Port Adelaide had a horror year on and off the field. Picture: Sarah Reed Source: AdelaideNow
PORT Adelaide financial papers yesterday told another doleful story when an operating loss of $4.1million topped the 2011 season's by $1million dollars.
The turnover slipped, the crowd numbers dipped to below 20,000 for the first time since the club joined the AFL and corporate return was estimated to be down by about $600,000.
They was glum figures but the club is positive it has turned a corner in revitalising its brand with a new board and a new coaching group while it is on the doorstep of a shift to Adelaide Oval.
The news comes as senior football figures close to the SA football commission wondered why the grants from the AFL were not included in the reports - at least $1million - and feared the real financial damage was far worse.
Some feared the real loss could have been as bad as $6million.
But Port chief executive Keith Thomas said that under a new reporting system, the grants were rolled into the allocation afforded to all clubs, which seeks to compensate clubs for having a less lucrative schedule or not as many blockbuster games.
"It makes it really difficult to compare results from one year to the next," Thomas said. "It's the same for all clubs. But I think it's fair to say that we are $1million worse than last year and most of that is on football spending."
The club's membership is of concern, because while one set of numbers said the total amount of members were down as little as three per cent, income declined by around $250,000 with more members being on decreased packages.
Worrying times for Port Adelaide coach Matthew Primus. Source: AdelaideNow
Thomas also suggested there's a lagging effect in the work put in by the club in terms of membership and sponsorship.
He was the first to admit the figures weren't flattering, but also said he was confident in the plan implemented and backed it to bring some bacon to Alberton in the coming seasons.
At the core of the plan was winning football matches and, in the sporting landscape, it tends to be a driving force.
"We've been struggling all year to bridge the gap and in the end we didn't," Thomas told The Advertiser.
"But at the end of 2011 we knew we had to invest more in football, spend more on coaches, and I thought it started pretty positively but then it dropped off. The result really is more about membership and corporate support.
"I thought we made some inroads and we'll continue to invest in football.
"This is not a cost blowout - we're still in the bottom two or three in the league in football spend.
"It's a revenue problem - we're confident that good football and Adelaide Oval can deliver.
"In football, we've added three really qualified people in (coach) Ken Hinkley, (senior assistant) Alan Richardson and (fitness coach) Darren Burgess and off-field we've put in three really high-profile people in David Koch, Cos Cardone and Amanda Vanstone.
"But not much works when you're not playing good football."
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