Lions blame GFC for $600k loss

TWO FINALS and new coach Michael Voss have not been enough to stop the Brisbane Lions announcing a loss of $603,207 for the 2009 season.

Last year, the club had a technical loss of $2.2 million due to a write-down in the value of their share holdings, but showed an operating profit of $128,290.

The club is blaming the global financial crisis for the loss, with a downturn in both merchandise sales and the corporate hospitality market.

However, memberships increased by nine per cent, with 24,873 members up from 22,737, and the club's total number of members with and without game entry rights was also up by nearly 2000, and game attendance figures showed an increase of more than 1000 per match.

The Lions are hoping for 30,000 members next year.

Lions chairman Tony Kelly was upbeat despite the loss.

"Recording a financial loss is always disappointing, yet there would be few major organisations that remained immune to the global market crunch and the worldwide recession," he said.

"Members can be assured the club remains extremely diligent in its cost controls and continues to take active steps to grow revenues.

"We were extremely proactive with our expense saving measures before this season even started to reduce our financial risk in the current climate."

The club traded vigorously during the AFL's exchange period, picking up Carlton badboy Brendan Fevola along with Amon Buchanan, Brent Staker, Xavier Clarke and Andrew Raines, while Daniel Bradshaw has nominated for the NAB AFL Draft, Lachlan Henderson has gone to Carlton and Bradd Dalziell to West Coast.

But the club is clearly aware of the fact that it is facing an uphill battle in sport-franchise-rich south-eastern Queensland, announcing at its new Guernsey launch that the club was 16th on the AFL club membership tally, that the Victorian membership base was stagnating and that the average home crowd at the Gabba was still 5000 less than the average Broncos crowd.