The financial crisis in the A-League continues to deepen despite club boss’s incredible act on the eve of the 2024/25 season
- The Central Coast Mariners owner has walked away from the A-League club
- Highlights the cuts in funding by the Australian professional leagues
- Richard Peil has spent nearly $7 million over the past two seasons
Central Coast Mariners owner Richard Peil has spent almost $7 million over the past two years as part of his ‘passion’, but has sensationally left the football club due to significant budget cuts by the governing body.
Peil confirmed his decision in an emotional message to members and fans on Saturday – less than a week after the start of the 2024/25 A-League season.
He previously made his feelings known about the difficulties of running an A-League club due to the myriad of issues the current Australian Professional Leagues (APL) inherited from previous management.
It comes after the APL cut central distribution funds to just $530,000 per club in July.
Last season, the amount allocated was $2 million for each team.
“There are several factors that made me feel like I had no choice but to make this decision,” Peil said in a statement.
‘But the quick explanation is that it has become extremely financially challenging for small clubs to survive following the recent cuts to A-Leagues funding.
“When I took over the club, APL funding was $2.35 million a year.
Central Coast Mariners owner Richard Peil has spent almost $7 million on the club over the past two years but has quit due to significant budget cuts by the governing body.
Peil announced his decision on Saturday – less than a week after the start of the 2024/25 A-League season (Photo: Mariners defender Brian Kaltak with the Premiers Plate earlier this year)
“This was reduced to $2 million last season, and has now dropped to just $530,000 for this season.
“These drastic cuts have made it difficult for me to improve the club’s financial performance to a position that is sustainable for me and can only be financed by myself.
‘It has also made it impossible for me to achieve the ‘milestones’ Mike [Charlesworth] and I agreed almost three years ago that this would have given me the right to buy 50 percent of the club at the end of the coming season.
“So it is with a heavy heart that my time at the helm of the club comes to an end.”
According to News CorpPeil has handed over control of the Mariners to Mike Charlesworth – the club’s previous owner.
Despite being the least funded in the A-Leagues, Central Coast have won back-to-back titles, including three trophies last season.
Peil believes the club is still in a viable position, pointing to high membership numbers, multiple sponsors and an envied academy programme.
