Australian Football League Sydney Swans Report Small Profit

Australian Football League Sydney Swans have "capped their AFL premiership success" with a '12 financial year profit of A$207,007 ($218,000), according to the AAP. Swans Chair Richard Colless said that the club's second successive profit, after losses in '09 and '10, was "in line with its three-year plan." Colless: "The modest profit, posted after achieving the ultimate objective of winning the 2012 AFL premiership, reflects the reality of fielding an elite sporting team in Australia's most competitive sporting market and in one of the world's most expensive cities to live." Colless added that the result, which takes into account non-cash expenses of A$391,633, was a fair result given the stadium's redevelopment, "which made 10,000 seats unavailable for the entire season" (AAP, 12/19).