The 2024 AFL season has not only been thrilling on the field but also financially significant for several clubs.
Three of them—the Geelong Cats, Essendon Football Club, and Western Bulldogs—have today announced their financial results for the year.
Let’s dive into how each club fared financially, compare their performances, and see what it means for their future.
Geelong Cats Score Big with $6.6 Million Net Profit
Key Highlights:
- Net Profit: $6.6 million (up from $0.8 million in 2023)
- Operating Result: $6.1 million before interest, amortization, depreciation, and net asset gain income
- Membership Record: 90,798 members (up from 82,155)
- Stadium Expansion: Completion of the Joel Selwood Stand, increasing GMHBA Stadium capacity to 40,000
What Drove Their Success?
The Geelong Cats enjoyed a substantial increase in gross revenues, up by $16.2 million. This financial boost was largely due to the completion of the Joel Selwood Stand, which not only expanded stadium capacity but also played a pivotal role in attracting a record number of members.
CEO Steve Hocking’s Vision:
Steve Hocking attributed this financial success to the unwavering support of the club’s loyal members and fans. Looking ahead, Hocking is ambitious about reaching 100,000 members in 2025, coinciding with the celebration of their 100-year partnership with Ford Australia.
“Our community across the Geelong region and beyond is growing, and our objective in 2025 is to reach 100,000 members,” Hocking stated.
Investments in Facilities:
The club has also invested heavily in state-of-the-art facilities at GMHBA Stadium, including a new AFLW purpose-built locker room and upgrades to high-performance areas. These investments aim to provide an “unmistakably Geelong experience” for members and fans.
Essendon Returns to Profitability with $0.41 Million Operating Profit
Key Highlights:
- Operating Profit: $0.41 million (up from a loss of $0.58 million in 2023)
- Revenue Growth: 8.2% increase to $78.9 million
- Cash Profit: $4.82 million before depreciation and amortization
- Net Assets: $51.12 million with no bank borrowings
A Turnaround Story:
Essendon Football Club has made a modest but meaningful return to profitability. The healthy profit was driven by strong attendance during the AFL season, leading to record match receipts and continued growth in membership contributions.
Balancing Revenue and Expenses:
While revenues grew by 8.2%, expenses also increased by 6.8% due to further investments in football operations and facility enhancements at The Hangar and Windy Hill. This indicates the club’s commitment to improving on-field performance while maintaining financial stability.
CEO Craig Vozzo’s Remarks:
“The modest profit reflects strong attendance figures and the amazing contribution of a loyal member base, which has allowed us to reinvest in our football operations and facilities,” said Vozzo.
He emphasized the importance of these investments for achieving sustained on-field success and expressed optimism for further growth in 2025.
Western Bulldogs’ Profit Dips Amid Increased Investments
Key Highlights:
- Total Net Profit: $14.9 million (down from $26.28 million in 2023)
- Underlying Profit: $491,752 (excluding redevelopment activities and other expenses)
- Membership Record: 62,328 members (up from 56,317)
- Stadium Redevelopment: Completion of Mission Whitten Oval upgrades
Investment for the Future:
The Western Bulldogs reported a decrease in net profit, primarily due to increased investment in football operations and the completion of significant redevelopment projects at Mission Whitten Oval. While the profit dipped compared to the previous year, these investments are strategic, aiming to set the club up for long-term success.
CEO Ameet Bains’ Insights:
Bains acknowledged that the completion of the redevelopment introduces new costs but emphasized the potential benefits:
“This new facility has brought inevitable new costs, but we are now in a position to realize its full potential as a venue,” he said.
Membership and Fan Engagement:
The club achieved a third consecutive year of record membership. Attendance figures were also up, with notable games drawing the biggest crowds at Marvel Stadium in over a decade. This demonstrates strong fan engagement despite the increased expenditures.
President Kylie Watson-Wheeler’s Perspective:
Watson-Wheeler expressed pride in the club’s financial position:
“We’re proud of the financial position our club is in and the strong foundation that has been built for the Western Bulldogs to thrive into the future.”
Comparing the Clubs: Who Came Out on Top?
- Profitability:
- Geelong Cats reported the highest net profit at $6.6 million.
- Essendon made a modest profit of $0.41 million, marking a return to profitability.
- Western Bulldogs had a higher total net profit of $14.9 million, but this was a decrease from the previous year due to heavy investments.
- Membership Growth:
- Geelong Cats led with 90,798 members.
- Western Bulldogs saw the highest percentage growth, achieving a record 62,328 members.
- Essendon also reported strong membership contributions, contributing to their revenue growth.
- Investments:
- Geelong Cats focused on stadium expansion and facility upgrades.
- Essendon invested in football operations and facility enhancements.
- Western Bulldogs completed a significant redevelopment of Mission Whitten Oval.
- Financial Strategies:
- Geelong Cats balanced profitability with investments, resulting in both financial growth and improved facilities.
- Essendon prioritized returning to profitability while investing in key areas.
- Western Bulldogs accepted a short-term profit decrease for long-term benefits from their investments.
What Does This Mean for 2025?
All three clubs are positioning themselves for future success through strategic investments and a focus on membership growth.
- Geelong Cats aim to reach 100,000 members and leverage their upgraded stadium for enhanced fan experiences.
- Essendon is building on its return to profitability to invest further in football operations, aiming for sustained on-field success.
- Western Bulldogs are looking to capitalize on their new facilities at Mission Whitten Oval to drive future revenue and performance.
Fan Support Remains Crucial
Across all clubs, one common thread is the incredible support from members and fans. Their loyalty not only boosts match-day revenues but also provides a stable foundation for clubs to invest in facilities and talent.
Final Thoughts
While each club faced its unique challenges and opportunities in 2024, their financial results reflect strategic decisions aimed at long-term success. Geelong Cats demonstrated strong profitability alongside substantial investments. Essendon showed that careful financial management could lead to a turnaround. Western Bulldogs accepted reduced profits in the short term to invest in infrastructure that could pay dividends in the future.
As we look forward to the 2025 season, fans of these clubs can be optimistic. Investments in facilities and football operations, coupled with strong membership bases, suggest that all three clubs are not just financially stable but are building towards a brighter future both on and off the field.
