The Western Bulldogs have posted a record profit on the back of winning the 2016 premiership
A DREAM premiership run has resulted in a monster profit for the Western Bulldogs. The Dogs have announced an operating profit of more than $3.5 million.
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WESTERN Bulldogs’ drought-breaking premiership season has been crowned by a record $3.64 million operating profit.
Only a $1.9m write-down from the club’s failed Edgwater pokies venture took the gloss off an otherwise perfect year at Whitten Oval.
The Dogs’ fairytale 2016 netted an AFL premiership, the VFL premiership, the women’s competition Hampson-Hardeman Cup and an inaugural licence in the AFLW starting next year.
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Profits under the Peter Gordon-led Bulldogs board are set to soar again next year thanks to a new stadium deal at the AFL-owned Etihad Stadium and the staging of a home game against Port Adelaide in Ballarat in August.
The club yesterday said a $1.9m impairment charge against the value of gaming entitlements acquired in 2009 at Edgewater had resulted in a statutory profit of $1.77m.
Total revenues climbed from $41.3m to $48.4m and net debt was slashed from $8.3m to $1.9m.
“We’re really proud of the progress our club has made over the past few years, in all areas both on and off the field,” chief executive Gary Kent said.
“Winning the 2016 AFL premiership was a significant contributor to our financial results, but we are also pleased that the club’s underlying business showed strong growth with commercial partnerships, membership, merchandise, fundraising and hospitality venues all performing strongly throughout the whole year.”
Kent also paid tribute to retiring Bulldogs vice-president Susan Alberti, a pioneer of the women’s league and club benefactor.
Membership hit a record 40,081 and is on track to be smashed again as the club embarks on its flag defence.
The Bulldogs will play two home games in Ballarat from 2018.
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