CARLTON Football Club is pleased to declare a final statutory net profit of $6,292,164 for the year ending 31 October 2019, an increase of $5,578,475 on the previous year.
Today’s announcement continues a significant period of growth for the Club, with the Blues posting a net profit position for the third consecutive year and declaring a net underlying profit of $2,492,164, excluding government grants.
The Club’s financial results are reflective of a substantial year of revenue growth, with the Blues securing a 15 per cent increase in membership. The contribution of the Carlton faithful saw the Club set a new record of 64,269 members in 2019 – the biggest in the Blues’ 155-year history.
The Club reached an average home crowd of 46,730 in season 2019, compared to 31,775 in 2018, resulting in a 47 per cent increase in home crowd attendance – the biggest year-on-year growth in the AFL this season.
In line with Carlton’s strategic plan, the Club continues to deliver on its commitment to repay its debt, with $2.4 million worth of historical debt being paid off in 2019. This figure was more than double what was originally forecasted and is an achievement the board and administration will continue to build on in 2020.
The Club also invested an additional $859,285 into its football departments across both its AFL and AFLW programs. On the back of the significant growth of the business, investment into football will once more be increased in 2020. The additional investment in the football department from 2018 - 2020 is proposed to be in excess of $4.5 million. This significant investment has been generated through the uplift in Club revenue.
The Club continued its investment into the Master Plan of Ikon Park, which has now entered its final planning phase and will see the Carlton Football Club boast fully integrated, state-of-the-art facilities. The development will also incorporate upgraded match day facilities, an education hub and elite training facilities that will enable integration of its AFL, AFLW, VFL and VFLW programs.
Non-traditional revenue streams continue to grow for the Blues, with the Club’s investment into Carlton College of Sport proving a success in its inaugural year, along with Carlton IN Business – which already stands as one of biggest corporate networks in Australian sport – adding to the suite of corporate revenue achieved in 2019.
The Club’s commercial growth also continued this year, with co-majors Hyundai and Virgin Australia secured in long-term partnerships. In addition, the Club has solidified its commercial strength through key partnerships with La Trobe University, Ikon Services, MC Labour, Credit Union Australia, Grunt, Lincoln Indicators and Ontime Delivery Solutions.
Excitingly, new partnerships with PUMA and Austbrokers have been confirmed for 2020 pointing towards further growth in the commercial area of the business.
Carlton CEO Cain Liddle said that a comprehensive business strategy, and the record level of support from the Navy Blue faithful had been paramount to another significant year of financial growth for the football club.
“The increases in membership revenue and crowd attendance are a testament to the commitment of our Carlton fans and we look forward to seeing that support continue for our AFL and AFLW teams in 2020,” Liddle said.
“Significant credit must also be given to our President Mark LoGiudice and the entire Board, particularly after initially budgeting to reduce our current debt by $1 million this financial year, we have been able to double the debt reduction to over $2.4 million.
“Our members can rest assured that we are not content, we are committed to continue to work incredibly hard to make sure our strong financial performance continues, and our on-field performance continues to improve in 2020.”