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AFL's Lions post losses of more than $2m

09/12/2008 07:09:51 PM Comments (0)

The Brisbane Lions have announced losses of more than $2 million, blaming the global economic downturn for having a major impact on the AFL club's shareholdings.

Despite making a trading operating profit of $128,290 for the 2008 financial year, the Lions suffered an overall loss of $2.2 million.

Despite the financial deficit, Lions chairman Tony Kelly said he remained optimistic for the 2009 season.

"Recording a financial loss is always disappointing, yet there would be few major organisations that have remained immune to the crunch in global markets and growing worldwide recession," Kelly said in a statement.

"(But) I think the Lions are the real 'x-factor' team for season 2009 with new senior coach Michael Voss at the helm alongside sole club captain Jonathan Brown and his four new vice-captains."

The Lions said poor crowd attendances at the Brisbane-Melbourne match held over the ANZAC long weekend and at the rain-affected clash against North Melbourne in the middle of three consecutive Gabba home games also played their part in the final result.

The news follows Port Adelaide announcing a $1.4 million loss on Monday.

This was despite the Power receiving $5 million in grants from the state and federal governments to develop their Alberton Oval headquarters.

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