Bulldogs announce sixth consecutive profit

Bulldogs announce sixth consecutive profit
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The Western Bulldogs have announced a total profit of $2,980,693 for 2019.

It is the Club’s sixth consecutive year of total profits, and its fourth consecutive year of total profits in excess of $1 million.

The Club finished the financial year with net assets of $48,785,225 (up from $45,804,532 in 2018) and cash at hand of $7,893,272.

The Bulldogs achieved its profit in a year in which the Club also significantly increased football department spending. Revenue growth was assisted by membership sales, match receipts and corporate hospitality and events.

The Club’s two home games in Ballarat were strongly supported, and its average home game attendance at Marvel Stadium also grew significantly, to over 30,000.

“This is another financial result which will strengthen the Club’s off-field position and help us invest in our future,” said Bulldogs President Peter Gordon.

“Our management and staff have done a tremendous job to enable us to invest more in football, in the Whitten Oval, and into our community, as well as to get out of gaming. I am especially proud of the continued great work done this year by the Western Bulldogs Community Foundation.

“We are entering an exciting new phase with the redevelopment of the Whitten Oval precinct, and we will continue our work to ensure we can deliver on our master plan.”

The Club recently executed an agreement to sell its two gaming businesses (Peninsula Club in Dromana and Club Leeds in Footscray), with the sale process expected to be complete in early 2020 upon finalisation of regulatory requirements.

The current year financial statements do not include gains attributable to the sale of the gaming businesses.

“The sale of the gaming operations has already created some new revenues in 2020 and will also provide significant capital to the Club which can be redeployed in other areas of operations and in the redevelopment of the VU Whitten Oval. Breaking free of gaming is a financial challenge for a club like ours but it’s not impossible, and it can be done financially prudently.” Mr Gordon said.

“The Club has been preparing since 2016 for its exit from the gaming industry. The key challenge now is to build our financial resilience without gaming. That means we have to replace the gaming income with revenues from healthier enterprises.

“Bulldogs people who support this change and who believe in what the Club stands for on the field and in the community need to show that support by committing to membership of the Bulldogs. We punch above our weight and we persevere. That’s what it means to be a Bulldog.”

Read the Full Financial Report for 2019

We have come a long, long way from 1989. Kudos to everyone who has contributed to get us to this point. Especially the long term loyal members. Well done all.

Massive effort from everyone from the President down. And the members.

Well done to our dedicated and high performing off field team

Could anyone have predicted a sustain level of profit performances like this 7 years ago?

Fantastic effort. Well done to all those involved at the club.

Another great result, if the financial success starts to transcend onto the field we will be breaking records all round.

Great great stuff. How good is this after all those years of anguish about the future of the club. We are flying. Not everything is perfect of course but we just seem to be, on the whole, making good decisions. And that includes drafting and trading.

Great result! Our club has come a long way and nowadays we are very much financially secure. Go the Dogs!

Great news and effort by the club

Unbelievable. Brilliant stuff.

It's great news! That's on the back of nearly a million extra for the footy dept. 24.9->25.8 million.

We did receive 2 mill in state government grants for aflw which helps and 1.54 million from discontinued operations which I can't quite work out. The bulk of that is listed as intangibles.
Take these out we ran at a small loss before redevelopment activities of 163k. Last year we were 600k in the black.

8 mill cash is a great effort and the continued worth of the precinct rising.

My take very healthy, and I reckon we will turn that 163k red back to black this season with increased membership revenues and we will get a short term boost from the sale of gaming.

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Originally Posted by Grantysghost

It's great news! That's on the back of nearly a million extra for the footy dept. 24.9->25.8 million.

We did receive 2 mill in state government grants for aflw which helps and 1.54 million from discontinued operations which I can't quite work out. The bulk of that is listed as intangibles.
Take these out we ran at a small loss before redevelopment activities of 163k. Last year we were 600k in the black.

8 mill cash is a great effort and the continued worth of the precinct rising.

My take very healthy, and I reckon we will turn that 163k red back to black this season with increased membership revenues and we will get a short term boost from the sale of gaming.

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Definitively a big profit coming next year, will be interesting to see just what we got from the pokies sales.

All this money will be used for the redevelopment of the ground.

Can someone just indulge me for a moment and explain what 'Cash at Hand' means? (I think that I know what it means but I'm not sure) Does that mean if someone comes along and says "Hey Western Bulldogs, you owe us 7 million bucks" that we could just go to the bank take out the 7 mil and pay the debt and have 7 hundred and fifty thousand sitting in the bank? Is it like a rainy day fund?

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Originally Posted by Twodogs

Can someone just indulge me for a moment and explain what 'Cash at Hand' means? (I think that I know what it means but I'm not sure) Does that mean if someone comes along and says "Hey Western Bulldogs, you owe us 7 million bucks" that we could just go to the bank take out the 7 mil and pay the debt and have 7 hundred and fifty thousand sitting in the bank? Is it like a rainy day fund?

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Exactly that, money sitting in the bank.