Profit for Tigers
21/11/2008 11:32 AM
Richmond has announced a profit of $395,000, its fourth consecutive yearly surplus.
The Tigers recorded a net profit of $8.01 million but that included significant grants from the Federal and State Governments for the Punt Road redevelopment and the creation of the Australian Institute for Indigenous Learning and Development.
The club's coffers have swollen by more than $10 million in the past four years.
The profit came in a year in which the club, while again missing the finals, posted a record a membership in excess of 39,000.
Significantly, the profits coincided with increased spending on the club's football department.
The club has lifted spending in that area by $3 million in the past three seasons, including an additional $1.4 million this year.
Already this off-season, the club has announced the return of favourite son Wayne Campbell, who will be the Tigers' midfield coach next season.
With the global economic climate unsettled, the Tigers have taken a conservative approach to planning for next year but still expected to make a profit.
"Difficult challenges remain for the club, particularly in the areas of sponsorship and corporate income for 2009, but we are currently proactively pursuing all options," the Tigers' CEO Steven Wright said in a statement.