TonyK
Tash Jayasinghe
CibbuanoHawks post record profit
November 12th 2008 06:15
HAWTHORN has capped off a memorable year by announcing on Wednesday that it made the greatest ever operating profit by an AFL club by posting a $4.054 million return for the 2008 season.
The Hawks, who claimed their 10th premiership against Geelong in September, now boast $13.6 million in assets.
In 2008 Hawthorn had 41,686 signed up members (a 34 per cent increase on 2007), merchandise sales increased 131 per cent on last year and its total attendance broke through the one-million mark for the first time.
The figures ensure a healthy start to the Hawks' ambitious 'five2fifty' business plan announced at last year's annual general meeting which hoped to win two premierships, ensure annual profits of over $2 million and attract 50,000 members by 2012.
Hawthorn president Jeff Kennett said these factors allowed the club to increase investment in the football department which was seen as a key reason behind the club’s on-field success this season.
"Last year we spent about 14.6 million (dollars) on football-related matters ... which is about 36 percent of our total ($40 million) turnover," Kennett said.
"That represents, if you take 2007, 2008 and what we're providing for in 2009, on average an uplift in the football department each year of approximately $2 million and that is quite a substantial uplift."
But Kennett admitted the club is close to its capacity in terms of football department employees.
"You can't keep growing it," Kennett said.
"It was only three or four years ago we were at the other end of the premiership ladder at the end of the home-and-away season."
"We finished this one on top. The difference is the support we're able to put into the playing group and to the coaches (in 2008) ... it's going to be hard simply to continually finance that increase."
Despite posting a record profit, Kennett said the club was far from 'bullet-proof' given the current global economic situation.
"I don't think you can ever be bullet-proof, with all the contracts you've got in place and certain circumstances (that may arise) if certain organisations fall over," he assessed.
"I think next year, for sport generally, it's going to be a challenging year and probably the year after."
"Obviously we want to be profitable (next year) but I'm not going to suggest to you what that profit line may be ... this is a year of no waste, (if) we're going to spend a dollar we've got to really ask ourselves 'is it justified?'"
Kennett also said he was insure whether the current economic situatuon will adversely affect the club's plan of signing up 50,000 members by 2012.
"We've just opened up our membership sales (on) the 1st of November for this year and they're going exceedingly well, we're very pleased with the reaction that we're getting," said Kennett.
"I think our target for this year is 47,500 with a stretch of 50,000 ... we're now going into our second year of that ('five2fifty' plan) so whether we get it this year I don't know but certainly the economy generally is going to impact on a lot of people, it's going to be a very testing year."
The Hawks, who claimed their 10th premiership against Geelong in September, now boast $13.6 million in assets.
In 2008 Hawthorn had 41,686 signed up members (a 34 per cent increase on 2007), merchandise sales increased 131 per cent on last year and its total attendance broke through the one-million mark for the first time.
The figures ensure a healthy start to the Hawks' ambitious 'five2fifty' business plan announced at last year's annual general meeting which hoped to win two premierships, ensure annual profits of over $2 million and attract 50,000 members by 2012.
Hawthorn president Jeff Kennett said these factors allowed the club to increase investment in the football department which was seen as a key reason behind the club’s on-field success this season.
"Last year we spent about 14.6 million (dollars) on football-related matters ... which is about 36 percent of our total ($40 million) turnover," Kennett said.
"That represents, if you take 2007, 2008 and what we're providing for in 2009, on average an uplift in the football department each year of approximately $2 million and that is quite a substantial uplift."
But Kennett admitted the club is close to its capacity in terms of football department employees.
"You can't keep growing it," Kennett said.
"It was only three or four years ago we were at the other end of the premiership ladder at the end of the home-and-away season."
"We finished this one on top. The difference is the support we're able to put into the playing group and to the coaches (in 2008) ... it's going to be hard simply to continually finance that increase."
Despite posting a record profit, Kennett said the club was far from 'bullet-proof' given the current global economic situation.
"I don't think you can ever be bullet-proof, with all the contracts you've got in place and certain circumstances (that may arise) if certain organisations fall over," he assessed.
"I think next year, for sport generally, it's going to be a challenging year and probably the year after."
"Obviously we want to be profitable (next year) but I'm not going to suggest to you what that profit line may be ... this is a year of no waste, (if) we're going to spend a dollar we've got to really ask ourselves 'is it justified?'"
Kennett also said he was insure whether the current economic situatuon will adversely affect the club's plan of signing up 50,000 members by 2012.
"We've just opened up our membership sales (on) the 1st of November for this year and they're going exceedingly well, we're very pleased with the reaction that we're getting," said Kennett.
"I think our target for this year is 47,500 with a stretch of 50,000 ... we're now going into our second year of that ('five2fifty' plan) so whether we get it this year I don't know but certainly the economy generally is going to impact on a lot of people, it's going to be a very testing year."
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