SANFL INVESTS IN GAME DEVELOPMENT & LOWERS DEBT

Published on: Mar 13 2018 | Author: SANFL |

SANFL MEDIA RELEASE

SANFL has again increased its expenditure in game development while continuing to lower its debt profile in the 2017 Financial Year, the results of which were released at the organisation’s AGM on Tuesday.

The ongoing redevelopment of Football Park enabled SANFL to reduce secured debt from $18 million to $14.5 million, while the eight SANFL clubs shared in $2.16 million generated from land sales at the precinct.

This was the second scheduled instalment of the $16 million being distributed to clubs over seven years.

SANFL’s net cash flow from operating activities decreased to negative $0.59 million, largely due to the timing of payments made in 2017.

SANFL effectively made two (one in advance) Adelaide Oval sinking fund payments and two National Insurance Program payments in the 2017 financial year, causing a $2.71 million variation in cash flow.

Key points from the 2017 Financial Year result include:

• Game development grants of $4.38 million paid to SANFL clubs;

• $2.16 million in debt reduction distributed to SANFL clubs from ongoing redevelopment of Football Park;

• Reduction in secured debt of $3.5 million;

• Reduction in financing expenses of $270,000 due to debt reduction; and

• Reduction in net assets of $3.98 million to $98.51 million mainly due to the ongoing asset impairment of Football Park due to its redevelopment.

The 2017 Financial Year also saw a further growth in game development expenditure, with increases over the past three years now totalling $1.21 million to $5.5 million. This is in addition to the game development grants paid to SANFL clubs.

“Reducing debt levels has been the Commission’s priority over the past few years to ensure the League and its clubs create a solid financial footing for the future,” said SA Football Commission Chairman John Olsen AO.

“However, we have also been careful to balance this with a continued focus on strengthening our investment in development for areas such as SANFL Juniors, our elite programs, women’s football and umpires.

“And we’re not only investing in the programs themselves but also in the skilled people needed to deliver them across schools, clubs and the community, creating the talent pathways needed to develop careers.

“This has helped push our overall participation numbers in South Australia to over 174,000, an increase of more than 15% on the previous year. The number of females playing the game at club level increased by 53%, while there was a 22% increase in girls involved in Auskick.

“We also saw continued growth in male participation at club level, which grew 3%. While financials are obviously a key indicator to the fortunes of any organisation, these are the sort of numbers that give us real satisfaction – knowing that we are delivering on our promise to make the great game of footy accessible, affordable and fun for as many South Australians as possible.”

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