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AFL looks to secure $600 million loan

AFL looks to secure $600 million loan
March 30, 2020

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."

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