- Apr 9, 2003
- AFL Club
- Western Bulldogs
About 800k after expenses I recall hearing. The reason why the club's debt increased was because of an additional $1.5m borrowed to purchase and refurbish a RSL club on the Peninsula. However this appears to be "good" debt because it's linked to an asset and the club's level of profit in 2011 improved substantially in hospitality.Included in operating revenue according to their financials (p17 if anyone cares to have a look).
Which is actually a little depressing if you're a Dogs fan, because not only is it included in an operating profit figure that barely broke even, debt actually went up in 2011. Any donations towards paying off debt in 2011 didn't actually pay off debt, it simply paid for 2011 expenses.
How much did they raise?
The "bad" debt is with Westpac and that declined from $5m to $4.25m broadly in line with the fund raising.
As for our operating result it needs to be borne in mind that there is 845k of depreciation related to the $31m WO redevelopment (easily the largest for any club so far). As this redevelopment wasn't funded by any debt it's really a book result but it makes making a profit really difficult. If we break even this year (including this depreciation) and reduce the debt by another $845k I'll be delighted.