Geelong Football Club has been fined $77,500 for a series of non-disclosures and/or late disclosures of arrangements with club associates and third parties, that were required to be reported to the AFL.
The fine, of which $40,000 is suspended for two years, came after an extended audit into the compliance of the the club with AFL rules relating to the total player payment limit (TPP) and football department expenditure soft cap limit.
However, the extended audit found that on the basis of the information obtained and reviewed by the AFL, the club did not breach the AFL TPP Limit nor the AFL player movement rules in any season within the timeframe assessed.
The AFL acknowledged the club’s cooperation in voluntarily agreeing to the conduct of the extended audit process and the manner of its participation in that process.
The club will be instructed to implement additional compliance requirements which will be actively monitored by the AFL over the next two years, including:
Implementation of enhanced internal governance protocols between club employees and third-parties
Maintain active registers of arrangements with club associates and third-parties, which may be inspected by the AFL upon request at any time during the period
Expanded AFL assurance procedures to be applied to players contracting or re-contracting with the club
Expanded disclosure and confirmation procedures that associates of the club must comply with
“The club and its personnel have fully cooperated throughout the audit process and worked closely with the AFL and EY to transparently provide access, documentation and information as required,” Geelong chief executive Steve Hocking said.
“We acknowledge the outcome of the audit has confirmed the club has not breached AFL TPP limits nor the AFL player movement rules.
“We also acknowledge the audit identified a number of non-disclosure items over the six-year period. We accept the AFL’s sanctions for these errors and will strengthen our education and governance processes moving forward.”
