The Adelaide Football Club continues to strengthen its financial footing as a bold and ambitious plan to build a new state-of-the-art headquarters gains momentum.
The Crows recorded a comprehensive profit of $1.072m (cash operating profit of $3.122m) for the AFL financial year ending October 31, 2023, which was underpinned by strong revenue growth and resolute support from members and supporters, and corporate and hospitality partners.
Strategic investments were also made in key areas, such as resources, systems and technology, to help facilitate the next phase of the Club’s growth agenda. Key factors behind the strong financial performance include:
- Revenue uplift of 4.6 percent to $57,553,099
- Debt free position
- Membership increased 8.6 percent to an all-time record of 68,536
- Average home game attendance rose by 27 percent to 39,376
- Full investment in both men’s and women’s football programs
Crows Chairman John Olsen addressed supporters at the Annual Members Meeting, stating the Club had established a foundation for future success, both on and off the field.
“Firstly, I would like to thank and give credit to our members, who despite the challenging economic times and cost of living pressures in our community, continue to support the Club with dedication and enthusiasm,” Olsen said.
“They deserve consistent on-field success from our men’s and women’s teams and that’s what we’re striving to deliver, and we are always searching for ways to forge an even stronger connection with you too.
“To our major sponsor Toyota, along with principal partner Hungry Jack’s and many other corporate and hospitality partners, we greatly appreciate your contribution. Our Club wouldn’t be what it is today without your commitment.
“We are embarking upon the biggest undertaking in the Club’s history – building a $100m training, administration and community facility – and we have always stated we must do so without threatening our long-term viability.
“Importantly, ongoing growth has also allowed us to fully invest in our football programs against the industry parameters.”
In conjunction with the Adelaide Crows Foundation, the Club invested in health, education and First Nations programs across South Australia, and positively impacted over 20,000 youth.
Crows CEO Tim Silvers said the Executive team and staff were delivering on an ambitious and clearly defined 5-year strategy named Earn the Pride, and this year’s fixture had multiple marquee time slots which presented fresh opportunities.
“We’re well positioned because we have built a strong foundation but know there is still so much to do, and this has been a key driver for the coaches and players who have done the hard yards over summer,” Silvers said.
“Our members invest both emotionally and financially in the Club and it is a fact not lost on anyone who turns up for work here each day. We are all desperate for success.”
