Brisbane Lions set to announce loss of $1.5 million

25 November 2013 2:39 AM

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Brisbane Lions set to announce loss of $1.5 million

The Lions have battled financially since the premiership years ended and have endured an extended run of million dollar-plus losses, but today's expected announcement could represent the start of a recovery for the embattled AFL club.

Brisbane received $1.85 million from the AFL Commission to beef up its football department after the drawn-out board dispute was resolved when chairman Angus Johnson stood down and was replaced by a new board headlined by new chairman Bob Sharpless, from the Springfield Land Corp and club legend Leigh Matthews.

And AFL CEO Andrew Demetriou last week told the Courier-Mail additional league funding would be forthcoming.

"We think now the board dispute has been finalised the Lions will start to go places,'' he said.

The Lions and the AFL are in negotiations with the Federal Government for $15 million towards the club's proposed new headquarters at Springfield.

Brisbane officials believe rent costs at the Gabba are prohibitive and the move will have a significant bearing on the club's bottom line.

Source: heraldsun.com.au

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