Port Adelaide chief executive officer Keith Thomas has advised the club that he will not seek to extend his contract beyond 31 October 2020.

Mr Thomas, who commenced as CEO in August 2011, says the time is right to start to transition out of the role.

“After more than eight years as CEO of this great club, now feels like the absolute perfect time to start the process of bringing in a new CEO to take Port Adelaide forward beyond 2020,” Mr Thomas said.

“I have been in discussion with chairman David Koch for some time and we have both agreed this is the best outcome for me personally and, most importantly, for the football club.

“Well run football clubs like Port Adelaide do not rush into transitions as important as this. Hence why we have given ourselves plenty of time to make this change in a steady, orderly manner.”

Port Adelaide chairman David Koch paid tribute to Mr Thomas.

“All of us at Port Adelaide are custodians of a cultural legacy and our responsibility is to leave the club in a better position than we found it,” Mr Koch said.

“I can say categorically that Keith Thomas has left the Port Adelaide Football Club in a vastly better position than when he started. Keith engendered a spirit of humility, expectation and responsibility that lifted the club greatly.

“Keith proved very quickly after joining the club that he totally understood the Port Adelaide way and he will leave in 2020 as one of our club’s most popular and respected administrators, as measured by not only the Port Adelaide community, but also by the broader AFL industry.”

Since joining Port Adelaide Mr Thomas has overseen a remarkable era of change at Alberton.

At the time of his appointment, Port Adelaide sat equal bottom of the AFL ladder, had only 29,000 members, an average home crowd of 19,000 and was under significant financial pressure.

Fast forward eight years, Port Adelaide has established itself at a worldclass Adelaide Oval, now has more than 58,000 members, an average home attendance of more than 39,000 and has been profitable since 2015, including a major debt repayment to the AFL this year.

During this period, Mr Thomas was also instrumental in Port Adelaide’s – and the AFL’s –bold entry into China and has seen the introduction of a number of industry-leading Aboriginal programs including the AFL’s first AFL Indigenous Academy in 2015, followed by the industry’s first Women’s AFL Indigenous Academy three years later.

From an on-field perspective, Mr Thomas has ensured Port Adelaide has gone from the second lowest football spend in 2011 to a fully funded football program since 2013. During this time, Port Adelaide has competed in three AFL finals series and in three SANFL grand finals.

Mr Thomas says he’s proud of what he has achieved so far but there is still plenty more to accomplish.

“It is such a privilege to serve the Port Adelaide Football Club and I will be forever grateful for the support I have received from the wonderful people of this club.  When you look at how the club has grown since the end of 2011, we certainly have come a long way,” Mr Thomas said.

“But now is not the time for reflection, there’s still so much more to achieve.

“Next year, Port Adelaide’s 150^th anniversary, is arguably one of the biggest years in Port Adelaide’s storied history.

“I’m feeling fresh, energised and ready to roll my sleeves up to ensure next year is a great celebration for the Port Adelaide community.”

Mr Koch says Port Adelaide will commence a process in the New Year of canvassing the industry for the best chief executive to take Port Adelaide forward.