MFC make $720k profit!

[Lucifers Hero 40,317]

http://www.melbournefc.com.au/news/2016-11-23/melbourne-register-third-consecutive-profit

Financial results extracts:

• Revenue grew by $3m up from $44.5, due to membership, sponsorship and gate takings.
• Membership grew to record levels: 39,255
• Strong home game attendances, which saw over 330,000 people attend our home games – an increase of 72,000
• Football Department spend grew by $635k during 2016
• Our overall debt position reduced by $561k in 2016, with debt reduction since 2013 totaling $2.7m.
• The Club received an additional $528k in AFL funding in 2016

I am rapt with this result.  Especially when compared to some of the 'power' or 'successful' clubs who are making losses or just tiny profits.  For example it staggers me that Richmond with 70,000+ members (double the number of mfc) can't make a profit! 

We are a very well run club and in 3.5 years Jackson has seriously turned us around.  Soon the AFL will not be able to ignore us and will have to start giving us some decent venue, prime FTA time slots and large Vic teams as home ground opponents.

That we have been able to turn the financial around with all the 'fixture' disadvantages is nothing short of a miracle!  Great work by PJ and co!

[Stinga2 194]

$720k profit. Excellent result.

Paid down $500k in debt too which is good. Didn't say what overall debt was though.

[Ron Burgundy 8,584]

Destination club.

 

[Dante 2,739]

The best thing about this is that the club no longer relies on donations from the foundation heroes to break even/make a profit.

I know some were critical of that in the past and it's good to know that the club is standing on its own two feet. We can grow to be a major club in the competition as long as we can continue to improve on the field and we can keep PJ onboard.

 

[Sir Why You Little 37,120]

1 hour ago, Dante said:

The best thing about this is that the club no longer relies on donations from the foundation heroes to break even/make a profit.

I know some were critical of that in the past and it's good to know that the club is standing on its own two feet. We can grow to be a major club in the competition as long as we can continue to improve on the field and we can keep PJ onboard.

 

Foundation Heroes Donations can be put in the Bank and make the club grow rather than just hang on. 

It's so nice to see sponsors resigning after 2-3 years rather than running away bitter or going under owing the club payments. 

They were dark times indeed. 

Edited November 23, 2016 by Sir Why You Little

[JTR 2,854]

1 hour ago, Lucifer's Hero said:

http://www.melbournefc.com.au/news/2016-11-23/melbourne-register-third-consecutive-profit

Financial results extracts:

• Revenue grew by $3m up from $44.5, due to membership, sponsorship and gate takings.
• Membership grew to record levels: 39,255
• Strong home game attendances, which saw over 330,000 people attend our home games – an increase of 72,000
• Football Department spend grew by $635k during 2016
• Our overall debt position reduced by $561k in 2016, with debt reduction since 2013 totaling $2.7m.
• The Club received an additional $528k in AFL funding in 2016

I am rapt with this result.  Especially when compared to some of the 'power' or 'successful' clubs who are making losses or just tiny profits.  For example it staggers me that Richmond with 70,000+ members (double the number of mfc) can't make a profit! 

We are a very well run club and in 3.5 years Jackson has seriously turned us around.  Soon the AFL will not be able to ignore us and will have to start giving us some decent venue, prime FTA time slots and large Vic teams as home ground opponents.

That we have been able to turn the financial around with all the 'fixture' disadvantages is nothing short of a miracle!  Great work by PJ and co!

$298k of which was received by ALL clubs, which I think is worth noting.

 

[In Harmes Way 7,823]

If I recall correctly, the club was anticipating a loss this year from last year with some write downs.

This is a stellar result.

[george_on_the_outer 7,693]

Agree...another simply stellar result.

PJ has completely turned this club around off the field.  And his influence has done much the same on-field. 

It is still small steps, but a similar increase in sponsorship, gate receipts, and membership next year would just about wipe out any remaining debt. 

With the exciting list we now have, there is every reason to believe the supporters are returning.  We have 5000 more members today than at the same time last year!

 

[Adzman 2,154]

Imagine being mentored by PJ! the man is a business stud!! I would love to spend a year by his side learning how he does things. Just an amazingly successful guy.

[mdemon 266]

Better start putting some money aside for the bronze statue of PJ that will now surely be erected outside the 'G' when he retires

[red and blue forever 1,041]

5 hours ago, Stinga2 said:

$720k profit. Excellent result.

Paid down $500k in debt too which is good. Didn't say what overall debt was though.

