Crows post $98,000 profit - Sports News - Fanatics - the world's biggest events

Crows post $98,000 profit

08/12/2009 07:27:05 PM Comments (0)

The Adelaide Crows have posted a 2009 surplus of more than $98,000, a whopping fall from the AFL club's $1.7 million profit last year.

The Crows blamed construction of their new training facility at West Lakes and dropping revenue because of the global financial crisis for the $98,652 surplus.

"We've had a very challenging year," Adelaide chief executive Steven Trigg said Tuesday in a statement.

"Its a fact that revenue has flattened, more so with the financial crisis affecting this result, and expenses continue to climb, albeit with strong controls.

The Crows' result comes with the context of the club paying more than $580,000 in a licence fee to the SANFL and a $600,000 payment towards AAMI Stadium's northern grandstand.

The club's net assets total nearly $20 million.

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