Australian Football League side Geelong’s "rapid rise up the ladder this year" may not be reflected on its financial balance sheet this season, unless it makes the grand final, according to Greg Denham of THE AUSTRALIAN.
Geelong CEO Brian Cook said that "the new premiership favourites could still record a third consecutive loss despite record membership levels and a vastly improved start to the year." After 15 years of consecutive profits under Cook, the Cats lost a combined A$3.6M ($2.6M) over the past two years and Cook said the club had budgeted for a loss of $500,000 ($368,000) this year. Cook said, "We re-forecast every three months, but at this stage I doubt anything will change unless we make the grand final. We also budgeted for a record 51,000 members which we should hopefully achieve this week." The club hit a record membership last year of 44,312 but the acquisition of Patrick Dangerfield from the Crows and its "good start to the season has enabled the club’s minimum forecast to be met." Decent profits "are not anticipated again until stage four of their stadium redevelopment is completed at the end of May next year." Capacity "will increase from this year’s limit of 26,500 to 36,000" (THE AUSTRALIAN, 5/10).
