THE administration of the Port Adelaide Magpies Football Club is set to move to Alberton Oval after a 14 year enforced absence.
The SANFL Magpies will take up residence in the Port Club facility at Alberton Oval later this year following a deal brokered by the Power with the cooperation of the SANFL and the Port Adelaide Enfield Council.
The move will save the Magpies considerable operational costs each year.
The Power and the Magpies have also agreed for the Power to assume control of the Magpies’ 25% share of the Port Club social facility, delivering the Magpies a significant cash amount up front and extinguishing its debt to the Port Club.
The Port Club arrangement - initiated at the request of the Magpies - is a key to the SANFL club’s bid to ensure it continues to play in 2011 and beyond.
It will also assist the cash-strapped Magpies to retain ownership of the Prince of Wales Hotel and its 33 gaming machines, seen by the Magpies board as critical to the club’s long-term viability.
The Port Club arrangement must be approved by Port Club members - the combined membership of the Power and Magpies - at a special meeting to be held on June 9.
Port Adelaide Magpies President Mr John Firth says both the move of the Magpies to Alberton and the Port Club deal are great outcomes for the club.
“To finally move back to Alberton after 14 years, with the full cooperation of the Power and the SANFL, will be a great outcome,” Mr Firth says.
“We will also benefit financially in a significant way, which is critical to us as we continue our efforts in establishing a sustainable model for continuing on-field in 2011 and beyond.
“Not only will we receive a significant cash amount to reduce our debts, it will also help us to retain the Prince of Wales Hotel and its gaming machines, which is a real key to our long-term survival.”
The Port Club move also provides commercial flexibility for the Power regarding the Port Club’s 40 gaming machines, which it is exploring moving to a higher-traffic location. This is part of the Power’s long-term revenue strategy.
Other elements of that strategy include:
- Potentially developing commercial land within the AAMI Stadium precinct
- The club’s Northern Territory expansion, and
- A potential move to Adelaide Oval.
“This arrangement fits with our long-term commercial strategy and - importantly - is also of immediate benefit for the Magpies,” says Power Chief Executive Mark Haysman.
Those moves are additional to the Power’s concentration on increasing its membership, attendances and corporate partnerships.
The Power’s crowds are up almost 9% on last year, comparing like games, and the club’s membership is up 2% (excluding SANFL stadium memberships).
The club has also increased its number of Premier Partners from four to six, and increased the club’s total number of corporate partners and coterie sponsors (Powerbrokers) by more than 16% to some 150 businesses and individuals.
