The staggering financial collapse of one of Canberra's largest soccer clubs has been laid bare, with liquidators revealing a devastating shortfall of more than $627,000.
A Crushing Debt Burden
In a sobering update to creditors just before Christmas, liquidator Eddie Senatore detailed that the now-defunct Gungahlin United Football Club owes a colossal $682,032.40. This stands in stark contrast to the club's meagre assets, which are estimated to be worth just $55,000.
The club's assets consist of $20,000 in bank funds and a further $35,000 in "plant and equipment" that is yet to be sold. This leaves a massive gap between what is owed and what is available to pay creditors. In a further blow, the estimated $25,000 fee for the liquidator's work is not included in the $627,000 shortfall, meaning the total financial hole is even deeper.
Who is Left Out of Pocket?
The list of creditors paints a picture of a club with widespread financial obligations. The single largest debt is a $184,451 bill for ground hire owed to the ACT government. The Australian Taxation Office is owed $110,000, while more than $50,000 is due in player deposits.
Many of those player deposits, often $600 per person, were paid by parents and players for the 2026 Capital Football season mere days before the club shockingly announced its closure on October 18, 2025. The club was officially wound up on November 25, 2025.
How much, if any, of these deposits will be returned remains profoundly unclear, with Senatore's report offering little hope of a meaningful payout for those at the back of the creditor queue.
Fallout and Failed Transparency
The closure sent shockwaves through Canberra's sporting community, displacing more than 2000 players. The club's former training and playing grounds have since been redistributed among other local clubs including Belnorth, Canberra Olympic, Canberra Juventus, Tigers FC, and Yarrabi FC.
The scale of the debt has also ignited criticism towards both Capital Football and the ACT government for a lack of transparency. The government initially refused a Freedom of Information request from The Canberra Times in March 2025 to disclose the size of Gungahlin United's debt, only reversing that decision in September.
Both bodies defended their decisions to keep the financial details confidential, a move that has left many in the community feeling kept in the dark about the true magnitude of the club's troubles until it was too late.
The final report from liquidator Eddie Senatore serves as a grim epitaph for Gungahlin United, highlighting the severe financial mismanagement that led to its demise and the lasting impact on Canberra's football landscape.
