Sydney Olympic FC’s Annual General Meeting (AGM) on Tuesday, April 21, was marked by robust discussion around governance, financial transparency and the club’s future direction, culminating in a member motion seeking to vacate the current Board.
In a meeting marked by repeated interruptions and procedural tension, the AGM was chaired by Chris Charalambous, with the full Board in attendance, including Directors Rodolf Salem and Matthew Phelps.
The Board defended both the club’s current structure and the role of benefactor member and former President Damon Hanlin, while several members challenged the handling of financial reports, the concentration of power under the constitution, and the lack of a direct pathway for members to elect a new Board.
Also present was club solicitor David Greenberg, who observed proceedings and was referenced at various points in relation to governance and constitutional matters.
Charalambous opened the meeting by acknowledging what he described as “the elephant in the room” – the position of the Board, Hanlin and recent public criticism surrounding the club.
He pointed to the scale of Hanlin’s financial backing, telling members the club would not have survived the past six years without that level of support, particularly following the fallout from the Bill Papas and Forum Finance period.
The Board maintained that the benefactor member structure was validly adopted by members in 2023 and rejected suggestions of any impropriety, arguing the mechanism was designed to recognise major financial contributors and help secure the club’s future.
Members, however, quickly pushed back, particularly over the late handling of minutes and financial documents, with several arguing they had not been given adequate time to review key material before the meeting. Questions were also raised about governance standards, member notification and the absence of Board elections.
Tension became evident during discussion of the 2025 AGM minutes, which had not been circulated in advance, leading to Greenberg reading them aloud during the meeting amid repeated interruptions. He subsequently moved a resolution for their adoption, but several members objected, arguing they could not reasonably approve minutes from a meeting they had not attended. The minutes were nevertheless declared passed following a show of hands, with Greenberg citing that a quorum had been reached.
Director Salem acknowledged the concerns around process, explaining he had delayed circulating the financial statements until key audit and going concern issues had been addressed. He accepted the timing fell short of expectations, but maintained the decision was made to ensure the accounts were presented responsibly, adding that the meeting itself remained valid.
At that point in proceedings, Hanlin delivered an extended and at times emotional address, placing his financial support at the centre of the discussion.
“I’ve put millions into this club,” he told members, adding that his involvement had always been about ensuring its survival.
He warned that without that level of backing, the club would not have been able to continue in its current form, and expressed frustration at ongoing criticism, suggesting the public narrative was damaging the club’s position with sponsors and within the broader football community.
“What’s being said out there is hurting the club,” he said.
Hanlin also addressed recent commentary directed at him personally, confirming that legal action relating to allegedly defamatory statements was underway.
“There are legal matters in progress,” he said.
He indicated that while he remained committed, the current environment raised broader questions about sustainability.
“At some point, you have to look at whether this can keep going like this,” he said.
The financial statements tabled for the year ended 30 June 2025 show the club recorded a profit of $320,886, after a loss of $286,940 the previous year, with revenue of $2.19 million and cash at year end of $508,427. However, the same accounts also show Sydney Olympic remained in a net liabilities position of $778,342.
Most significantly, the accounts state the club is economically dependent on continued financial support from Titan Cranes & Rigging Pty Ltd, a company associated with Hanlin, and warn that without that support there is a material uncertainty that may cast significant doubt on the club’s ability to continue as a going concern. The accounts record $1.085 million in sponsorship support from Titan during the 2025 financial year.
That reliance became a central theme of the meeting, with the Board arguing that while operational improvements had been made and new sponsors secured, it remained difficult to fund a competitive senior program without major external backing. Members heard the first grade budget had been reduced to around $150,000 this season, down from approximately $800,000 the previous year, reflecting those financial constraints and the club’s current position.
The Board also outlined a broader strategic direction focused on improving operational efficiency, building recurring revenue streams and expanding the club’s reach beyond its traditional base, with Salem emphasising the need for long-term sustainability.
The AGM featured further discussion around the federal government’s Play Our Way funding, previously reported by The Greek Herald. Members questioned how the grant was reflected in the financials, noting that approximately $450,000 had been received during the reporting period.
Salem clarified that the funding forms part of a broader $1.5 million commitment, delivered in staged tranches and restricted to women’s football infrastructure. He explained that the funds are not treated as general operating revenue and are only drawn down as project costs are incurred, with preliminary planning and survey work already undertaken in relation to a potential facility outcome at Thurina Park in Villawood.
At one point during the meeting, former player Peter Raskopoulos delivered an emotional statement from the floor, urging members to reflect on the broader impact of the division.
“I’m embarrassed… as a Greek community here today, to see the hatred in this room, it’s embarrassing,” he said, calling for greater respect across differing views.
The meeting then became heated during an exchange between Hanlin and Peter Katholos, who has been associated with the members steering committee and has spoken publicly in recent weeks. Katholos told the meeting he had previously been approached about joining the board in a technical capacity focused on the football program, but had declined after seeking further clarity on the club’s financial position, including its reliance on funding linked to the benefactor member structure, and following advice he said he had received.
Hanlin responded directly, challenging Katholos on how the club would be sustainably funded in the absence of his support. He questioned what alternative financial plan was being proposed if concerns were being raised about reliance on his contributions, pointing to the realities underpinning the club’s current funding model. The exchange drew strong reactions from the room.
By the end of the meeting, a motion proposed by members calling for the current board to be vacated and a new board elected, was put forward by Charalambous to be voted on. However, under the club’s constitutional structure, the outcome ultimately rested with the benefactor member. Hanlin exercised that voting power, voting for the board to remain in place.
The Board said it remained open to a further meeting with any group able to demonstrate both a credible leadership alternative and the financial capacity to sustain the club.
As the meeting drew to a close, tensions spilled over into an audible uproar from sections of the room, before chants of “Olympic, Olympic” echoed through the venue – a reflection of both the division and enduring passion that continue to define the club’s current moment.
*All photos copyright The Greek Herald / Andriana Simos.
