The AFL will closely monitor St Kilda’s worrying debt of more than $10 million

ST KILDA will be closely monitored by the AFL as the club seeks to play down more than $10 million of debt, with league chief executive Gillon McLachlan telling the club, it’s time to cut the debt.

ST KILDA will be closely monitored by the AFL as the club seeks to play down more than $10 million of debt, with league chief executive Gillon McLachlan saying the time for excuses is over.

Naming the Saints as one of three clubs with high levels of “bad debts”, along with Brisbane and Port Adelaide, McLachlan told a briefing on Wednesday the Saints needed to focus on improving their financial bottom this season.

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McLachlan said the overall level of “bad debt” among the 18 clubs was around $50 million, having been reduced by $10 million last season. He believes it can be reduced by another $10 million this year.

“They’ve (St Kilda) have got to get their business to work now,” McLachlan said.

“All I can say is in the end ... St Kilda have turned around, they’ve dealt with a whole series of challenges, but it’s incumbent on them now to get their P (profit) and L (loss) to work.”

Gillon McLachlan wants St Kilda to cut its debt. Picture: Getty Images

McLachlan said the Saints owed “more than 10 million”, while Brisbane’s debt is around $17 million and Port Adelaide’s is less than $10 million.

The Herald Sun revealed on Monday the Saints had struck a new Etihad Stadium deal with the AFL, which would be worth an extra $2 million per season, making a massive difference to the club.