Sydney Swans Limited has reported a net profit of $53,224 for the year ending 31 October 2016 – profit before depreciation was almost $800,000. Net assets were $2,085,819.
The result comes after substantial compensation payments to ANZ Stadium to bring all home games back to the SCG one year earlier than contracted, along with reduced AFL funding and the Club’s contribution to the AFL equalisation funding.
“Key indicators confirm it was the right decision to bring the games back to the SCG one year early and we thank the SCG Trust and ANZ Stadium management for helping us make that happen.
“Membership grew by more than 15 per cent to a record 56,523 members, which included almost 5,000 ANZ Stadium members who we were delighted to welcome after our games returned to the SCG.
“In total, we welcomed more than 13,000 new members, while more than 12,000 signed on from Melbourne, interstate and overseas.
“Average crowds at the SCG increased to 33,425 over 11 games, which is up from 31,528 over eight games in 2015. Meanwhile our Round 17 game against Hawthorn drew a crowd of 42,314, which was the third largest crowd ever to watch an AFL game at the SCG and the highest at the venue since 1997. Over the duration of the season home attendances were the third best ever.