A-League Melbourne Demons Report Profit For Second Consecutive Season

Australian Football League side Melbourne Demons reported a A$562,000 ($404,000) profit for the '14-15 financial year, up from a A$160,000 profit in '14, according to THE AGE. Total revenue grew by A$2.4M ($1.7M) to A$44.5M ($32M) "with football department investment growing" by A$1.7M ($1.2M). The club reported that "the result allowed it to reduce bank debt" by A$800,000 ($576,000) and gaming machine entitlements debt by A$561,000 ($404,000). Club CEO Peter Jackson said, "To generate a profit for the second consecutive year is a pleasing result for the Melbourne Football Club and reinforces that we are on the right path as a club. ... The increase in AFL distribution funding and equalization of $1.2 million was reinvested entirely back into the football department, which goes to the heart of what the new equalization measures were created for" (THE AGE, 11/23).