COLLINGWOOD has posted back-to-back financial setbacks totalling $5.36 million, after announcing a $2.73 million loss for the 2017 financial year.
The final result was a loss of $2,732,624, which followed the loss of $2,622,623 in the 2016 financial year.
The club's operating profit was $1.65 million before depreciation in the value of the Glasshouse and redevelopments at the Holden Centre was taken into account.
It has been a turbulent few years for Collingwood, which on Thursday appointed former Swimming Australia CEO Mark Anderson as its new CEO.
Anderson will replace Gary Pert in the role, who stepped down after 10 years in the job.
The Magpies finished 13th this year and 12th in 2016, winning nine games each season. Coach Nathan Buckley was given a two-year contract extension in August after a review of the football department.
Collingwood have invested heavily into expanding the club, recently adding an AFLW, VFLW and Super Netball side.
The club's membership increased slightly to 75,985 this season, up from 74,819 – the highest in the League.
