Carlton $7 million in debt

[Beaussie]

Seriously what is going on. How can it be that this once rich and powerful club is in so much trouble on and off the field? Has that piece of crap scoreboard at Princes Park been paid off yet. I couldn't believe how much it apparently cost the club when I saw it a few years back.

Blues to post operating loss
By Damian Barrett
January 09, 2007
http://www.foxsports.com.au/story/0,865 ... 11,00.html

CARLTON is expected to post a $1 million operating loss on 2006.

Despite heavy cutbacks, a 15 per cent drop in membership and low crowds hit the club hard.

The "paper" loss on the year will be greater, with more writedowns believed to be attached to the stands at the club's defunct Princes Park base.

Carlton is $7 million in debt and this year received a $1.5 million interest-free loan from the AFL.

Specifics of the club's finances are expected to be revealed this month, before the annual general meeting on February 6.

When announcing Carlton's 2005 financial figures, then president Ian Collins said it would take two years for the club's cash position to become "neutral".

In Blues' election news, independent nominees Marcus Clarke and Michael Spartels still require official clearance on their eligibility.