Following the first uninterrupted season in more than two years, Hawthorn has posted a strong financial result, achieving both football club and consolidated surpluses.
Previously, gaming and hospitality contributed significantly to the profitability and financial stability of the club. The consistent income and surpluses generated helped position the club to be able to withstand unexpected financial events such as COVID-19.
While the exit from gaming will have an impact on the club’s recurrent income, the strong result from the sales enable the club to look at other investment opportunities via a club based Future Fund. A significant portion of gaming sale proceeds will also be used to support the construction of the Kennedy Community Centre.
However, this year’s financial result continues to show the club’s operations, excluding investments, are anticipated to run at a consistent surplus into the future.
This is highlighted in the football operations net surplus of $752,006 for the financial year ending October 31 2022. The football operations are the key indicators of the club’s financial position, and does not include the club’s investments, foundations and consolidated revenue.
Key points of the 2022 financial report include:
- Football club operations net surplus of $752,006 for the 2022 financial year
- Consolidated net surplus of $35.1m for the year ending October 31 2022, including gain on sale of $32.0m relating to the club’s venues
- The club posted an all-time record membership year, with 81,494 loyal members committing to the brown and gold in 2022
- The club’s consolidated cash position increased to $69.1m (2021: $30.9m) at 31 October 2022, albeit a significant proportion reflects funds specifically quarantined towards the construction of KCC.
- HFC Foundation received donations of $973,130 towards the Kennedy Community Centre
Hawthorn declare a profit of 34.76m on revenue of 81.27m (including 32m from asset sales) for 2022.
— sportsindustry (@footyindustryAU) November 18, 2022