Richmond record huge $4.21 million net profit for 2018

Richmond has leveraged off its drought-breaking premiership last year to record a monster profit of more than $4 million for 2018 on the back of record membership, sponsorship and huge attendance figures.

Richmond has recorded a huge profit for 2018. Picture: Getty

Richmond has leveraged off its drought-breaking premiership last year to record a monster profit for 2018.

The Tigers underlined their reputation as one of the AFL’s powerhouse clubs by recording an operating profit of $5.54 million (before amortisation and depreciation) and a net profit of $4.21 million.

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The 2017 premiers became the first club in AFL history to reach 100,000 members this year, which contributed to the strong financial result. The Tigers ended the year with 101,562 paid-up members.

“While the 2018 season didn’t deliver a premiership, everyone at the club is committed to taking us there again in 2019,” president Peggy O’Neal said.

Richmond has recorded a huge profit for 2018. Picture: Getty

“We will continue to give our players and coaches every support in achieving this ambition.

“Richmond members and supporters are now without question the most loyal, passionate fans in the AFL, and we thank you for the strength you give us both on and off the field.”

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Richmond generated a total revenue of $79.8 million, an increase of $14.6 million on the back of record membership, sponsorship and attendance.

The Tigers topped the AFL’s crowd figures leaderboard this year, averaging 61,175 fans at home games and were ranked No.1 for total home-and-away crowds with 1.19 million.

The strong off-field performance, led by O’Neal, means the club remains debt-free.

Richmond secured over 100,000 members this year.

“All of this leaves the club in a very sound financial position and we will continue to manage operations and evaluate opportunities sensibly to underpin this position long term,” O’Neal wrote in the financial report.

“We remain debt-free with cash reserves of $13.7 million.”

Richmond has already been installed as premiership favourites for next year after securing the biggest free agent available, Tom Lynch.

The former Gold Coast co-captain started training with his new teammates at Punt Rd this week as the club’s first-to-fourth-year players returned for pre-season.

The full squad is due to return on December 3.