The GIANTS have announced an operating loss of $866,613 for the 2019 financial year, including $662,644 of depreciation, from a total turnover of $48,541,841.
Club generated revenue for the 12 months to 31 October 2019 was $21,603,431, up 22% on the previous financial year.
A range of significant costs, including those associated with a crippling injury list and unforeseen finals costs, had a major impact on the financial result.
GIANTS Chief Executive David Matthews said that while injuries and other unforeseen costs presented some financial challenges in 2019, the year represented another period of positive growth for the league’s youngest club.
“Another significant injury list and competing in the club’s first ever Grand Final - which was undoubtedly a historic occasion - came at a cost which is reflected in our financial results,” said Mr Matthews.
“The associated costs from a massive injury toll and playing one home game only throughout the finals ultimately impacted our finances across what was another big year for the club.
“We don’t rely on gaming revenue like many other clubs and we don’t yet have the fan base and fan revenue of older clubs in traditional football markets. We did, however, achieved very strong growth in 2019 across almost all key areas both on and off the field.
“We exceeded 30,000 members for the first time in 2019 after a 15% uplift from the previous year - making us the second largest elite level club in NSW behind the Swans - our home crowds were up 4% and our suite of corporate partners was solidified by the addition of KIA Motors as well as the elevation of Toyo Tires to the position of principal partner.
“Indeed, we remained in the top half of the league for commercial revenue, we launched an entirely new brand campaign, established an innovative partnership that saw our Sydney home ground renamed GIANTS Stadium while our community outreach programs engaged over 20,000 people in Western Sydney and the ACT alone.
“While our AFLW and GIANTS Netball teams missed out on making finals last year, the club continues to be the number one destination for female athletes to compete at the elite level in New South Wales with both teams providing unprecedented pathways for the next generation of young female athletes. Our long-term future continues to be bright with works about to commence on a major upgrade of our training and administration facility that will ensure the GIANTS rank alongside the very best in Australia in terms of infrastructure.”
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