Cats announce record $2 million profit

FoxC

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Cats announce record $2 million profit


THE Geelong Football Club will cap off its most successful on-field season in history with a record profit of close to $2 million.
The Cats had initially forecast a profit pre-season of $750,000, but re-evaluated that during the season to $900,000.

The flow-on effect from the club's premiership win will add about another $900,000 to the coffers.

``The auditors still have to sign off on it and there's a board meeting next week, but $1.7 million to $1.9 million, around that figure,'' chief executive Brian Cook said yesterday.

``That's a record, the biggest in the history of the club.

``We were looking at $900,000 before the grand final and winning the grand final has probably doubled that.''

The Cats recorded a profit of $340,000 last year and $737,000 in 2005.

Cook said the windfall would be used to clear a large part of the club's debt.

``The business model looks good, or a lot better than it was, it's improving year on year,'' he said.

``We've got $1.4 million in debt left on the redevelopment of the Reg Hickey stand and we might pay $1 million off that and have half a million left.

``It will help us to be very competitive with the best clubs in terms of football department expenditure.

``That's very important and ensures we keep the best people (at the club), no matter where they're from.''

Cook said the money could be used to help fend off would-be poachers of employees from departments throughout the football club.

``We've had quite a few approaches for our people,'' he said.

``Basically all leaders of the club _ assistant coaches, managers, commercial operations people.

``It comes with the territory of winning a premiership.''


From The Geelong Advertiser http://www.geelongadvertiser.com.au/article/2007/10/26/8259_gfc.html


Well done to the club and CEO Cook. This remarkable man has the midas touch that has turned many things into gold for the Cats.

Another important step towards a long and successful era at the summit.

Hopefully we'll be equally successful in fending off poachers from getting near our premiership players.
 

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carmi99

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#4
Great to see, why change the board if they having the best in record, credit to them
It Sure is! Geelong have showed that a club can actually turn around its fortunes without major handouts from the AFL. They looked in deep trouble financially a a while back but now they are getting ontop of things. Teams like Carlton could take a leaf out of the book of your board. Oh wait sorry...i forgot they have Pratty to bail them out now....
 

Copernicus

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#5
Great stuff, about what they would have anticipated after the GF. Anything to keep us at the top of the tree!

I reckon they'd be forecasting some decent numbers next year, too. Especially after we take out another flag ;)
 

And_ROOS

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#6
It also means with the debt we can afford to bomb out one year at some point and not be in dire straights like a Bulldogs or Kangas would be, not that we will bomb out any time soon ;)
 

Partridge

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#11
Especially with our admin, but its always best to put some money away as a safety net. Dont want to end up like poor old Tassie do we? ;)
True. But if they keep the focus they currently have (and that means off field as well as on), I can see some definite good times ahead.

And for a brutal cynic like me, that is a massive statement!
 

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sarah.13

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#12
True. But if they keep the focus they currently have (and that means off field as well as on), I can see some definite good times ahead.

And for a brutal cynic like me, that is a massive statement!
Partridge,don't be so harsh on yourself! Cynic - Yes Brutal -No :)
 

Dasher39

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#14
Well if what i read in the paper about us losing $600,000 next year due to the poor fixturing is true, glad we got that profit.
We wont post a $600,000 loss next year, but our profit will be reduced by about $600,000 because the AFL are a pack of wankers!

Still, if we were to win another flag our profit would still be up around $1.5m-$2m.

If we make the finals but don't win the flag, I'd imagine we'd have a profit of around $5-600,000
 

Ricardo

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#16
We wont post a $600,000 loss next year, but our profit will be reduced by about $600,000 because the AFL are a pack of wankers!
I think the new members and supporters brought in next year and beyond will help us forget how the AFL made some stupid decisions regarding us and the draw.

Say if we get 5,000 extra members, at say around an av. of $140, thats $700k extra right there, and thats probably being conservative.
 

Dasher39

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#17
Say if we get 5,000 extra members, at say around an av. of $140, thats $700k extra right there, and thats probably being conservative.
True, but that would be if the club budgeted for the same number of members as this year.

No doubt we'll budget for an increase, but how big an increase I am not sure. I suspect we'll buget a little lower than what we really expect to get. We may aim for 36,000 but budget for 34,000.

