West Coast Eagles announce record profit - Sports News - Fanatics - the world's biggest events

West Coast Eagles announce record profit

By Tim Clarke 08/02/2008 03:59:31 PM Comments (0)

The self-confessed image of the West Coast as a club off the rails has not translated to the bottom line, with the Eagles revealing an operating profit of more than $6.5 million last year.

A record for a club already considered one of the financial powerhouses of the AFL and Australian domestic sport, West Coast registered an operating profit of $6,636,808 to the year ending October 31, 2007.

After a royalty payment of $2,766,450 to the West Australian Football Commission and a further $3 million in rent payments for Subiaco Oval, the club retains around $3,870,000 out of a turnover of some $46 million.

Incoming chairman Mark Barnaba paid tribute to the loyalty of supporters who, as well as suffering a torrid time off the field, saw their team bow out of the finals with two successive losses to Port Adelaide and Collingwood.

"It is a wonderful outcome for our club and the result of outstanding efforts from everyone involved in club operations, from the board and management through to the staff, coaches and players," Mr Barnaba said.

"It is also reflective of the tremendous loyalty the club enjoys from its sponsors, corporate supporters and members.

"Loyalty is a two-way street and we also thank our sponsors, members and supporters for their patience as we work towards a new stadium and supporters club to provide them with the facilities they deserve."

Despite the departure of both Ben Cousins and Chris Judd, the Eagles say membership figures for 2008 already look healthy, with less than one per cent of seated WA members failing to renew.

"We have around 4,500 more non-seated members than at the same time last year," Barnaba said.

"The West Coast Eagles Football Club is ecstatic about those numbers and takes great pride in the loyalty factor of our supporter base, which is often grossly under-estimated by people outside the club.

"We value that support immensely and it acts as a strong motivator for those charged with the responsibility of leading the club into an exciting period in its history."

The club earlier this week announced premiership and three-time All Australian ruckman Dean Cox had signed a new four-year contract - a move Barnaba said was another sign of a new era for the troubled club.

"Dean will lead a new breed of young players into and through a new era at the West Coast Eagles," Barnaba said.

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