TonyK
CibbuanoLions record financial loss
November 23rd 2009 07:50
BRISBANE has recorded a total financial loss of $603,207 for 2009.
The result includes a $75,000 grant to AFL Queensland to support grassroots community football.
However, despite the loss the Lions are debt-free and with net assets of just under $4 million.
Brisbane's on-field performances which saw them make the finals for the first time since 2004 resulted in a rise in gate receipts but it wasn't enough to cover the drop in corporate revenues due to the global financial crisis and a dip in the club's merchandise sales.
Lions chairman Tony Kelly said this year was always going to be a difficult one financially given the current economic climate.
"Recording a financial loss is always disappointing, yet there would be few major organisations that remained immune to the global market crunch and the worldwide recession," Kelly said.
"Members can be assured the club remains extremely diligent in its cost controls and continues to take active steps to grow revenues."
In some good news for Brisbane, the club's membership numbers went up from 22,737 to 24,873 this year.
The Lions are now aiming to reach the 30,000 member mark in 2010.
Brisbane's home crowds also rose from an average of 28,128 per game last year to 29,172 in 2009.
Meanwhile, the Lions recently revealed a new logo and announced major sponsorship deals with the Bank of Queensland and Conergy for the next three years.
The result includes a $75,000 grant to AFL Queensland to support grassroots community football.
However, despite the loss the Lions are debt-free and with net assets of just under $4 million.
Brisbane's on-field performances which saw them make the finals for the first time since 2004 resulted in a rise in gate receipts but it wasn't enough to cover the drop in corporate revenues due to the global financial crisis and a dip in the club's merchandise sales.
Lions chairman Tony Kelly said this year was always going to be a difficult one financially given the current economic climate.
"Recording a financial loss is always disappointing, yet there would be few major organisations that remained immune to the global market crunch and the worldwide recession," Kelly said.
"Members can be assured the club remains extremely diligent in its cost controls and continues to take active steps to grow revenues."
In some good news for Brisbane, the club's membership numbers went up from 22,737 to 24,873 this year.
The Lions are now aiming to reach the 30,000 member mark in 2010.
Brisbane's home crowds also rose from an average of 28,128 per game last year to 29,172 in 2009.
Meanwhile, the Lions recently revealed a new logo and announced major sponsorship deals with the Bank of Queensland and Conergy for the next three years.
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