Tigers record profit for 2008 season - Sports News - Fanatics - the world's biggest events

Tigers record profit for 2008 season

21/11/2008 03:13:56 PM Comments (0)

AFL club Richmond have announced a profit for the fourth successive year, and say they are on track to do so again in 2009.

The vast majority of the Tigers' recorded $8 million net profit for 2008 is made up of government funding for a redevelopment program.

But the club made nearly $400,000 profit from football operations for the year, aided by record membership of nearly 40,000.

Despite still searching for a major sponsor to replace the Australian Finance Group, Richmond chief executive officer Steven Wright said the club was on a solid financial footing and expected to announce another profit at the end of next year.

"While the club now has net assets of $8.9 million and is in a solid financial position in terms of its asset base, given the current global economic environment, the board has taken a very conservative approach with its planning for 2009," Wright said.

"Notwithstanding that, the board expects the club to make a further profit next year.

"Difficult challenges remain for the club, particularly in the areas of sponsorship and corporate income for 2009, but we are currently proactively pursuing all options."

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