The Port Adelaide Football Club is pleased to announce an operating profit of $3.157m for the 2024 financial year. This result is before grant revenue, depreciation, and amortisation.
After including capital grant revenue associated with the Alberton Oval redevelopment of $3.735m, and deducting depreciation and amortisation of $1.837m, the club reports a consolidated profit of $5.055m.
The 2024 financial result was underpinned by strong growth across Port Adelaide’s core business revenues including membership, gate receipts, commercial partnerships, hospitality, and retail sales contributing to gross revenue increasing by $4.6m in the 2024 financial year, to a total of $69.2m.
This growth enabled the club to reduce debt by a further $2.0m in 2024, resulting in total debt reduction of $10.5m across the last four years. Total debt is down to $1.89m as of 31 October, with the club aiming to clear this historical debt in by the end of 2025.
Port Adelaide’s net asset position further strengthened in 2024 to $57.7m.
This is an increase of $25.1m, up from $32.7m in 2023, as a result of the revaluation gains on the Allan Scott Headquarters upgrade which included the new MG High Performance Centre, capital investment in Alberton Oval facilities, and the renovated Precinct at Alberton.
Highlights of the 2024 Financial Result:
- Operating profit of $3.157m
- Gross revenue up 7 per cent to $69.188m
- Core business revenue up 8 per cent, $2.868m (membership, tickets, commercial and retail)
- $2m in debt repayments (2023; $2.5m)
- Total assets of $82.4m (2023; $61.8m)
- Strong balance sheet with net assets of $57.7m (2023; $32.7m)
- Capital grants recognised for facility development of $3.735m (2023; $15.631m)
- Resulting in a consolidated profit including grant revenue of $5.055m (2023; $15.574m consolidated profit)
- $30m Alberton Oval stage one facilities redevelopment completed
Port Adelaide Chairman David Koch said this year’s financial result was pleasing and thanked the club’s members and fans for their ongoing support.
“We are very grateful for the support of our loyal members and fans who are integral to the club’s success on and off the field,” Mr. Koch said.
“The AFL is one of the premier and most competitive professional sports leagues in the world and building a powerful business to underpin our success can only happen with the support and passion of our people.
“Membership continues to grow with a record 71,307 club members, and gate receipts were strong again in 2024 with over 100,000 tickets sold to our AFL and AFLW home games.
“We are also pleased with the growth of AFLW home games at Alberton Oval in 2024, with average home game attendances of 3,321, placing us second in the competition.
“We are delighted to see members and fans embracing the unique experience that is emerging at Alberton, and of course our talented young team.
“I also thank our commercial partners and stakeholders for their support across our football club and community programs. Their support of our aspirations on and off the field, and the important work we do in the community is invaluable.
“We were extremely proud to officially open the new MG High-Performance Centre and redeveloped Allan Scott Headquarters to our members at Family Day early this year.
“Providing our athletes and staff with world-class facilities, developing a state-of-the-art AFLW match day venue, and enhancing the experience of our members, fans, and the local community when they come to Alberton Oval have all been key drivers of the exciting transformation.
“In 2025 we commence the next stages of the Alberton Oval re-development, including new AFLW player and staff facilities within Allan Scott Headquarters to further integrate our AFL and AFLW programs. There will also be new permanent seating installed around the eastern boundary to enhance the match day experience in time for our 2025 AFLW season.
“A strong financial result provides the club with the ability to continue to grow and invest in our football programs, our community, and the experience people have when they come to Alberton Oval, or when attending a Port Adelaide game.
“I sincerely thank our members and fans, Board, Sub-Committees, AFL, AFLW, SANFL playing groups, staff, and corporate and community partners as we look forward to 2025.”
