PRESIDENT’S REPORT
The 2018 season was one that we can all look back on with a sense of pride.
While the season did not finish as we would have liked, it should not detract from the efforts of the players and coaches to defend our 2017 Premiership. Winning 18 games during the home and away season and winning the minor Premiership, reflected a team that was fully committed to each other and our Club. On behalf of all members, I thank them for their efforts. Our football program continues to make us incredibly proud.
In 2018, the Club took a significant step forward by fielding its first women's team and participating in the VFLW competition. Our team won four games in its inaugural season and established a sound foundation for the future. We look forward to further development of our women’s program in 2019 as we prepare to enter the AFLW competition in 2020. Congratulations to all involved in 2018.
Off-field, the Club will report a profit of $4.21 million for the financial year ended October 31. The Club’s operating profit was $5.54 million before amortisation and depreciation. The Club generated total revenue of $79.8 million, an increase of $14.6 million year-on-year.
A number of factors delivered this excellent result including record membership, crowds and sponsorship.We became the first Club in AFL/VFL history to reach 100,000 members. Richmond supporters are now without question the most loyal, passionate fans in the AFL and we thank you for the strength you give us both on and off the field.
Further growth in the Club’s health and recreation business, Aligned Leisure (AL), also added to our operating result.
In 2018, AL successfully tendered for management rights to facilities in Albury/Wodonga, and more recently in Mildura, with the Mildura contract commencing in the first week of November. The Richmond Institute of Sports Leadership (RISL) – delivered in partnership with Swinburne University – also continues to grow. Its syllabus now includes international learning experiences making it a truly unique educational experience.
Both AL and RISL were key undertakings of the Board to ensure we diversified the Club’s revenue streams so as to reduce our reliance on football-generated revenues. It is pleasing to see both operations performing so strongly.
All of this leaves the Club in a very sound financial position and we will continue to manage operations and evaluate opportunities sensibly to underpin this position long term. We remain debt-free with cash reserves of $13.7 million.
As our members and supporters would be aware, the Club invests significantly in our community programming and partnerships.
Our charity partnership with the Alannah and Madeline Foundation (AMF) is something we value enormously. The AMF works to protect children from violence and bullying, and this year the Club will donate in excess of $200,000 to this worthy cause. Our special AMF Club membership campaign, our strong merchandise sales and the AMF guernsey auction raised the bulk of this money. Thanks to our members and supporters who help us make such a significant contribution. The Club has now raised in excess of $750,000 since we established our AMF partnership six years ago.
The Korin Gamadji Institute (KGI) also continues to work relentlessly with Aboriginal and Torres Strait Islander youth. It is important work and central to the Club’s Reconciliation Action Plan (RAP). We remain the only sporting club in Australia to have its RAP recognised as being in Elevate status for its demonstrated leadership.
Our commitment to diversity and inclusion saw the Club enter a team in the inaugural Victorian Wheelchair Football League and renew our sponsorship of the Midsumma Festival. The Club also continued to deliver the Bachar Houli Academy in partnership with the AFL and, for the first time, the Academy included female participants.
2018 Highlights
The following 2018 numbers give a snapshot of the tremendous work done by the Club and the tremendous support given to the Club by members and supporters:
* Total home and away crowds of 1.19 million (AFL number one)
* Average home crowds of 61,175 (AFL number one)
* Seven of the top 10 crowds featured the Tigers
* Attendance of 90,151 vs Carlton was our third highest home and away crowd ever (12th highest in AFL history)
* Home and away TV audience of 14.0 million (AFL number two), 19% up on 2017
* Eighth year of consecutive record membership
* Membership 100,726 - first club in AFL / VFL history to reach 100,000 members
Appreciation
While we appreciate all members and supporters, I'd like to make special mention of the following:
* Thank you to our joint major partners Jeep and nib. Both are incredibly important to our Club and we look forward to these partnerships continuing long into the future.
* Thank you to our naming rights and education partner, Swinburne University. We have only been working together for two years but are very excited by the many opportunities for us in the future.
* Thanks also to our 35 partners, both existing and new, including Puma, Hostplus, National Storage, United, Probuild, AG Coombs, Goodyear, Otterbox and Victorian Responsible Gambling Foundation.
* We also appreciate our community partners including VicHealth, Plenary, Tandem, the Victorian Electoral Commission, Culture is Life and the Australian Defence Force.
* Bang & Olufsen were the Club’s shorts partner for the past two years and, while they won’t be continuing beyond this year, we sincerely thank them for their support.
* Our coterie groups provide outstanding support to the Club. Thanks to our Coaches Coterie, Jack’s Club, Legends Club, Richmond Executive, Inner Sanctum, 3121 and Player Sponsors.
* A round of applause for the cheer squad that continues to provide great banners each week as well as great support for the team and the entire Club.
* We also acknowledge the hard work of our supporter groups all around the country that keep supporters connected to their Club.Thank you also to the Tommy Hafey Club, the Former Players and Officials Association and Club 80.
* Thank you to my fellow Board members. I would particularly like to mention Vice-President Rob Dalton who retires as a director at our 10 December AGM. He has been an invaluable Board member for the past 14 years and indefatigable in chairing the Finance Committee. Rob's sole focus has been to ensure that the Club is built on a solid financial foundation and we wouldn't be where we are without him.
* And last but not least, thanks to our CEO Brendon Gale, management and staff. Any organisation is only as good as its people and I think we are incredibly fortunate to have such capable people at the Club.
While the 2018 season didn’t deliver a premiership, everyone at the Club is committed to taking us there again in 2019. We will continue to give our players and coaches every support in achieving this ambition. I would like to take this opportunity to wish all our members and supporters a safe an d enjoyable holiday season and I look forward to seeing you in season 2019.
Go Tigers
Peggy O’Neal
President
Source: Richmond FC 2018 Concise Financial Report
