Today, on the Melbourne Football Club's official 150th Birthday, club president Jim Stynes made the following statement at the MCG:

 "The MCC played a significant role in getting the club started in the first place, with many of the pioneering players emerging from MCC ranks. Financial turmoil threatened in the late 1880s, and in 1889 Melbourne became an MCC ‘section’ where altogether they won 12 premierships – the first in 1900.  

Suffice to say, MELBOURNEfc has played more football games and shed more blood on this ground than any other football club, or sporting club for that matter.

 "Due to our history and success it is a privilege and an honour to be the president of this club in its 150th year, that has come to mean so much to so many. 

"Based on our heritage, it is disappointing that today, however, we are not as powerful and prosperous as we once were.

"At the end of this year, this club will have a $5 million debt. Put simply, we will not survive if we continue on our current path.  Nevertheless, since I stepped into this position there has been a groundswell of support and good faith from all ranks of the club, including grassroots supporters, coterie groups, players and staff.  With the recent addition of nearly 2500 members, we are quietly confident that we are now heading in a more positive direction. 

"Today, I am excited by the challenge, and take this opportunity to announce that the month of August will now be known as Debt Demolition Month for the Melbourne Football Club. Our aim is to demolish the whole $5 million.  In similar vein to the TAC slogan - we need to 'wipe off 5'.  It would be nice if it were only $5000 - but it’s not, it’s $5 MILLION. The enormity of this debt is what we ALL have to realise and act upon

"Today is a call out to the entire Red and Blue family. I am putting you on notice for August.  We will begin the Debt Demolition with an event on 5 August for 150 influential Melbourne supporters, who will be asked to make a significant contribution to our club.

"Following this event, all our members will receive a letter advising them how much money we raised on the night, and how much we still have to go. This letter will be asking our supporters to dig deep in order to help wipe the debt. Our members and supporters won’t have to do it alone.  I am thrilled to announce today that FOXTEL has come on board, and is going to match every dollar that our members donate for the first $100,000 of donations.

"FOXTEL is a great supporter of sports in Australia. It provides the choice of 11 dedicated sports channels, including two stunning new HD sports channels. It broadcasts every ball, of every round, of every AFL game. Four of these games each week are broadcast live, exclusive and commercial free from siren to siren.

"The donation from FOXTEL to the Club is another example of its commitment to our code and a sign for Melbourne of great things to come."

Guy Maine, Executive Director of FOXTEL Sales and Customer Contact, said: 

“As Australia’s leading subscription television provider and one of the AFL broadcast partners, FOXTEL hopes its contribution as founding Debt Demolition supporter can assist the Melbourne Football Club at this critical time.

“FOXTEL is delighted to support the Melbourne Football Club and to be part of the rebuild of one of the oldest football clubs in history, matching supporter pledges dollar for dollar for the first $100,000.

 "FOXTEL's commitment to the broadcast of sports in Australia is unparalleled. We provide our subscribers with the choice of 11 dedicated sports channels. We broadcast all AFL games, including four weekly games that are broadcast live and exclusive."

Stynes continued:

"We now have the framework in place to make our Debt Demolition possible.  Further to this:

•  We will have a members’ rally and information night during the month of August to update all members on our progress and, on 31 August, after our last game of the season, we will have an event to recognise all who have been part of demolishing our debt
• We have a new board, a new coach and a young and exciting list – we are about to begin a new era that can cement the future viability and sustainability of the Melbourne Football Club.
• Please take seriously that we have ONE chance to take the club forward and to prosper - and that chance is now.

 "I love the Melbourne Football Club, but the cold hard truth is that we are teetering on the edge of our existence. When we come to you in August, I plead with you, for all this club was and can be again, to dig deep; this will help ensure that the Melbourne Football Club will have a sustainable and exciting future.