There will also be more merchandise sold, more FTA TV exposure should see an increase in sponsorship as well. Whilst it's disappointing to lose a potential $600,000 from a dodgy draw, we will more than likely make it up in other areas.
 

The Sim Dog

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#18
True, but that would be if the club budgeted for the same number of members as this year.

No doubt we'll budget for an increase, but how big an increase I am not sure. I suspect we'll buget a little lower than what we really expect to get. We may aim for 36,000 but budget for 34,000.

There will also be more merchandise sold, more FTA TV exposure should see an increase in sponsorship as well. Whilst it's disappointing to lose a potential $600,000 from a dodgy draw, we will more than likely make it up in other areas.
No doubt we will. Not beyond Geelong to get 38,000 members if they have an encouraging pre season comp on top of this year's success. Will more than make it up.

Is still 600,000 relating to the fixture we were more than entitled to after this year. Oh well.
 

Brasil2007

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#19
No doubt we will. Not beyond Geelong to get 38,000 members if they have an encouraging pre season comp on top of this year's success. Will more than make it up.

Is still 600,000 relating to the fixture we were more than entitled to after this year. Oh well.
I think it comes from the lack of a home MCG game against Collingwood or Essendon plus no Tigers game at skilled. The latter is without doubt a sop to them for otherwise getting screwed in the drawer, which I'm fine with but the sop surely shouldn't be at our expense.

In terms of on field our drawer is OK, not particularly easy, not particularly hard, which is how it always ends up.

As always, Collingwood have the easiest draw, not just from travel but from who they play. If ever you wanted proof that the AFL did everything in its power to get Collingwood into the finals just note that we only play them once. Surely if the draw was about maximising attendances we'd be playing them twice, given the last time we played them was the biggest game for donkeys.
 

Tristagi

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#20
its been a great year and this caps it off, all credit to cookie, mafia frank and all the other people who run the show from behind the curtain
 

And_ROOS

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#21
We wont post a $600,000 loss next year, but our profit will be reduced by about $600,000 because the AFL are a pack of wankers!

Still, if we were to win another flag our profit would still be up around $1.5m-$2m.

If we make the finals but don't win the flag, I'd imagine we'd have a profit of around $5-600,000
Not saying we will post a loss, just saying thats $600,000 thats pretty much rightfully ours that the AFL has rorted us out of. Last time i checked there were many many Geelong fans at the Prelim, not just Pies, so why should they get all the profits?

Why are we playing the Pies once when we have entertaining, ratings winning and stadium filling matches?
 

Copernicus

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#22
Not saying we will post a loss, just saying thats $600,000 thats pretty much rightfully ours that the AFL has rorted us out of. Last time i checked there were many many Geelong fans at the Prelim, not just Pies, so why should they get all the profits?

Why are we playing the Pies once when we have entertaining, ratings winning and stadium filling matches?
Because Collingwood has more influence than we do, simple unfortunately. They know that the Pies are certain to pull a crowd - in spite of the fact that we've shown amply enough that we are able to do so just as well.

I cannot explain our home game versus Essendon aside from pure stupidity on the part of the AFL. We've been stiffed there, plain and simple, and I am glad the club has made some noise about it. I wonder if, when the time comes, the game will be switched? Unlikely, but it might be worth a shot.
 

Ricardo

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#24
There will also be more merchandise sold, more FTA TV exposure should see an increase in sponsorship as well. Whilst it's disappointing to lose a potential $600,000 from a dodgy draw, we will more than likely make it up in other areas.
The big question i'd like to ask the club is how much extra $$ are there from an increased amount of FTA coverage, the amount of games on FTA from 2007-2008 has jumped significantly, i wonder if say 3-4 less FTA games would equal the amount 'lost' due to no MCG home games.
 

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#25
Because Collingwood has more influence than we do, simple unfortunately. They know that the Pies are certain to pull a crowd - in spite of the fact that we've shown amply enough that we are able to do so just as well.

I cannot explain our home game versus Essendon aside from pure stupidity on the part of the AFL. We've been stiffed there, plain and simple, and I am glad the club has made some noise about it. I wonder if, when the time comes, the game will be switched? Unlikely, but it might be worth a shot.
Richmond V Roos at the G twilight the same day. Can't happen. Why Geel V Essendon was not G game and Tigers and Roos at the Dome I'll never know.
 
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