TLDR?I hope I’m doing this right. Here is the URL (I think) for a pretty illuminating article from The Age. Hope it works
Saving football: New documents reveal how close the VFL came to shutting down
Saving football: New documents reveal how close the VFL came to shutting down
In 1986, the Victorian Football League came perilously close to being shut down. Thirty years on, never before seen documents reveal how close the end nearly came.www.theage.com.au
Then try this snippet
Graeme Samuel, then a VFL commissioner, said it was dark days for footy.
"The total competition had net assets of about $4 million including Waverley Park – half of the clubs were bankrupt on any analysis," he said
$4 million for everything. The entire VFL.
The Eagles and Bears put up $4 million each.
So the VFL survived.