The Lions have asked the AFL for financial assistance…
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Brisbane Lions chief executive Greg Swann has admitted the club has asked the AFL for a $3 million hand out after reports emerged on Wednesday the club requested assistance to eliminate its debt and to help lure big-name stars to the club.
The Lions requested the money as part of a package involving equalisation and had made increasing player payments a priority, as the club reportedly still has $1.6 million of room in its salary cap.
The club admitted yesterday that they had spoken to the management of Essendon ruckman Paddy Ryder and are favourites to sign the 26-year-old should he decide to leave the Bombers.
Staggeringly, the Lions spent just $7.3 million on football department costs, $2.1 million below the maximum in the area.
Swann told SEN Radio on Thursday that a drop off in revenue had caused the situation.
“That money will allow us to reinvest in the business, we’ve cut everything to the bone,” Swann said.
“The soft [football department] cap has come in at $9.4 million and ours is $7.3 million, so we’re a mile below the industry average.
“It’s not like we’ve spent too much money to get in this situation, we’ve had a drop off in revenue.
“Our job is to get the business back to break even and we need to invest some money into resources to be able to do that.”