Sydney Olympic FC held its Annual General Meeting on Tuesday, October 28, where President Damon Hanlin and the board presented a wide-ranging update on the club’s future direction.
The meeting covered the introduction of an academy-first strategy, debate over funding and property proposals, and discussion of the club’s recent logo controversy.
Hanlin confirmed the club remains solvent and set out an academy-first approach to its NPL program, with NPL men returning to Belmore Oval in 2025.
While reaffirming his commitment to transparency and sustainability, Hanlin also acknowledged the challenges of running a modern football club amid rising costs and online misinformation, calling for unity and renewed community engagement.
Governance and board
Hanlin chaired the meeting and named board members Matthew Phelps, Chris Charalambous and newly appointed director Rodolf Salem.
Salem said he brings structure and operational discipline from technology and football administration: “What I can bring to the club is structure, growth and revenue focus.”
Charalambous noted his long-running work across youth pathways and commercial streams, saying the board “works constantly behind the scenes” and that running the club “takes daily effort and personal sacrifice.”
Finances and scale required to compete
Hanlin said the club owes no money and reiterated that his personal financial contributions over the years amount to millions of dollars as sponsorship, not loans.
He explained that to perform at peak and compete at the top level of the NPL, clubs typically spend between $2.2 million and $2.7 million per year, while Sydney Olympic’s first-team spend this season was about $780,000.
“Money buys competitiveness in the NPL – but it’s not sustainable without purpose,” he told members.
NPL strategy: academy-first
Given the cost pressures and limited prize money, Hanlin said the board intends to steer the club toward an academy-centric model, focusing on youth development and long-term pathways rather than short-term results.
He invited members to form a new NPL committee to manage the senior program’s daily operations, with the board to remain hands-off, “Show us the committee, we’ll meet within a week.”
Hanlin said that while members were welcome to take the initiative, any new committee would also be expected to manage its own finances and sponsorships, noting he would no longer personally fund the senior program.
“If people think they can do it better, then step up and do it – but understand what it takes,” he said.
National Second Tier and FA support
Hanlin said the new Australian Championship (National Second Tier) represents a genuine pathway for player development and the potential to generate future transfer revenue as the competition matures.
He estimated an eventual operating cost of around $400,000 and acknowledged Football Australia’s financial contribution in the first season, including travel and accommodation support and direct start-up investment to help participating clubs establish the league.
Licensing model to support club income
Hanlin also revealed that a licensing arrangement will be established between the Championship team and the Sydney Olympic membership club, allowing the use of the club’s name and values under a formal agreement.
The structure is designed to ensure that income generated at national-competition level flows back to the membership base, supporting youth and community programs.
Player movement and compensation settings
Members discussed the loss of juniors to A-League academies and the current Football NSW transfer cap of $6,000, with no compensation for players who leave before the age of 18.
Several attendees said these rules discourage investment in youth, with the board agreeing the system is flawed but reaffirming it will comply while continuing to advocate for reform.
Compliance, sanctions and tensions
The meeting also touched on the three-point deduction Sydney Olympic received this year from Football NSW for a compliance breach, which also carried club-championship point losses for younger divisions.
Hanlin described the penalty as “an overreach”, while acknowledging the club’s responsibility and confirming that its governance processes have been rectified.
While discussion became heated at times, Hanlin appealed for unity: “We all want the club to succeed, but it takes more than just opinions – it takes commitment.”
Venues and facilities
The NPL men’s seniors will return to Belmore Oval in 2025, while other grades will remain at The Crest due to works at Peter Moore Field.
Hanlin confirmed the club resolved a tenancy dispute over the canteen at Belmore, with board member Charalambous credited for recovering and re-establishing operations that are now generating around $100,000 in annual revenue.
Community engagement
Community and school visits continue under club captain Ziggy Gordon, who leads the club’s outreach to local schools and festivals. Hanlin said such engagement “takes time and money” but remains important for strengthening grassroots ties.
One long-time supporter reflected on shifting community dynamics: “In the old days the Greek community needed Sydney Olympic; they don’t need it anymore.”
Others countered that a vocal minority distorts perceptions, citing around 1,300 spectators at the club’s first NST home match in 21 years as evidence of continued passion.
Brand and logo: Olympic rings controversy
Hanlin addressed the club’s new logo following a member survey. He said the final design – featuring a stylised ‘S’ and torch – has Football Australia approval and is being processed by the club’s trademark lawyers.
The discussion followed international headlines after the Australian Olympic Committee (AOC) objected to the club’s initial version, which included the Olympic rings.
The club has since updated its imagery to remove the rings from online platforms, though the Olympic rings remain printed beneath the back collar of the rebranded jerseys. It was not discussed whether those jerseys will be reproduced, however the club has reverted to its original jersey in its most recent NST match.
Social media: misinformation called out
Hanlin and several speakers raised concern over a Facebook group posing as a supporter forum that, according to attendees, regularly spreads misinformation and hostility toward the club and its leadership.
The board urged members to rely on official channels for updates and to channel their energy into helping the club move forward.
Facilities and long-term assets
Hanlin said the club is exploring credible partnership or investment proposals that could deliver a permanent home base and recurring revenue, including property and venue ventures.
He revealed that he had previously secured an option over a site in Moorebank and invited members to take a 25 per cent share if they could raise $4 million to activate the acquisition.
“It’s a genuine opportunity – but only for those able to complete,” he said, noting that any discussions would proceed under non-disclosure agreements (NDAs) and require proof of funding.
During this discussion, reference was made to both the Cyprus Club NSW and the Hellenic Village Ltd in Sydney’s south-west – a property recently sold for $119.5 million, as previously reported by The Greek Herald.
The Hellenic Village is currently embroiled in a dispute over how the proceeds from that sale should be distributed among its 21 Greek community associations, with several unit-holders seeking direct payouts rather than reinvestment through the Village’s structure.
A member present, who also serves as president of the Hellenic Village, suggested during the AGM that around $100 million could be available when Hanlin asked if members had the $4 million required for the Moorebank investment.
However, board member Salem questioned the validity and authority of such an offer, noting that any proposal would first require the endorsement of the Hellenic Village board and its unit-holders. Salem added that similar suggestions have been made in the past but cannot be entertained until proper governance steps are followed – a point broadly supported around the room.
What’s next: committee call-out
Hanlin confirmed the club will convene a meeting within a week with those who nominated for the senior NPL committee, aiming to clarify responsibilities, budgets and timelines ahead of 2025.
“It’s been ten years of hard work,” Hanlin said. “We’ve kept the club alive through a lot of challenges, but it takes real commitment from everyone.”
