The Brisbane Lions Australian Football Club has recorded a net operating loss of $1.78 million for 2015/16.
The Club generated a trading loss of $0.3 million for the year ending October 31, 2016, prior to depreciation and interest costs.
The $1.78 million loss in 2015/16 was in line with the Club’s budget forecast for the year. This year’s result was driven by a range of factors:
- Increased football department investment;
- Costs associated with the release of the Senior Coach from his contract;
- Declining crowds and membership due to performance.
Brisbane Lions CEO Greg Swann said the Club remained committed to improving performance across the entire organisation.
While disappointing, this year’s result was still well ahead of the $3.5 million loss in 2013/14, and the Club continues to work with the AFL to improve its financial performance.
“Off the field, we have done a large body of work in the commercial and membership areas to ensure that we are in a position to capitalise on the improved results that we expect will come with our new approach in football operations,” said Swann.
“There have still been positives across the Club this year, most notably co-major partner Vero extending for two years, and Camperdown Dairy International signing as a co-major partner for three years.
“Better engagement with our loyal fans also remains a priority and we continue to work hard in that area.
“As a Club, we want to become relevant again – that involves a lot of hard work and we are up for the challenge.”
Other key points of the Lions’ 2016 Financial Report are:
- Total Club turnover of $49 million, compared to $51 million the previous financial year;
- Football department expenditure of $22 million, compared to $21.5 million the previous financial year;
