RFC makes a profit for 2008

[one-eyed]

The Tigers are heading for a profit this season of about $700,000

http://www.theaustralian.news.com.au/story/0,25197,24437821-16143,00.html

[Smokey]

Not a bad effort with everything that is going on in the big wide corporate world.  Steady, sustainable profits that meet budgeted expectations every year means sound financial management and adherence to the plan by all concerned.  Now, if we can just match that same performance and attitude in the football department we will be well and truly on the path to redemption.   

[sugark]

I suppose a 5 out of 10 considering alot of our competitiors are making $2million plus profits

[mightytiges]

LOL sugark 

A pleasing result in terms of our 4th straight profit although on SEN this morning they were saying we still owe $4m. We are putting $$$ into both redevelopments at Punt Rd and Craigieburn so they are significant short term expenses which will benefit us greatly long-term.

[bojangles17]

we made 3 key appointments in 2008 that significantly increased our cost base

Craig Cameron ..List Mgr
Jeff Bond Player Development
Commercial ops Mgr

This would amount to more than 600K that we didnt account for last year...to still realise a 700k profit without a finals appearance, we're doing extremely well

[Chuck17]

Final profit numbers in
http://afl.com.au/AFL2008/News/Article/tabid/208/default.aspx?newsid=69981

Richmond Football Club is pleased to announce its operating results for 2008.

The Club has recorded a net profit of $8.01 million, which includes significant revenue received from the Federal and Victorian State Governments for the redevelopment of Punt Road Oval and the creation of the Australian Institute for Indigenous Learning and Development.

When the figures are adjusted for these grants and other one-off items, the profit from football operations is $395,000.

[Ramps]

continuing my policy of giving credit when credit is due, I think its fair to say that its another outstanding result, the administration led by Steve Wright has done a very very good job in tough circumstances and with the team still not making finals. Well done to all.

[mightytiges]

Great news especially as we're maintaining good profits while adding more resources to our footy dept. Well done to all at the RFC  . Smart of the club too to state publicly we have 39,000 members in total  .

[Fishfinger]

Smart of the club too to state publicly we have 39,000 members in total  .

Better than smart. It's a fact. 

[one-eyed]

Tigers money makers for fourth straight year
Jon Ralph | November 22, 2008

RICHMOND yesterday announced its fourth consecutive profit as it declared its confidence in finding another major sponsor by Round 1.

The Tigers shored up their financial success by notching a $395,000 profit, before factoring in funding from state and federal governments.

The club declared a paper profit of more than $8 million, but almost all of that money will go into its Punt Rd development and the creation of an indigenous learning institute.

It is an excellent profit considering an extra $1.4 million was pumped into the football department this year.

While the Tigers are still searching for another major sponsor to replace AFG (Australian Finance Group), the club believes its future is still bright.

Richmond chief executive Steven Wright said the club was planning to make a profit next year, as well as find a major sponsor.

"We are certainly pleased, given the tough economic conditions. We have been able to increase spending in football significantly yet still record a profit. This keeps us on an even keel going forward," Wright said.

"There seems to be a misunderstanding that we don't have a major sponsor. We do have a major sponsor in Dick Smith.

"We are looking for a second major sponsor and we have a number of excellent leads in that area."

Wright said the prospect of having no replacement sponsor by Round 1 was unlikely.

"We are confident we will certainly have a partner by that stage. It's a tough climate but we are pursuing all options and we have certainly got a couple of good leads at the moment we are working through. We believe we can bring great value to companies," he said.

As recently as this month the Tigers felt they had nailed down a major sponsorship with global insurance group AIG (American International Group).

It pulled the pin when the financial crisis hit, with the Tigers working hard to find a replacement.

Wright said the club had still budgeted for a profit next year, albeit a modest one.

The club has done well to turn around its finances, with the Tigers at rock bottom as recently as 2004.

In that year the Tigers lost $2.19 million.

Since then the profits have been strong, including 2005 ($40,000), 2006 ($948,000), and 2007 ($1 million).

http://www.news.com.au/heraldsun/sport/afl/story/0,26576,24687689-19742,00.html

[one-eyed]

Tiger millions not so great
Adrian Lowe | November 22, 2008

RICHMOND has posted its fourth successive end-of-year profit, with membership for the 2008 season also increasing.

The club yesterday announced a net profit of about $8 million but the club's profit from football operations was a more realistic $395,000.

The additional income came from government grants, provided for the Punt Road oval redevelopment and creating the Australian Institute for Indigenous Learning and Development, announced earlier this year by Deputy Prime Minister Julia Gillard.

Memberships, ticketed and non-ticketed, rose to about 39,000, up 4% from 2007.

Chief executive Steven Wright said the club would be conservative in its budgetary planning for next year but expectations remained that a profit would be made.

"It's not so much less expenditure, it's just revenue," he said. "We're not predicting growth in areas of our business; in other areas we have had growth."

Talks were progressing with companies interested in becoming Richmond's second principal sponsor after AFG ended its deal with the club this year.

http://www.realfooty.com.au/news/news/tiger-millions-not-so-great/2008/11/21/1226770744433.html

[WilliamPowell]

"There seems to be a misunderstanding that we don't have a major sponsor. We do have a major sponsor in Dick Smith.

"We are looking for a second major sponsor and we have a number of excellent leads in that area."

Wright said the prospect of having no replacement sponsor by Round 1 was unlikely.

 

Smart move also to state publicly that we do have a major partner.... should have said that weeks ago

I know I did

[mightytiges]

Hopefully being a young side on the rise we can still attract more non-member supporters to jump on board the bandwagon despite the financial downturn.  It's important to be a member for finals tickets if we make the grade next year. It's vital we start well on-field next season and keep the tiggy train momentum going.

I'd hate to be Melbourne now and no prospect of finals for a few years. If these clubs with small supporter bases have a few poor years in a row the relocation issue will crop up again.

[Chuck17]

We're going much better than some, nice how their chariman adds the X factor bit, maybe X for xtra vice captains. 

Still I reckon these losses would pale into insignificance compared to a Western Sydney team even after it was established for 20 years or so

http://www.livenews.com.au/Articles/2008/12/10/Lions_announce_22m_loss

The Brisbane Lions have announced losses of more than two million dollars, blaming the global economic downturn for having a major impact on the AFL club's shareholdings.
Despite making a trading operating profit of $128,290 for the 2008 financial year, the Lions suffered an overall loss of $2.2 million.
Despite the financial deficit, Lions chairman Tony Kelly said he remained optimistic for the 2009 season.
"Recording a financial loss is always disappointing, yet there would be few major organisations that have remained immune to the crunch in global markets and growing worldwide recession," Kelly said in a statement.
"(But) I think the Lions are the real 'x-factor' team for season 2009 with new senior coach Michael Voss at the helm alongside sole club captain Jonathan Brown and his four new vice-captains."

[Stripes]

I would like to see the northern teams successful off-field in the next few year. Unfortunately for the Tigers, financial success usually mimics on-field success so if I was to get my wish then Richmond would have them to compete with.

All the same, it might be a pipe dream, but a strong Queensland and NSW presence and rivalry would see the AFL expansion plans flourish.

Stripes