Bulldogs eradicate debt with third straight significant profit

[bornadog]

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The Western Bulldogs Football Club is set to report a consolidated net profit of $1,643,050 for the financial year ended 31 October 2017, and that its net debt has been extinguished.

The financial result will be the Club’s third consecutive year of profit in excess of $1 million, underpinned by growth in membership and commercial revenue.

The strong performance has enabled the repayment of the Club’s bank borrowings and strengthened its balance sheet and financial health.

“The key financial objective for 2017 was to continue to reduce debt while supporting growth and investing in football to support our three teams. Each of those financial objectives was achieved,” said Bulldogs’ CEO Gary Kent.

“We are unable to recall the last time the Club was in a position of having nil net debt. It is at least forty years. So that’s extremely satisfying.

“The investment for growth has enabled the Club to expand operations in Ballarat and provide for additional resources for marketing, membership services, commercial operations and our community programs.

“We have worked hard over the last few years to grow our financial strength, and it’s the dedication of the entire organisation which has helped us into a position where we are debt free while continuing to invest heavily in the Club.”

Football expenditure increased by $2.8 million in 2017 and was invested in resources for coaching, high performance, player welfare and recruitment for the AFL, VFL and AFLW teams, as well as the establishment of the Next Generation Academy.

The Bulldogs set a membership record for the third straight year, with 47,709 members signing up in 2017, an increase of 19% from the previous year.

Revenue from Commercial Partnerships also set a Club record with a growth of 8.9% to $10.5 million.

“The renewal of Mission Foods as the Club’s major partner for a further three years from 2018, the announcement of the Club’s three-year partnership with Mercedes-Benz Vans and the renewal of our partnership with Victoria University for a further five years will provide tremendous opportunities for partnering with these world class organisations,” Kent said.

“The growth in number and quality of sponsors and partners is also recognition of the increased value being attributed to the Club’s brand and its commercial assets.”

The Club’s charity arm, the Western Bulldogs Community Foundation, also continued its outstanding work in 2017. The Foundation partnered with government, corporate and community agencies, committing over $1.5 million to running its thriving suite of programs.

The audited financial report is scheduled for approval by the Western Bulldogs Board on December 12.

Highlights of the Bulldogs’ financial performance:

• Consolidated net profit of $1.6 million
• Third successive year of profit in excess of $1 million
• Bank borrowings fully re-paid and nil net debt at year end
• Increase in revenue of 7.3% to $51.9m
• Investment in Football department increased by $2.8m to $25 million
• Membership growth of 19% to a record level of 47,709
• Commercial partnerships revenue growth of 8.9%
• Renewal of Mission Foods as major partner to end of 2020
• Announcement of three-year partnership with Mercedes-Benz Vans, commencing in 2018
• Merchandise revenue of $2.5 million
• Historical first season of the Western Bulldogs AFLW team and partnership with Western Spurs for a Western Bulldogs VFLW team in 2018
• Average AFL home attendances at Etihad Stadium increased to 36,306
• Inaugural AFL match at Mars Stadium in Ballarat
• Expansion of community programs into Western Victoria and the launch of the Daughters of the West program

[bornadog]

What a wonderful achievment. The article says net debt is something not achieved for 40 years, but to tell you the truth, I don't think we have ever been in that posititon before.

Well done to Peter Gordon and all the staff at the Footscray Football Club Limited (trading as the Westernbulldogs)

[Topdog]

What a wonderful achievment. The article says net debt is something not achieved for 40 years, but to tell you the truth, I don't think we have ever been in that posititon before.

Well done to Peter Gordon and all the staff at the Footscray Football Club Limited (trading as the Westernbulldogs)

Completely and wholeheartedly echo these thoughts. Magnificent effort.

[Twodogs]

So which one is net debt again?

Does that mean we owe nobody anything or is it something to do with not paying interest on loans anymore?

[ledge]

Awesone news.
I'm pretty ecstatic actually, never thought we would achieve what we have but since PG came back it's been all front foot, we can do anything attitude.
And to Barrett and co , suck shit and wallow in all your wrong assumptions about our president, board, coaches and trying to hurt this club.
Do some real investigations into things before you mouth off , because it's easy to make headlines writing rubbish.
God I love this club.

[Axe Man]

So which one is net debt again?

Does that mean we owe nobody anything or is it something to do with not paying interest on loans anymore?

It means our cash and other liquid assets exceed our loans. Eg we may still have a loan for $1 million but we also have $1.5 million in cash.

[Murphy'sLore]

Very, very, very happy with this news. Extraordinary achievement. So proud!

[bulldogtragic]

Great news. If we handle the next few years correctly, we should be around forever. Another premiership or two in this window would be ideal.

Collingwood making huge losses again. For certain journos attacks on our various senior management, a club with about half the members is massively out performing the biggest, most powerful club in the commercial battle.

[bornadog]

It means our cash and other liquid assets exceed our loans. Eg we may still have a loan for $1 million but we also have $1.5 million in cash.

Don't believe we have loans anymore

You are right we have more cash than needs to be paid out for expenses, wages etc. Great position to be in.

[bulldogtragic]

Don't believe we have loans anymore

You are right we have more cash than needs to be paid out for expenses, wages etc. Great position to be in.

I wonder if we will start to do like the wealthier clubs do, that is, with our cash whether we start looking at using the Cat B rookie list much more with international players, players coming from other sports or like we did with Tweedie. The success rate seems low relatively speaking, but it you land a very good or gun player by 'buying' Cat B rookies, that's a huge advantage for the side.

[ledge]

I wonder if we will start to do like the wealthier clubs do, that is, with our cash whether we start looking at using the Cat B rookie list much more with international players, players coming from other sports or like we did with Tweedie. The success rate seems low relatively speaking, but it you land a very good or gun player by 'buying' Cat B rookies, that's a huge advantage for the side.

I think we are more into promoting our brand and expanding into other areas.

[Bulldog4life]

Fantastic news. Well done to Peter, Gary and all involved. Very proud to be a member.

[bulldogtragic]

I think we are more into promoting our brand and expanding into other areas.

Certainly a good use of money off field no doubt, we have to keep growing. I hope we don't neglect ways we can use money for on field pursuits. I liked us taking a punt on Tweedie, despite it not working out.

[Eastdog]

Great news.

We are still premiership winners on the financial front. Now to translate it on field.

Will be keen reading the financial report whenever that is released.

Another proud member here.

[westdog54]

It means our cash and other liquid assets exceed our loans. Eg we may still have a loan for $1 million but we also have $1.5 million in cash.

Debts can be as simple as invoices waiting to be paid (Accounts payable) on a balance sheet. It need not mean loans to be repaid.

The club have done a wonderful job from a financial perspective. Here's hoping we can maintain the balance sheet for years to come.