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$500,000 lifeline for Swans
25 August 2003 Herald Sun
By TIM MORRISSEY
SYDNEY'S new love affair with the Swans has helped save the club from a financial disaster this season.
After the biggest AFL crowd of the season filled Telstra Stadium on Saturday night for the Collingwood blockbuster, the Swans are close to breaking even for the year.
New Sydney chief executive Myles Baron-Hay said the crowd of 72,393 would have a big impact on the club's bottom line.
"We are not far from break even," Baron-Hay said.
"It's looking healthier, but we've still got a challenge ahead of us financially and that's the challenge I'm excited by.
"Seventy-two thousand is going to be a big help, but we are not going to be complacent. There's a long way to go."
Baron-Hay revealed the Swans would make around $500,000 net from the game and, with SCG crowds 16 per cent up on last season, the club's financials are ahead of what they budgeted for at the start of the season.
Sydney is still expected to finish in the red, but the overall picture is looking better than a few months ago when chairman Richard Colless said that unless the Swans received a $1.5 million one-off grant from the AFL, they would not be able to continue operating after October.
Baron-Hay is now hoping the Swans won't have to ask for the financial lifeline.
"We'd like to be financially independent and we're striving to do that and we'd rather not (ask)," Baron-Hay said.
"An event like Saturday night, which has been a record, helps you to cement relationships with sponsors, cement relationship with members, prospect new members, new sponsors and grow a revenue base and turn around the financial situation.
"At the end of the day, the longer-term vision is about winning a Grand Final and being financially strong and financially stable and independent."
25 August 2003 Herald Sun
By TIM MORRISSEY
SYDNEY'S new love affair with the Swans has helped save the club from a financial disaster this season.
After the biggest AFL crowd of the season filled Telstra Stadium on Saturday night for the Collingwood blockbuster, the Swans are close to breaking even for the year.
New Sydney chief executive Myles Baron-Hay said the crowd of 72,393 would have a big impact on the club's bottom line.
"We are not far from break even," Baron-Hay said.
"It's looking healthier, but we've still got a challenge ahead of us financially and that's the challenge I'm excited by.
"Seventy-two thousand is going to be a big help, but we are not going to be complacent. There's a long way to go."
Baron-Hay revealed the Swans would make around $500,000 net from the game and, with SCG crowds 16 per cent up on last season, the club's financials are ahead of what they budgeted for at the start of the season.
Sydney is still expected to finish in the red, but the overall picture is looking better than a few months ago when chairman Richard Colless said that unless the Swans received a $1.5 million one-off grant from the AFL, they would not be able to continue operating after October.
Baron-Hay is now hoping the Swans won't have to ask for the financial lifeline.
"We'd like to be financially independent and we're striving to do that and we'd rather not (ask)," Baron-Hay said.
"An event like Saturday night, which has been a record, helps you to cement relationships with sponsors, cement relationship with members, prospect new members, new sponsors and grow a revenue base and turn around the financial situation.
"At the end of the day, the longer-term vision is about winning a Grand Final and being financially strong and financially stable and independent."
