The Melbourne Football Club is proud to announce an operating profit of $1.7 million for the year ended 31 October 2024, marking the Club’s fourth consecutive operating profit.
Melbourne CEO Gary Pert acknowledged the club’s solid financial position and expressed his gratitude to members, supporters, and commercial partners for their continued commitment and loyalty.
“The unwavering support of the Demon faithful has been extraordinary and continues to drive our growth both on and off the field,” Pert said.
“On behalf of our players, coaches, and staff, I want to sincerely thank every member who signed up this year for your passion and support. We hope that you feel proud of the role you have played in helping the club deliver the fourth consecutive operating profit.”
Pert also acknowledged the significant contributions of the club’s commercial partners.
“Our co-principal partners, Zurich and Hertz, alongside all our corporate partners, play a vital role in the club’s journey. Their belief in our vision and ongoing investment have been instrumental in delivering this strong financial result.”
Key Financial Highlights:
- Operating Profit: $1.7 million.
- Revenue from football activities: $56.6 million
- Future Fund Performance: The Future Fund generated $3.0 million in net income this year, underscoring its importance in safeguarding the club’s financial stability and future investments.
- Balance Sheet: A strong Balance Sheet, underpinned by the Club’s Future Fund of $23.7m and $9.5m of funds available for investment in the Club’s Training & Administration project.
Pert also addressed the impact of one-off items on the statutory result for 2024, including:
- A $3.1 million expense (including on-costs) associated with finalising Angus Brayshaw’s contract following his medical retirement.
- $0.9 million in net legal costs.
“Despite these abnormal items, the club’s underlying financial performance remains strong. Our focus is firmly on ensuring we have the resources to invest in our football programs, facilities, and community initiatives while maintaining financial resilience.”
“Our balance sheet strength and the exceptional performance of the Future Fund ensure that we are well-prepared to deliver on our strategic priorities and drive success for our members and supporters,” Pert said.
The Melbourne Football Club’s Annual General Meeting will be held on Tuesday, 17 December 2024, providing an opportunity for members to hear more about the Club’s financial results and future plans.
