Bigger business base saves Crows from hit on balance sheet after taking dip on footy field

Despite tumbling from grand finalist in 2017 to 12th last year, the Adelaide Football Club’s growing business model ensured the Crows returned another profit.

Despite poor results on the AFL fields last season, Adelaide Football Club chairman Rob Chapman and chief executive Andrew Fagan, were able to report a profit for the fourth consecutive year. Picture: Sarah Reed.

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Not even a hit on the AFL fields last year dented the Adelaide Football Club’s financial books that - have record a fourth consecutive operating profit.

The Crows last night reported a record operating profit of $3,828,935 — and announced the club was clear of the $1.2 million on the books from the start of the 2018 AFL season.

This follows the Crows lifting revenue streams to a record $56.06 million despite a $450,000 hit on 2017 figures for not playing top-eight finals last season. The club significantly added $1 million to this revenue base with a record membership count.

Adelaide’ statutory profit was $1,506,002, up on the 2017 count of $648,715.

Adelaide Football Club chief executive Andrew Fagan last night noted the Crows had delivered four consecutive years of strong financial results to be positioned ahead of its own expectations off the field.

But Fagan — and club chairman Rob Chapman — emphasised the Crows’ strong off-field performance would ensure stronger on-field results in the ultra-competitive 18-team national competition.

“I am confident that we have both an operating model, as well as the quality of people, to support our pursuit of sustained success both on and off the field,” Fagan said.

Adelaide’s financial success is a significant statement on the success of the growing business model at West Lakes where the Crows have added baseball, Esports, AFLW and an expanding media operation working beyond sport.

“It’s big business,” club chairman Rob Chapman told the club’s members at an information session at Adelaide Oval last night.

“We continue to invest in exploring and growing non-traditional revenue streams and improving our capability across the entire organisation.

“It should also be said that our unwavering focus is always on winning football games and ensuring our players, coaches and high-performance team have the resources to fulfil their potential and our shared ambition.”

Adelaide’s “big business” model has made the Crows’ financial books less vulnerable to poor results on the field, such as last year’s fall from the 2017 minor premiership and grand final to 12th.

Adelaide’s operating profits in the past four years have been $3.83m (2018), $3.432m (2017), $1.464m (2016) and $1.49m (2015). The club’s last operating loss was $408,000 in 2014 when the Crows absorbed extraordinary costs with the move from Football Park to Adelaide Oval.

The Crows last night also announced the members-endorsed addition to the Adelaide Football Club board. Lawyer Kym Ryder won the members’ vote for a two-year term as a director, beating two other candidates Daniel Kiley and Paul Edginton.

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