$217,727 Profit for year ending October 31st 2020

[chriso11]

Going to need that money to clean out the possom poo at punt road over the off season... those rat bastards are back

 

[telsor]

I'm a proud Tiger.

Other clubs figures released yet?

Wouldn't mind seeing a profit ladder.

A few have. On the bottom line, we've done better than some, worse than others.
Frankly it'll be pretty meaningless this year (and next, and ....?) due to the multitude of unusual factors.

A lot of the real info doesn't really come through on the financials though....I think it'll be more about just how hard the various clubs needed to cut, and how sustainable those cuts will be than what the final 'profit' figure was for one year.

 

[Genghis Tron]

A few have. On the bottom line, we've done better than some, worse than others.
Frankly it'll be pretty meaningless this year (and next, and ....?) due to the multitude of unusual factors.

A lot of the real info doesn't really come through on the financials though....I think it'll be more about just how hard the various clubs needed to cut, and how sustainable those cuts will be than what the final 'profit' figure was for one year.

Good points well made. I just want those bragging rights and I'll take any ladder that has us in the top half

 

[Cdog71]

Geez I’m proud to be a Richmond supporter, always have been but when you look at what we set out to achieve 10 years ago and with sh.t hitting the fan this year but us still being able to move forward it shows we’re a great organisation.
Put that alongside the fact we’ve had real success last four years and with the salary cap being reduced we still haven’t lost any of the best 22 for a better offer.
That includes Higgins, thereabouts best 22 but I’m not sure he would have gone to any other club than the one he grew up barracking for.

 

[Bojangles17]

Just a guess, but as you say, we had the cash to pay for those things ourselves.

I'd speculate that we were cashed up for further investments, presumably in Aligned Leisure, and when things went pear shaped, we put that cash into relatively safe short/medium term investments to park it until the time was right to buy/expand/invest as we'd intended...while also retaining the flexibility to adapt to a very fluid situation and put the money into our core activities if required..

Those investment funds will likely stay in the top draw as it will become security for future borrowings , we won’t be spending all our cashola when money is this cheap to lend

 

[Punt rd end]

I wondered where all the salt and nastiness in the comments on this tweet came from and it was Andy Maher in the drivers seat on sen.

 

[Bojangles17]

Bloody ignoramus , limited soft cap not limited cash

 

[ohhhBigMalcho]

better than being in the negatives in the worst years of our collective lives

 

[rado]

A mild profit reported to show the administration are in control and not substantial enough to convince former staff, players and supporters of the challenges faced.

 

[Phar Ace]

Geez I’m proud to be a Richmond supporter, always have been but when you look at what we set out to achieve 10 years ago and with sh.t hitting the fan this year but us still being able to move forward it shows we’re a great organisation.
Put that alongside the fact we’ve had real success last four years and with the salary cap being reduced we still haven’t lost any of the best 22 for a better offer.
That includes Higgins, thereabouts best 22 but I’m not sure he would have gone to any other club than the one he grew up barracking for.

I'm with you! I still don't think enough has been made of the Board's goal setting (announced and driven by Brendan Gale) . It's a modern sporting miracle.

Who sets out when you are in a bit of a s**t position financially, competitively and support wise and says in five years time "We'll compete in finals three times, we'll more than double our membership (75k) and we'll pay down our debt". Then for good measure comes out and says we'll have three premierships by 2020. I mean come on - imagine North saying that right now - they'd be flat out hitting just one of those milestones?

I'm proud right there! But then we also go and create possibly the best Club culture - not just a team culture - but the best whole of Club culture that certainly the AFL has seen (yes I remember Hawthorn the family Club but it has nothing on Richmond Man).

At first I was lukewarm to Peggy as President - now I am an unashamed fan. Of course she hasn't done the heavy lifting but she has caused, given belief to, and said OK then - show me! She has led the charge, been brave with the change, believed in and challenged everyone. It may not be too much to say this will become a sporting folklore in decades to come!

 

[Tigers Time]

 

[JAKLAUGHING]

 

[4tune8]

I wonder if the Premiership prize money was included? It was $200k this year, reduced from $400k previously.

 

[tiger_tough]

I wonder if the Premiership prize money was included? It was $200k this year, reduced from $400k previously.

Wasn't it $1mill previously?

 

[4tune8]

Wasn't it $1mill previously?

$1mill split over the 8 finalists, now $500k

 

[telsor]

How much did we get for winning the premiership?
Usually it's a mill isn't it?
While it's good to make a profit, there are still lots of things to work through.
Jobkeeper looks like it contributed to a lot of it.
also helps having 100,000 members whom most would have pledged the membership.
North broke even and I think another club also broke even.
will be interesting to see how all clubs fared.

