The Club reports net profit for year end.
For the year ended 31 October 2024, the Western Bulldogs have reported a total net profit of $14,901,280 (2023: $26,275,951).
Included in the total profit is a surplus from redevelopment activities of $17,149,750 (2023: $32,327,283).
The Club’s redevelopment activities, now completed have been separately identified in the financial report.
The Club’s underlying profit was $491,752 (2023: $2,374,573). This figure excludes the surplus from redevelopment activities, as well as depreciation, amortisation, and interest.
The decrease in profit compared to 2023 is primarily due to increased investment in football operations and expenditures on new facilities.
“This has been a momentous year for the Club as we completed our redevelopment and commenced a new era at Mission Whitten Oval,” said Bulldogs CEO Ameet Bains.
“This new facility – which provides a wonderful point of connection for supporters, members and the local community in our spiritual home – has brought inevitable new costs but we are now in a position to realise its full potential as a venue.
“After thorough post-season reviews last year we have invested more heavily in both our football programs and seen tangible progress across the year. Our AFL team returned to finals with a compelling second half of the season and our AFLW team exceeded expectations with strong improvement as the season progressed.
Similarly, our state league teams excelled with our VFL team narrowly losing a Preliminary final and our VFLW team playing off in a Grand Final.
“We achieved a third consecutive year of record membership with over 62,000 signing up. On behalf of the Club, I would like to thank everyone for their ongoing faith in our Club and unwavering commitment to the Bulldogs cause.
“Attendances were also up, with our game against Essendon drawing the biggest Marvel Stadium crowd in over a decade and a 6% year-on-year increase in our reserved seat show rate throughout the season. Our fans also turned out in force at all three matches in Ballarat and at our W home games at Mission Whitten Oval, ensuring they were all spectacular occasions.
“On the commercial front we renewed partnerships with several key partners, including ASICS, Airport Toyota and the Victorian Responsible Gambling Foundation. We were also delighted that our home in Footscray became known as Mission Whitten Oval after Mission Foods extended their support of the Club to include venue naming rights for at least the next five years.
“Our Community Foundation continues to grow in size and scope, with more than 5000 people participating in their life-changing programs and more than 16,000 engaging with their activities across the western corridor of Melbourne and Victoria, helping to drive positive change in the region.
“We would also like to thank everyone who donated to our fundraising efforts throughout the year, including those who contributed to the $1m we raised through our ‘Fight On. Forever in Footscray’ Giving Day in August. Our Club’s supporters have always dug deep to make us the best that we can be and those contributions will be vital to our ongoing success and sustainability.
“As we approach centenary celebrations for our entry to the VFL/AFL we are full of hope for what our Club can achieve in the next 100 years.
With strong foundations in place, excellent leadership from our Board of Directors led by President Kylie Watson-Wheeler and the diligent efforts of our staff and players across the organisation, we have high hopes for next season and beyond and look forward to sharing that journey with our members and fans.”
Club President Kylie Watson-Wheeler added that the report reflected the ongoing health of the Club and acknowledged the efforts of its administration.
“We’re proud of the financial position our Club is in and the strong foundation that has been built for the Western Bulldogs to thrive into the future,” Watson-Wheeler said.
“I would like to thank our executive and staff who tirelessly give their all for the Club throughout the year and drive so many positive outcomes.”
The Club will hold its Annual General Meeting on Wednesday December 18. 2024.
Summary:
- Total revenue excluding redevelopment grant income of $59,450,653 (2023: $52,422,913).
- Underlying profit before redevelopment activities, as well as depreciation, amortisation, interest, legal damages and costs of $491,752 (2023: $2,374,573).
- Statutory Profit of $14,901,280 (2023: $26,275,951).
- Membership record of 62,328 (2023: 56,317).
- Cash or cash equivalents on hand of $5,110,929 (2023: $8,306,348), including grants received in relation to redevelopment activities and unexpended grant income from community support programs conducted by the Western Bulldogs Community Foundation.
- Net assets of $103,408,370 (2023: $88,507,090).
