Port calls on fans to clear club debt

PORT Adelaide is calling on supporters to help clear its $13m debt in four-and-a-half years so it can “chase greatness” on and off the field.

Power chief executive Matthew Richardson said the club had been carrying debt for a long time and needed to eradicate it as part of its ambitious strategic plan that also included winning three premierships and having 100,000 members by November 1, 2025.

The club is launching a “Chasing Greatness Fund” early next week and its first goal is to eliminate $4m of debt acquired last year through COVID-19.

Richardson said the three core purposes of the fund were on-field success, improving the club’s social and training hubs, and financial sustainability.

There are six AFL clubs with strong net cash positions, in excess of $80m collectively, including Richmond, West Coast, Hawthorn and Collingwood – sides that have combined to claim eight of the past 11 flags.

“If you want to give yourselves the best chance of winning, there’s no doubt there’s a correlation between financial strength and the ability to be able to win,” Richardson said.

“We’ve got to be able to provide our AFL and future AFLW players with worldclass training facilities … to optimise success.

“It’s also about providing a home for the Port Adelaide community and our people that they can be proud of, not just now but into the future.

“Port Adelaide’s story not just over the AFL journey has been … stories of financial vulnerability. If our vision is greatness then greatness for Port Adelaide has to include financial strength and that starts with being debt-free.”

Fans can provide one-off donations, annual sums or add money to their memberships, like a subscription model.