St Kilda, which has been easily the greatest recipient of AFL funding of Victorian clubs over the previous four years - topping $20 million in 2017, 2018 and 2019 - will also have their funding reduced compared to the already reduced 2021 outlay. AFL Chief Financial Officer Travis Auld said the business had prepared for another challenging year, so the financial results and the overall operating loss were a best-case scenario result, considering the circumstances the business had to address throughout the year. 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The club recorded a standard operating profit of $2,308,667 prior to the inclusion of $2,254,069 of expenses relating to the Swans HQ development at the Royal Hall of Industries (tender costs, rent and depreciation). engages in the provision of financial protection services. Carlton, despite a decade of on-field struggles, received slightly less than Richmond in variable funding, over the nine years to 2020. Clubs, of course, tailor their spending to their revenue and so the figures are largely a demonstration of funding differences rather than a reflection of what would happen. AFL earnings call for the period ending March 31, 2021. . The Swans the pandemic had a significant impact on the clubs operating model, including playing its final three home games of the season at Geelong, Melbourne and on the Gold Coast. Were sorry, this feature is currently unavailable. The Fremantle Football Club has posted a 2021 operating profit of $1.55 million, seeing a turnaround of more than $2.5 million after posting a loss of $1.07 million for 2020. Some astute financial management from Amarfio and past chief executives Eugene Arocca and Carl Dilena across the past 10 years, much-needed sponsorship dollars and an ongoing commitment of the clubs loyal members, especially through the pandemic, helped to turn the tide. to incorporate the statistic into your presentation at any time. The first official KFC SuperCoach scores of 2023 are in. The AFL has shed about $700 million in revenue over the course of the pandemic in 2020 and 2021, forcing major cost cuttings and wiping out their cash reserves and future fund but avoiding any debt. The COVID-19 pandemic and related government health measures significantly impacted the AFL industry and the clubs operating model, most notably resulting in the final four AFL mens home games without crowds. Melbournes greatest on-field season in more than half a century has ended with an operating profit of $2.1 million to sit alongside the clubs drought-breaking 13th VFL-AFL premiership triumph. Keep up to date with the best AFL coverage in the country. The expansion teams have consistently been funded to the tune of more than $20 million, covering their player payments and most of the soft cap, over the past several years, except for the COVID-curtailed 2020, when AFL revenue shrank. The Giants have received about $100 million more funding from the AFL than the Pies over the past decade.Credit:The Age. In a statement, Geelong said it was focused on identifying new opportunities to substitute gaming revenues to ensure a sustainable operating model into the future, including expanding its investment in the health and fitness and hospitality industries. AFL sources said the larger allocation to the Tigers reflected their far weaker position earlier in the 2010s, when they carried a sizeable debt and did not have anything like their present day membership or income. 2017 Annual Report. Richmond's flag brought financial windfalls, but the Tigers still have a few clubs ahead of . Essendon president Paul Brasher said the AFLs removal of $2 million from certain clubs for 2022 was done on the basis that a working group would review it. Used as a form of tax on the richer clubs, variable funding is the AFL's primary tool for financial equality across the competition. Are you interested in testing our business solutions? COVID-19 has not disappeared from the public landscapeand likely won't for a fair while. The Demons have no debt and cash reserves of $9.6 million, while the sale of the Bentleigh Club land asset will yield $23.7 million next year, which will be put into a Future Fund to safeguard the clubs long-term financial future. As a result, the club is debt free as at 31 October 2021. In that time there has not previously been a financial backwards step at least until COVID-19 struck. All hopes are that it is plan A or B embarked upon in the future. North Melbourne, who have faced constant financial pressures and talk about relocation to their second home in Tasmania, ranked only sixth in variable funding, surprisingly trailing not only GWS, Gold Coast and the Lions (in that order), but the Saints and Bulldogs, despite the Dogs 2016 premiership and superior balance sheet. Sydney has managed to scrape together a $54,598 net profit following an AFL season in which it spent large periods outside of New South Wales because of Covid-19 lockdowns. The