The Sydney Swans has announced an underlying profit of $38,878 for the year ending 31 October 2022, in a year that saw the club launch its first women’s team and make the AFL Grand Final.
The club’s statutory net profit was $51,106,781. However, it is important to note that this number largely reflects funds raised for the construction of club’s new $70 million community-based training and administration centre at Moore Park’s historic Royal Hall of Industries.
Despite the challenges faced in recent seasons, Sydney continues to recover from the COVID-19 pandemic and remained debt free as of 31 October 2022.
The stabilised financial position following the pandemic places the club in a strong position to achieve its goal of sustained success, on and off field, in season 2023 and beyond.
Key items contributing to the financial outcome include:
- Operating income increasing year-on-year by 29% to $57.1 million
- 56,076 Sydney Swans members, including the No. 1 AFLW member following in the league
- Sponsorship, hospitality, and marketing revenue of $20.8m (up from $15.2 in 2021)
- Depreciation and amortisation expense of $2.5 million (inclusive of the lease for the Royal Hall of Industries)
- Strong on-field performance highlighted by an AFL Grand Final appearance for the first time since 2016
Sydney Swans CEO Tom Harley said he is proud of everything the club has achieved this year, including generating a profit after one of the most challenging periods in its history.
“Not only have we survived, but we have reset and revived – and that would not have been possible without the unwavering support of our loyal members and corporate partners,” Harley said.
“To the 56,076 members who joined us for the journey this year, we thank you. We thoroughly believe that the Swans experience is better as a member, and we will continue to deliver and improve on that promise in 2023. The Sydney Swans is Australia’s most supported sporting club, with over 1.9 million fans.
“The support of our partners has been enormous and for that we are immensely grateful. At a time when all businesses have faced their own challenges, our partners, led by principal partner QBE and major partners realestate.com.au and Volkswagen, have stood by us.
“This was a landmark year that saw our club compete in the AFL Grand Final, announce significant long-term player contract extensions, and introduce a women’s team – and I am incredibly proud of everything we have achieved.
“As the year draws to a close, we are nearing completion of our new home at the Royal Hall of Industries. We would like to take this opportunity to thank the federal and state governments, the AFL, the Sydney Swans Foundation, and all the generous donors who have contributed to the project.
“Sydney Swans HQ will be a game changer for our club, providing a world-class facility to develop our people and position our club for sustained success. We look forward to welcoming our members there in early 2023.”
