July 27, 2024
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Essendon Football Club announces a statutory profit of $8.2 million for 2021.

Jason Lassey03 mins

Essendon Football Club is pleased to have strengthened its financial position in 2021, announcing a statutory profit of $8.2 million.

This is made up of an underlying profit from operations of $1.2m, together with $7m of donations and grants directly attributable to the expansion of the NEC Hangar development. The underlying cash profit from operations was $5m.

The club is once again bank-debt free, with the expansion of the fully funded $50m NEC Hangar now complete.

Key points of the club’s 2021 financial result:

  • An increase of $2.1m in net income from the club’s non-football-related revenue streams due to strong performance during the periods of trade, which were less impacted than the 2020 year.
  • An increase in match day and stadium returns of $3.3m due to being able to play a full 23-round season, with most games in front of crowds, albeit limited, and the highly successful sell-out Dreamtime game in Perth.
  • A small growth in net membership revenue of $0.2m, despite an increase of 14,941 members, as the club invested in additional benefits to acknowledge the loyalty of members who maintained their support over the past two difficult seasons.
  • A decrease in football department expenditure of $1.0m through the reduction in the AFL football department soft-cap expenditure limits.
  • An increase of $2.2m in player payments, net of AFL contributions, as the industry returned to a full season and in line with the CBA increase.

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