The departure of Mick Malthouse might offer temporary relief to frustrated Carlton fans, but it is also likely to push the club deeper into the red this financial year.

Malthouse reportedly earned $1 million a year, which means under his contract he will be paid out more than $500,000 after receiving the boot from the Carlton board.

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Although Carlton CEO Steven Trigg said the sacking would result in “no significant financial impost” on the club’s books, it’s an extra cost Carlton could do without.

Sparse crowds and flagging revenue from its pokies venues are set to propel the club to another big financial loss in 2015.

While Carlton Social Club is known in Melbourne as a popular weekend retreat for Collins Street bankers and lawyers, its balance sheet has come under renewed pressure in the last 18 months.

Carlton posted a net loss of $1.6 million in 2014 and is potentially facing an even bigger hit this season.

Apart from its on-field woes, Carlton’s entry into the Victorian pokies market under former president Stephen Kernahan appears to be backfiring.

According to returns filed with the gaming regulator, Carlton’s pokies venues suffered revenue declines in the six months to the end of December.

The club is now on a business trajectory that looks unsustainable.