Despite the heavy hit of $ 1,574,762 to the club's bottom line, the results for the financial year ending October 31 are an improvement of close to $1 million on the previous year.
The club's football department expenditure went up by $100,000 to $17.3 million.
Lions chairman Bob Sharpless said the club was two years into a five-year plan aimed at delivering "long-term sustainable earnings and on-field success".
He said the improved financial position, matched with another 10-win season, was reason for optimism.
Sharpless said the appointment of Justin Leppitsch as senior coach, Peter Schwab as head of coaching and development, and Simon Black as an assistant coach, were all significant steps.
Following the sacking of Michael Voss as coach in August, the Lions were tipped upside down with a board upheaval that resulted in the appointment of Sharpless to replace Angus Johnson, and the addition of Leigh Matthews.
Sharpless said the club still had issues to resolve.
"Issues around the club's playing guernsey, replacing the logo with the Fitzroy and triple-premiership lion as soon as is reasonably practicable, and granting life members the same rights and privileges as full members, will both be addressed at the Annual General Meeting on December 18," Sharpless told lions.com.au.
Twitter: @AFL_mikewhiting
