Richmond will report a profit of $3.06 million for the financial year ended 31 October.
The Club’s operating surplus was $4.31 million, before amortisation and depreciation.
Richmond generated total revenue of $65.2 million, an increase of $17.6 million year-on-year.
This significant growth in revenue is due to increased crowds and sponsorship, as well as sales of merchandise and memorabilia. It also includes a full year’s operation of the Club’s health and recreation business, Aligned Leisure, which expanded further in 2017 to include management of the Eltham Leisure Centre.
The Richmond Institute of Sports Leadership (RISL) – delivered in partnership with Swinburne University – has also contributed to Richmond’s revenue growth.
Richmond president Peggy O’Neal said the Club was in an extremely strong financial position.
“We remain debt free, have cash reserves of $9.88 million and a strong net asset position of $27.15 million,” O’Neal said.
“This position has been hard-earned and we will continue to make considered decisions to protect and enhance our financial position.
“While football is our core business, and always our number one priority, we continue to invest in the community.
“Our charity partnership with the Alannah & Madeline Foundation, and our work with Indigenous youth in the Korin Gamadji Institute are genuine examples of ways in which the Club is committed to making a difference in our community.
“Richmond is now the first AFL club to sponsor the Midsumma Festival – again underlining our authentic commitment to diversity and equality. I know that members and supporters are proud of the Club’s genuine contribution to the community.”
2017 statistics:
- Total home and away crowds in excess of one million (AFL number one)
- Average home crowds of 55,958 (AFL number one and Club record)
- Five games were played in front of crowds in excess of 85,000
- Dreamtime at the ‘G and Anzac Eve games were the 5th and 6th highest home crowds in Club history
- Seventh consecutive record membership 75,777 (AFL 3rd )
- Home and away TV audience in excess of 11.8 million
- Record sponsorship revenue
