Don McLardy has quit as president of AFL club Melbourne, citing business pressures in announcing his decision on Friday.

The Demons, who have a 1-10 record in 2013 and have refused to guarantee coach Mark Neeld’s future for the rest of the season, made a submission to the AFL Commission on Friday seeking extra funding and assistance.

“At a meeting of the board this afternoon, I formally advised my fellow board members that I was standing down as president of the club and resigning as a director effective immediately,” McLardy said in a letter to members on the club’s website.

“There are two main reasons for this difficult decision. From a personal perspective, the imminent partial sale of my business, the success of which depends on the next 12 months performance, means I cannot continue to dedicate the time and effort required to what is an extremely challenging role.

“However, just as important is the recognition that our club as a whole is not performing as we expected, and as explained in my president’s speech on Monday change is required and members deserve to see a clear path forward for our club with new leadership, direction and energy as soon as possible.”

McLardy has been involved in a public slanging match with former Hawthorn president Jeff Kennett. The ex-Victorian premier has flagged his interest in replacing McLardy.

Melbourne’s poor form is having a negative effect on the entire league, the club’s chief executive Peter Jackson said on Friday.

“It’s a package of things we’ve asked for. It does involve developing our list,” Jackson said after a meeting with the AFL Commission.

“But it also involves restructuring the club.

“We got a good feeling from in there. It was positive.

“They understand the impact we’re having on the whole competition at the moment.”