Brisbane Lions, who have recovered strongly from a fiscally fraught position and made a profit to $3 million this year, are expected to receive about the same as they did in 2021. The club is now debt free for the first time in decades and positioned to bounce out of Covid-19 and management has developed a clear strategy under new CEO Steve Hocking for crowds to return in season 2022.. AFL Headquartersalso embarked on a significant restructure to stay afloat. AFL players agreed to take a 50 per cent pay cut in the wake of the coronavirus pandemic. With operating revenue increasing by 33.3 per cent to $47.4m, chief operating officer Simon Kelleher said the Cats were in a strong position heading into the 2022 season. The club would like to acknowledge the continued support of the State Government with its funding commitment to complete stage five at GMHBA Stadium and the clubs ongoing partnership with the Kardinia Park Stadium Trust providing rental relief during the financial year. These facilities were extinguished in 2021 following the continued focus on managing the overall cost base and driving revenue growth, while delivering the season safely in a pandemic environment,Mr Auld said. . The Bulldogs have announced they have completed the financial year, ending October 31, with a total statutory profit of $6.47 million. These are experiences that will only reinforce these important partnerships in the future. Under the new variable funding model, industry sources said Essendon were expected to receive up to half - $1 million or so - of their lost $2 million for a total package approaching $9 million, and are in the next band of relatively prosperous clubs who do not get the full $2 million back, while Carlton - a club with the capacity to be a financial heavyweight - expect to be funded to the tune of around $10 million, essentially getting back most or all of the $2 million every club initially loses. The report also provides assurance that the City presents fairly its financial position as verified by independent auditors. In 2020 and 2021, the AFL covered travel costs for teams impacted by state border restrictions. We have wiped, I think, over $9 million of debt in the last decade. Australian Football League. Richmond and Collingwood will get reduced funding from the AFL. 2021 Annual Report. The clubs that think that theyve probably sacrificed too much already will want something else. AFL : 68.12 (-0.04%) UNM : 45.57 (+2.29%) The AFL has today forwarded its 2021 financial results to the Presidents and Chairs of the 18 clubs, in the lead-up to next months Annual General Meeting. FY 2021 (PDF, 381KB) HOT Report - FY 2020 . $85k-$100k base salary. A sell out Dreamtime game in Perth has helped Essendon post a $1.2 million operating profit for 2021 and emerge from a second Covid-stricken year bank-debt free. The outstanding financial result in a pandemic year has allowed the club, which now has the longest premiership drought in the game, to decrease its whopping debt to $9,562,300. Pert said the Demons had sold almost four years worth of merchandise in the month leading up to and after the clubs 2021 premiership success. St Kilda has reduced its debt by $4.3 million despite missing finals for the ninth time in 10 years in 2021. But the president, who has indicated he will start a process to identify his successor, said the club was in a strong position off the field. Statista. While the AFL recorded a cash surplus, the AFL's underlying operating loss for 2021 was $43.0 million, compared to an underlying operating loss of $22.7 million in 2020. 1 st in group. A F L A C Inc (AFL) - OFFERS CANCER, ACCIDENT, HEALTH, DISABILITY AND LIFE INSURANCE IN JAPAN AND THE U.S. GROUP LEADERSHIP. See the match report and stats here. In a statement on the club funding differences, an AFL spokesman said: We have a club funding model that is integral to the competitive balance of the competition and supports the notion of any given Sunday, and clubs get different levels of funding depending on their individual circumstances.. Our sponsors have also stood firm with us during another difficult year. Variable funding is the AFLs primary tool for evening up the competition financially and the league has increased the level of redistribution enormously since 2012, when St Kilda and the Lions were given several million fewer dollars than they were later granted from 2015-16, as Gillon McLachlan and his team increased subsidies to the poorer clubs. The AFL view is that the greatly reduced football department costs (the soft cap is still more than $3 million below the 2019 total of $9.7 million) means the rich clubs have been more profitable in 2021 and can afford the funding cuts. Under the redistribution, expansion clubs Greater Western Sydney and Gold Coast are set to be given a larger share of the allocation to the 18 clubs, compared to 2021 - a measure of the AFLs investment in those clubs and the time it will take for them to become independent.