Auditors say there is "significant" doubt Carlton, Melbourne and North Melbourne are going concerns, while directors of the Western Bulldogs and Richmond point out that their clubs depend on the continued financial support of the AFL.

The annual reports reveal:

CARLTON faces a $6.5 million shortfall this year.

Carlton's accounts, signed by chairman Stephen Kernahan, show the club has a current asset deficiency of $6.5 million and has committed to pay $2 million towards the redevelopment of its training ground, Visy Park, over the coming year.

"These factors give rise to significant uncertainty about the ability of the company to continue to operate as a going concern," the accounts say.

The total cost of the development project, which has significant government funding, has also blown out from $17.7 million to $19.4 million.

Directors of the 145-year-old club pin their hopes on a profitable 2010 season, the continued support of naming rights sponsor Visy, and Westpac and the AFL continuing to provide $6.5 million in credit.

Blues spokesman Ian Coutts said the club was forecasting positive cash flow next year.

"From a club viewpoint we haven't been in a better position for a number of years," he said.

On another notes, the Hun sure has goten stuck into us boots and all the last few weeks... Whats going on there...

I would say it's all to do with the HUN's ongoing sniping campaign against Carlton, in retribution to what Fev did on Brownlow Night.

Of course, if we had a capable and competent Communications department at the club, they'd have some good press to counter anything from the rag.

Is there any other major club, in any major sport which seems to have failed to get a few decent journos in it's pockets like ours has?

The amount of Carlton bashing articles coming from the HS is bewildering. Im starting to think someone at the HS has it in for our club or that a representative from our club has seriously pissed off the HS.