Netball Australia continues to claw back from brink of financial disaster with another surplus, Liz Ellis reappointed as chair

Netball Australia’s path to financial health has ticked another box, producing a third consecutive surplus, their largest in over a decade. And crowds are up.

Netball Australia has continued its climb back to financial health, announcing a third consecutive surplus, as well as paying more than a million dollars off its debt in a stunning result announced at Tuesday night’s annual general meeting.

Issued a “going concern” notice by auditors just three years ago, NA was able to announce a surplus of $650,883 – the largest in more than a decade – as well as the repayment of $1.2m of debt.

While surpluses have been recorded in the past two years, there had been no repayments made on outstanding debt.

But on the back of record crowds for Super Netball and Diamonds matches, growth in broadcast numbers and strengthened commercial partnerships, NA’s balance sheet continues to improve.

Record crowds have boosted NA’s balance sheet. Picture: Russell Freeman/Getty Images

While initial plans had been to pay off the remaining loan amount of $3m by August this year, NA has prioritised investment in the game under its new strategic plan – yet to be released to the public – with full repayment of the loan now delayed until 2027.

Chief executive Stacey West said the decision to invest had been made to fast-track growth and lock in financial stability.

Netball Australia CEO Stacey West speaking to media at the Suncorp Super Netball season launch. Picture: Matt King/Getty Images for Super Netball

“While we continue to strengthen our balance sheet, we will pay down debt and we will invest in the future - both things at once,” West said.

“We’ve got big plans. The SSN (Super Netball) 2.0 project, we’ve got our strategic 10-year plan.

“We want to make sure we make good strategic choices for the sport as we lead into the World Cup in 2027 and put ourselves in the best position to really take advantage of that World Cup and we need to invest in the game to do that.

“It’s the right position for right now.”

The strong result came off the back of a 50 per cent increase in ticket sales for Diamonds events, ticket sales and the sell-out Suncorp Super Netball finals and grand final.

The 2024 season was up 18 per cent year on year, with an average audience of 57,000 per match, while the total of 366,222 spectators across fixture rounds and finals made it the most attended women’s sporting league in Australian history.

A 50% increase in ticket sales has played a major factor. Picture: Daniel Pockett/Getty Images

The 366,222 spectators across fixture rounds and finals was any women’s sporting league in Australian history. Picture: Maya Thompson/Getty Images

“Netball Australia’s media rights agreement with Fox Sports Australia and the partnership remains the cornerstone of netball’s growth and visibility,” West said.

“This partnership is instrumental in elevating the sport by delivering world class coverage to fans.”

The AGM also marked the end of former chair Wendy Archer’s tenure as she stepped down from a board she led through a period of turmoil during the Hancock Prospecting sponsorship saga and a poisonous and protracted pay war with players.

Two new directors with ASX company experience have joined the board for the next three years.

Experienced financial services and insurance industry executive Vivek Bhatia, commences a three-year term as an appointed director, while non-executive director, advisor and C-suite executive Lousie Eyres has been elected as a director for the next three years.

Liz Ellis has been reappointed as chair for her second year, with Gabbi Stubbs deputy chair.

Originally published as Netball Australia continues to claw back from brink of financial disaster with another surplus, Liz Ellis reappointed as chair