MELBOURNE Football Club has reported a profit of $720,218 for the year ending 31 October 2016.
 
This is Melbourne’s third consecutive profit with the outcome representing another year where the Club has improved its financial position.
 
The result saw Club revenue grow to $47.5m, an increase of $3m from the previous year. This was driven by growth in the football related income of the Club, particularly membership, sponsorship and gate takings. This allowed the Club to continue to grow the investment in its Football Department, which increased by $635k from 2015.
 
“This is a pleasing result for the football Club and our members were a key factor in the consolidation of our financial position. We saw membership grow to record levels, with 39,255 signing up for the 2016 season. This was complimented by our strong home game attendances, which saw over 330,000 people attend our home games – an increase of 72,000 compared to the previous season. These results show that our members are invested in the future of this Club and I would like to take this opportunity to thank all members and supporters for their generosity and ongoing support,” said Melbourne CEO Peter Jackson. 

“Two of our other financial priorities over recent years have been increasing the level of investment in our Football Department and reducing debt levels, both in terms of bank debt and gaming machine entitlement debt. Investment in our Football Department grew by $635k during 2016, taking the increased investment since 2013 to $1.9m. Our overall debt position reduced by $561k in 2016, with debt reduction since 2013 totaling $2.7m.
 
“In regards to distribution funding, the Club did receive an additional $528k in AFL funding in 2016. It’s important to note that $298k of this funding relates to an increase in base distribution funding, which all AFL clubs receive. The remaining  $230k was an increase in AFL equalisation distribution.
 
“These funds were reinvested directly into the Football Department, which partially funded our $635k increase in football spending, with the remaining balance funded by the improved commercial activities of the Club.
 
“The financial turnaround of the Club has been in line with the strategic plan set by the executive and board since 2013. We are where we planned to be as a Club, however we must continue to drive high performance both on and off the field to ensure we continue to grow and strengthen the Club over the coming years.”
 
Melbourne’s AGM will be held on Thursday, December 15 in the Members Dining Room at the MCG from 6:30pm.

To view the finacial report click here