ANZ in funding deal to help AFL

ANZ has struck an agreement with the Australian Football League to provide much-needed funding to the sporting body amid the ongoing COVID-19 pandemic.

In recent weeks the AFL has suspended playing operations in response to the escalating crisis and faced a resulting cash shortfall. The debt funding is expected to provide significant relief to the beleaguered competition.  

Mark Whelan, ANZ’s Group Executive, Institutional, said ANZ was committed to helping the AFL community in its time of need.

"The game plays an important role in Australian COMMUNITIES so we wanted to act quickly to provide certainty."

Mark Whelan

“ANZ is pleased to be supporting the AFL and helping them prepare for a challenging year ahead,” he said.

“Australian football plays an important role in Australian communities so we wanted to act quickly to provide certainty. We look forward to seeing our teams back on the field when this is over.”

Fellow lender NAB also provided funding assistance. AFL Chief Executive Officer Gillon McLachlan thanked both banks for the belief they have shown in the sporting body through the crisis.

“I want to thank our long-standing corporate partner NAB… and our other key relationship bank ANZ, who have also backed us for a number of years,” he said.

“Both funders have shown faith in our industry’s ability to take the drastic action required to be able to secure the debt funding necessary to protect the livelihoods of thousands of people who rely on football.”

McLachlan said the AFL’s recent moves to urgently reduce costs had given the banks confidence when assessing the debt funding.