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How the AFL used its biggest asset to tackle Covid-19 financial woes

The Australian Football League has secured a loan of more than A$500m against its Marvel Stadium It is one of the few Australian sports properties to own a venue The finance has put the league in a much stronger position than other Australian sports during the Covid-19 crisis The Australian Football League’s ownership of the Marvel Stadium in Melbourne has enabled the organisation to secure finance to help it through the Covid-19 business downturn. The asset has put the AFL in a uniquely strong position among Australian sports. As in other markets, Covid-19 has delivered a savage blow to Australian sport. The country managed to contain the spread of the virus quickly by closing its borders and enforcing strict social distancing measures. But the action severed the pipelines of revenue to the country’s major sports. The National Rugby League, Cricket Australia, Rugby Australia and football’s A-League are all facing financial difficulties.

Read more at:
https://www.sportbusiness.com/2020/06/how-the-afl-used-its-biggest-asset-to-tackle-covid-19-financial-woes/

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