Bulldogs announce loss of $6,051,332 due to child sex abuse case prior to appeal

The status of the Western Bulldogs’ 2023 financial result won’t be finalised until the outcome of an appeal over a multimillion-dollar compensation payout to child sex abuse survivor Adam Kneale.

The status of the Western Bulldogs’ 2023 financial result won’t be finalised until the outcome of a club appeal over a landmark multimillion-dollar compensation payout to child sex abuse survivor Adam Kneale.

The Bulldogs will appeal this month’s Supreme Court jury verdict, which saw the club hit with a damage payout of $5,943,151, the largest awarded to an abuse survivor in Australia.

A jury found that the club – then known as Footscray – had been negligent in failing to stop volunteer Graeme Hobbs abusing Kneale between 1984 and 1990.

The Bulldogs announced on Monday that its 2023 financial statement included a loss from operations of $6,051,332, which comprised the judgement of damages as well as the legal costs from the club as well as from Adam Kneale.

Adam Kneale. Picture: Josie Hayden

Prior to that, the club’s underlying profit had been $1,379,158, before the legal judgement and associated costs.

The Bulldogs’ 2023 financial report said the club “intended to appeal this judgement, with any financial adjustment to the judgement arising from a successful appeal to be recognised as a change in estimate in subsequent years.”

The club said the 2023 financial year had seen a total profit of $26,275,951, which included a surplus from redevelopment activities of $32,327,283.

As the report said: “This accounts for the significant grants the club has secured in support of our ongoing redevelopment efforts. All qualifying redevelopment expenditure has been capitalised to the Club’s balance sheet as work in progress.”

Bulldogs CEO Ameet Bains. Picture: NCA NewsWire / David Crosling

Bulldogs chief executive Ameet Bains said: “Despite some challenges throughout this financial year, the club worked hard to maintain a position of financial strength that has been built up over the last decade.”

“The redevelopment of the Whitten Oval precinct is a tangible example of the progression we’ve made, and we have been buoyed by the return of matches over the last few months, as well as the completion of several high-performance facilities.”

“Next year will see the reopening of the Whitten Stand and all it contains, which will be a truly significant milestone as we welcome our Bulldogs family and the wider community back to our home base.

“Despite the significant disappointment of not playing in the finals in the AFL and AFLW competitions, we achieved another year of record membership, with more than 56,000 Bulldogs supporters committing to the Club.

“We are bullish about our prospects for 2024, on and off the field, and we’re excited to share that journey with our members and fans.”

Originally published as Bulldogs announce loss of $6,051,332 due to child sex abuse case prior to appeal