The jobkeeper part is interesting.

We booked 10.8M from it, but Essendon 'only' got around like 4.5M from 'government assistance'.

I doubt Essendon (and the AFL) are so incompetent that they miss over $6m that was on the table for them, so I assume a very big chunk of that was related to Aligned Leisure.

 

[KiwiTiger]

I wonder if the Premiership prize money was included? It was $200k this year, reduced from $400k previously.

I believe it was.

Haere Ra

 

[tiger_tough]

$1mill split over the 8 finalists, now $500k

Are you sure?

2020 AFL premiers to be docked prize money

As league has some tough decisions to make

wwos.nine.com.au

This year's AFL premiers will take home considerably less prize-money because of the COVID-19 crisis.
The AFL said the money on offer was being reduced "to best reflect the current circumstances across the competition".
Before the pandemic, the 2020 premiers were set to take home $1.2 million in bonus payments, with $660,000 put aside for the runners-up.

 

[4tune8]

Are you sure?

2020 AFL premiers to be docked prize money

As league has some tough decisions to make

wwos.nine.com.au

This year's AFL premiers will take home considerably less prize-money because of the COVID-19 crisis.
The AFL said the money on offer was being reduced "to best reflect the current circumstances across the competition".
Before the pandemic, the 2020 premiers were set to take home $1.2 million in bonus payments, with $660,000 put aside for the runners-up.

Nah, you're right....my bad

I Googled "AFL Premiership Prizemoney" and the result I got was for the NRL not AFL

 

[tiger_tough]

Nah, you're right....my bad

I Googled "AFL Premiership Prizemoney" and the result I got was for the NRL not AFL

Yep I was just about to say that. Be interesting to know what the AFL prizemoney was.....

 

[Ned_Flanders]

The jobkeeper part is interesting.

We booked 10.8M from it, but Essendon 'only' got around like 4.5M from 'government assistance'.

I doubt Essendon (and the AFL) are so incompetent that they miss over $6m that was on the table for them, so I assume a very big chunk of that was related to Aligned Leisure.

the aligned leisure is where it was mostly used IMO

if you look at the costs numbers i showed previously, our health and community stuff was pretty much unchanged from FY19. That tells me staff cuts for that part of the business were minimal compared to the footy dept.

given the labour type in aquatic centres, they would have been highly compatible with the program too

 

[Bojangles17]

Wasn't it $1mill previously?

Yep but with the div being applied quite discretionary, it may as well be zero

 

[cairo tiger]

so what profit would we have made do you think if it was not covoid and we want the big dance

 

[Bojangles17]

so what profit would we have made do you think if it was not covoid and we want the big dance

>5mn , ffs the WB made that , we d prob pull closer to 10mn but would have forward expensed plenty of cashola on chlorine and gym gear so as to not draw attention to ourselves

 

[Brick Loosener]

Read About It

Richmond Football Club has announced an operating profit of $217,727 for the financial year ended 31 October.

Total revenue for the year was $74 million which represented a 20% decrease year-on-year.

Richmond President Peggy O’Neal said it had been a challenging year on and off the field in 2020.

“Club revenues were severely impacted by COVID,” O’Neal said.

“Most significant was the loss of gate receipt revenue and the reduction in AFL club distributions. Our subsidiary business – Aligned Leisure – was also impacted with its health and recreation facilities closed for large periods during the year,” O’Neal said.

“Unfortunately, the impact of COVID meant we had to restructure the Club, resulting in many redundancies. These were heart-breaking decisions. We wish each of those staff members the very best for the future and thank them for being an important part of our Club.

“Of course, it was the magnificent Tiger Army that was the cornerstone of the Club’s ability to withstand the financial impact of COVID. Our final membership number of 101,174 was simply remarkable and a tribute to their commitment and loyalty.

“Our sponsors have also stood firm with us during this most difficult of years. The willingness of our partners to work with the Club, to be flexible and innovative, has been the key to delivering shared value. We look forward to these partnerships flourishing long into the future.”

O’Neal said it was also important to recognize the important role the Richmond Institute has played to help fulfil the Board’s commitment to diversifying revenue streams.

“The Institute is a unique and innovative education offering that has expanded to regional Victoria. Its students numbered 316 this year, representing growth of 59% year-on-year,” O’Neal said.

“Richmond also remains fully invested in its social impact programming – it is at the heart of our purpose as a football club.

“The Korin Gamadji Institute, the Bachar Houli Foundation and our preferred charity partnership with the Alannah and Madeline Foundation are central to much of that work. It was a difficult year for these programs and partnerships as well, but they continued to find ways to reach young people and to improve lives. “

So five more asterixs on our gifted flags - noice.