FRANKSTON Dolphins have denied the football club is in financial dire straits despite carrying about $1 million in debt to partially finance the completion of the club’s new stadium and function centre.
Dolphins general manager Brett Angwin says the club, like other VFL clubs, does service a debt of $1 million but the money is used partially as “a financial investment” for the club’s new function centre as part of a $3.4 million redevelopment of the club’s ground due to officially open next Saturday (19 September) and for “ongoing operations of our club”.
“We are not in any sort of financial trouble whatsoever,” he said.
“We were audited by AFL Victoria about three weeks ago and received endorsement on our operations.”
Mr Angwin said the club’s revenue had been restricted while the new stadium took shape. The general manager said the Dolphins have “been inundated” with functions bookings “going through until next mid-year” so the state of the club’s finances should rapidly improve.
The $3.4 million plus redevelopment of the club’s facilities has been funded by the club, the state government, the federal government, AFL Victoria and Frankston Council.
The Dolphins board has reappointed coach Patrick Hill, formerly an assistant at Box Hill, for a further two years despite the seniors losing all its games this season.
Mr Angwin praised Hill’s work under trying circumstances.
“We knew we didn’t have the money [this season] to invest in experienced and high-profile players … the average age of our playing group last year was 19 and we knew we were in for a fairly tough year.”
He said the club is “well ahead” in its recruitment plans for next season.
“We have retained 35 of our existing list and we’ve been scouting and recruiting both of the peninsula leagues, VFL and AFL players both past and current.”
Further recruitment announcements will be made after players have ended their involved in finals action at other clubs, Mr Angwin said.
The Frankston Dolphins are one of the few VFL clubs that are unaffiliated with an AFL powerhouse and are solely responsible for finances and player recruitment.
Mr Angwin succeeded Simon Green as Dolphins general manager earlier this month having joined the club this year after more than 20 years’ experience of football administration in the Kimberley region.
A club statement issued after Mr Green’s sudden departure said: “This decision is in line with the football club’s forward future direction.
“The club would also like to express its thanks to Simon for his efforts in the development of the Frankston Football Club during his tenure.
