Essendon could clear its debts by end of 2018 in huge financial turnaround following drugs saga

AFTER falling $10.5 million in debt in 2016 following the supplements saga, Essendon is on the verge of clearing all its debts after another exceptional financial result that will see them reclaim a reputation as one of the AFL powerhouses.

Essendon could totally clear its debts by the end of the year. Picture: Michael Klein

ESSENDON could be debt-free by the end of the season after another exceptional financial result.

The greatest financial turnaround in AFL history will take another step when the Bombers announce an annual profit likely to replicate last year’s $5.1 million figure.

Two years ago — after announcing a $9.8 million 2016 loss following the club’s supplements saga — the Bombers were more than $10.5 million in debt.

FREE AGENT: BOMBERS OUT AS GAFF RACE IS DOWN TO TWO

DARCY PARISH: HOW TOUGH BREAK TURNED BOMBER AROUND

Their debt hovers at around $4 million, which could be cleared totally by year’s end.

Despite a season that has not yet matched their on-field expectations, the Bombers have again shown their capacity to reclaim their mantle as an AFL powerhouse.

The Bombers have averaged crowds of 47,356 at their home games this year, some poor crowds during a mid-season form slump accounting for a figure just down on last year’s 50,812 home average.

Essendon could totally clear its debts by the end of the year. Picture: Michael Klein

They have also increased their membership by 17 per cent, up to 79,319 (fourth in the AFL) from last year’s figure of 67,768.

“We have built a really strong foundation for the future this year,” chief commercial officer Justin Rodski said on Friday.

GARY BUCKENARA: VFL PLAYERS WHO COULD GET DRAFTED THIS YEAR

“The club is well positioned to invest in growth, has continued to pay down its debt and is about to enter an exciting period in the build-up to our 150th anniversary in 2021.”

The expected profit figure will allow the club to set itself up for the expansion of its Melbourne Airport facility, a $20 million build that will take in an Aboriginal and Torres Strait Islander sports hall of fame.

Essendon has averaged a crowd of 47,356 at home matches this year. Picture: Getty

The club met Federal government ministers in Canberra on Tuesday and is hopeful of securing state and federal funding within coming months before completing the facility by 2021.

The facility would also include improved training facilities for Paralympians, a function space and room for the club’s new E-Sports team.

Rodski said the Bombers were pushing hard to play Carlton at the MCG on Good Friday Eve next season.

“We see this as an opportunity to bring the Essendon and Carlton rivalry back to life on the big stage and create a stand-alone event in a timeslot that is not currently being utilised,” he said.

Watch every match of every round of the 2018 Toyota AFL Premiership Season. SIGN UP NOW >