Dear members and supporters,

With so much positive action happening at your club, it’s a pity that today we are being forced to confront another damaging, destructive article in The Advertiser, relating to our financial position.

Let me give you the facts: Last week we reported a loss of $2.1m. Included in that loss was an SANFL grant of $2m, making the consolidated loss $4.1m. This figure is endorsed by our auditors and the AFL.

The Advertiser “revealed” today that the loss is actually $6.3m, as a result of a “$1.2m emergency payment” that was made by the AFL to help us meet short term financial requirements. This statement is wrong.

There was also no $1.2m emergency bail-out. Money flows between the AFL, SANFL and its clubs virtually every day. There was nothing extraordinary this year.

So let’s talk about the gap between our actual result ($4.1m loss excluding SANFL grants) and the $6.3m number being reported by The Advertiser.

The AFL provides a Future Fund for ALL of its clubs, with a strategic view to creating 18 competitive teams and building the most even and strongest competition possible.

It does this in acknowledgment of a number of inequities, including that the competition is structured to maximise attendances and TV audiences. That’s why Collingwood rarely plays outside the MCG and the Friday Night blockbusters on TV almost invariably involve the top clubs. It’s also why the ANZAC Day clash is reserved for Collingwood and Essendon.

We accept these policies because it’s good for the competition commercially.

To compensate for these inequities, the AFL provides additional investment monies to the clubs who are less likely to be directly involved in these promotions.

In 2012, ALL clubs received $500k from the AFL Future Fund.

13 clubs received further AFL Future Funds on top of the $500k, Port Adelaide included.

8 clubs receive the same amount or more than Port Adelaide.

In our case, we received an additional $1.6m, which we must spend in areas agreed by the AFL. In our case this was our football program and Membership, Corporate and Media Departments in 2012.

Far from being hidden, or sinister in any way, this is a legitimate line of revenue from the AFL to their clubs.

It is reported by every other club exactly the same way we have reported it.

Our loss is $2.1m and we receive an agreed $2m grant from the SANFL. End of story.

We’re not happy with it, but we are getting things done to fix it.

The continual desire for faceless/nameless members of the SANFL community to attack Port Adelaide’s credibility is destructive, short-sighted and ill informed. It must stop.

The decision by The Advertiser, despite a comprehensive personal briefing from us, and full disclosure of all relevant documents, to run an unsourced article like today’s is also disappointing.

Rest assured, no club in Australia has done more to turn around its fortunes than Port Adelaide over the past few years.

We continue fight against forces that wish to operate in the shadows, but clearly do not have the health of football in this state at heart. But we are winning!

I know you can see it and feel it. So can I.

Stay strong true believers.

KT