The loss includes depreciation of $550,000 and a provision of $370,000 in relation to CLUB SWANS, a related entity.
"The result, whilst again disappointing, was consistent with the previous year and reflects in part the continuing impact of the difficult economic environment, particularly on membership, match day attendances and corporate hospitality," Sydney Swans Chairman Richard Colless said.
The Club missed the finals for the first time in seven years and this also impacted the bottom line.
"During these difficult times we have been really appreciative of the continuing support from our core group of sponsors and members,” Colless added.
“As we head into 2010 our focus is clearly on growing our membership base and improving our services for these valued members.
“In conjunction with the AFL we are investing additional resources in membership and fan development and improving the overall match day experience with a view to building crowds at all of our games.
“On Football matters, the Club is really pleased with its trade and draft selections and with 13 new players out of a full squad of 45 we are cautiously optimistic our on-field performance will improve in 2010.”
