Melburne president Jim Stynes says the Demons could be debt free by Round 1 of the 2009 season. Buoyed by the fact the club has raised almost $3 million in its Debt Demolition campaign, Stynes has issued a further challenge for the club to be in the black by the start of next season.
“We’ve just broken through $2.9 million and we are hoping to get to $3 million by the end of Sunday,” Stynes said.
“It’s been a fantastic effort from all the people involved, but the aim now is become completely debt free.
“I’m not sure exactly when that can happen, but we are aiming to be that way by the start of next football season.”
The Demons were $5 million in debt before Stynes’s new team set about tackling Melbourne’s crippling financial plight.
They have now paid $1 million off the debt, with a further $1.9 million pledged in donations.
Stynes said the Demons would have been insolvent in October if not for the financial backers.
He praised those who have donated and urged those who had not to do so for the club.
Former president and businessman Joseph Gutnick, who was bitter when he left the club in 2001, is yet to contribute, but said he backed the Stynes team.
Gutnick told the Jewish News recently: “I haven’t been to any games and I haven’t written any cheques, but I’ve spoken to Jim a few times of late and I support what he is doing with the club.”
The AFL is also considering giving the Demons further financial assistance.
Stynes said the club was looking forward to its Round 22 game against Richmond today to finish what has been a difficult 150th birthday year.
All those who pledged $10,000 or more have been invited to hear coach Dean Bailey’s pre-match address.
(NEWS.com.au)
