Collingwood has posted a massive post-premiership profit of more than $6 million after on-field success, huge crowds and membership increases helped boost the club’s revenue by more than $15 million.
The Magpies have announced an operating profit of $6,008,327 for the financial year, and a statutory net profit of $7,565,982 – which includes “non-recurring government grants”.
The grand final win has had a positive influence on Collingwood’s finances. Credit: Paul Rovere
The Magpies, who enjoyed record crowds and fan participation in their premiership season under Craig McRae, increased their revenue – not counting government revenue and abnormal items – from $66 million in 2022 to $81 million this year.
Membership and match-day revenue contributed a staggering $35.6 million in revenue, as the membership swelled to 106,470 and AFL home and away attendances reached 1,385,827 (for 23 games) – both AFL records. All told, they played in 16 of the top 30 attended games this year, counting their three finals.
While they did not highlight it in their annual report, the Magpies also decided to cease fielding an elite netball team in Super Netball, which had been losing money.
The Magpies were also the most watched team on television, with a peak audience of 14.5 million for the men’s team and boasted the largest social media following (1.3 million across the main platforms) in the competition.
Collingwood president Jeff Browne.
Collingwood increased its asset base to $57 million, up from $49.4 million, including $16 million in cash. They earned revenue of $6.5 million from their function centres (up $1.33 million).
President Jeff Browne said, while the premiership had a positive effect on Collingwood’s financial position, the club wanted to remain financially strong regardless of on-field results, flagging that the Magpies would continue to invest in their men’s and women’s football programs.
“Over the last couple of years, we have gone through a significant amount of positive changes which has culminated in AFL premiership success – it is important to note that, while the grand final has had a positive impact on the club’s financial result, we aspire to ensure our club is financially strong no matter our on-field results,” Browne said, thanking members for their “unwavering commitment”.
“This strong financial position will allow us to continue to invest more in the following key pillars of our club; our elite men’s and women’s football programs, our facilities and our community programs – the Magpie Nest program, which currently has 43 houses, while Magpies Nest Cafe has served over 120,000 meals this year. As a club, we will place greater focus on growing multicultural and Barrawarn Indigenous programs.
“A strong financial position also enables us to continue to upgrade our facilities to ensure they are at the forefront of the competition and allow our men and women athletes to be at their best on and off the field.”
