On 28 June 1996, the Nauru Insurance Company, a creditor of the Fitzroy Football Club, appointed Michael Brennan to administer the affairs of the Fitzroy Football Club to ensure a loan of A$1.25 million was to be repaid. During the 1996 season, there were fears that the club would collapse in mid-season due to its lack of cash. This was averted when the AFL guaranteed funds to Fitzroy to allow the club to continue in the competition for the remainder of 1996.