Review AFC Financial Results 2024

[arrowman]

As requested...

Crows announce 2024 financial results

The Adelaide Football Club recorded an operating surplus of $4.064m

www.afc.com.au

Have at it, financial analysts.

Edit: 2023 for comparison:

Crows report strong financial numbers

The Club announced 2023 financial results on Tuesday

www.afc.com.au

 

[Crow54]

How does this compare with the cross-town neighbours?

 

[arrowman]

How does this compare with the cross-town neighbours?

Port Adelaide announces 2024 financial results

The Port Adelaide Football Club has announced an operating profit for the 2024 financial year.

www.portadelaidefc.com.au

Port Adelaide announces 2023 financial results

The Port Adelaide Football Club has announced an operating profit for the 2023 financial year.

www.portadelaidefc.com.au

 

[StonesThrow]

Accounting is so boring

 

[George CantStandYa]

Accounting is so boring

Have you read your posts

 

[StonesThrow]

Have you read your posts

I knew you were an accountant

 

[George CantStandYa]

I knew you were an accountant

Well I’m not but I do have an Econmics degree majoring in accounting but that was a long time ago, I’m much more of a people person As you would have gathered

 

[adelaidecrows]

I knew you were an accountant

He is the chief architect at Vandalay Industries. Which funnily enough I dont know why since they are an importing exporting business mainly dealing in latex.

 

[arrowman]

Well I’m not but I do have an Econmics degree majoring in accounting but that was a long time ago, I’m much more of a people person As you would have gathered

 

[1970crow]

$4m operating surplus is much more like it. Can't find the site with all the annual reports, but I reckon Fagan was barely cobbling $1m whilst running our resource draining side hustles.

1 thing is VERY interesting in the article. There are 5 key points, the first 4 arecabout revenue increase, debt free, membership and attendance. The 5th states "and full investment in men's and women's salary and soft caps". I've always been very confident we were banking caps space to bolster the bottom line and it looks like they've finally admitted to it. Fagan et al left our club in a much worse state than what was seen on the field.

 

[StonesThrow]

Well I’m not but I do have an Econmics degree majoring in accounting but that was a long time ago, I’m much more of a people person As you would have gathered

We do have something in common (plus a dislike of Murphy)

 

[Geoffa32]

How does this compare with the cross-town neighbours?

Not a direct comparison.

We have to pay $450k plus to play in the SANFL.

Plus they have two pokies venues with liquor licences.

 

[Crow54]

Not a direct comparison.

We have to pay $450k plus to play in the SANFL.

Plus they have two pokies venues with liquor licences.

Yep, and I wonder about all these figures, as they can be manipulated to show all sorts of different things.

 

[kirky]

As requested...

Crows announce 2024 financial results

The Adelaide Football Club recorded an operating surplus of $4.064m

www.afc.com.au

Have at it, financial analysts.

Edit: 2023 for comparison:

Crows report strong financial numbers

The Club announced 2023 financial results on Tuesday

www.afc.com.au

I’d like to see the actual financial accounts to make direct comparison.

 

[1970crow]

I’d like to see the actual financial accounts to make direct comparison.

Are they ordinarily published prior to the AGM?

 

[kirky]

Are they ordinarily published prior to the AGM?

Well they should be so you can ask questions if you wanted to (not saying I would).

Why should an AFL football club be any different? The SANFL clubs do.

 

[Kane McGoodwin]

Not a direct comparison.

We have to pay $450k plus to play in the SANFL.

Plus they have two pokies venues with liquor licences.

Port also get paid more from the AFL.

 

[Cleric]

How does this compare with the cross-town neighbours?

Port gets most of their profit from pokies. They prey on the weak and vulnerable and take their last penny via pokies.

 

[1970crow]

Port gets most of their profit from pokies. They prey on the weak and vulnerable and take their last penny via pokies.

It’s a legal product and if it’s needed to help them fully fund their footy ops budget, then good on them. I’d rather the money made by a sporting club than lining the pockets of millionaires.

 

[1970crow]

Well they should be so you can ask questions if you wanted to (not saying I would).

Why should an AFL football club be any different? The SANFL clubs do.

12 of the 18 2024 reports are available on the footyindustry website. If it’s not dealt with specifically in the constitution, I think the AI act only requires the audited financials be made available at the AGM. I can’t recall if we’ve released it earlier in the past.

 

[Cleric]

It’s a legal product and if it’s needed to help them fully fund their footy ops budget, then good on them. I’d rather the money made by a sporting club than lining the pockets of millionaires.

The so-called "Community Club" profiting off the loss of their most vulnerable.
Have you been down the POW and seen the downtrodden people blowing their savings on those machines?

 

[1970crow]

The so-called "Community Club" profiting off the loss of their most vulnerable.
Have you been down the POW and seen the downtrodden people blowing their savings on those machines?

Do you support income management?

 

[Ciao Giacomo]

The accounting standards for Not-for-profits is rather flexible compared to listed companies.

Imho the most accurate guide to the financial health of each club is their AFL distribution (true socialism in action).

The AFL distribution for 2023 (has the 2024 figures been published?) had a base payment of $11.5 million. The basket cases then receive top ups to ensure that most clubs can declare a “Profit”. The clubs receiving around the baseline level are West Coast, Fremantle, Adelaide, Collingwood, Richmond, Hawthorn, Essendon, Geelong and Carlton.

The Pear, Sydney, Melbourne and the Bulldogs received $16 million. If these clubs declared a “profit’ of $2 million it means they only lost $2 million before receiving their Mercy****.

Then we move on to the absolute basket cases. St Kilda, North Melbourne and Brisbane received $18.5 million and finally the very successful new franchises Gold Coast and GWS with $25 million.

I find it amusing that The Pear, along with quite a few other handout clubs make such a big deal trumpeting
“Hey, we made a profit………Again”.

 

[jo172]

It’s a legal product and if it’s needed to help them fully fund their footy ops budget, then good on them. I’d rather the money made by a sporting club than lining the pockets of millionaires.

Millionaires like Ken Hinkley, Jack Lukosious, JHF etc?

 

[1970crow]

Millionaires like Ken Hinkley, Jack Lukosious, JHF etc?

Yes.