Bulldogs announce 2020 financial result

[bornadog]

Link (https://www.westernbulldogs.com.au/news/839061)

https://resources.westernbulldogs.com.au/photo-resources/2020/11/30/b6b085cd-f904-4e5f-a556-2830018bf48f/HERO_301120Financial.jpg?width=952&height=592

The Western Bulldogs have announced a total profit of $1,801,370 for 2020.

The result, achieved in a coronavirus-impacted year, is the Club’s seventh consecutive year of total profits, and its fifth consecutive year of total profits in excess of $1 million.

The Bulldogs finished the financial year with net assets of $50,570,342 (up from $48,785,225 in 2019) and cash at hand of $9,090,832 (up from $7,893,272 in 2019).

The Club finalised the sale of its two gaming businesses in November after year end (Club Leeds in Footscray and The Peninsula Club in Dromana). The current year financial statements do not include any financial effect of that sale.

Likewise, the $36.6 million funding announcement by the State Government in November for Stage 2 of the Club’s redevelopment has not been accounted for in this year’s financials.

“2020 has been an extremely difficult year for everyone, and for the Club to emerge in a stronger financial position at year’s end is an outcome we’re delighted about,” said Bulldogs President Peter Gordon.

“We are grateful for the support of our Board, management and staff, our sponsors, members and fans, the AFL, and other key stakeholders in helping us achieve this result. I especially want to acknowledge the continuing support of the Andrews Government and also the important role the Federal Government played in ours and so many other businesses through its JobKeeper program in this difficult year.

“38,000 of our members stood by us this year despite not being able to attend any games and their loyalty played a significant role in the financial outcome we achieved. We understand the position of many other loyal members whose financial position did not allow them to extend their usual support in 2020, and we look forward to seeing you all back at the Club and at our men's and women's games in 2021, when the circumstances permit.

“The Club made many difficult decisions in 2020 to reset its cost base, including a full staff restructure and the implementation of numerous cost-saving efficiencies.

“We acknowledge and thank the staff and players who are no longer with us due to the forced restructure, for their service to our club. We are sorry for the effect many hard decisions we made, had on these people through no fault of their own.

“Despite a 2020 financial result which is significantly better than we first expected when the pandemic hit, we know that coronavirus could still have an impact on the Club into the future, and there could be further setbacks.

“We have undertaken a significant amount of planning for 2021, including considering a number of potential scenarios for the year ahead. This will be managed closely across the year to ensure we can again move quickly to make prudent financial decisions as required.

“Support from our members will be crucial to our financial prospects into the future.”

To download the Club’s 2020 Financial Report, click here. (https://resources.westernbulldogs.com.au/aflc-wb/document/2020/11/30/d38d2578-3eae-4e60-ae15-bf6b288b8f93/WB_2020_FinancialReport.pdf)

The Club will hold its Annual General Meeting on Monday, December 21.

[GVGjr]

We have been truly blessed to have dedicated supporters and a sensational administrative department
Who would have thought that this sort of result was achievable 10 years ago and especially after a shocking year with Covid challenges

We are still staring into some head winds for 2021 and beyond but I think we are well placed to maintain the momentum

[DOG GOD]

In a year that we have had, this is a brilliant result.

[ledge]

Loyal supporters , respect for the guys we had to let go and to acknowledge it all with a statement like this is one of the most brilliant peices of PR work I’ve ever seen .
So proud of how we handled things.
Barrett’s going to find it hard to pick on this one.
Essendon and Collingwood are officially a disgrace, I hope Dunkley sees the light and thanks his lucky stars , he was going to a club who was going to freeze 70k of his salary 5 minutes after offering it.

[GVGjr]

From what I have read your assumptions about Essendon are are just wrong Ledge
To me it's really not the time to be laying the boots into other clubs when we should just be acknowledging the sacrifice so many Western Bulldogs people made to help achieve the result we have

I'd rather focus on how the Players have made a significant contribution, how the admin department lost many fine people, losing assistant and development coaches, the footy and recruiting departments and of course how the members all chipped in

On paper it's a great result but it came at a cost and I don't want that to be lost because of what might be happening at other clubs

[The Doctor]

Outstanding result. well done by the club but a big shout out to everyone who contributed to the club in this difficult year.

[The Adelaide Connection]

In a year that we have had, this is a brilliant result.

In a normal year this is a brilliant result. This is meteoric.

[Eastdog]

In a tough year this is an excellent result.

Go Dogs!

[EasternWest]

From what I have read your assumptions about Essendon are are just wrong Ledge
To me it's really not the time to be laying the boots in

Are you new here?

[BornInDroopSt'54]

Ten million more than EFC. We are stronger financially than them.

[Eastdog]

Ten million more than EFC. We are stronger financially than them.

For a long time that mob north of the Maribyrnong River has it over us financially now the tables have turned :D

[ledge]

Are you new here?

Direct him to the Essendon posts.
I’m not alone

[jeemak]

Direct him to the Essendon posts.
I’m not alone

Nah Ledge I think you're on a bit of an island man....we're pretty civil when it comes to Esserden.

[Grantysghost]

Great that only 128k of that was from gaming. I was slightly worried that it would dent the bottom line more than that, however considering the profit it looks as if we can happily be rid of them with only positive community impact. Wonder if Hawthorn, Essendon et al will follow suit. From what I can tell we haven't included the profit from sale of the gaming machines in this year's report, it will be included next year.
We still need to replace the significant Mercedes Benz Principal Partner sponsorship as far as I'm aware.
$9 million cash (7.5 in bank) is a brilliant position, that would have taken a massive hit if it wasn't for the amazing members. Revenue from membership was 7 million, down from 8 million in 2019. Considering that's basically a donation it's a credit to everyone who could keep their money with the club.

[Eastdog]

Very happy that I was in a position to pledge my membership for 2020. I’m all signed up for 2021. Hopefully we get the gate revenues next year.

[josie]

Great result. Well done PG, other officials, staff, players and members. Let’s back this up with a great on field performance in 2021.

[FrediKanoute]

I agree the result is impressive.

[SonofScray]

Direct him to the Essendon posts.
I’m not alone

I think you need to pull up a little bit Ledge. There can't be any joy in kicking our shambolic, pitiful neighbours across the Maribyrnong. Surely the association to such a poor reflection on the game of Australian rules is bad enough for them, without their accomplished, aspirational, honest and hard working neighbours sneering at them over the fence.

I think we have a responsibility to look after these minnow clubs.

[WBFC4FFC]

I think you need to pull up a little bit Ledge. There can't be any joy in kicking our shambolic, pitiful neighbours across the Maribyrnong. Surely the association to such a poor reflection on the game of Australian rules is bad enough for them, without their accomplished, aspirational, honest and hard working neighbours sneering at them over the fence.

I think we have a responsibility to look after these minnow clubs.

Stop looking backwards guys. Have to focus on knocking-off those ahead of us!

[HOSE B ROMERO]

Boy oh boy this is a terrific club to be part of. Our administration has become the envy of the league.
Itching to pull on the boots for 2021.