Hawthorn Football Club has announced a net operating profit for the year ended 31 October 2010 of $2,326,545 (2009: $2,724,245).
In announcing this result, Hawthorn President Jeff Kennett said “the Hawthorn Football Club has for the fourth consecutive season achieved a net operating result exceeding $2m, a key objectives as outlined in our five2fifty business plan.”
“The result is satisfying but there is still significant room for improvement in our business model,” said Mr Kennett.
“This profit continues to build some security for the Club to protect itself against the vagaries of life and the challenges of managing an AFL club in the current economic climate.”
“We will continue to invest into our football program and will challenge each and every individual to deliver the level of contribution required for the Club to achieve further premiership success,” Mr Kennett said.
Hawthorn Chief Executive Stuart Fox added “I would like to acknowledge our team effort in achieving this result, however, I expect the next financial year to be a challenging one.”
“We will continue to diversify our business portfolio and through good governance we aim to ensure we achieve the best possible outcome for the Club and our members,” continued Fox.
“I would encourage all members to renew their support for the Club in 2011 as their importance to our Club is greater than ever,” concluded Fox.
2010 financial results highlights:
- Membership: increased by 2.9% increasing to 54,473 (2009: 52,929 members). The Club became the first Victorian Club to achieve 50,000 members in consecutive years. Our membership support continues to grow each year in Tasmania with membership levels growing 12% from 7,335 in 2009 to 8,222 in 2010
- Turnover: stabilised in 2010 at $40,110,598 (2009: $40,111,316)
- Attendances: For the third consecutive year, average attendances at MCG Melbourne home games exceeded 50,000
- Tasmania: The Club’s relationship with the Tasmanian Government as its major naming rights partner and the Tasmanian Community continues to grow and deliver benefits to both parties. The Club is thrilled to have secured the recent extension of the partnership with the Tasmanian Government for a further 5-years (2012-2016)
- Corporate and fundraising: The Club experienced a net up-lift in our Corporate Sales revenues increasing its net revenues by 17%
- Football department: The Club continued to strongly support its Football department, with an investment of $16.98m for the season
- Community: The Club continued to invest and expand its Community programs throughout Australia; including Northern Territory, regional and metropolitan Victoria and Tasmania and also internationally with the New Zealand HANZ-UP! program
- Environment: Throughout the year the Club invested $800,000 and finalised its self-sufficient water solution for the Waverley Park precinct - The Waverley Park Water Harvesting project
- Facilities: The Club continued to develop its Waverley Park headquarters with completion of an expanded administration and football department facilities, investing close to $2m. The football department facilities upgrade included a significant expansion to the players’ locker room and facilities for Player Development and Welfare areas.
The 108th Annual General Meeting will be held at the Hawthorn Town Hall on Wednesday 15 December. The meeting will commence at 7pm, find out more
