I am writing to inform you that this year’s financial results have been finalised.
Brisbane Lions AFC has incurred a net operating loss of $2,513,262 for the financial year, ending 31 October, 2012.
The figure resulted after depreciation and interest costs, predominantly relating to our Club’s major long-term investment, the LIONS@springwood entertainment venue.
The key points of the 2012 Financial Report are:
• Total Club turnover of $43.9 million
• Football department expenditure of $17.2 million
• Social Club turnover of $13.7 million
As you’re aware, our Club is in the first year of a five-year strategic plan, which is aimed at delivering long-term sustainable earnings and on-field success.
While we are still some way from achieving our aim, we have taken a number of significant steps towards this, including improvement in on-field performance, which resulted in the team increasing its wins from four in 2011 to 10 in 2012. The continued development of such a young list is critical to our Club’s progress - and to the growth of the AFL in Queensland.
Insurance giant and Suncorp Group’s brand, Vero, was also recently unveiled as our Club’s co-major partner for the next four years.
Importantly the AFL is fully supportive of our Club as well as the role it continues to play in a critical emerging market for the code.
LIONS@springwood continues to be a financial success story for our Club. The venue - an outstanding community asset and source of employment in the Logan region - recently saw its 100,000th member join the Club, an excellent achievement for all involved and genuine reflection of its popularity.
The aggressive repayment program for the debt relating to LIONS@springwood continued over the past 12 months.
The ongoing support of our members and corporate partners is critical to our Club’s financial health and our ability to achieve long-term objectives and we thank them for that support.
On behalf of the Board, I’d like to thank all of our 2012 members and corporate partners, as well as those that have already jumped on board in anticipation for the start of the 2013 AFL Season.
Membership has never been more affordable or easier to purchase for our Lions members with the Club’s membership mini-site membership.lions.com.au recently upgraded.
It’s BECAUSE of our members and partners that we continue the hard work required to return our Club back to where it belongs.
Go Lions.
Yours sincerely
Angus Johnson
Chairman - Brisbane Lions
