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Mradul Sharma

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  • Published: Jun 17 2025 12:01 PM
  • Last Updated: Jun 17 2025 12:04 PM

AFL legend Warren Tredrea uses a surprising IOU method to settle a $200K debt with Channel 9, raising legal questions and boardroom tensions.


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I feel like this is one of those news moments that’s just so bizarre, you read it and say, “Did that really happen?” Ex-football champ Warren Tredrea, now a Port Adelaide board member, is in the spotlight again—this time not for his kicking or goals, but for a strange legal fight and wild ideas that few saw coming.

This odd legal move that’s got everyone talking

When you think of someone who owes money, you probably think they will pay money. Well, Tredrea is doing something else altogether. He says to Australia’s Federal Court that he paid back Channel 9, but not with money, and not with coins. He sent a “promissory note,” an IOU letter, claiming that, since there are no coins made from precious metals in Australia, there are no real money to pay with legally. And since Nine didn’t reject it within 72 hours, he claims the debt was settled.

He even called himself a “private man”, not a legal person/law entity, claiming that he is not subject to standard money laws. This sounds like an action movie plot twist, but it’s happening right now, and the implications for the case could matter for legal norms.

  • In his filing to the court, he made a strong statement, saying, My yes be yes, my no be no. 
  • Channel 9 is saying this is “misguided, disingenuous. ” 

It is like he is probing the hardest edges of legal systems—and frankly it is both confusing and kind of intriguing. Like, does it hold water? The court is directing both sides to file written arguments with the Full Court.

Why this legal stunt carries real risk

At first, it looks like he is just engaging in some sovereign citizen nonsense, but some serious things are at stake:

  • He has already lost two substantial lawsuits; his $5.77 million wrongful dismissal action and the appeal. The court wants him to pay over $100K - $200K in legal costs to Channel 9.
  • If the private man argument fails, he may face larger consequences, being fined or ordered to pay right away.
  • Even worse, it may do long-term damage not just to himself, but also the image of Port Adelaide that has been built on respect and collaboration.

It honestly seems like gambling. He is betting his reputation, and if he losess then he is left with nothing - either paying up, or continuing to fight. Not to mention the fact, this is not going to die down, as every minute there is a new headline flashing about this ridiculous theory.

Boardroom blowback and social sparks

It’s not only the legal world buzzing about mate. Inside Port Adelaide's board, insiders are suggesting there is a quiet tension over Tredrea's ideologies -  from political beliefs to conspiracy-like ideas. Some are happy for him to push the boundaries…but for others it's a distraction from Port's goal. 

7NEWS Adelaide posted a video saying "They were trying to bankrupt me, and that is what they are trying to do now," 

It's crazy the way this emotion is playing out - almost as though he feels attacked and cornered. And maybe some fans are more inclined to support him, while others are labelling him as grandstanding.

What most people aren’t covering yet

Alright, now here is where things get fresh - things that nobody else is really covering:

  • He sacked his very first lawyer after the appeal. That is serious - if you are employing a new lawyer mid-fight, it must mean he is pretty serious about doubling down on his theories.
  • Board Transparency: Word is that he might try and have Port Adelaide open some board meetings to the public - or at least be fully reported. This may well change the dynamics for footy clubs, and the ways in which they operate behind closed doors.
  • Phone Apps: He may be involved in working to create a blockchain based phone app that will issue IOUs, in not only court, but also perhaps for club expenses, and projects for a club / community. Early days, but that sort of conversation from a footy legend is, how do you say???? Quite unexpected.

Why this matters to you and the game

  • Legal systems tested: If courts accept his argument, it could open a weird new legal door for others.
  • Public trust: Fans expect board members to represent unity and game passion—not courtroom games.
  • Legacy at risk: Warren Tredrea is an AFL legend. Goals, premierships, hall of fame—it all counts for a legacy. But this weird fight could overshadow his football story.

Losing football glory is one thing, but losing public trust—and fans—over legal stunts? That packs more emotional punch.

Bullet points to hold onto:

  • Tredrea lost $5.77M case, appeal failed.

  • Owes $100K–200K to Channel 9.

  • Sent IOU, claims “private man” status.

  • Court now considering arguments from both sides.

  • Board tensions inside Port Adelaide over his actions.

  • Rumour he’s dropped his lawyer mid-battle.

  • Working on app/blockchain IOUs.

  • Public mostly shocked, divided—and meme-ing.

FAQ

He said he sent an IOU “promissory note” instead of cash, because Australia doesn’t use gold or silver coins anymore.

It’s uncommon—experts call it fringe sovereign theory. Courts typically require ordinary currency.

Between $100,000 and $200,000 in legal costs after losing his appeal.

He claims to have discharged the debt via IOU. Channel 9 denies accepting that.

His social and legal actions are said to distract from the club’s focus and unity.

Yes, this is the first public time he's used sovereign-style arguments in court.

It’s a written promise to pay money later. Usually not accepted in place of court-ordered payments.

Both Tredrea and Channel 9 must submit detailed written arguments before the Full Court decides.

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