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Richmond Football Club posts $217,727 Profit

turk-d-tiger

Welcome to Richmond Football Club - Daniel Rioli
Dec 1, 2007
3,469
701
melbourne
Richmond Football Club has announced an operating profit of $217,727 for the financial year ended 31 October.

Total revenue for the year was $74 million which represented a 20% decrease year-on-year.

Richmond President Peggy O’Neal said it had been a challenging year on and off the field in 2020.

“Club revenues were severely impacted by COVID,” O’Neal said.

“Most significant was the loss of gate receipt revenue and the reduction in AFL club distributions. Our subsidiary business – Aligned Leisure – was also impacted with its health and recreation facilities closed for large periods during the year,” O’Neal said.

“Unfortunately, the impact of COVID meant we had to restructure the Club, resulting in many redundancies. These were heart-breaking decisions. We wish each of those staff members the very best for the future and thank them for being an important part of our Club.

“Of course, it was the magnificent Tiger Army that was the cornerstone of the Club’s ability to withstand the financial impact of COVID. Our final membership number of 101,174 was simply remarkable and a tribute to their commitment and loyalty.

“Our sponsors have also stood firm with us during this most difficult of years. The willingness of our partners to work with the Club, to be flexible and innovative, has been the key to delivering shared value. We look forward to these partnerships flourishing long into the future.”

O’Neal said it was also important to recognize the important role the Richmond Institute has played to help fulfil the Board’s commitment to diversifying revenue streams.

“The Institute is a unique and innovative education offering that has expanded to regional Victoria. Its students numbered 316 this year, representing growth of 59% year-on-year,” O’Neal said.

“Richmond also remains fully invested in its social impact programming – it is at the heart of our purpose as a football club.

“The Korin Gamadji Institute, the Bachar Houli Foundation and our preferred charity partnership with the Alannah and Madeline Foundation are central to much of that work. It was a difficult year for these programs and partnerships as well, but they continued to find ways to reach young people and to improve lives. “
 
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eddazol

Tiger Matchwinner
Sep 22, 2014
903
731
It is a great result to make a profit this year.
Can’t imagine what the financial results will be for clubs with lower membership numbers.
 
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The Kop

Tiger Cub
Jul 15, 2012
50
60
That result includes over $10m in job keeper - this really needs to be called out not because the club would have been in the red significantly without it but it highlights just how big an impact Covid has had on the industry this year - would be interesting to see what other clubs generated in job keeper
 
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turk-d-tiger

Welcome to Richmond Football Club - Daniel Rioli
Dec 1, 2007
3,469
701
melbourne
That result includes over $10m in job keeper - this really needs to be called out not because the club would have been in the red significantly without it but it highlights just how big an impact Covid has had on the industry this year - would be interesting to see what other clubs generated in job keeper
Wow thats huge $10 mil in Job Keeper , Not sure if thats football related expense
probably for the other businesses the club owns
 
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The Kop

Tiger Cub
Jul 15, 2012
50
60
Big fall in cash. There was a significant investment - anyone know whatbit was for?
Looks like they just banked the job keeper! Interestingly if you look at the cash flow statement the club also broke even on cash (when you add back the investment which I assume is just cash on deposit) which is more remarkable than the profit result
 
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LeeToRainesToRoach

Tiger Legend
Jun 4, 2006
29,533
7,406
Melbourne
What’s the prize money for winning the premiership?
Usually you get $1.2m for winning which Big Richo explained is more to cover finals costs than "prizemoney". An August article said prizemoney to finalists was going to be cut in line with other reductions, but didn't mention a figure.
Was a bit premature of GWS to be talking about finals prizemoney!
 
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Mr Brightside

Tiger Legend
Jul 1, 2005
20,734
4,031
Wang
No matter which way it’s looked at , any profit is outstanding, so many business have gone klapop this year .

There hasn’t been a year like this , we made profit , won the Premiership, what more could the members ask for
 
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zippadeee

Tiger Legend
Oct 8, 2004
34,053
9,164
How good is this joint going?
Profit during this season is an unbelievable achievement.
That's what happens when you have the right people at the helm
 
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jb03

Tiger Legend
Jan 28, 2004
28,347
3,057
Melbourne
Fantastic effort but might be time to bail on Allied Leisure. Clubs in the AFL historically struggle when investing outside the core business.
 

caesar

Tiger Champion
Feb 9, 2015
4,317
4,859
Fantastic effort but might be time to bail on Allied Leisure. Clubs in the AFL historically struggle when investing outside the core business.

Yet they bid on and won 5 new licences this year, I hope they know what they're doing?
 
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year of the tiger

Tiger Legend
Mar 26, 2008
7,203
2,061
Tasmania
No matter which way it’s looked at , any profit is outstanding, so many business have gone klapop this year .

There hasn’t been a year like this , we made profit , won the Premiership, what more could the members ask for

There were years when we couldn’t make a profit when the industry was booming so to do it this year speaks volumes for those involved.
 
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