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Essendon Football Club announces a statutory profit of $8.2 million for 2021.

Jason Lassey3 years ago3 years ago03 mins

Essendon Football Club is pleased to have strengthened its financial position in 2021, announcing a statutory profit of $8.2 million.

This is made up of an underlying profit from operations of $1.2m, together with $7m of donations and grants directly attributable to the expansion of the NEC Hangar development. The underlying cash profit from operations was $5m.

The club is once again bank-debt free, with the expansion of the fully funded $50m NEC Hangar now complete.

Key points of the club’s 2021 financial result:

An increase of $2.1m in net income from the club’s non-football-related revenue streams due to strong performance during the periods of trade, which were less impacted than the 2020 year.
An increase in match day and stadium returns of $3.3m due to being able to play a full 23-round season, with most games in front of crowds, albeit limited, and the highly successful sell-out Dreamtime game in Perth.
A small growth in net membership revenue of $0.2m, despite an increase of 14,941 members, as the club invested in additional benefits to acknowledge the loyalty of members who maintained their support over the past two difficult seasons.
A decrease in football department expenditure of $1.0m through the reduction in the AFL football department soft-cap expenditure limits.
An increase of $2.2m in player payments, net of AFL contributions, as the industry returned to a full season and in line with the CBA increase.

Essendon report a comprehensive profit of 8.195m for the 2020-21 season (inc a grant of 6.7m for The Hangar expansion). AFL dis 10.73m, Sponsors 11.86m, Members 12.02m, Gate 4.175m.https://t.co/QcEvbPC4ro pic.twitter.com/td09K98PTW

— sportsindustry (@footyindustryAU) November 24, 2021