THE global economic downturn and poor crowd attendances at two Brisbane Lions games this year have been blamed for an overall loss of $2.2 million by the club.

Despite an operating profit of $128,290 for the 2008 financial year, the club's shareholdings were battered by the global economic crunch, inflicting a "paper loss" that chairman Tony Kelly described as disappointing.

"Recording a financial loss is always disappointing, yet there would be few major organisations that have remained immune to the crunch in global markets and growing worldwide recession," he said.

The club, which finished 10th in 2008, revealed its financial woes a day after Port Adelaide announced a $2 million plunge in its finances.

Net losses from the sale of other shareholdings, together with poor crowds against Melbourne on the Anzac Day long weekend and North Melbourne in round 10, added to the Lions' financial deficit.

"We run an operationally tight ship year-in and year-out and because we invest in the long term, we hope the value of our shares will return over the longer term," Kelly said.

He said new memberships and member renewals were slightly up compared to the same time last year, boosted by early sign-up packages that guarantee access to grand final tickets if the club is playing.

The club is also offering new three-game membership packages, once all full-season membership sales have been taken up.

After 10 years and three premierships under Leigh Matthews, Kelly said the Lions are "the real 'X-factor' team" next year under Michael Voss and captain Jonathan Brown.