St Kilda Football Club has announced a statutory profit of $1,748,021 including government revenue, and a profit before government revenue, interest expense, depreciation and amortisation of $2,602,534 for the financial year ending October 31, 2023.
For the fifth year in a row, the club registered a record membership tally, reaching 60,239 members in 2023. This was also reflected in record membership revenue, which grew 13.6 per cent year on year from $8,665,939 to $9,848,241.
Merchandise continued to be a key revenue stream for the club. Ranking behind only Collingwood and Carlton for online sales, 2023 saw a third consecutive year of record profits in the merchandise sector. The club’s sponsorship stable has also continued to grow, with revenue up $532,948 from last year.
“In our club’s 150th year, we’ve seen very encouraging results both on and off the field,” Chief Executive Officer Simon Lethlean said.
“Seeing our membership grow not only in size but in investment is testament to our members’ unwavering support of the club, which is particularly meaningful with the current cost of living impacting our broader community.
“We also saw a significant growth in attendance across the season, with two 40,000+ crowds at Marvel Stadium and 70,000 at the MCG for our 150th anniversary game in Round 3.
“The financial implications of having crowds of this size attend our home matches cannot be understated. The profit from our MCG home game alone was more than $1 million and our hope is that this can be replicated once again when we face the Pies there in Round 2 next year.”
The club also strengthened its asset portfolio in 2023, completing the second stage of the Danny Frawley Centre.
“We are focused on building and expanding our financial capacity to allow us to invest in our on-field pursuits,” Lethlean said.
“However, doing so requires significant and increasing outlay and investment, so we need to ensure we are constantly innovating to see continual growth through core revenues like membership and sponsorship, as well as our growing STK Education products and critical fundraising initiatives, to allow us to deliver our members and fans the on-field success they crave and deserve.”
Key elements of the club’s 2023 financial results include:
- A statutory profit of $1,748,021 including government revenue
- A profit before government revenue, interest expense, depreciation and amortisation of $2,602,534
- Record membership total of 60,239
- Record membership revenue of $9,848,241
- Record merchandise revenue of $2,806,801
- Record MCG home game attendance (69,255)
- Completion of the Danny Frawley Centre for Health and Wellbeing
A full version of the 2023 St Kilda Football Club financial results can be viewed here.