“There is continued strong investment in football, with a total outlay of $27.2 million across our men’s and women’s programs.
“The club also continued to invest in its women’s football program, with the club enjoying a successful debut season in AFLW.
“The club continued to work towards an exit from gaming, and also took the step this year of not accepting any revenue from gambling advertising. We expect a complete exit in the next year, which will enable the club to become debt free.”
Collingwood have put their profit of $3,875,111 down to strong crowds and membership boosts. It is slightly lower than 2018’s profit of $4,174,492.
Membership was up almost 10,000 (75,736 to 85,226) while average attendance lifted by more than 9000 fans per game (49,898 to 58,975) in 2019.
Pies CEO Mark Anderson said the club would be able to invest in its football and community programs because of the result.
“A number of ingredients are in the result, such as the AFL team finishing in the top four, excellent corporate support from the likes of our major partners Emirates Airline, CGU, Holden and La Trobe Financial and a tight control on expenditure,” Anderson said.
“And in keeping with our strategic exit from gaming 12 months ago we were able to find new revenue streams.”
The Dogs’ profit of $2,980,693 million is their fourth consecutive over the $1 million mark.
Proceeds from the Bulldogs’ exit from the gaming industry will show up in next year’s financial results.
“This is another financial result, which will strengthen the club’s off-field position and help us invest in our future,” Bulldogs president Peter Gordon said.
“Our management and staff have done a tremendous job to enable us to invest more in football, in the Whitten Oval, and into our community, as well as to get out of gaming.”
Anthony is a sports reporter at The Age.