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AFL club St Kilda have posted a loss of $1.5m for the 2011 financial year. The Saints released a statement on Wednesday that confirmed just how trying a season it had been for the club, on and off the field.
“The financial outcome was disappointing,” St Kilda president Greg Westaway said.
“We need to look to new ways to grow our revenue so that we can not only survive but thrive in a competitive environment that is changing at an unprecedented rate.”
The club recorded an operating loss before depreciation of $1,500,772, with the operating loss after depreciation being $2,274,220.
The Saints’ tumultuous 2011 campaign started with the backdrop of another Kim Duthie saga, with the teenage girl posting naked photos of skipper Nick Riewoldt, Nick Dal Santo and Zac Dawson on the internet in December, 2010.
Their underwhelming 2011 season ended in the first week of finals and was capped a week after the loss, when coach Ross Lyon walked out on the club to join Fremantle.
Scott Watters was appointed St Kilda’s new coach in October last year and is yet to announce whether Riewoldt will retain the captaincy for the 2012 season.
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January 19th 2012 @ 8:52am
The Cattery said | January 19th 2012 @ 8:52am | Report comment
St Kilda was damaged by the whole Duthie/photo affair, no doubt about it, but it’s a funny old club – one premierships in 140 years, and it’s still here – it’s a club that invites controversy one way or the other, it’s St Kilda.
January 19th 2012 @ 11:03am
brendan said | January 19th 2012 @ 11:03am | Report comment
I live near Linton St and so many long term supporters are disenchanted.This years loss may will be worse again and if your right The Cattery a child precipitated this i doubt they will not be around for another 140 years.That joke about more nude photos this time the bare trophy cabinet sums them up.
January 19th 2012 @ 12:57pm
me too said | January 19th 2012 @ 12:57pm | Report comment
the costs of relocating to seaford can explain a lot more about that loss than a young girl who shared herself between a saint and a magpie and an old man. on top of that we are forced to play in a stadium that bleeds us, and until now have received no compensation for. there’s also a fair bit more enthusiasm about the coming season as we await to see a more attack focused saints reinvent themselves. the saints will be here long after the likes of the roos and the dogs are just a memory. a flag or two over the next few decades would of course be appreciated.
January 19th 2012 @ 1:04pm
The Cattery said | January 19th 2012 @ 1:04pm | Report comment
As Captain Blood used to say on 3KZ with Ian Major: when you get that winning feeling, you can almost taste it.
At least days, fans of both the dogs and saints can say that they have more premierhsips than the dockers, suns and giants.
January 19th 2012 @ 3:02pm
The_Wookie said | January 19th 2012 @ 3:02pm | Report comment
The St Kilda annual report is revealing.
overall revenue was down by 3 million, stadium revenue was down by 975,000 (the only club to mention it specifically), and they have the lowest Sponsorship portfolio of any Victorian club (and that was down more than a million), and thus likely the entire AFL, at just over 6 million. They also made 700,000 less in AFL prize money (made in 2010 from two grand finals), earning just 68,000 for coming in eighth (incidentally something I never knew). Membership was down, Attendances were down, Performance was down. On the whole 2011 was a bad year.
However, the overly dramatic reporting of the loss is slightly incorrect. The actual operating loss in the annual report is about 1.15 million, the consolidated loss for 2011 is 1,279,000. The 2 million plus loss figure appears derived from cash flows only.
January 20th 2012 @ 5:47pm
Nathan of Perth said | January 20th 2012 @ 5:47pm | Report comment
Sponsorship might start to pick up again, since its started to move on and Duthie sort of publicly immolated her credibility a couple times, taking the focus away from the club a bit.
January 20th 2012 @ 2:48pm
simonjzw said | January 20th 2012 @ 2:48pm | Report comment
Other elements of the St.Kilda performance aside the major point driven home is that the stadium deal the clubs are getting at Etihad is the major scourge of the game for Victorian Clubs. My friends in Victoria often ridicule the crowd sizes at NRL games. . . until I point out that St.George make money out of 8000 at Kogarah while St.Kilda lose money from 22000 at Etihad.
It’s a ridiculous situation and the sooner the AFL takes over the better.
January 27th 2012 @ 7:03pm
Jaredsbro said | January 27th 2012 @ 7:03pm | Report comment
What?! I hope you mean the stadium my friend because the AFL without any competition might lead us to…