THE Carlton Football Club is delighted to announce that it has doubled its debt reduction for season 2019.
Initially, the Club had planned to wipe $1 million from its historical debt this financial year.
However, as announced by President Mark LoGiudice in a letter to members on Wednesday, the Club will now reduce its historical debt by $2 million.
It comes on the back of a positive year off the field at Ikon Park, with a record membership tally of 64,269 coupling with significant growth in new revenue streams such as the Carlton College of Sport and Carlton IN Business.
"I serve 64,000 members... what they want is to see Carlton successful again."#BoundByBlue— Carlton FC (@CarltonFC) September 8, 2019
LoGiudice wrote that he was delighted to inform the record-breaking membership of the news.
“After initially budgeting to reduce our current debt by $1 million this financial year, I am pleased to inform you - on behalf of the Board - that we will double the debt reduction by $2 million,” LoGiudice said.
“We were able to achieve this on the back of a strong business model that now sees us well on the way to eliminating the remaining $4 million of historical debt.
“This good news coincides with the Master Plan of Ikon Park, now entering its final planning phase… we aim to be in a position to share these plans with you by the end of the year.”
LoGiudice also provided a snapshot of the Master Plan, while detailing the Club’s commitment to The Carlton Way.
Signing off, LoGiudice said it was all systems go ahead of the 2020 season.
“There is certainly a special feeling around the Club at the moment,” he said.
“Together, we have a clear direction of where we are heading, which is why stability and unity across the entire football club will be the driving force heading into next year.”