The Port Adelaide Football Club has announced an operating profit of $3,463,552 for the financial year ending 31 October 2022.

This result was led by strong growth across commercial partnerships, match day hospitality, membership, and gate receipts. Operating revenue increased by almost $8m, to a total of $57m.

The positive outcome also enables the club to pay down a further $2.5m of debt, resulting in a total reduction of almost $6.0m in two years.

Highlights of 2022 PAFC Financial Result:

  • Revenue up 16 per cent to $57.1 million.
  • $2.5 million in debt repayments (2021; $3.3m).
  • Total assets of $45.6m (2021; $39.9m).
  • Strong balance sheet with Net assets of $17.1 million (2021; $14.9m).
  • In addition, capital grants recognized for facility redevelopment of $3.554m (2021; $0).
  • Resulting in a consolidated profit including grant revenue of $7,017,560 (2021; $4,209,451 profit).
  • $30m Alberton Oval facilities transformation underway.

Port Adelaide Chairman David Koch credited the result to the loyalty and connection of Port Adelaide members, and commercial and community partners.

“This is an outstanding financial result, and I thank our members, and commercial and community partners for their wonderful support again in 2022,” Mr Koch said.

“Building a financially stable and powerful Port Adelaide is an important part of our strategic agenda and will ensure we can provide our players with the best possible environment to enhance success on-field.

“The transformation of Alberton Oval is progressing well, and we are excited by what it will provide our whole club, including our members, players, staff, commercial partners, and the broader community, as a unique high-performance and community sports precinct.

“While debt reduction remains important, we are also focused on building the commercial asset base of the club.

“The Precinct at Alberton venue re-development is a wonderful example of this focus, and I thank the incredible people who have supported us with their generous donations in making this possible.

“Work on the club’s new $30m Alberton Oval development is well underway and due for completion in 2023, delivering the club an industry leading high-performance centre for its football programs.

“Our new bar, kitchen, museum and Port Store opened this year and has been extremely popular among members and supporters.

“We’re now in a position to focus on further investments across our core business to continue to underpin and grow our revenue base.”

The Port Adelaide Football Club will hold its Annual General Meeting on Friday, 10th February 2023.