With a cashed up MCC, a famous stand at The ’G could be in line for an upgrade

Bumper AFL crowds and Taylor Swift’s record-breaking trio of concerts at the MCG have led to a bumper financial performance for the Melbourne Cricket Club in the past year, paving the way for potential improvements to the world renowned venue.

The result, published in the MCC’s annual report on Thursday, meant the club could pay down the remaining debt on the redevelopment of the Northern Stand two years early.

The MCG during round one of the AFL season in March.Credit: AFL Photos

The robust financial position means the club was debt-free and could turn its attention to plans for the redevelopment of the ageing Shane Warne Stand, although no decisions had been made about how that would proceed.

The club posted a net profit of $32.1 million for the year to the end of March after paying down the last $37 million in debt it owed for the Northern Stand.

MCC chief executive Stuart Fox said AFL attendance “smashed” previous records with 3.32 million fans attending AFL and VFL football at the MCG in 2023.

Fox singled out Swift’s sold-out concerts as a highlight of the year, noting it took the record for the highest attendance at a concert series at the venue.

Insatiable demand for Taylor Swift tickets prompted the US superstar to announce a third show at the MCG in February.Credit: Invision

“These shows, 18 months in the making, delivered beyond expectations,” Fox said.

Fox highlighted the ongoing work around the precinct including on a Yarra Park masterplan and for redevelopment of the Shane Warne stand.

The club had undertaken a feasibility study of the stand redevelopment but work was “ongoing with no determinations made yet”.

The MCC runs the stadium in an arrangement overseen by the Victorian government’s Melbourne Cricket Ground Trust.

The stand was regarded as being at the end of its life, and there were concerns about its accessibility and amenity.

Any redevelopment required co-operation and co-ordination between the MCC, state government and major sports, including the AFL and Cricket Australia.

In a statement, MCC president Fred Oldfield told The Age that retiring the Northern Stand debt was a significant milestone but that the “cost of running and maintaining the MCG remains high”.

“The stadium is an ageing asset, so we must continue to reinvest in the venue to ensure the MCG continues to be a world-class global venue,” he said.

“In collaboration with the state government and the MCG Trust, the club has developed a business case to explore various options for the future of the Shane Warne Stand.

“Our current financial position now allows us to potentially contribute to further stadium improvements and possible stand redevelopments.”

Premier Jacinta Allan declined to comment on what contribution the state would make to any redevelopment of the stand.

Waiting list update

In the annual report, Fox said there were now 63,805 full members of the MCC taking nominations up to September 1992.

There were 43,230 restricted members including nominations up to the end of 1998, while provisional members numbered 50,354 and include nominations up to November 2006.

The waiting list for would-be members has stretched to 188,608.

With a deal for the future of the Boxing Day Test still under negotiation with Cricket Australia and the Victorian government, the MCC noted 165,000 fans attended last year’s rain-affected match with Pakistan.

Total cricket attendances for the summer sat at 268,859, with Big Bash League games and a one-day international against the West Indies drawing relatively modest numbers.

Revenue jumped to $199 million from $163 million the previous year as event revenue lifted $14 million largely on the back of the increase AFL income.

Membership income rose $11.4 million thanks to inflation-linked fee increases and an end to COVID-era discounts.

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