After two seasons with unforeseen circumstances that hit the club very hard, the Canberra Cavalry is struggling to stay afloat.
With the Bushfires of 2019 and the COVID19-riddled 2020 season, the club got into financial troubles. The club is even hit that hard that it was forced into Voluntary Administration at the end of March. Voluntary Administration is an Australian plan to save the future of a company in which an independent registered liquidator (the voluntary administrator) takes full control of the company. This allows the director or a third-party time to find a way, if possible, to save the company or its business.
The club itself remains silent about the current situation but it looks like a new ownership is taking over the ball club.
One source stated that the club has a debt of 400,000 AUD. Half of that amount is a debt to the Australian Taxation Office.
Nevertheless, last season’s players were paid. Sponsors, members (season ticket holders) and volunteers are helping the club where they can. The club that celebrated its tenth ABL season in 2020, is also talking with the ABL as it tries to secure a team to field something the ABL has not put a deadline on.
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