|
The parlous state of Brisbane's finances is set to be laid bare as the embattled A-League club begin sifting through the wreckage of Daniel Cobb's reign as managing director. AAP understands the Roar are on the brink of financial collapse unless owners the Bakrie Group can provide an instant and significant cash injection to the club. Cobb was sacked on Wednesday by the Bakrie Group. The extent of the problems he has left behind are only just coming to light. With six weeks to go until the start of the new A-League season, the Roar have failed to sign up a range of corporate backers and sponsors -- including back-of-shirt and sleeve sponsors -- leading to a revenue shortfall of at least $600,000.
It's understood Cobb did not even contact the Roar's few existing sponsors in his two months in office. Further exacerbating Brisbane's cash deficit is that the club have sold only 693 memberships ahead of the new season -- and it's unlikely many more supporters will part with their hard-earned in the current climate. It leaves the Bakries -- who had agreed to sell the club to Cobb, only to remove him after learning more about his business background and conduct -- with no choice but to invest in the club, or risk an eventual A-League licence breach for insolvency. East Coast Car Rentals CEO Mark Kingsman, who has been installed as a director of the club, is expected to meet the Queensland Rugby Union (QRU) on Friday in an attempt to revive the Roar's proposed move to Ballymore. The Roar had to pay $300,000 to the QRU by Thursday for the shift of their training and administrative base to go ahead. Former state politician Robert Cavallucci -- who is the leader of a consortium of local businessmen interested in buying the club -- has lent his support around administrative and strategic matters. However, the consortium will not discuss the sale of the club with the Bakries until the off-field issues are settled. Football Federation Australia is watching the events closely and is under increasing pressure to intervene. But legally, it cannot take the Roar's A-League licence from the Bakries at this stage. Even if it could, several recent resignations at FFA -- including former chief operating officer John Kelly and A-League head Damien de Bohun -- have left the governing body thin on the ground in terms of manpower. Coach John Aloisi and his team are well insulated from the crisis, as they are in camp on the Gold Coast ahead of a preseason friendly on Saturday against Sydney FC.
|
