However, once one-off factors are taken into account, the loss attributed to normalised football operations is approximately $260,000.
The one-off costs incorporated in the final operating loss include the end-of-season football review and restructure including redundancy payments, legal fees surrounding the Club logo and significant up-front costs associated with the construction of the new Springwood social club facility and the closure of the Lions Den at the Chalk Hotel.
The Lions' new social club facility - LIONS @ springwood - is set to officially open this Saturday 27 November at 10am with close to 10,000 members already signed up.
Lions Chairman Angus Johnson said Club members and supporters have reason for optimism despite the loss.
"A number of unique factors have certainly made the Club's financial loss this year far greater than usual," Mr Johnson said.
"Among the one-off costs are some strategic business decisions that were undertaken during the year to place the Club in a strong financial position over the long-term."
"But that doesn't change the fact that it's disappointing and unacceptable to record a financial loss," he said.
"As Chairman, I can assure our members and supporters that the current Lions Board and staff will be working tirelessly to avoid making losses of this nature."
"Substantial changes have been made across the Club and measures have been put in place to ensure the Club experiences long-term growth and avoids making the mistakes of the past."
Click here to view the Brisbane Lions' 2010 Financial Report
