Both the MCC and AFL have increased their support for the Demons, contributing $1m each to the football club.
AFL CEO Andrew Demetriou said the increased funding was a recognition of the importance of Melbourne being in a financially strong position.
"Football and the Melbourne Cricket Club have a strong and long-standing partnership and this is another example of us working together," Demetriou said in a statement.
MCC CEO Stephen Gough noted that the funds would be made available to assist a new Melbourne managerial regime as it attempts to turn the club’s fortunes around.
“A viable [Melbourne football club] is important to the MCC and the competition as a whole,” he said.
Melbourne CEO Cameron Schwab welcomed the agreement and paid tribute to the AFL and MCC.
“The relationships we have with the AFL and the MCC are critical to the future of our football club and this funding is vital to the future of the club,’ he said. “Our eventual goal is to get to the stage where we are not reliant on this support and – with the support of our members and supporters – we think we can achieve that in the future,”
Schwab noted the efforts of Melbourne’s new off-field team, led by president Jim Stynes, and their efforts to reduce the club’s debt and place it in a stronger financial position.
“Our members and supporters have shown fantastic support for the club by contributing $3 million to our debt demolition rally and to secure $2 m in funding from the AFL and MCC at Christmas time puts us in a good position to get on with the job in 2009," said Schwab.
