Sport
Collingwood’s $1.8 million loss after club takes massive revenue hit – The Age
The financial toll of coronavirus on the AFL and its clubs has been laid bare after Collingwood announced a loss of $1.8 million.
The club said it had an operating profit before depreciation and amortisation of $1,028,336, with the final declared statutory result a net loss of $1,807,130.
Collingwood chief executive Mark Anderson thanked the club’s 76,931 members after the Magpies were able to retain cash reserves of more than $8 million and maintained a net asset position of about $43 million.
“That we were able to withstand the impact of COVID-19 and remain financially independent and strong says so much about the loyalty…
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