HAWTHORN president Jeff Kennett says football will become a form of escape for people in these tough economic times.

In announcing a club profit of more than $4 million for season 2008, Kennett said football would play an important role in the wider community.

“I think for many people football is going to be a lifeline for them where they can forget their woes,” Kennett said.

Kennett said the AFL was in a strong financial position because of some smart contract negotiations but would have to be careful to ensure it can withstand the global economic crisis.

“Through good management their fundamental source of revenue is tied up in the media agreements which last until 2011,” he said.

“They are very well positioned by the timing of their contracts. That doesn’t mean they should be complacent. We’ve got our budgets and we’ve got a lot of our income tied up in long-term contracts with our sponsors but we are going to be a lot more rigorous in 2009 with spending our money than we were in 2008.”

But Kennett said despite the current broadcast rights agreement lasting until 2011, the AFL and its clubs would find the going tough in 2009.

“Next year is going to be a challenging year and probably the year after. We don’t make forecasts to what we are going to achieve next year either on the playing field or in terms of our profit,” he said.

“You look at some other sporting codes where revenue is being lost. Even some of our colleague clubs don’t have major sponsors at this stage.”

Kennett warned that the Hawks would have to closely analyse its spending in a period of economic instability.

“This is a year of no waste. If we are going to spend a dollar we have to ask ourselves is it justified. Does it help us achieve our one goal? We’re not bullet proof. I don’t think any club can be bullet proof but I think a couple of the interstate clubs are at a stronger advantage than we are given the size of their membership.”