Analysis AFC finances - Rich Club, Poor Club?

Aug 17, 2007
57,015
57,817
Adelaide
AFL Club
Adelaide
Other Teams
The Autobots and Team America
The AGM is tonight

I emailed the club and got this:

******************
Fri, 15 Feb, 12:16 (13 days ago)

to me

Dear deaneus,

Thank you for your email to the Adelaide Football Club.

Both the AGM and Annual Members Meeting (6.00 pm) are being held on Thursday, 28th February 2019.

2018 Financial results will be released then and be available for members on the Club website shortly thereafter.

Kind regards
ADELAIDE FOOTBALL CLUB
******************************

So, first we'll hear of the results are tonight... AGM day, my favourite day of the year!

Who's going? Geoffa32 ?
Wont be going. Got to wash my hair.....


The best part about today is when we release the financial result and learn all about accounting from the Port Board.

It is like a CPA event.

Sent from my SM-G930F using Tapatalk
 

Next Gen Rookie

Club Legend
Aug 15, 2017
1,132
1,496
Hiding in Bacon8's roofspace
AFL Club
Adelaide
Wont be going. Got to wash my hair.....


The best part about today is when we release the financial result and learn all about accounting from the Port Board.

It is like a CPA event.

Sent from my SM-G930F using Tapatalk

Hopefully they tell us why releasing the financials at 5pm on Friday would have been a better way to go.
 

simmo97

Club Legend
Aug 15, 2013
1,992
2,108
AFL Club
Adelaide
The Adelaide Football Club has tonight reported a cash operating profit of $3,828,935 (2017: $3,432,052) for the 2018 financial year.

The fourth-straight year of growth can be attributed to ongoing improvements and refinements across the organisation, as well as strong support from corporate partners and record membership.

It has allowed the Club to fully eradicate its debt, while increasing investment in both the men’s and women’s football programs in line with AFL-imposed limits.

Crows Chairman Rob Chapman spoke at the Club’s Annual Members Meeting and outlined strong performance across a number of key off-field indicators including:

  • Record membership, corporate and coterie support
  • Record revenue of $56.06m
  • Paid down $1.2m to now be debt free
  • Expansion of schools program Growing with Gratitude
  • Delivery of high-quality community programs including multicultural initiatives
  • Growing media platform with live broadcast and video production focus
  • Acquisition of Adelaide Bite baseball team
  • Further development of the Club’s esports and video gaming platforms
The Crows also continue to be a major contributor to the State’s football economy, with payments to the SANFL and South Australian Government.

Taking into consideration abnormal and non-cash items, the Club’s statutory profit was $1,506,002 (2017: $648,715) with this figure including depreciation and a donation to the Crows Children’s Foundation.

Chapman said Members and fans should take comfort that their Club is in a very healthy position.

https://www.afc.com.au/news/2019-02-28/club-financial-results
 

Shaz2012

Cancelled
Sep 15, 2012
7,928
8,424
AFL Club
Adelaide
Can we please give our players business class seats on our trip to Perth this year? I feel that is a pretty big advantage that the Perth teams have got out of the new EBA.
 

Elite Crow

Cancelled
30k Posts 10k Posts TheBrownDog
Mar 21, 2008
56,538
77,659
adelaide
AFL Club
Adelaide
When they say $1.6M includes depreciation, do they mean it’s still to be deducted or after depreciation? The latter could smash that figure down.
 
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Aug 17, 2007
57,015
57,817
Adelaide
AFL Club
Adelaide
Other Teams
The Autobots and Team America
Sweet, that’s a great result
Nearly a mill better than last year when we made the GF. With two Finals at AO.
Plus paid down $1.2 debt to now be debt free.

And no doubt had some expenses around Collective Minds and ridding ourselves of them.

Sent from my SM-G930F using Tapatalk
 

Tex Danger

Premiership Player
Mar 20, 2013
4,906
4,910
AFL Club
Adelaide
Nearly a mill better than last year when we made the GF. With two Finals at AO.
Plus paid down $1.2 debt to now be debt free.

And no doubt had some expenses around Collective Minds and ridding ourselves of them.

Sent from my SM-G930F using Tapatalk
2018 financial year includes 2017 GF and a lead in to a season with a lot of promise
 
Nov 24, 2007
25,849
54,730
DTC Frat House
AFL Club
Adelaide
Other Teams
Team Lambda Variant
I'm going to reserve my judgement

I got to this bit, and my brain said, "until learned individuals on this board have gone over the financial statements"

and then

until it's been through the proper vetting process, that being the nufties on the Poort board.

and this was slightly less personally fulfilling, but way, way funnier
 
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WAG

The People's Captain
Mar 3, 2010
14,078
9,064
In the trenches.
AFL Club
Adelaide
So for the layman, are we in a good position financially, and if so, what does this mean moving forward? I.e. does extra money now get funneled into development, or gameday experience, or..... ? What does debt free mean in practical terms. How would/should we be using this money that would have been going into debt? Do we need to invest it somewhere?

Fwiw, my wife is a senior accountant and I have a tendency to glaze over when she starts talking about work stuff, so please keep it veerry simple. :)

Actually really interested to know what it all means.
 
May 24, 2006
76,777
149,833
Car 55
AFL Club
Adelaide
Other Teams
Redbacks, Sturt, Liverpool, Arizona
It has allowed the Club to fully eradicate its debt, while increasing investment in both the men’s and women’s football programs in line with AFL-imposed limits.

There are no AFL-imposed limits are there? Just a tax if you go over a certain threshold
 
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