The objective was to raise $6 million to enable the Club to make the required investment in its football program and to reduce the burden of debt.
In its first year, the FTF raised just over $3.2 million, thanks to some major donations and the generous support of coterie members, Tiger members and supporters.
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The Club reduced its debt by $1 million, and works will shortly begin on delivering a state-of-the-art reconfigured, resurfaced Punt Road Oval. When finished, the oval will be the same size as Etihad Stadium.
This, combined with the relocation of the Richmond Cricket Club and the development of the ME Bank Centre, has ensured Richmond has made significant progress.
Tonight, Richmond held its second Fighting Tiger Fund Dinner. The Club took another enormous step forward, and is now within touching distance if its $6 million target.
A further $2.3 million was raised, thanks to the outstanding support of several key donors, and the 150 people in the room. The FTF tally now sits at $5.5 million.
“Tonight has been a truly memorable night for the Richmond Football Club,” said Richmond president Gary March.
“It has provided us with a genuine opportunity. We now have a lot of hard work ahead of us to make the most of the opportunity that has been provided to us, thanks to the generous support we have received.
“The board and management identified the Fighting Tiger Fund as a critical undertaking if we were to break out of the cycle of mediocrity and give ourselves the chance to not only compete, but to win."
The Richmond board identified a number of key investments the Club needed to make when it launched the Fighting Tiger Fund. The Club needed to:
• Continue to invest in its recruiting and list analysis structure, so we can continue to build the depth of our playing list.
• Build its financial muscle to allow us to effectively manage total player payments and, in turn, ensure we are well-positioned for free agency.
• Invest in its high-performance program, which required an investment in equipment and coaching and development staff.
• Develop its second-tier structure to fast-track the development of younger players.
• Continue to reduce the burden of debt to allow us to pay 100% of the salary cap and be favourably placed for the introduction of free agency.
“All of this was about building a Club that can develop an era of sustained success and, of course, all of this requires financial support,” March said.
“I am very pleased that we are drawing so close to our final target.
“We had some individuals make some very significant donations tonight. They don’t wish to be identified, but they know who they are, and we will be forever grateful for the magnificent contribution they have made.”
