ADELAIDE'S lack of on-field success in 2013 has been reflected by a record financial loss of almost $1.9m.
It is just the second time in the club's history that it has announced a yearly financial loss, after a deficit of $882,130 was recorded in 2010.
The mammoth $1,879,341 loss takes into account depreciation, costs associated with the move to Adelaide Oval and legal fees and fines associated with last year's Kurt Tippett scandal.
Despite the loss, the club insists its balance sheet remains healthy, with net assets totalling $16.8m and debt remaining at $1m, consistent with 2012.
Crows Chairman Rob Chapman described the financial loss as an expected "one-off".
"This is a difficult result to accept, however we always envisaged that the final year at AAMI Stadium would be extremely challenging and budgeted accordingly," Chapman said.
"The bottom line is that we continue to be financially strong on the back of multi-million dollar surpluses in the mid-2000s. The past couple of years have been tighter and this result is very much a one-off.
"Compounding the result were abnormal expenditure items relating to the AFL sanctions and bringing forward investments in our club to ensure we maximise the opportunities that the move to Adelaide Oval provides."
The Crows saw a dip in attendances through 2013, with Chapman partly blaming poor weather.
He said that upon the move to Adelaide Oval and beyond, the club could expect to rebound from the loss and register substantial financial gains in years to come.
"Our forward projection into 2014, and the following two years, is that we will be back into strong surpluses, such that the club again establishes healthy cash reserves while still investing heavily into the football program and growing the club," he said.
"To underline this point, the future at Adelaide Oval is already very promising with corporate inventory and membership selling very strongly."
