AFL 2023: Essendon records financial loss after big football spend

Essendon’s players endured a challenging end to the season, but the club has also revealed difficulties off the field.

Essendon recorded a financial loss of more than half a million dollars during the 2022-23 financial year. Picture: Dylan Burns / Getty Images

Big-spending Essendon has recorded a loss of more than half a million dollars for the 2023 season but remains debt free after a period of significant off-field overhaul.

The Bombers released their annual financial report on Friday, saying a hike in football department spending and a freeze on membership prices were factors in an operating loss of $579,777 for the year ending October 31.

Essendon chief executive Craig Vozzo said the club had been through a “significant reset” and was “well placed for growth as a business” after avoiding taking on any debt.

The sweeping changes to Essendon’s football department during the financial year included the departure of football boss Josh Mahoney in August, while the club parted ways with VFL coach Leigh Tudor and restructured the leadership of its men’s and women’s teams, with Daniel McPherson and Alysha Ward taking over the respective programs.

Essendon has dramatically overhauled its football department since the appointment of new senior coach Brad Scott last year. Picture: Mark Stewart

The Bombers’ payments to suppliers, employees and players increased by more than $8m on the last financial year according to the annual report.

“Importantly, we remain financially independent and bank-debt free,” Vozzo said.

“The economic environment has been challenging, with inflationary pressure increasing our club expenditure. Positively, the strength of our members and supporters saw record crowds at our games in 2023, which lead to a significant increase in match receipts.”

Vozzo hinted the Bombers’ membership price freeze would end in 2024 as he rallied supporters to join the “next period of growth”.

Coach Brad Scott with Essendon president David Barham. Picture: Robert Cianflone / Getty Images

The club still recorded an $11.7m increase in payments from members, sponsors, supporters and other operations over the financial year.

“The club implemented a membership prize freeze off the back of the 2022 season which was both appropriate and has financially benefited members during the year, but this price freeze did negatively impact our net financial membership position from a year-on-year perspective,” he said.

“Our next period of growth must be built on the foundations of stability and alignment and our drive to bring success back to Essendon.

“This extends across the whole club, and we are excited about the hard work and opportunity ahead of us.”

The Bombers will hold their AGM at The Hangar on December 18.

Originally published as AFL 2023: Essendon records financial loss after big football spend