Carlton at risk of AFL debt ceiling

Carlton at risk of AFL debt ceiling

Carlton will need to quickly overturn their financial fortunes or risk losing part control of the club to the AFL.

The Blues have reportedly recorded a loss of $3.6 million across the past two seasons, putting them dangerously close to breaching the maximum $5 million overdraft debt ceiling imposed by the AFL, according to Fairfax.

“The debt doesn’t worry me, but the debt ceiling does,” Carlton CEO Steven Trigg said.

“Going beyond that debt ceiling, the AFL Commission wants to take a greater interest in the club, wants input into executive appointments, wants to see your business plan.

“We have seen all this happen to other clubs.”

The club organised a meeting with 100 of their wealthiest fans in October after recording a $2 million debt alone in 2015.

Trigg walked away from the meeting confident the club will survive the danger period, despite reports the club have already overdrawn the $5 million assistance package.

“We need to build a club that stands on its feet without that philanthropy,” he said.

“The messaging was, ‘We are in debt, we need some help, we need to stay away from that debt ceiling or the AFL will take a greater role in running the club.’

“After that meeting, I have a great sense within the Carlton Football Club that we ain’t going there.”

In positive news for Carlton, the club are expected to announce CareerOne as a joint major sponsor on Wednesday.

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