News North records another profit

giantroo

Bleeding Blue and White
Sep 23, 2005
65,184
121,936
Melbourne
AFL Club
North Melbourne
Other Teams
Arsenal, Chicago Bulls
North records another profit

The North Melbourne Football Club has recorded its eleventh profit in the past twelve years.


Despite the completion of its $6.21M Arden Street development and an increase in football department spending of $3.67M, North Melbourne Football Club has recorded its eleventh profit in the past twelve years.

North CEO Ben Amarfio applauded the result and pointed to an exciting year ahead.

“Credit must be given to our executive team, Board and former CEO, Carl Dilena, who achieved a lot in his time. Thanks to the generosity of our loyal members, coteries and supporters, we have continued to position ourselves for the future,” Amarfio said.

“The redevelopment ensures our players have access to state-of-the-art facilities, to give them access to the best possible resources to achieve on-field success.”

The facility upgrade included AFLW changerooms, players’ lounge, wet room, new oval lighting and a coaches tower.

“As a result of the upgrade we were able to host VFL games last year and look forward to hosting more games in the upcoming AFLW, VFL and VFLW seasons.”

North’s modest profit of $47k came off the back of overall revenue growth of $41M to $44.6M.

“Last year, we introduced the North Melbourne Tasmanian Kangaroos into the AFLW competition and housed four teams (AFL, AFLW, VFL & VFLW) within our Arden St facility,” Amarfio said.

“While we are satisfied with our financial result, our players, staff and members are impatient and hungry for success. We are investing more into the football department as we strive for our fifth AFL premiership and first AFLW premiership.

“Our loyal members and supporters are largely to thank for the financial position we are in today, without them we simply would not exist.”
 

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Tectonic

Club Legend
Jul 11, 2017
1,881
6,947
AFL Club
North Melbourne
Have they posted the statements anywhere yet?
I'm wondering if the payout for Scott had any effect
 

InTheBack

Rookie
Sep 5, 2018
49
67
AFL Club
North Melbourne
Didn't seem all doom-and-gloom to me. A quick squizz of the Financials and I noted the following:

- While $47k seems bad, the internal reveiw cost us $1m. Which should be a one off
-
We spent $5m upgrading facilities - mostly with cash (we had large cash reserves of $2m in 2018) and only a small increase of $200k in debt
- We received circa $600k for AFLW. This may be a one off, I am not sure
- Our membership revenue didn't increase, which was expected given the projections last year, which should increase in 2020 given how it has started

We seem to have our financials in order, the first few pages of information (crap) speaks that our main focus is on winning games. It's good to note this small quip too: "To meet targets set that will allow the Company to continue to invest in the football department, in particular player payments, which will give us the best opportunity to achieve on-field success. " #bigfish
 

GreatBradScott

Horny for UFOs
Aug 21, 2011
7,732
17,592
Basement of the J. Edgar Hoover Building
AFL Club
North Melbourne
Other Teams
Manchester City, Melbourne Victory
I'm gunna be interested to see how we go next year with Amarfios in charge.

Let's be honest, if running a titty bar got us more money than any other approach, I'd be all for it.

But it won't.
Nothing wrong with running a titty bar, it's sex positive. Make that cash any way you want gals.
 

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Limerick

Premiership Player
Oct 2, 2006
3,251
1,082
Melbourne
AFL Club
North Melbourne
This is a good result in terms of one year but it doesn't present the Club looking realistically to the future. It appears to be of the opinion that Hobart is a very long term situation.

Objectives and Strategies of the Company

The Company’s short-term objectives (2020) are:


• To meet targets set that will allow the Company to continue to invest in the football department, in particular player payments, which will give us the best opportunity to achieve on-field success. Tick

• To investigate innovative ways to grow football revenue above 2019 levels, in particular membership, whilst also increasing sponsorship, sales, events and fundraising revenue. Tick

• To grow non-football revenue. Tick

• To successfully integrate AFLW into the operations of the Company. Tick

• To establish a strong new market of supporters by further developing relationships in Hobart and developing regions in Victoria. We shouldn’t bank on Tassie for the 2021-2023 and beyond period and this period is hardly long term.

• To continue to reduce the Company’s debt with ongoing supporter and member-driven campaigns involving member contributions, unique events and products. Tick

The Company’s long-term objectives (2021 – 2023) are:


• To deliver sustained on-field success. Tick

Surely a long-term objective is to grow the Melbourne/Victorian member base.

To achieve these objectives, the Company has adopted the following strategies:

• To actively engage with members, supporters and communities. Good, but how?

• To explore strategies for new markets in Hobart and Wyndham whilst continuing to maintain its existing strong Melbourne based supporter areas. Hobart can’t be seen as long term. We need a strategy that prepares for life after Hobart.

• To develop a best practice football department. Tick

• To ensure strong and effective financial management along with sound risk management and integrity practices. Tick

• To ensure strong alignment with the AFL and other key stakeholders. Tick
 

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