The COVID-19 pandemic has had a severe impact on the bottom line of the Sydney Swans, with the club confirming a net loss of $6,100,236 for the financial year ending October 31, 2020.
The absence of home matches at the SCG and crowds for the 2020 season contributed to more than half of the financial loss for the year.
On the field, Sydney didn’t feature in the finals for just the fifth time in 25 years, finishing the season 16th on the ladder with five wins and 12 losses. Seven Swans players made their AFL debut, while the team was regularly one of the youngest sides fielded across the competition.
Throughout 2020, as a result of COVID-19, the Sydney Swans took necessary measures to ensure the club’s survival including the difficult task of reducing operating expenses by 38 per cent. The reduced operating expenditure included the challenging need to reduce off-field headcount in line with cuts across the AFL industry.
Sydney’s overall membership tally in 2020 reached 48,322. While this was well down on the record tally of 61,912 set the previous year, 98 per cent of those who had committed to the Swans before the season was disrupted in March elected to keep all or some of their contribution with the club.
Sydney Swans chairman Andrew Pridham has thanked Bloods 2020 members and supporters for their passion and commitment.
“We know this year has been challenging for everyone in our Sydney Swans family, so we are immensely grateful to those who were able to contribute to our club. If it wasn’t for the commitment of our members, our financial position would have been much worse,” Pridham said.
“While we have recorded a sizable loss, we have realised the full burden of the pandemic this year. The club will exit the season with a loan repayable to the AFL of $1.5 million, and while that’s significant, it ensures we can continue to offer important programs such as our QBE Sydney Swans boys and girls Academy, to provide opportunities and pathways for local talent.
“The reality of the Sydney market that we operate in is that despite taking prudent measures throughout the year, there are high costs that are necessary to ensure our team can continue to train and play.
“Everyone from our board to our executive team, wider staff and playing group have worked incredibly hard to keep the club going through some very difficult circumstances this season. I would like to extend my thank you to every one of them for their efforts.
“I particularly wish to thank the staff who are no longer with the club for their outstanding service, often over many years. Losing loyal staff, many of whom are also friends, has been the most difficult aspect of 2020.
“To our corporate partners, especially our Principal Partner QBE and Major Partners Volkswagen and realestate.com.au, thank you for standing by us through what we know has been a difficult year for you also. This year we have also expanded our partnership with Nike and look forward to seeing the team run out in our new Nike playing kit next season.
“There is no question that this year has been tough, but we look ahead with optimism. Through the AFL draft and trade period we have secured six new recruits, including three from the QBE Sydney Swans Academy. We remain hopeful of re-enlivening a project for a new training and administration facility, while the NSW Government has announced that stadiums can return to 100 per cent capacity.
“There is much to look forward to, albeit still a tough road ahead. We will continue to need the support of our loyal members, supporters and partners, and I know I speak for everyone at the club when I say we can’t wait to welcome them back to the SCG next year.”
