Brisbane Lions axe CEO amid $10m debt
Brisbane Lions axe chief Malcolm Holmes amid $10m debt
THE struggling Brisbane Lions have opted for a new administrative direction by yesterday axing chief executive Malcolm Holmes.
As forecast exclusively in The Australian on Wednesday, the departure of Holmes follows the revelation of a $10 million debt, the reality of another huge financial loss this year and a requirement for further AFL funding beyond the normal channels.
The favourite to take over at the Lions is present Carlton chief executive Greg Swann, who is expected to leave the Blues this month after almost eight years. That followed a seven-year stint with Collingwood.
The other option for Brisbane and the league is AFL Queensland chief executive Mick Conlon, who played 210 games with Fitzroy.
The AFL will have a say in the appointment of Brisbane’s new CEO because of the millions of dollars it will have to pour into the club to get it back on track to be able to compete with the rest of the competition.
Brisbane last night announced that its chief financial officer, Kevin Samson, would take over on an interim basis.
One of the position descriptions for the new CEO is that he must require flair and initiative and be prepared to market the club strongly to local business.
Brisbane chairman Bob Sharpless yesterday announced that Holmes had “resigned” after just over three years in the position and described the Lions as being in a period of “transition”.
In fairness to Holmes, he has been at the helm of a club that regularly changed personnel during one of its bleakest periods on and off the field.
Following several overhauls, few football and administrative staff remain from three years ago, with a new board including Sharpless and Leigh Matthews, who both joined last year.
As well, the Lions face stiff opposition from the three other football codes now firmly established in Brisbane.
Sharpless, deputy chairman of the Springfield Land Corporation, reiterated the Lions’ commitment to securing funding for a new multi-million-dollar elite training and administration facility at Springfield.
Following the axing of Holmes, the AFL said it fully supported the Brisbane chairman and its directors and said it would continue to assist the club at all levels to strengthen its position.
Incoming AFL chief executive Gillon McLachlan said the league had full confidence in Brisbane’s board and its ongoing efforts to restore the health of the club.
McLachlan said the AFL continued to back the club’s strategic direction and its aspiration to move to Springfield. “This support extends to any board decision about rolling over the heads of agreement in regards to a training and administration facility at Springfield for a further *period while discussions continue,” he said.
By the end of the season Brisbane will have accumulated losses of more than $12m over the past seven years since it’s most recent profit of $1.058m in 2007.
Long gone are the glory days at Brisbane on the back of four successive grand final appear*ances in which it won flags in 2001-02-03. The once powerful club had up to $10m in cash and shares in 2005 and no debt. Brisbane, which has started the season poorly with just one win and sits at the bottom of the ladder, has been hit again by falling home crowds and membership.
Despite setting up a gaming facility four years ago that benefits the club by up to $2.5m annually, the Lions’ past four financial hits have been $1.6m, $2.5m, $1.86m and $2.714m in 2010.
Brisbane has struggled despite a major internal and external review at the end of 2010 that resulted in vast changes both in the football department and administration. Since last October, the Lions have a new coach, new chairman, new list manager and are without a chief executive.
http://www.theaustralian.com.au/sport/afl/
