Hawthorn Football Club has successfully navigated its way through a year of much uncertainty to record a small surplus for the financial year ending 31 October 2020.
The net operating surplus of $65,645 is owed largely to the support and loyalty of the Hawthorn family, particularly its members, sponsors and corporate partners.
Hawthorn President Jeff Kennett expressed the club’s gratitude to its members and partners in helping the club maintain its financial independence amongst the many challenges of 2020.
“The club is proud of its response and management through arguably its, and the broader industries, greatest challenge. Despite the many obstacles faced in 2020 the club has maintained its financial independence and posted a small surplus,” said Mr Kennett.
“The loyalty of the club’s membership base proved unwavering in the face of many challenges both on and off the field in 2020. We are thankful to each and every one of our amazing 76,343 members who stood by us this season.
“The club also wishes to express its gratitude to Tasmania and its commercial partners for their continued support in 2020, particularly given the impacts of COVID-19.
“On behalf of the Board I would like to thank the staff and playing group for all the sacrifices they made to complete the season in the most trying of circumstances.
“I would also like thank all those staff and players that are no longer with us due to structural changes forced upon us as we reset our club to not only survive, but to rebound beyond 2020.”
Despite a significant decrease in gross revenues the club has been able to keep the majority of its cashflows intact, ensuring Hawthorn is set up to fulfil its purpose of being a successful, sustainable and socially inclusive football club.
Key points of the report include:
- Club net operating surplus of $65,645 for the year ending 31 October 2020
- Club membership base remained strong at 76,343 for 2020
- Hawthorn’s consolidated net asset position decreased to $54.5m from $56.5m in 2019
- The club’s consolidated cash position has remained strong at $26.6m (2019: $28m) at 31 October 2020.
The 118th Annual General Meeting of Hawthorn Football Club Limited (“club”) will be held via Zoom on Tuesday 15 December, 2020, for members only. The meeting will commence at 6:30pm.