North Melbourne has announced an operating profit before redevelopment funding and amortisation of $685,132. The club achieved an overall net profit of $6,283,060 for the 2022 financial year ending October 31.

Total revenue increased from $39.3m to $50.5m, which included $6.2m in funding for the Arden Street Stage 2 redevelopment. The net assets of the club increased to $18.9m from $12.6m in 2021. 

North Melbourne achieved a record membership tally of 50,161, up eight per cent on the 2021 total and the first time the club has attracted over 50,000 members in its history.

Commercially, the re-signing of major club partner Mazda for a further three years was a highlight. One of the longest running partnerships in Australian sport, Mazda has been a principal partner of the club since 1999. The partnership will reach its 25th year in 2023.

Continuing the club’s commercial success, platinum partner Spirit of Tasmania extended their long-term relationship with the club for a further three seasons.   

“The latest positive result is the club’s 11th consecutive operating profit and our 15th profit in the last 16 years. This is a fantastic result and testament to the unwavering support of our members and commercial partners,” North Melbourne acting chief executive officer Chris Simmonds said.

“In 2022, the club has continued to build its off-field strength, achieved a positive financial result and further embedded itself in its Arden Street home.

“Among the notable off-field achievements, the club re-signed Mazda and Spirit of Tasmania, completed the $8m Stage 2 Arden Street redevelopment and ensured the club’s home will remain in its heartland of North Melbourne through the Arden Precinct strategy.

“Former club chief executive officer Ben Amarfio played a pivotal role in a number of key projects that have contributed to the club’s improved financial security. We thank Ben for his leadership and dedication to these critical pieces of work.”

Highlights of North Melbourne’s financial year:

• Operating profit before redevelopment funding and amortisation of $685,132. Overall net profit of $6,283,060 for the 2022 financial year ending October 31.
• Total revenue increased from $39.3m to $50.5m, which included $6.2m in funding for the Arden Street Stage 2 redevelopment. 
• The net assets of the club increased to $18.9m from $12.6m in 2021. 
• A record-breaking 50,161 North Melbourne members including 3373 AFLW members signed up.
• An eight per cent increase in the club’s overall membership number, and a 25% uplift in junior memberships.

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