The Collingwood Football Club has announced a net operating profit of $5.225 million and a net profit of $16.375million for the financial year ending October 31, 2013.
The Collingwood Football Club has announced a net operating profit of $5.225 million and a net profit of $16.375 million for the financial year ending October 31, 2013, a sum which included development funding of $11.150 million.
Collingwood raised its year-on-year revenue by $2.6 million and lifted overall turnover above $75 million ($75,238,531), a result built largely on the back of record membership of over 80,000 (80,456) – a new club and AFL record.
“As per our promise to supporters, the profits will continue to be invested back into the club’s two key stakeholders, being the playing group and fans,” Collingwood chief executive Gary Pert said.
“This year we invested an extra $600,000 into our membership services and an extra $1.3 million into our football department.
“The rest of the club profits are earmarked to help fund the new community facilities bordering our Westpac Centre training ground, which will require extra club funding of $15 million over the next three years.
“It has never been more important in Australian sport to be financially sustainable, to be able to determine our own future, retain our identity and protect our brand.”
Collingwood president Eddie McGuire lauded the profit and said it was great work by the entire team.
“This is a great result for the club built on the outstanding support of our members and corporate partners, strong board level leadership and the efforts of a first class administration,” Collingwood president Eddie McGuire said.
“The club’s strong financial position has allowed us to create the ultimate Collingwood vision of Australian sport’s best training and administrative complex, a facility that can hold its own against the best sports clubs around the world.
“We know that to provide our players, coaches and staff with the best facilities and opportunities to succeed in an increasingly difficult environment that we must remain financially healthy and independent.”
Collingwood’s 2013 net operating profit result is declared at $5,225,741, with the inclusion of a $10 million Federal Government contribution to the $25 million community facility and a further grant of $1,150,000 from the Melbourne and Olympic Parks Trust rolled into the overall profit figure of $16,375,000.
“The next development phase will be pay off for our social club members and the broader community. With a special focus on women’s sports and fitness activities, it stands to be a wonderful asset for the people of Melbourne,” McGuire said.”
The chairman of the Collingwood finance and governance committee, Mark Korda, said: “Collingwood has, over the last four years, restored its balance sheet and now has net assets of over $35 million and is debt free. It is a position everyone involved with the club should be proud of.”
The annual general meeting for the 2013 season will be held on February 11, 2014, at the MCG. Full details of the AGM will be communicated to members.
Highlights of Collingwood’s 2013 financial year include:
- Net operating profit of $5.225 million
- Total revenue of $75,238, 531, up from $72,613,914 in 2012
- Football department expenditure increased to $22,459,510, up from $21,167,238 in 2012
- Record membership figure of 80,456, up from 73,605 in 2012
- Collingwood’s net asset position improved to $35,067,587, up from $18,691,856 in 2012