I'm assuming all 18 clubs are still contributing millions of dollars per week cashflow from automatic monthly membership payments. So they still have some incomings. The outgoings have been slashed dramatically with the players wages bill still being the largest outgoing, and that will be slashed by another 25% in 5 weeks time.Sanctorum wrote: ↑Thu 16 Apr 2020 3:00pm
Not that I'm aware of, nor do I believe has the AFL drawn down on the line of credit at this time, perhaps BackFromUSA can give some clarification.
In any case, as I mentioned earlier, if the competition does in fact play 2/3rds of the games this year, plus finals, then that should ease some of the financial pressures on the AFL and the clubs.
I would also expect that the "line of credit" will in reality be in the form of an overdraft on the aggregate of the AFL bank accounts, with interest only paid on daily balances.
So why the need for such an outrageously large loan if you believe the competition will be completed this year?
If you believe they haven't drawn down on it yet and the operational cashflow will return due to the comp being completed this year, why the need to borrow $600 million? Why the need to place clubs into a receivership style managment?
Is it possible the AFL have been caught with their pants down and have been mismanaging funds?