This result is after payment of the annual sub licence fee ($619,000) and a contribution to the AAMI Stadium Northern Grandstand ($600,000); and is reported prior to a depreciation provision of $996,628 - resulting in a net deficit of $610,942.
The Club’s net assets at the close of the 2011 financial year total $18.6m.
Crows CEO Steven Trigg said of the result:
“In light of what was a sub-standard season on field, our crowds, membership and sponsorship revenue held up well. But finding significant revenue growth in a season of high injury payments and a heavy depreciation schedule proved to be difficult.”
Adelaide’s membership number totalled 44,716 for the year, and its average crowd was 35,020, down marginally on the 2010 figure of 35,766.
Adelaide Chairman Rob Chapman added:
“Our sponsorship and membership support were outstanding in a tough year. The executive team have managed expenses extraordinarily well, and there is a real and strong confidence that this result, in the Club’s most disappointing season, can and will be improved on in the coming years.
“In the meantime, our Club’s financial contribution to the football economy in this State continues to be profound!”
