MELBOURNE Football Club has reported a profit of $720,218 for the year ending 31 October 2016.
This is Melbourne’s third consecutive profit with the outcome representing another year where the Club has improved its financial position.
The result saw Club revenue grow to $47.5m, an increase of $3m from the previous year. This was driven by growth in the football related income of the Club, particularly membership, sponsorship and gate takings. This allowed the Club to continue to grow the investment in its Football Department, which increased by $635k from 2015.
“Two of our other financial priorities over recent years have been increasing the level of investment in our Football Department and reducing debt levels, both in terms of bank debt and gaming machine entitlement debt. Investment in our Football Department grew by $635k during 2016, taking the increased investment since 2013 to $1.9m. Our overall debt position reduced by $561k in 2016, with debt reduction since 2013 totaling $2.7m.
“In regards to distribution funding, the Club did receive an additional $528k in AFL funding in 2016. It’s important to note that $298k of this funding relates to an increase in base distribution funding, which all AFL clubs receive. The remaining $230k was an increase in AFL equalisation distribution.
“These funds were reinvested directly into the Football Department, which partially funded our $635k increase in football spending, with the remaining balance funded by the improved commercial activities of the Club.
Annual Report is here.
