THE MELBOURNE Football Club has reported an operating loss of $1.7 million for the year ending 31 October 2013.
The driving factor behind this result was a significant drop in traditional football related revenue, including attendances, membership, retail, corporate sales and sponsorship, totalling $4.4million. This was somewhat offset by improvements in our gaming venues.
Melbourne also endured a number of one off costs in 2013, which has contributed to the Club’s statutory loss of $3.1 million.
These one off costs, totaling $2.8 million, relate to the AFL investigation and the necessary restructure of the Club. The AFL funding of $1.45 million did assist in the cost of restructuring, but did not cover the full amount.
Melbourne CEO Peter Jackson said: “Despite a disappointing result, the Club has a sound balance sheet making the football Club’s future much more stable than the 2013 result indicates.”
“We have a clear objective to bring the Club back to a break even position in 2014 and I fully expect to achieve that, and for our Club to be in a sound position moving forward.
“The Club has improved its non-football revenue streams with those businesses projected to pay off their own debt by 2017, creating an unencumbered business for the Club, in addition to the $9 million land asset attached to the Bentleigh Club. These businesses will secure the future sustainability of the Club.
“The outlook for the Club is positive, but we will of course need and expect our football performances to improve to support the financial outcomes for the Club.”
The Annual General Meeting will be held on Monday 3 February in the Members Dining Room at the MCG.
Click here to download the 2013 Annual Report