Sturt posts fifth straight profit in 2018 as club begins 2019 with new Unley Oval development
New changerooms, record membership and a fifth-straight profit. While last year may not have finished the way Sturt wanted, the club is in better off-field shape than it has been for a long time.
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New changerooms, record membership and a fifth-straight profit.
While last year may not have finished the way Sturt wanted, with a straight-sets men’s finals exit, the club is in better off-field shape than it has been for a long time.
The Double Blues last week released their annual report, showing a $683,000 profit for 2018.
Sturt also boasts a club record number of members with 4085 and has completed stage one of a $4.9 million redevelopment of its Unley Oval base, including new men’s and women’s changerooms, a gym and medical area.
The club’s profit included $275,000 from the SANFL’s annual distribution of funds from the sale of Football Park and more than $350,000 in funds raised for the oval project.
“It’s our fifth successive operating surplus so we’re pleased,” Sturt general manager Sue Dewing said.
“We are managing our finances a lot better than we previously did.
“Our bank debt is now under $1 million and we still managed to fund our portion of the ‘Building the Blues’ project.”
It was only six years ago that Sturt had a debt of $2 million and was languishing at the bottom of the ladder amid concerns the club might have to shut its doors.
But changes in leadership, reigning in spending and two premierships has helped to turn things around.
Dewing said the club was happy with its financial stability but was still looking for new revenue streams and ways to attract members.
She hoped the new female change rooms and growth of women’s football would bolster the club’s position.
Sturt is also in discussions with Unley Council about the second stage of its home ground’s redevelopment – a community hub above the Jack Oatey Grandstand.
“We’re always looking for new streams of revenue because it’s a tough market out there,” said Dewing, noting the club’s licensed venue, BarZaar, traded above budget.
“Traditionally, clubs relied heavily on gaming, which is now down due to many factors.
“We’ve brought the management of merchandise into the club, which was successful.
“But we also need to make sure we can improve or retain our sponsorship and member numbers.
“We’re keeping an eye on the demographic and trying to reduce the age of our members.
“That means focusing on children and young families because that’s our next generation of Sturt supporters.”
The Double Blues will be looking to improve their on-field fortunes in 2019.
Their men finished third on the ladder last year before losing consecutive finals, while their women were fifth in their inaugural season.
patrick.keam@news.com.au