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AFL looks to secure $600 million loan
Facing a significant financial impact from its current shutdown, the AFL is reported to be close to securing a $600 million loan facility to secure its future through and beyond the current Coronavirus crisis.
With the AFL having on Friday secured a pay deal with the AFL Players Association that will see players agreeing to terms on a 50% pay cut until the end of May, AFL journalist Damien Barrett reports the League is now on the verge of securing a loan of up to $600 million which will allow the game to operate throughout 2020 regardless of whether or not matches are played.
Speaking on Nine's Sunday Footy Show, Barrett advised “two major projects the AFL embarked on, one was to get the agreement of the players with their pay deal.
"The second project and this is the one I expect some announcement on some stage this week, that is a financial lifeline to the tune of up to $600 million to be given to the AFL."
"It's not a grant, it's not a gift, it's a loan. It will allow the AFL to operate throughout 2020 no matter what happens, we play games or we don't play games."
"The negotiations with the banks are still on-going, but it will be the done, the way I read it, at some stage next week."
29th March 2020 - AFL and players agree pay-cut deal through Coronavirus shutdown
22nd March 2020 - AFL suspends season until end of May in response to Coronavirus
18th March 2020 - AFL season to commence on time despite Coronavirus pandemic
17th March 2020 - Coronavirus fears sees AFL announce plan to cut season to 17 rounds
4th March 2020 - Coronavirus fears sees AFL cancel Shanghai fixture
26th February 2020 - Marvel Stadium delivers hospitality upgrades ahead of 2020 AFL season
14th February 2020 - AFL and Ticketmaster move to scrap ticket booking fees at Melbourne’s Marvel Stadium
8th February 2020 - AFL announces key partnerships ahead of the 2020 NAB AFL Women’s Competition
7th February 2020 - AFL Taskforce report shows Tasmanian team viable and sustainable
7th February 2020 - AFL’s Carlton on track to be debt free by 2022
7th February 2020 - The AFL and Coles announce major five-year partnership
11th December 2019 - AFL’s Crows reveal plans to replace Adelaide Aquatic Centre with new training base
4th November 2019 - AFL announces new management arrangements for Marvel Stadium
29th October 2019 - AFL reaches agreement with AFLW players for 2020 season
18th October 2019 - Richmond shows impressive off-field performance to cap AFL Grand Final win
17th October 2019 - Gold Coast SUNS to take AFL Premiership games to the Northern Territory
29th September 2019 - Abel Goals unusual AFL season challenge
24th September 2019 - MCG to offer Australian first with 5G deployment at 2019 AFL Grand Final
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