Glenelg Football Club on track after revealing $247,000 profit in 2018 annual report
A third consecutive profit has Glenelg Football Club on the road to recovery – three years after fighting for survival when it was $3.2 million in debt.
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A third consecutive profit has Glenelg Football Club on the road to recovery, president Nick Chigwidden says.
The Tigers were fighting for survival three years ago when they were $3.2 million in debt, coming off four straight financial losses and there were concerns they might not be able to field a team in 2017 if they did not turn around their situation.
But Glenelg has since reported surpluses of $14,000 (2016), $681,000 (2017) and $247,000 (2018), and slashed its debt to $2.5 million – $1.7 million owed to Holdfast Bay Council and $859,000 to ANZ Bank.
Chigwidden said the club had been able to find stability within its business and improved on the field.
The Tigers’ men rose from back-to-back wooden spoons in 2013 and 2014, and ninth in 2015, to sixth last year, when they won their final six games.
Their women’s team finished bottom in 2018 with just one victory.
“It was a really positive result (last year) – a third straight profit which is good,” said Chigwidden, also the club’s longest serving captain.
“Our cash profit, which is what we look at and doesn’t include the dividend, was $157,000.
“It’s still a challenge.
“We get great support from the City of Holdfast Bay with interest relief from our loan with them.
“Our bistro is going well … and the second half of last year footy-wise was fantastic.”
The Tigers wiped $275,000 from their debt last year via the annual payments to SANFL clubs from the sale of Football Park.
Glenelg’s gaming revenue dropped 7.5 per cent ($97,000) but kitchen sales went up 12 per cent ($115,000) and bar sales rose by $12,000.
Most concerning was a $20,000 decline in membership income and a drop in home attendances – from an average of 2623 in 2017 to 2059 last year.
“Crowd and membership levels continue to be major challenges for all clubs across the competition,” Chigwidden said.
“If you look at the end of the 2017 season, we lost three of our last five and missed finals. “Then (coach) Mark Stone didn’t come on until January, so we were slow starting as well, and that undoubtedly affects crowds and membership.
“I’ve got no doubt if we continue to improve on-field the crowds will improve with it.”
Chigwidden said the club was optimistic about season 2019.
“Coming into this season we’re more on an upward swing and there’s a mood of optimism and anticipation around the club,” he said.
“We’ve been able to retain the majority of our playing group and add a few recruits.
“I think there’s plenty for Glenelg fans to be excited about.”
patrick.keam@news.com.au
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