FOR THE third consecutive year, Melbourne Football Club has announced a strong financial result, returning an operating profit of $2.2m for the year ended 31 October 2023.
The Club has also generated an additional one off $900k in fundraising proceeds for the purpose of upgrading current training and administration facilities. These proceeds added to the operating profit, create a statutory profit of $3.1m.
Melbourne CEO Gary Pert said that in large part, the Club’s off field position has never been stronger due to the commitment of Demons’ members and supporters.
“The passion shown by the Demon faithful this season has been outstanding and plays a huge part in our strong financial position as a Club.
“Supporters turned up in record breaking numbers this season, with 487,864 fans attending our home games at the MCG. An all-time Club membership record was set with 71,388 members getting behind our Club this year.
“On behalf of the players, coaches and staff at the Club I want to thank the supporters who are not only signing up but showing up to cheer on our AFL and AFLW players.
“The Club continues to grow financially with a record revenue of $56.4m, which creates financial stability and resilience looking forward. A big part of the stability is that we are fortunate enough to have some of the most loyal sponsors and corporate partners in Australian sport. I would like to acknowledge our two co-principal partners Zurich and Hertz for their commitment and contribution. In addition, I would also like to thank all our commercial partners who continue to invest in the Melbourne Football Club journey.
“Our Balance Sheet is in great shape, underpinned by our Future Fund of $24m and $10m in cash reserves - $8m of which is allocated for investment into the Club’s future primary training and administration facility project. The strength of our Balance Sheet is fundamental to our future growth, and ensures we are in a great position for the years to come.
“This year I hope all supporters were proud that the Melbourne Football Club was awarded the inaugural McClelland Trophy by the AFL. This recognises the Club as the best performing Club in both the men’s and women’s programs throughout the home and away season. The $1m prizemoney which is part of this award will be captured in the 2024 financial results as the trophy was awarded after year end.”
Further information on the Club’s financial results will be shared at the Annual General Meeting on Tuesday 19th December 2023.
To view a copy of the financial report, click here.