Geelong Football Club turns a net profit of $760K over the past financial year

The Cats have seen a 10 per cent increase in membership and ticketing revenue over the past financial year as it plans to build new AFLW facilities, a new financial report reveals.

Geelong recorded a $760,000 net profit over the past financial year on the back of a 10 per cent increase in membership and ticketing revenue.

The Cats reaped a net profit of $760,829 at the end of the financial year to October 31, and an extra $4m in total revenue, underpinned by premiership success, strong attendances at home games and growth from “non-traditional revenues”, a 2023 financial statements report reveals.

However, it was a drop on last year’s net profit of $1.63m.

Geelong, which remains debt free with no direct revenues from gambling or gaming, increased its revenue from membership and ticketing from $19.6m to $21.6m with 82,155 members of August 31.

The club gained an extra 10,000 members this year.

The Cats, which has a goal of 100,000 members by 2025, has $6.2m in cash as of October 31.

Geelong president Craig Drummond with chief executive Steve Hocking at GMHBA Stadium. Picture: Aaron Francis/The Australian

The figures come as the Cats launched a three-year business plan in 2022 with an aim “to chase greatness, be unstoppable and unmistakably Geelong”.

“The board and management continues to focus on strengthening the club balance sheet to ensure the long-term sustainability of the football club, and proudly the club continues to have no direct revenues from all forms of gambling and gaming,” the report revealed.

“The club’s vision for GMHBA Stadium is to provide our members, supporters and players with the very best possible facility and for the stadium to be used for other sports and events which will in turn greatly benefit the Geelong community.

“The club continues to make significant investments into a range of assets and capital projects to ensure the long-term future of the club.”

The club launched a sports medicine business at its health and fitness centre, 10 South, this year.

In a statement on the club’s website, Geelong chief operating officer Simon Kelleher thanked its supporters for their ongoing commitment.

“Being a member is an emotional and financial investment and we do not take it for granted,” Kelleher said.

The club will also deliver a fit for purpose AFLW locker room in 2024 to ensure “equitable facilities”, he said.

Originally published as Geelong Football Club turns a net profit of $760K over the past financial year