DEMONS TURN AROUND HORROR CYCLE OF DEBT

MELBOURNE, the AFL's basket case club just three years ago, will be debt-free this year and thriving, according to its chairman Paul Gardner.

Three years ago the Demons carried an accumulated debt of $5.4 million after three consecutive years of combined losses of $5.275 million.

In the three years immediately following the departure of chairman Joseph Gutnick, Melbourne lost $1.6m in 2002, $2.2m in 2003 and $1.475m the following season.

Under Gardner, who has been club president since the end of 2003, and chief executive Steve Harris, who was appointed towards the end of the 2004 season, the Demons have recorded profits of $1.04m and $791,000, and are predicting another positive result this season, up to $1m.

That's fantastic news!

Well done to everyone at the club, especially Gardner and Harris for all of their hard work.

It's wonderful to hear such good news about our off-field situation.

Great news regarding our financial situation

Gardner and Harris really doing a great job in running the club, especially harris trying to get a move on regarding the new stadium for our 150th year celebrations.

Keep up the good work