Dees in the black
Melbourne will record a profit this year, despite increasing its football department and paying 100 per cent of the salary cap
THE EFFORT Melbourne has put in to eliminating its debt continues to pay off and the club will again record a profit this year, reports The Age.
"The official figures, when they are released, will show Melbourne has made a profit for the year of about $6 million," writes Michael Gleeson.
"But this paper figure is based on the merger with the Bentleigh Club earlier this year, which resulted in the football club paying out a small loan and accepting the asset on to the books."
The profit comes despite the Demons paying 100 per cent of the salary cap. Last year they paid only 92.5 per cent.
''We are in a good spot now,'' the club's chief executive Cameron Schwab said.
''Our business has gone from $25 million to $40 million in a few years and we are looking OK for finishing in the black this year.''
''We will make a small profit and we have expanded our club - putting on more coaches and football staff - and we have increased our salary cap to 100 per cent.
''We always wanted to increase our cap payment to 100 per cent, but not at the risk of making a loss.
''We have worked too hard to wipe out the debt.''
