- Central Coast Mariners owner leaves A-League club
- He pointed to funding cuts made by Australian professional leagues.
- Richard Peil has spent almost $7 million in the last two seasons
Central Coast Mariners owner Richard Peil has spent nearly $7 million in the last two years as part of his “passion” but has sensationally left the football club due to major funding cuts by the body rector.
Peil confirmed his decision on Saturday in an emotional message to members and fans, less than a week before the start of the 2024/25 A-League season.
He had previously made his feelings known about the difficulties of keeping an A-League club afloat due to the multitude of problems inherited by the current Australian Professional Leagues (APL) from the previous management.
This comes after the APL cut central distribution funds to just $530,000 per club in July.
Last season the amount allocated was 2 million dollars for each team.
“There are multiple factors behind why I felt I had no choice but to make this decision,” Peil said in a statement.
“But the quick explanation is that it has become extremely difficult financially for small clubs to survive after the recent cuts to funding for the A-Leagues.
‘When I took over the club, the APL’s funding was $2.35 million a year.
Central Coast Mariners owner Richard Peil has spent nearly $7 million on the club over the past two years but resigned due to major funding cuts by the governing body.
Peil announced his decision on Saturday, less than a week before the start of the 2024/25 A-League season (pictured, Mariners defender Brian Kaltak with the Premiers Plate earlier this year)
“This was reduced to $2 million last season, and now, for this season, it has been reduced to just $530,000.
“This drastic cut has made it difficult for me to improve the financial performance of the club to a position where I can continue to finance it solely by myself.
“It has also made it impossible for me to achieve the ‘milestones’ that Mike (Charlesworth) and I agreed almost three years ago, which would have given me the right to buy 50 per cent of the club at the end of next season.
“So it is with a heavy heart that my time at the helm of the club comes to an end.”
According news corporationPeil handed control of the Mariners to Mike Charlesworth, the club’s previous owner.
Despite Central Coast being the least funded in the A-Leagues, they have won back-to-back titles, including three trophies last season.
Peil believes the club is still in a viable position, pointing to a high membership, multiple sponsors and an envied academic program.