I was thinking the same thing and did a little searching    found this.

http://www.theage.com.au/afl/afl-news/afl-season-2016-debt-down-but-losses-mount-for-afl-clubs-20160206-gmnb1h.html

 

This seems to suggest a debt of $4.99mil as of February 2016  so about $4.5mil left

 

 

 

[Stinga2 194]

10 minutes ago, red and blue forever said:

I was thinking the same thing and did a little searching    found this.

http://www.theage.com.au/afl/afl-news/afl-season-2016-debt-down-but-losses-mount-for-afl-clubs-20160206-gmnb1h.html

 

This seems to suggest a debt of $4.99mil as of February 2016  so about $4.5mil left

 

 

 

Hopefully we can break the membership record again be in the hunt for finals to get the crowds up and make an even bigger profit. Would be good to wipe the debt out altogether.

The football department might save a few dollars without Roos wage bill.

 

[red and blue forever 1,041]

4 minutes ago, Stinga2 said:

 

The football department might save a few dollars without Roos wage bill.

 

Good point    

 

It certainly would be good to completely wipe the debt

[Pates 9,660]

Well done to all managing the club, brilliant work which I'm sure will get better with our team improving.

1 hour ago, Stinga2 said:

The football department might save a few dollars without Roos wage bill.

Very good point, I didn't even think about that but our senior coach bill should halve for the year roughly. 

[Uncle Fester 2,848]

Yay! Does this mean they can afford to refund my membership from the Neeld years?

[Satyriconhome 10,879]

10 hours ago, Adzman said:

Imagine being mentored by PJ! the man is a business stud!! I would love to spend a year by his side learning how he does things. Just an amazingly successful guy.

It's quite simple, he surrounds himself with the people he wants, tells them what is required and let's them get on with it, supporting them with whatever resources they need to achieve the outcome, and watching their back

[Bitter but optimistic 22,246]

11 minutes ago, Satyriconhome said:

It's quite simple, he surrounds himself with the people he wants, tells them what is required and let's them get on with it, supporting them with whatever resources they need to achieve the outcome, and watching their back

Just like that eh Saty?

I'll get right onto it. Should knock out my first corporate success in no time!

[Ron Burgundy 8,584]

6 minutes ago, Bitter but optimistic said:

Just like that eh Saty?

I'll get right onto it. Should knock out my first corporate success in no time!

Perhaps you've not worked in a corporate environment BBO.

What Saty has said is true. It should not be as remarkable as it is: get the right people, set role clarity, give the right people autonomy and resources, set clear standards and desired outcomes, and then ensure they achieve them.

PJ seems to do this.

 

 

[DEE fence 5,039]

14 minutes ago, Bitter but optimistic said:

Just like that eh Saty?

I'll get right onto it. Should knock out my first corporate success in no time!

As rare as hens' teeth.

[Lucifers Hero 40,317]

56 minutes ago, Satyriconhome said:

It's quite simple, he surrounds himself with the people he wants, tells them what is required and let's them get on with it, supporting them with whatever resources they need to achieve the outcome, and watching their back

Now that is the most underrated management skill but the most conducive to building trust and teamwork - in any organisation/ or group!

[Satyriconhome 10,879]

2 hours ago, Bitter but optimistic said:

Just like that eh Saty?

I'll get right onto it. Should knock out my first corporate success in no time!

I have only met 4 real managers/leaders in my varied working life, 2 were military 1 was a manager who managed with method above and PJ

[The Chazz 4,077]

Great result considering;

- Roos final year wage was still part of that (which some believe was too much)

- We saw an increase in home ground attendances, even though 2 of our home games were played in the NT (which some don't believe we should do)

- We basically have QBD game as the only home game where we host one of the "big" clubs

 

I'm actually amazed that some people haven't asked to scrap the NT deal completely, now that it seems we are making a profit each year...

[xarronn 384]

57 minutes ago, billy2803 said:

Great result considering;

- Roos final year wage was still part of that (which some believe was too much)

- We saw an increase in home ground attendances, even though 2 of our home games were played in the NT (which some don't believe we should do)

- We basically have QBD game as the only home game where we host one of the "big" clubs

 

I'm actually amazed that some people haven't asked to scrap the NT deal completely, now that it seems we are making a profit each year...

ANZAC eve game? That was our home game this year, probably accounts for most of the increase in home attendances.

[ox_5 163]

12 hours ago, Stinga2 said:

 

The football department might save a few dollars without Roos wage bill.

 

We might also see AFL distributions revenue reduce in line with the reduction in Roos wage bill. 

[Biffen 12,944]

Maybe we should spend it on new desks for everyone!!