Demons announce $1m profit

[ExTasDeeMan]

Not sure if this is using the AFL - but looks good for the club's infrastructure.

Demons announce $1m profit
January 17, 2006

AFL club Melbourne has announced a 2005 profit of $1,035,298 in another indication the club's finances are headed in the right direction.

The Demons credited improved membership and gate takings at games last season for the profit, which comes just two years after the club posted a disastrous $2.2 million loss in 2003.

"The club has achieved budget for the past two years, the strategy plans developed in 2004 remain on track and board and management stability have made a significant difference," Melbourne chairman Paul Gardner said.

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"The financial turn around from 2003 is $3.2 million."

AAP

http://foxsports.news.com.au/story/0,8659,17852398-23211,00.html

 

[puddingfactor]

You will get people saying that the only reason you have a profit is because of the CBF, and yes, that's right.

However, the club is on the right track financially. With more members signing up, and some support from the corporate sector, the club should be able to stand on its own two feet in the next year or so.

The club is aiming for break even next year (non including the CBF) with profits after that.

Off the field, we have a team which is more business minded and more professional. Although I go to the footy each weekend to support the players, not those on the board, they appear to have Melburne on the right track to securing its financial future.

 

[ExTasDeeMan]

they are on the GB right now - what a pack of snozzlers...

 

[Bartram_Class]

A profits a profit, doesnt matter how you make it i suppose.

Good to see.

 

[Sylvia Saint]

they are on the GB right now - what a pack of snozzlers...

I don't read any Melbourne related threads on the main board that resemble trolling.

I suggest you do the same.

 

[The Shev]

I think in 2003 we lost $2.2 million, in 2004 we lost $1.5 million and in 2005 we lost $0.5 million (without CBF of course). So it is looking more positive than it was two years ago, if we continue at this rate then we can expect a non-funded profit by the end of the year.

 

[Vandal]

I've heard that 2008 is the year they want to have it all happening, 150 years, making a profit and a new training facility.

 

[Deestroy]

a 500k loss is much better than the 2.2 million we lost a couple of years ago, it's definitely going in the right direction. We have to take advantage of the CBF money as well as we can by using these huge surplus' to develop new revenue streams as well as paying off debt. Essentially... Free money AFL? Yes please.

Hopefully we will be turning a profit under our own steam within a couple of years.