The Port Adelaide Football Club is determined to overcome its financial challenges and take its members and supporters on a journey to an exciting future.
President Brett Duncanson made that commitment as he released the club’s financial results for 2011.
The Port Adelaide Football Club recorded an operating profit of $887,971 after significant grants from the SANFL.
The club received just over $4 million in assistance from the SANFL in 2011, including $2.05 million held over from 2010 and $2 million made available through a loan to the SA Football Commission from the AFL.
Duncanson said the club was grateful for the financial support which helped the club to work through a difficult time and ensured it could plan for its future and continue to generate revenue for football in South Australia.
“While the club continues to face challenges, it is confident in its future and the strategies it has in place to become financially strong and independent once its home games are played at Adelaide Oval,” Duncanson said.
Key points for 2011 include:
- Consolidated operating profit after grants of $887,971, compared with a $1.74 million loss in 2010
- Consolidated operating loss before grants of $3.16 million, compared with a loss of $3.69 million in 2010
- Grants from SANFL $4.05 million, up from $1.95 million in 2010
- Turnover $37.0 million
- Football Department (AFL) expenditure $14.7 million
- Debt $5.0 million, up from $3.6 million in 2010 due to loans assumed through One PAFC merger - principally the asset of the Prince of Wales Hotel
Duncanson said the club had improved its financial position by more than half a million dollars on 2010, once grants were taken into account.
He said while game day and sponsorship revenue remained behind where the club needed, Port Adelaide was determined to continue its improvement in these areas.
“We suffered in 2011 through lower-than-expected AFL home ground crowds, which were impacted on by some scheduling issues together with our team’s on-field results,” Duncanson said.
“It highlights the need for our members and supporters to get along to our home games and support the team and at the same time help our club’s bottom line.”
Duncanson said the One PAFC merger had a major positive impact on the club’s performance, driving an increase in membership to more than 36,000, delivering marketing and sponsorship opportunities and producing important cost efficiencies.
“The One Club strategy produced instant results and it will continue to deliver significant benefits in the years ahead. We will only become stronger through the consolidation of our business and more importantly through the reunification of our club and its many supporters,” Duncanson said.
2011 also saw Port Adelaide embark on its Back In Black debt reduction strategy, which raised $1.2m from donors including members, supporters, benefactors and staff, as well as past and present players.
“The Port Adelaide Football Club is a fundamental part of the AFL and a vital source of revenue for the SANFL and football down to the grass roots in this State,” Duncanson said.
“We are proud of what we have done for our great sport over many years, and we embrace the challenge of doing everything we can to become stronger, with a view to increasing that contribution even more.”
Duncanson reminded supporters that they best way they can help the club is by signing up as members at WeArePortAdelaide.com.au
