Colless won't hear of dying Swans - Sports News - Fanatics - the world's biggest events

Colless won't hear of dying Swans

By Roger Vaughan and Adrian Warren 03/06/2003 06:58:26 PM Comments (0)

Sydney faces a $2 million revenue shortfall this year, with the AFL club's chairman saying rugby's World Cup had "absolutely belted" its income.

But Richard Colless was confident the Swans would ride out their crisis, which resulted in a 2002 loss of nearly $2 million.

A mystery donor came to the club's aid, pledging $250,000.

"We don't class it as revenue, it's a below the line figure and the explanation was simply `I think the Swans are a critical part of the fabric of this town' so we'll gratefully accept that," Colless said of the donation.

A report in The Australian revealed the latest problem facing the Swans, who have survived several financial predicaments in the last two decades.

The report quoted Colless as saying the club needed at least $1.5 million from the league as a one-off cash injection.

But Colless told reporters this afternoon the club had not asked the league for a specific sum yet and also did not need league assistance to survive until November.

"It is thus far what I call a philosophical discussion and what we are seeking is an injection of capital rather than a revenue top-up," he said.

"We are not looking to top-up our revenue, we are looking to solve a chronic problem that has existed in this club for 22 years.

"This year, there is one fundamental reason and I don't use this as an excuse, it's a fact of life, we are basically going head-to-head with rugby union, the World Cup.

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