Melbourne Football Club has announced a $2.1m operating profit for the year ending 31 October 2021.
The result represents a $5.1m turnaround from 2020 and was driven by a combination of the partial return of games played in front of crowds, the ongoing commitment and loyalty of the club’s members and corporate partners, and the 2021 AFL Premiership.
A key summary of the result and the club’s position for the year is as follows:
- Revenue growth of $14.5m (47%) – including a $3.0m increase in match receipts, a $2.7m increase in merchandise sales and &1.7m growth in membership revenue.
- The result was achieved despite the significant impact of COVID restrictions – the club estimates a $4m impact as a result of the relocation of home matches, games being played without crowds and membership grinding to a halt mid-season due to the lockdowns.
- The Club’s Balance Sheet is in a strong position, underpinned by the Bentleigh Club land asset ($23.7m), cash reserves of $9.6m and no debt.
View the full 2021 Financial Report
Melbourne CEO Gary Pert said the Club’s on and off field results in 2021 are something that all members can be proud of.
“This year was an exceptional one for Melbourne Football Club both on and off the field,” said Pert.
“In addition to bringing the 2021 AFL Premiership Cup home to our loyal supporters, our AFLW team also recorded a club best performance by reaching a preliminary final, we set a new club membership record and navigated our way through, yet another COVID affected season whilst still managing to record an operating profit.
“The club also reached an agreement to sell the Bentleigh Club for $23.7m, which will settle in 2022. The club will establish a Future Fund with the proceeds of sale, with the purpose of the Future Fund to underpin the long term financial sustainability of the club.
“We sold three years’ worth of merchandise in the month leading up to and following the grand final. These unprecedented results were a significant driver in achieving such a fantastic financial result in 2021.
“In addition, we are also thankful for the ongoing support of our loyal commercial partners. The club was able to retain all but one partner from the COVID affected 2020 season, including Co-Principal partners Zurich and Jaguar, whilst also welcoming a number of new partners to the club.
“We could not have achieved these kinds of results without the support of the 54,493 dedicated Demons who signed on in 2021. To all of our members and supporters thank you. Your support ensures we can continue to re-establish Melbourne as a powerhouse of the competition.
“We look forward to welcoming our fans home to the MCG and continuing to grow the football club both on and off the field in 2022.”
The Melbourne Football Club Annual General Meeting will be held in February 2022.
