A struggling St Kilda Football Club has reported losses of nearly $4 million while club debt continues to rise.
The Saints announced a loss of $2,354,583 last season, however that figure is actually closer to $4 million after write downs. The club is also in debt $9 million, $2.5 million of which is owed to the AFL, following last year’s total loss of $2.6 million.
“Overall expenditure of the club was relatively stable and actually down $460,813 for the year. It was the decline in revenues that has caused this significant loss,” President Peter Summers said. “The reality is that our club’s core football related revenues have all been in decline since 2010.”
Last season’s wooden spoon winners have experienced a quick fall from grace as membership numbers continue to slip following back-to-back grand final appearances in 2009 and 2010.
“In 2014, our average home game attendance dropped to below 24,000 while our membership numbers were down approximately 2,000 to 30,627,” Summers added. “ Having just one co-major sponsor also significantly impacted our financial result as did a turndown in merchandise sales and fundraising.
“This is not an acceptable result by any means, however it is one which we are intent on never repeating and I’m confident the right changes have been made in the past 12 months to turnaround our club on and off the field.”
St Kilda’s on-field prospects are unlikely to experience a radical turnaround in 2015, however Saints fans will have a freshly re-signed skipper to support for at least the next two seasons.
Nick Riewoldt will be back in the red, white and black until at least 2016 after signing a two-year extension with the club on Monday.
“I always wanted to be here. It’s irresponsible not to think about those things, though, especially given the climate of AFL now,” the 281-game, 32-year-old veteran said. “Free agency has really changed the game, but for me, I’m a loyal person, I really love the footy club, and I’m committed to leading us through this next phase.”
“I’m really committed to leading us through that transition and being a big part of it, and hopefully playing in finals again.”
“It’s exciting, it really is, and it’s going to get even better in a week’s time when you add another three players inside the first 20 picks [of the national draft].”
Photo: Darrian Traynor/Getty Images.
