Melbourne Football Club has announced a $2.1m operating profit for the year ending 31 October 2021.
The result represents a $5.1m turnaround from 2020 and was driven by a combination of the partial return of games played in front of crowds, the ongoing commitment and loyalty of the club’s members and corporate partners, and the 2021 AFL Premiership.
A key summary of the result and the club’s position for the year is as follows:
- Revenue growth of $14.5m (47%) – including a $3.0m increase in match receipts, a $2.7m increase in merchandise sales and &1.7m growth in membership revenue.
- The result was achieved despite the significant impact of COVID restrictions – the club estimates a $4m impact as a result of the relocation of home matches, games being played without crowds and membership grinding to a halt mid-season due to the lockdowns.
- The Club’s Balance Sheet is in a strong position, underpinned by the Bentleigh Club land asset ($23.7m), cash reserves of $9.6m and no debt.
Melbourne Football Club has announced a $2.1m operating profit for the year ending 31 October 2021. The result represents a $5.1m turnaround from 2020https://t.co/RkThJ2UJTa pic.twitter.com/JRD0x8kVkK
— sportsindustry (@footyindustryAU) December 12, 2021