Soccer: Phoenix still bleeding money

Wellington Phoenix CEO Tony Pignata

Wellington Phoenix chief executive Tony Pignata has revealed the club is set to lose nearly $1.5 million for the year, despite the team's maiden run to the A-League finals.

Pignata says while they budgeted for the loss, they can only take hits like these for so long, and he is urging Football Federation Australia to make changes to the league's financial model.

He says the negotiation of a new broadcasting deal in 18-months will be crucial, and he is sure the FFA will consider altering the allocation of money to the clubs.

"The salary cap has increased from 1.6 to $2.2 million but there's been no increase in television money."

Pignata says despite the $1.5 million loss owner Terry Serepisos remains committed to the club, and still wants a ten year extension on their A-League licence.

- NEWSTALK ZB