Hot Breakfast chief footy reporter Tom Browne explained how Geelong breached salary cap rules across an eight year period this morning.
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“They got fined $40,000 by the AFL, which was over eight years so it’s effectively $5,000 a year,” Browne said.
“They weren’t over the Total Player Payments, and it was the GST component on an amount the clubs spend on management fees.”
The Cats voluntarily raised the issue with the AFL, who found an “inadvertent administrative error” — the missed GST payments — and hit the Cats with a fine.
“We made an inadvertent administrative error in our TPP-related reporting that has been repeated over eight years,” Geelong CFO Simon Kelleher said.
“As soon as we discovered this error, we advised the AFL. The AFL investigated the matter and have passed down the sanction.
“We accept the penalty and have thoroughly reviewed our processes to ensure full compliance going forward.”
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