Pies deliver $7m in black and white

Thinking big: Magpies chief executive Gary Pert says the club will use part of the profits to boost its football department expenditure, which this year rose to $21.16 million. Picture: Jay Town Source: Herald Sun

COLLINGWOOD has underlined its status as an AFL financial powerhouse with a $7.83 million profit.

The Magpies announced the stunning result as the AFL considers revenue restructuring to address the growing divide between the rich and poor clubs.

Collingwood chief executive Gary Pert confirmed yesterday the club had registered a profit of $7,835,080 - $4.86m through club operations and $2.97m from the AFL as part of the media rights deal.

The Magpies have chosen to use the media rights money to help fund the redevelopment of the training and administrative base at the Westpac Centre.

Pert said the club made no apologies for its strong return, which comes as many AFL clubs find it increasingly difficult to make ends meet.

"I'm proud of what the Collingwood Football Club - the board, the executive and the football department - has been able to achieve over the past four or five years," Pert said.

"It is a strong result for the club and is reflective of the strategies and work that in many cases has been under way for a number of years.

"From an industry perspective, it is a healthy sign whenever you see a club produce a strong profit because they won't be requiring further support from the AFL."

When asked about a proposed AFL gate-receipt tax, Pert said: "Taxing gate receipts is not the solution. It takes one single revenue stream for the industry that largely affects only two or three clubs in the competition as many clubs have their own stadiums.

"It would be inappropriate, for example, for Collingwood supporters to be taxed every week to push their money into opposition clubs."

The Magpies will use part of the profits to boost their football department expenditure, which this year rose to $21.16 million.

Pert said the club planned an annual increase of between $1 million and $1.5 million on football during the next three years. The rest of the profit will be channelled back to the Westpac Centre.

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