29 Feb 2016 10:19am
The GWS Giants' sponsorship revenue rose by more than $750,000 in 2015, and helped the AFL's youngest team squeak past break even prior to depreciation.
The GWS Giants' sponsorship revenue rose by more than $750,000 in 2015, and helped the AFL's youngest team squeak past break even prior to depreciation.
Marketing and sponsorship revenue rose 11% to $8.56 million in the twelve months to 31 October 2015, and the Giants posted an operating surplus of $10,597.
Revenue rose 10.4% to $35.8m with an increase in match receipts, and continuing distributions and investment from the AFL. Ticket sales were up 11% overall and home attendance rose 17%. Following depreciation and amortisation, the club posted a loss of $341k, an improvement on 2014's $529k deficit.
Giants chief executive, David Matthews, said corporate support for the GIANTS Care community program had helped to boost commercial revenue to record levels. GIANTS Care backers include ANZ, Origin Energy and Lend Lease.
The club also entered into partnerships with four companies related to directors on the Giants board, worth $1.36 million, up about $300k on last year's related party transactions.
According to disclosures in the report, Virgin Australia paid $992,500 as part of its co-major sponsorship, while PM Capital, the naming rights sponsor of the club's academy, contributed $258,400.
The club is forecasting further improvement in commercial performance in 2016, after signing a new co-major sponsor in Toyo Tires. Membership is also tracking at 20% ahead of last year.
However, the club is in the market for a new naming rights sponsor for its four annual Canberra fixtures following the end of an alliance with StarTrack. GWS is entitled to sell naming rights to Manuka Oval, which has been rebranded as StarTrack Oval for the last three AFL seasons.
GWS recently unveiled plans for an $800 million upgrade to Manuka that will include a mixed-use retail and apartment precinct at the venue. The development, in partnership with property group Grocon, has been submitted to the ACT Government for approval.