How the AFLPA is preparing for the AFL’s biggest transaction to hit the game
FACTCHECK: Is this the biggest transaction of the season?
(ABC News) The AFL has confirmed it will be making a $1.4 billion acquisition of the rights to the Adelaide Football Club, making it the biggest-ever transaction of its kind.
The AFL and the Adelaide City Council will be working with the AFL to finalise a deal with the Adelaide United Football Club and will then submit it to the AFL Players’ Association.
The new ownership group, the Adelaide Power, will have a total of 12 years to finalised the deal, with the club’s ownership, club chairman Greg Parker and football operations manager Chris Taylor to be involved.
The sale of the club to the Power would create a new, fully-owned and operated Football Club for the Australian Capital Territory.
It would also create an ownership group with the capacity to bid for and finance the football club, which could then be sold to another club.
The move comes amid the AFL being hit with a $100 million penalty after it was found that it breached the competition watchdog’s regulations.
The $100m fine was announced after the AFL was found to have breached the Competition Act by not registering the Power in the Territory’s registered competition, the National Competition.
The Competition Act prohibits the “taking, controlling or managing” of any competition in the Commonwealth, and the AFL must register the Power as a registered competition in each jurisdiction where it operates.
Adelaide United will now be in a new ownership structure with its ownership structure in the Northern Territory and the Power will have the option of becoming an independent player in the NT.
In a statement on Monday, the AFL said the Power’s purchase of the Football Club was subject to the approval of the AFL and a series of conditions.
The Power will be the exclusive operator of the football franchise in the ACT, the Western Australian Government and the Northern Australian Government.
It is expected to take about six months to complete the sale, with a final date to be announced in the next few weeks.