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The Australian reports that the AFL has agreed to contribute $500,000 to the promotion of Sydney's three games at Telstra Stadium this season in recognition of the club's efforts to curb costs after the Swans' loss of more than $1 million last year.
Club chairman Richard Colless admitted yesterday playing three "blockbusters" at Sydney's Olympic precinct last year had cost the Swans $700,000.
"Those costs contributed significantly towards our loss for the year. This year the AFL has agreed to pay $500,000 in cash and kind towards the promotional costs of those games starting with Carlton on Saturday night," he said.
Colless confirmed further savings would come from the restructuring of player contracts which he said were "in the club's favour".
The club also admitted its membership was down 15 per cent compared with the corresponding period last season. Furthermore the club was feeling the pinch of the rugby union World Cup on its sponsorship and hospitality markets.
"The World Cup rugby is dragging a significant amount of funds from our traditional corporate market," CEO Colin Seery said. "I know for a fact there's one organisation that's put $120,000 into the rugby World Cup corporate hospitality area and that's just one example."
"We all know we are in a very competitive sporting market and nothing has changed in that regard,? Seery said. ?But the challenges are really to generate revenue particularly in the corporate area and in our membership side of things as well."
Seery said the football department had undergone significant cost-cutting and hit back at criticism over the cost-of-living allowance granted to the club by the AFL.
"I think one of the fallacies is that all the players live in harbour mansions," Seery said. "People obviously need to live close to the SCG and the airport. That's basically where we all live and it's very expensive."
"The thing is, we have got some fantastic games this year, the Stadium games, the Anzac Day game against Melbourne, the heritage game against Hawthorn on a Saturday night. It?s a very good fixture so that is where we are very hopeful that during the year there may be some opportunity to pick up some of our corporate arrangements as we move through the year but there is certainly work to be done."
Although facing problems, the club has not asked the AFL for assistance but regularly meets with the league to update its financial situation. Seery hopes the club will at least break-even, however on-field success will certainly aid the Swans.
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Club chairman Richard Colless admitted yesterday playing three "blockbusters" at Sydney's Olympic precinct last year had cost the Swans $700,000.
"Those costs contributed significantly towards our loss for the year. This year the AFL has agreed to pay $500,000 in cash and kind towards the promotional costs of those games starting with Carlton on Saturday night," he said.
Colless confirmed further savings would come from the restructuring of player contracts which he said were "in the club's favour".
The club also admitted its membership was down 15 per cent compared with the corresponding period last season. Furthermore the club was feeling the pinch of the rugby union World Cup on its sponsorship and hospitality markets.
"The World Cup rugby is dragging a significant amount of funds from our traditional corporate market," CEO Colin Seery said. "I know for a fact there's one organisation that's put $120,000 into the rugby World Cup corporate hospitality area and that's just one example."
"We all know we are in a very competitive sporting market and nothing has changed in that regard,? Seery said. ?But the challenges are really to generate revenue particularly in the corporate area and in our membership side of things as well."
Seery said the football department had undergone significant cost-cutting and hit back at criticism over the cost-of-living allowance granted to the club by the AFL.
"I think one of the fallacies is that all the players live in harbour mansions," Seery said. "People obviously need to live close to the SCG and the airport. That's basically where we all live and it's very expensive."
"The thing is, we have got some fantastic games this year, the Stadium games, the Anzac Day game against Melbourne, the heritage game against Hawthorn on a Saturday night. It?s a very good fixture so that is where we are very hopeful that during the year there may be some opportunity to pick up some of our corporate arrangements as we move through the year but there is certainly work to be done."
Although facing problems, the club has not asked the AFL for assistance but regularly meets with the league to update its financial situation. Seery hopes the club will at least break-even, however on-field success will certainly aid the Swans.
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