Adelaide Crows Football Club chief executive Steven Trigg says the profit reflects a "very positive season". Picture: Sarah Reed. Source: The Advertiser
ADELAIDE yesterday announced a net profit of $122,434 on the back of a season of growing crowds and a rise in merchandise and corporate spending.
The club has put down the result to a successful season, in which the club was within a kick of making the grand final and also reported a cash surplus of $1,214,039.
But it was recorded before the Crows pay a $300,000 fine imposed by the AFL for breaking salary cap and draft rules regarding Kurt Tippett, underlining the fine line the Crows are treading in deciding whether to report a credit or a loss and in which financial year payments and fines are recorded. In short terms, they roughly broke even.
But it continues to be a fine line for the Crows to remain in the black, in a market place where several clubs are reporting losses and relying on assistance from the AFL.
"Obviously the team's resurgence underpinned a very positive season, leading to our crowds and ticket sales being up," chief executive Steven Trigg said.
"But everyone involved has worked incredibly hard in a continuing, tough environment, to produce outstanding results. And membership remained strong and vital to our success."
Chairman Rob Chapman, who will soon embark on a summer break at his shack after a relentless post-season, breathed a sigh of relief.
But the feeling at the Crows is no longer that the club is a corporation free to print its own money.
"Our key revenue streams of membership and corporate partnerships are critical and we're grateful for such strong support throughout this past year," Chapman said.
"As we enter our last year at AAMI Stadium . . . we are also tremendously encouraged by that ongoing support.
"Early indications of support for the move to Adelaide Oval are very positive, giving us every confidence as a club into the future."
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