The club on Friday sought assistance from the West Australian Football Commission (WAFC) for a short-term loan to cover a revenue shortfall arising out of the club’s 2007/08 accounts.

The extent of this revenue shortfall is anticipated to result in an operating loss of around $300,000 arising primarily out of the club not achieving forecasted income targets.

Interim president John Ditchburn said the club was now working closely with the WAFC to ensure that the club’s financial and operational processes were being reviewed.

“This is obviously a very significant issue for the Peel Thunder Football Club however we are very confident that it will not impact on the club’s long term position within the West Australian Football League,” Mr Ditchburn said.

“Since 1997 Peel Thunder has made considerable improvement on the field and the past season was one of our best ever, capped off with Hayden Ballantyne becoming the club’s second Sandover medallist.

"Last year we had the highest growth in participation in the State of 28%."

Ditchburn said there were now nearly 9500 people playing football in the district.

“I would very much like to assure our players, supporters and sponsors that we intend to be around and a force to be reckoned with in the near future.”

Ditchburn said the Peel Thunder Board had already accepted the resignations of club president Mike Wilson and chief executive Cadell Buss.

The club is grateful for the short term financial and administrative assistance provided by the WAFC and is looking to consolidate its position over the coming weeks.

In the interim former Subiaco Football club chief executive Kim Williamson has agreed to take on the role of acting chief executive.

“The Peel Thunder Football Club has faced a number of challenges in its short history and our supporters can rest assured that we will be readying ourselves for the 2009 season and beyond," Ditchburn said.