Cats record big profit in 2023/24 financial year

THE Geelong Cats have recorded a statutory net profit of $6.6 million for the 2023/24 financial year.

The club’s operating results before interest, amortisation, depreciation expense and net asset gain income came to $6.1 million.

An increase in gross revenue of $16.2 million was underpinned by the completion of the Joel Selwood Stand.

The development helped the club break its membership record and surpass 90,000 members, and also boosted crowd attendance at GMHBA Stadium, which now has a capacity of 40,000. This will help attract other big Victorian teams, plus support the attraction of other events.

Geelong’s sponsorship and advertising was relatively consistent with the previous financial year. Its hospitality revenue saw a significant increase thanks to the introduction of Club Chin Chin.

The restaurant will continue at the stadium in 2025, expanding beyond its initial 12-month pop-up period.

“As a club we are fortunate to have the support of loyal members and fans who are integral to the club’s success on and off the field,” Cats chief executive officer Steve Hocking said after the release of the financial results.

“The club celebrated its fourth consecutive membership increase this season with over 90,000 members.

“While excited with this achievement, our community across the Geelong region and beyond is growing and our objective in 2025 is to reach 100,000 members, in line with our celebration of our 100th year in partnership with Ford Australia.”

Mr Hocking said the Cats were grateful to receive support from donors and the AFL to develop the new state-of-the-art facilities.

“The delivery of our new AFLW purpose-built locker room further integrates our women’s program within our club, providing the facilities high-performance elite female athletes need to excel on the field,” Mr Hocking said.

“The upgrade and refresh to the club’s high-performance facilities are also near completion providing all football programs the environment to chase greatness in 2025.”