The GIANTS have released their 2023 financial results as they continue their post-Covid recovery.

The club fell short of its 2023 budget by $900k to record an overall operating loss of $2.75m before interest, depreciation and government grant funding.  

The financial result reflected a variety of factors, with unsold commercial assets a significant contributing factor. Since this time, the club has secured a new multi-year multi-million-dollar naming-rights partnership with ENGIE as well as a new major events deal.

Last week the club passed 30,000 members, the quickest the club has ever reached this mark, with membership revenue up 57 per cent year on year. Saturday’s sold-out Opening Round match at ENGIE Stadium was the club’s highest-ever revenue game at the venue.

GIANTS President, Tim Reed, said:
 
“As a start-up, our trajectory has not been linear, but it has been positive in a large but diverse and competitive market.

“As we enter the next phase of our business, we are focused on compounding consumer, commercial and community growth and as we start the 2024 season, we’re seeing significant uplifts across these areas of our business.

“Following the COVID interruption that caused significant impact to our business, we have now reached a re-set phase across both football and administration, with a strong focus on increasing club generated revenue and developing new revenue streams.
 
“In collaboration with the AFL Commission and Executive, the club has a strong strategic plan in place with football performance, fixturing and investment in growing the game in NSW the biggest levers for financial performance.

“With the introduction of Opening Round and the performance of our AFL team, we’re already seeing the positive returns for the club as we look ahead to successful 2024 AFL and AFLW seasons.”