Hawthorn has posted another strong financial result in 2023, achieving both football operations and consolidated net operating surpluses.
Notably, the club’s football operations surplus was $984,603 for the financial year ending October 31, 2023. Meanwhile, the club’s consolidated net surplus came in at $1,433,431, only a year after making a full exit from gaming and hospitality venues. This highlights the strong, sustainable, and forward-thinking financial planning by the club in executing additional investment strategies to safeguard its future.
In pursuit of building the exciting Kennedy Community Centre, the club’s consolidated cash position has increased to $70.3m, up from $69.1m in 2022. A significant portion of this fund has been quarantined for construction costs. The main works build for Stage 1 of the project is expected to start in early 2024, with an anticipated project completion date in the second half of 2025.
Hawthorn’s auditors Ernst & Young signed off on the club’s annual financial report.
Hawthorn President Andy Gowers said the club was proud to maintain its financial independence amid rising cost-of-living pressures.
“Our club is nothing without its loyal members and full suite of committed commercial partners, and we want to thank them for their unwavering support in helping us maintain our financial independence,” Gowers said.
“Being in such a sound financial position ensures we remain strong and viable as a football club and allows us to embark upon a transformational project like the construction of the Kennedy Community Centre.
“On behalf of the entire Board I’d like to also thank the passionate and hard-working staff, players and coaches at our club in ensuring we continue to thrive into the future.”
Hawthorn CEO Ashley Klein also shared in the gratitude for the club’s members and loyal partners.
“Hawthorn has long prided itself on the immense support it receives from its members, community and philanthropic donors, sponsors and corporate partners – it is critical to our success both on and off the field,” Klein said.
“We remain committed to maintaining our financial independence through balancing a strong member-first mindset with forward-thinking and sustainable commercial decisions.
“From top to bottom, the commitment and alignment within Hawthorn couldn’t be stronger, providing our club with the perfect platform to continue growing our surging membership base, while most importantly keep pushing towards our next premiership.”
Key points of the 2023 financial report include:
- Football club operations net surplus of $984,603 for the 2023 financial year.
- Consolidated net surplus of $1,433,431 for the year ending October 31, 2023.
- 80,698 loyal members committing to the brown and gold in 2023, including a record-breaking AFLW membership tally (5,761).
- The club’s consolidated cash position increased to $70.3m (2022: $69.1m) at 31 October 2023, albeit a significant proportion reflects funds specifically quarantined towards the construction of KCC.
Download Hawthorn Football Club's 2023 annual report here.
