This figure is after payment of a $588,000 annual licence fee to the SANFL.
Adelaide Football Club Chairman WB (Bill) Sanders, who is delivering his last financial report as Chairman, said: “Overall, the Club remains in a relatively strong position. We are being challenged in every way though, as is the rest of the corporate world, and the next couple of years will be very important in terms of maintaining our current levels of support.
“Our 2008 result is a reflection of excellent financial management at Board and executive level, and allows us – per our plans and budget – to invest more into the facilities currently under construction, for the benefit of everybody involved with the Club.”
Club Chief Executive Steven Trigg added: “The next couple of years, with government grants, a writedown of the old facility, and differing depreciation schedules will inevitably produce some abnormal figures to be reported.
“In terms of operating surplus in 2008, we’ve arrived at a result marginally ahead of budget – with credit to the management team and our Board.
“As reported last year, the ‘belt has been tightened’ as growth continues to be a key issue for the Club. As we go forward, and especially in the context of the current economic climate, we need to work harder and smarter than ever before to achieve that growth in revenue.
“Every member, ticket holder, corporate supporter and high end Partner is vitally important to us; and we thank those people and organisations who were with us in
’08, and urge their renewal into ’09 as we also face up to the tightest year (budget-wise) for over a decade.”
