The Adelaide Football Club has reported a cash operating profit of $3,432,052 for the 2017 financial year.
It equates to a significant year-on-year increase brought about by improvements across the organisation including membership, corporate sponsorship and hospitality, which all reached record levels, as well as strong on-field performances by both the men’s and women’s teams.
Ongoing growth has allowed full investment in the football program against industry parameters and a greater focus on community programs like the expansion of the flagship schools program, Growing with Gratitude, and Next Generation Academy.
Crows Chairman Rob Chapman said the Club’s healthy position was testament to the large, loyal and passionate fan base which continues to provide unwavering support.
“Every Crows Member and fan should be proud of what their Club has achieved both on and off the field in the past 12 months,” Chapman said.
“The AFL is a demanding industry and it takes a great deal of planning and hard work to achieve the progress experienced in recent years.”
Chapman summarised the Club’s impressive off-field performance in more detail at the Annual Members Meeting with his other key points including:
- Record membership of more than 80,000
- Record revenue of $54.9m which reflects a 13.7% increase year on year
- Profitable AFLW program in inaugural season
- Further growth of AFC Media and record digital engagement levels
- Home games judged to be AFL’s best stadium atmosphere
Taking into account non-cash items, such as depreciation, recognition of game development grant and distributions to other stakeholders, the Club’s statutory profit was $648,715.
There was also a focus on reducing debt which now stands at $1.21m following repayments totalling $753,241 in the past year.
Crows CEO Andrew Fagan said there would be a focus on growth, building non-traditional revenue streams and exploring new fan engagement opportunities in the coming year.
“It is an exciting time to be involved with the Club and the players, coaches and staff who work tirelessly to drive these outcomes deserve high praise,” he said.
