Essendon records $5.1 million profit for 2017 season — a $15 million turnaround on last year

ESSENDON has put four years of scandal behind it after recording a massive profit for the 2017 season. The Bombers’ financial result was fuelled by record membership, sponsorships and a surge in match returns and stadium revenues.

AFL Round 20. Carlton vs. Essendon at the MCG. Joe Daniher after Essendon's win. Picture: Alex Coppel.

ESSENDON has recorded a massive $5.1 million profit for the 2017 season — a $15 million turnaround on last year.

The Bombers’ financial result was fuelled by record membership, sponsorships and a surge in match returns and stadium revenues after four seasons marred by the drugs scandal.

Total revenues hit $65.2 million, up $11.7 million on last year.

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But club debt remains at $6.9 million, down from $9 million.

The Bombers lost $9.8 million in 2016, a deficit blamed largely on the Court of Arbitration for Sport guilty verdict against the Essendon 34.

The last of the club’s compensation settlements with past and present players caught up in the long-running drugs saga were finalised in September.

No wonder the Bombers are happy. Picture: Getty Images

Essendon chief executive Xavier Campbell said the result showed the club had closed the door on a difficult time in its history.

“This has been a year of progress from both a football and financial perspective, and we have witnessed pleasing increases across several key areas of our operations which directly impacted our bottom line,” Campbell said.

“Our exciting brand of football helped us achieve record membership of 67,768, increased match receipts with more than one million people attending Essendon games, and an increase in financial investment from our corporate partners and sponsors.

“On and off the field, the competition is more ruthless and competitive than ever, and we know we have to keep working harder and smarter and invest in the right areas of our club.

“We will increase investment in our men’s and women’s football programs, community programs, Next Generation academy zones and our people to ensure we make further progress toward our long term strategic objectives.”

Joe Daniher is a face of Essendon’s on-field resurgence. Picture: Alex Coppel.

The Bombers are also finalising plans for an extension of their Tullamarine headquarters.

“As a club we have never been more unified or as strong to rise to the challenge which awaits,” Campbell said.

The Bombers will kick off their 2018 season against Adelaide at Etihad Stadium on Friday, March 23.

A request to play one extra game at the MCG next year was rejected by the AFL.

Essendon will play seven games at Etihad Stadium and four at the ‘G.

The Bombers’ playing stocks were boosted in the trade period by the recruiting of Western Bulldogs forward Jake Stringer, Giants livewire Devon Smith and Gold Coast defender Adam Saad.