The Geelong Football Club has announced a statutory net profit of $6.6 million for the 2024 financial year (FY23: $0.8 million). The operating result before interest, amortisation, depreciation expense ($3.9 million) and net asset gain income ($4.4 million) was $6.1 million (FY23: $3.5 million).
The 2024 financial year saw an increase in gross revenues of $16.2 million, underpinned by the completion of the Joel Selwood Stand which was instrumental in increasing the Club’s membership base to a record breaking 90,798 (FY23: 82,155) and crowd attendances at GMHBA Stadium, which now holds a capacity of 40,000.
The following items were key contributors to the Club’s financial performance in FY24:
- Membership and Ticketing revenues increased $3.5 million to $25.1 million with the completion of the Stage Five development at GMHBA Stadium and strong MCG home game attendances.
- Sponsorship and advertising income was relatively consistent with the prior year and the Club would like to acknowledge and thank our major commercial partner, Ford Australia plus elite partners, Cotton On, Deakin University, GMHBA, Morris, Simonds and Marathon Foods. Marathon Foods was welcomed to the Geelong Cats partner family in 2024 and committed to both the AFL and AFLW programs. Simonds increased their commitment to the Club as AFL shorts partner.
- Hospitality revenue saw a significant increase from FY23, with the introduction of Club Chin Chin, along with increased activity of function offerings at GMHBA Stadium delivered by Higher Mark. With the success of Club Chin Chin, the restaurant will continue at the stadium in 2025 expanding past its initial 12 month pop up.
- The Club’s health and fitness business 10 South, solidified its revenues with an increase of $0.7 million from FY23, due to the continued growth of the sports medicine clinic and increasing membership base within the gym operations.
- On completion of the Joel Selwood Stand by the Kardinia Park Stadium Trust, the Club was gifted $4.7million of assets that are solely attributed to the exclusive areas within the stadium that the Club derives its commercial revenues.
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