MELBOURNE Football Club has reported a profit of $1,363,060 for the year ending 31 October 2017.
This is the Club’s fourth consecutive profit under the Board led by Glen Bartlett and CEO Peter Jackson.
The result allowed the Club to continue to repay debt, which reduced by $1.353m during the year, as well as invest further into its football program.
Melbourne Chairman Glen Bartlett said the strong result was driven by a team effort across the entire Club.
“This is an excellent result for our Club. This is our fourth consecutive profit and this can only be achieved as a result of a real team effort across the entire Club. I would like to take this opportunity to acknowledge the board of the Club, particularly John Trotter, who chaired our audit and risk committee. Peter Jackson, who has again strongly lead the Club. His leadership has been outstanding and I would like to acknowledge, Peter, his executive team and the entire staff at the Club for the efforts in securing another strong financial result. I would also like to thank the MCC, the Club’s commercial partners, our members and all supporters who have contributed to the Club. We look forward to having you on board again in 2018, for what promises to be an exciting season for the Club,” he said.
Club CEO Peter Jackson said it was another strong financial result, in a year where the Club continued to grow both on and off the field.
“2017 has been a year of further financial growth for the Club. Revenue from football related activities, including membership, match receipts and sponsorship, grew by $2.034m – a 9% uplift on 2016. The revenue growth from football activities allowed the Club to continue to invest in our football program, field an AFLW team and continue to reduce debt levels,” he said.
“A key factor in the financial result was the support of members. A Club record 42,233 signed up for the 2017 season, with the Club also breaking its attendance record with over 830,000 people watching the team play this year – an increase of more than 146,000 from 2016.
“The Club reduced debt levels by $1.353m in 2017. This reduction has totaled $4m over the past four years, with the overall debt balance of the Club falling from $8.1m in 2013 to $4.1m at the end of 2017. The Club will continue to prioritise debt reduction over the coming years.
“The financial position of the Club and the results achieved over previous years will allow the Club to further invest into its strategic priorities in 2018. The Club will continue to invest into its football program, as it is the Club’s core purpose, however will also invest into resources to grow the fan base in order to build a sustainable commercial business for the long term. As a result while the Club is budgeting for a profit in 2018, it is unlikely to be at the levels achieved in 2017."
To download the 2017 Financial Report click here
