Collingwood’s big year reaps massive profit
Collingwood’s status as an AFL financial powerhouse has returned with the beaten Grand Finalists recording a massive profit on the back of an impressive set of numbers.
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Collingwood’s status as an AFL financial powerhouse has returned with the beaten Grand Finalists recording a $4.17 million profit this year.
The Pies turned around 2017’s net operating loss of $2,732,624 to record an official net operating profit of $112,052.
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Over $4 million of depreciation relating to the club’s Holden Centre facilities affected the bottom line, but the Pies are again recording an impressive set of numbers.
The club generated $82,074,011 of revenue - up nearly $5 million on the previous year - had a membership figure of 75,736 and had an average home attendance of 50,572.
Pies chief executive Mark Anderson said a “recalibration” of the club’s businesses after the 2017 review had played a part in the improved figures.
“We do not exist to make profits, but our strong financial position enables us to deliver excellence on the field and court, to provide elite facilities and programs for our teams, to offer rich experiences to our members and to invest and have a positive impact in our community,’’ he said.
BULLDOGS chief executive Peter Gordon says the club is effectively debt-free as it eyes ambitious plans to continue developing the Whitten Oval precinct.
The Dogs announced an amazing profit of $18.094 million this week, aided by the valuing of a parcel of land handed to the club by the state government in the precinct.
As part of their business plan the Dogs carry some debt but have $7.9 million of cash reserves to cover it and will soon sell off all of their gaming machines.
The Dogs will have to cover $1.6 million in annual profits from the gaming machines but believe they can create commercial opportunities in the Whitten Oval precinct to continue returning profits.
The club will soon announce the details of a master plan for the Western Oval precinct which contains the Whitten Oval.
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