get any worse. Following a hellish season on-field, the Demons have been hit with a massive off-field setback. The news has been compounded by another significant injury to a young Dee.
Melbourne
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Melbourne’s dismal 2019 season has cost the club a $1.58 million loss.
The Demons yesterday confirmed the club’s poor on-field form and in particular lesser-than-expected crowd figures had a major impact on the club’s bottom line this year.
On a disappointing day for the club, youngster Aaron Nietschke also suffered his second knee reconstruction.
Nietschke, 19, tore his anterior cruciate ligament in February and re-injured the same knee at training on Friday.
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But the club has already assured the South Australian, who was taken with pick No. 53 in last year’s draft, will receive a contract extension beyond his second season next year.
Melbourne set a membership record of 52, 516 this year but its last three home games of the season at the MCG against Richmond, Collingwood and Sydney Swans only drew an average 31,000 crowd.
Melbourne chief executive Gary Pert said the club was confident of bouncing back with a fully-fit squad next season.
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“There’s no doubt that announcing a loss of over $1.5 million is a bitterly disappointing financial result, and a reflection of a club which finished 17th on the ladder,” Pert said.
“It’s important to reiterate to members our strong balance sheet has allowed us to fully cover the revenue shortfall with our cash reserves and pay down our debt, which now sits at two million dollars.
“A significant amount of changes have been made in the off season to ensure we give ourselves every chance to bounce back both on and off the field, and I hope Melbourne supporters are quietly excited about the possibilities in 2020.”