• Former senior administrators and coaches joined with North Melbourne Kangaroos’ Chairman, CEO and staff for today’s announcement at Arden Street
• North Melbourne Kangaroos are debt-free for the first time since 1987
• The club records 10th consecutive profit and has registered a profit 14 of the last 15 years
• The club’s peak debt reached up to $9 million in 2012
• The club recorded a profit result for the 2021 financial year of $453,189

The North Melbourne Kangaroos today announced the club is debt free for the first time in 34 years after recording the club’s 10th consecutive profit in 2021.

The announcement comes off the back of a profit result for the 2021 financial year of $453,189, excluding Government funding received for the stage 2 Arden Street redevelopment.

Kangaroos CEO, Ben Amarfio, acknowledged that this major milestone couldn’t have been achieved without the contribution of the entire club community, a point highlighted by the presence of many former senior administrators and coaches at the announcement today.

“I want to acknowledge that more than a decade of hard work and careful management has contributed to this significant result,” Amarfio said.

“We want to thank our fiercely supportive members, Match Committee and Shinboner coterie members, patrons, benefactors and our loyal sponsors, in particular long-serving key partners Mazda and Spirit of Tasmania, who have all made significant contributions in supporting our club for several years.

“In addition, I want to acknowledge the support of the Victorian State Government, the AFL and all the hard-working current and former staff, management, and Board members.

“Through this process the North Melbourne Kangaroos have become more connected than ever with our fans and, through The Huddle, united with our local community – and they share in our success today.”

Club President, Ben Buckley, also paid tribute to the Kangaroos’ community in celebrating the milestone.

“This is a great day for the club. We are so proud of where we are and the way we’ve gone about eradicating this debt. It’s a whole of club achievement and we are very grateful for everyone who played a role in getting us to this position.

“This result gives the North Melbourne Kangaroos an opportunity to look forward to a future of growth and unity and proving ourselves to be a destination club for players, members and fans,” said Buckley.

At the start of 2012, with the club debt approaching $9 million, the highest debt in its history, a focus was placed on eradicating the historical debt while balancing investment in its core business – football.

Ben Amarfio commented on how this financial result will now shift the focus of the club, allowing for new investments and leveraging opportunities on and off the field.

“Debt elimination is just the beginning of our vision and part of the work we have to do is to continue to build a strong financial base. Then, in the future, the club is in a position where we can look at using debt in a strategic way, for investment purposes, a luxury we haven’t had for a very long time, if ever,” Amarfio said.

“There are exciting things to look forward to in the future of our club. From an off-field perspective, now our focus turns to building a stronger balance sheet. In the immediate term we’re excited about the redevelopment of our facilities. Beginning in January 2022 and over the next decade the club will be an active contributor in the development of the Arden Precinct.

“We are very aware that as a football club our purpose isn’t about financial success. Our purpose is to bring our supporters joy and that is primarily via on-field success and premierships. 

“However, having a strong financial foundation sets us up as a football club to invest in our men’s and women’s football programs. Our focus for the women’s program is to build on the recent finals’ appearances, and on the men’s side we are in the embryonic stages of a massive rebuild. 

“Adding to our successful trade period we are eagerly looking ahead to the forthcoming National Draft. We have a very good hand with the club’s first-ever number one draft pick, to complement an already exciting young and talented list which we are gradually developing.”