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AFL Vic team finances

Discussion in 'General Discussion Forum' started by ManlyBacker, Jan 2, 2010.

  1. ManlyBacker

    ManlyBacker Winging it Staff Member

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    HERALD Sun journalist Ben Butler dives into Victorian AFL clubs' annual reports to assess all the figures. Who's in the black?

    RICHMOND

    Profit: $1.59 million
    Last year: $8 million
    Revenue: $31.6 million
    Employee costs: $16.4 million
    Membership income: undisclosed
    Marketing income: $13.5 million
    Gaming and social club income: $5.5 million

    HANDOUTS prop up the Tigers, who would have made an $84,000 loss if it were not for $1.675 million in government money towards the redevelopment of Punt Rd oval.

    And in a crisis the club would also not be able to count on $500,000 received from the Jack Dyer Foundation, which is earmarked for the project.


    GEELONG

    Profit: $650,800
    Last year: $52,600


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    Revenue: $40.8 million
    Football department costs: $17.2 million
    Membership income: $9.41 million
    Sponsorship income: $13.7 million
    Gaming, food and beverage income: $6.87 million


    PHOTOS of the Premiership Cup adorn the Cats' annual report, but while taking home the flag boosted the club's payment from the AFL to $7.9 million it has also caused some financial indigestion.

    Producing extra memorabilia left the club with a $1.16 million bill. Directors say they expect to overcome the deficiency in the next three months through membership and sponsorship sales.


    NORTH MELBOURNE

    Profit: $5.78 million
    Last year: $6 million
    Revenue: $29.4 million
    Football operations costs: $13.69 million
    Membership income: $4.65 million
    Sponsorship income: $5.6 million
    Gaming income: not disclosed

    THE Shinboners are another club dependent on government grants - take away the $5.9 million in Arden St redevelopment funding and operating profit was just $60,000.

    Current liabilities of $8.2 million far outstrip current assets of $4.4 million and auditors Grant Thornton say there is "a material uncertainty which may cast significant doubt" on the club's "ability to continue as a going concern" and pay its debts.


    COLLINGWOOD

    Profit: $594,000
    Last year: $3.27 million
    Revenue: $62.7 million
    Football expenses: $17 million
    Membership income: $9.58 million
    Sponsorship income: $15.1 million
    Social club and gaming income: $22.7 million

    COLLINGWOOD is under financial pressure, with profit slumping and $7.25 million in debt run up on its ill-fated hotel investments due to be paid off before the end of October 2010.

    The hotels are valued at $9.5 million and if the Magpies cannot sell them before the debt falls due the club faces a $4.4 million shortfall. Despite the problems with the hotels auditors KPMG have given Collingwood a clean bill of health.


    WESTERN BULLDOGS

    Profit: $3.21 million
    Last year: $3.18 million
    Revenue: $31.8 million
    Football department costs: $13.3 million
    Membership income: $4.84 million
    Sponsorship income: not disclosed
    Gaming income: not disclosed


    WITH $12.5 million owing to Westpac falling due this year, and just $5.6 million in current assets, the Bulldogs need either a loan extension or a big cash injection.

    Directors say the club depends on the continued support of the AFL. Take away $2.9 million in government money for the redevelopment of the Whitten Oval and the Bulldogs operating profit was $820,000.


    HAWTHORN

    Profit: $2.7 million
    Last year: $4 million
    Revenue: $40.5 million
    Employee and player expenses: $19.9 million
    Membership income: $7.3 million
    Marketing income: $13.2 million
    Gaming and bar income: $4.9 million


    WITH cash in the bank - about $6 million - and a miserly $214,000 in debt, the Hawks are a financial powerhouse.

    Unlike some clubs, they're not dependent on government handouts or AFL support, clawing in millions from memberships, marketing and hotel operations.

    This year the club agreed to pump $2.15 million into a joint venture with developers the Gauci Group that is developing pokies pub the West Waters Hotel in Caroline Springs.


    MELBOURNE

    Profit: $587,000
    Last year: loss of $549,000
    Revenue: $26.1 million
    Football department costs: $13.5 million
    Membership income: $4.2 million
    Marketing income: $6.8 million
    Gaming and social club income: $3 million

    THE Demons' financial position is even more hellish than it appears at first glance because the club's profit includes $567,000 raised as part of its "debt demolition" campaign.

    Counting only football operations the club made a wafer-thin profit of $20,000, and despite raising $3 million over the past two years to pay down debt it still carries liabilities worth $5 million.

    Directors Jim Stynes and Stuart Grimshaw say the Demons "still have a long way to go" and auditors Ernst & Young say there is "significant uncertainty" the club will "be able to pay its debts as and when they become due and payable".


    CARLTON

    Profit: $8.67 million
    Last year: $6.31 million
    Revenue: $34.1 million
    Football department costs: $16.1 million
    Membership income: $7.65 million
    Sponsorship income: $11.4 million
    Gaming income: $2.8 million

    WHILE their headline profit looks good, a $6.5 million shortfall projected for the coming year means the Blues are deep in red ink.

    They have also committed to find a further $2 million towards the redevelopment of Visy Park.

    Blowouts blamed on "design changes" have increased the cost of the project, a joint venture between Carlton, the AFL, and local, state and federal governments, from $17.7 million to $19.4 million.

    The project brought in $7.9 million in government grants this year, and without that money the operating profit would have been reduced to $750,000.


    ESSENDON

    Profit: $2.85 million
    Last year: $755,000
    Revenue: $41.3 million
    Football costs: $13.9 million
    Membership income: $6.4 million
    Marketing income: $11.2 millon
    Gaming income: not disclosed

    MERGING with the Melton Country Club has given the Bombers a windfall of about $2 million; excluding the one-off payment operating profit was a little better than last year, at $760,000.

    But the club's financial position would have been healthy in any case; it is debt-free and has banked about $1.9 million in cash.
     

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