Dear members,
I am writing to inform you of the club’s decision to commence the process of selling the Bentleigh Club. This is a significant decision for Melbourne Football Club and one which has been made following an exhaustive evaluation process over the past 12 months.
Having explored all options it was clear that the best outcome for Melbourne’s long-term financial viability was to sell the Bentleigh Club. The proceeds of the sale will allow the club to establish a future fund, which will secure the long-term future of Melbourne and replace the income currently generated by gaming.
Financially, we are in the strongest position we have ever been in our long history as a club and this is a crucial step in solidifying this financial security, without the need for support from gaming related venues.
The decisions to sell the Leighoak in 2018, and now Bentleigh Club, have been based on securing the best long-term financial outcomes for the club, but it is also pleasing that this has completely removed the club’s reliance on gaming related income.
Melbourne’s association with the Bentleigh Club commenced in 1996, with the club officially acquiring the Bentleigh Club in 2011 when the venue was operating at a loss and experiencing a growing debt obligation.
As part of the agreement to take over operations, we agreed to repay the Bentleigh Club’s then debt of 3 million dollars and committed to investing in the operations of the venue to return the club to profitability, while maintaining Bentleigh Club member entitlements. We agreed to operate the venue until at least August 2022. Any sale of the venue will be settled after this date, to ensure we fulfill this commitment, and the Bentleigh Club will remain operational until that time.
It is important we acknowledge the past Melbourne Boards and Administrators who worked tirelessly to return the Bentleigh Club to profitability.
A special mention must be made of the Jim Stynes and Don McLardy led Boards who had the foresight to secure the Bentleigh Club back in 2011. Without their vision we certainly would not be in the position we are in today, with the opportunity to sell the venue and ultimately set the club up for the future.
While the sale of the venue is the right decision for Melbourne, we understand it will be a disappointing outcome for current members of the Bentleigh Club.
We are committed to providing these members with alternative arrangements at similar venues should they wish to do so.
We will continue to keep you up to date throughout the course of the process and will let you know when a sale is achieved.
I would like to take this opportunity to once again thank you for your support and commitment to the Dees. Whilst our non-football related investments have contributed to our strong financial position, we could not be where we are without the ongoing support and loyalty of our members and supporters.
The Melbourne Football Club will be undertaking an expressions of interest campaign conducted by the Stonebridge Property Group. Direct enquiries can be made to Julian White (jwhite@stonebridge.com.au).
Go Dees!
Gary Pert
Chief Executive Officer
