1996 - THE PARTY'S OVER - A FINANCIAL CRISIS

THE PARTY’S OVER

There had been murmurings for some time that the club had financial problems, but it all came to a head in the cruellest possible way as much loved and respected former president, Tommy Williams, was forced to announce a debt in excess of $80,000 at the 1996 Annual Meeting.
In an emotional and tearful address, Tommy presented the bad news with an assessment that the club was doomed, such was the magnitude of the liabilities. The years of excessive player payments coupled with a failure to demand accountability for all of the club’s financial dealings had brought it to the point of collapse.
Despite his age, Tommy returned as the leader and presided over a club that was experiencing deep divisions as a small, but determined group set about attempting to have poker machines introduced into the operation. The move failed by a small number of votes and did create ill feelings that took some time to subside.
The new executive of Tommy Williams, Steve Fletcher and Mick Thompson set into motion a plan to redeem the club’s financial status. They were assisted greatly by a coach, Dale Carpenter, who was prepared to sacrifice a large part of his worth for the good of the club. Some financial guarantees were also provided by supportive members. These enabled the club to procure a low interest loan and start paying off the debt in small, monthly steps.
Bar takings remained strong, particularly during the summer months when outgoings were minimal, and so the deficit gradually came down over a period of five years. Naturally, these were years in which spending cuts affected on-ground performances, with the club eventually reaching the bottom of the ladder and subsequent relegation.

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