NEWS Broncos profiting in new Ikin era

[I bleed Maroon]

The off-field performance of embattled NRL club the Brisbane Broncos continues to improve with the company forecasting a pre-tax profit for the June 30 half year of $3.17 million.



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The Broncos off-field performance is improving (Photo: AAP Image/Darren England)
The company’s share price has also picked up as management of the club has changed, but the team languishes at second last on the ladder within only a handful of wins.


The forecast profit compares to earnings in the pandemic-restricted 2020 first half of about $20,000, but the club warned that investors should not take the first half result as indicative of how it will perform over the full year.


It said the pandemic and its impact on crowds made forecasting impossible.

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The Broncos said the boost came from the return of game-day crowds. The average for the six home games during the period was 22,691.


“Sponsorship revenue increased 25 per cent on the comparative period, reflecting the ability to deliver game-day and associated benefits throughout the 2021 season,” the club said.


“The support from our sponsor family has been exceptional.”


However, the club faced increased stadium operation expenses as well as player salary costs.


“It is anticipated that the evolving situation with respect to the impact of the COVID-19 outbreak on the NRL competition and the Brisbane Broncos will continue to create uncertainty for the remainder of the 2021 season,” the club said.


“Together with the NRL, clubs are working through scheduling, funding and game day logistics for future matches to ensure the competition can continue in a modified format.”


It said revenue and costs could continue to be affected by these issues and it could not accurately predict the impact on the full year profit.

Broncos profit surges, but club warns it's a weird season - InQueensland

inqld.com.au

Reigning wooden spooners? Second last on the ladder? No worries here's 3 million dollars in profit.

Seriously no wonder this club has allowed complacency to set in so deeply. The great unwashed just don't treat them with the sort of accountability they should be treated with.

 

[Waynesaurus]

Just imagine the profit if the club was going well on the field.

 

[Kimlo]

Just imagine the profit if the club was going well on the field.

At the very least ticket sales would average 10k higher.

Just some napkin maths, 10k more tickets per game sold at $25, over 12 home games is 3 million a year more profit.

 

[jd87]

yea make no mistake the power that be would be hurting that they only made 3 mill in profit these are not the kind of people who just want money they want All the money.

even though i 100% think some higher ups should fall on there sword for the way they let this club head you cannot argue the last 2 decisions in hiring DD and ikin are some of the best decisions they could possible make so at least we appear to be heading in the right direction lets just see if it continues.

 

[Kooly87]

At the very least ticket sales would average 10k higher.

Just some napkin maths, 10k more tickets per game sold at $25, over 12 home games is 3 million a year more profit.

It's not quite that straightforward as increased ticket sales also come with an ncreased cost base, but the point remains valid that increased tickets would help drive our profit up overall.

 

[tommy]

if seibold didn’t get a 5 yr deal it’s 4.17 profit this year.

 

[BroncosFever]

I don't give a shit how much profit they make, get the team on the park firing and they will make a whole lot more

 

[Kimlo]

It's not quite that straightforward as increased ticket sales also come with an ncreased cost base, but the point remains valid that increased tickets would help drive our profit up overall.

I didn't give it too much thought, but what's the increased base? More security, cleaning, etc? I half guess extra food and drink sales would cover it but obviously I have zero idea how costings work for sporting events, their Suncorp stadium contract could attract a per seat booked charge.

Either way to make 3m profit during a year with limited or no crowds at time is bloody impressive given how shit we've also been as a team. Makes me wonder how much we'd make if we were at Storm level performance.

 

[Kooly87]

I didn't give it too much thought, but what's the increased base? More security, cleaning, etc? I half guess extra food and drink sales would cover it but obviously I have zero idea how costings work for sporting events, their Suncorp stadium contract could attract a per seat booked charge.

Either way to make 3m profit during a year with limited or no crowds at time is bloody impressive given how shit we've also been as a team. Makes me wonder how much we'd make if we were at Storm level performance.

Yep, correct, although it's quite a bit more than just security and cleaning that make up the cost of selling a ticket as an NRL club, but that's probably going off track for this thread when the core point of what you've said is still largely correct.

If only it was as simple as keeping 100% of the revenue of another 10k tickets sold. A lot more sporting clubs would make profits if this were the case.

 

[Strop]

I can’t remember the figures now as it’s been a while since I had anything to do with it, but the break even crowd number was pretty high. Let’s say around 18,000* or so. Once you had to open up the top levels you really wanted to get good numbers up there to have a chance of making any money.
The big thing is getting memberships. That way, if it rains and nobody turns up it doesn’t matter as you already have the money.

* might have actually been in the 20s.

 

[Mustafur]

A Monkey could make this club profitable, one city team in the heartland of the sport, biggest fan base and most eyeballs watching every game, so our sponsorships are the most valuble even if we are shit. and a Salary cap on Players and coaching staff so we can't spend even close to our potential.

 

[Foordy]

if seibold didn’t get a 5 yr deal it’s 4.17 profit this year.

Actually, that payout came out of last years profit. Which is why it was significantly down in the second half if last year

 

[Broncapz]

A Monkey could make this club profitable, one city team in the heartland of the sport, biggest fan base and most eyeballs watching every game, so our sponsorships are the most valuble even if we are shit. and a Salary cap on Players and coaching staff so we can't spend even close to our potential.

Honestly we'd be in a lot better situation if our R&R for the last 5 years was replaced by a monkey CEO and a decision dartboard.

 

[The Strapper]

Actually, that payout came out of last years profit. Which is why it was significantly down in the second half if last year

Should have come out of Morris and Whites pockets.
Those two flogs were mostly responsible for hiring him.

 

[Sproj]

Honestly we'd be in a lot better situation if our R&R for the last 5 years was replaced by a monkey CEO and a decision dartboard.

You have clearly put more thought into a process for decision making than they did.

 

[Scorchie]

Goes to show really - we can be terribly bad and make a profit.

Yet the other clubs up the top end continually cant turn a profit, even with pokies

 

[lynx000]

I wish they were more focussed on having a successful and winning football team rather than the profit margin.

 

[Kooly87]

Honestly we'd be in a lot better situation if our R&R for the last 5 years was replaced by a monkey CEO and a decision dartboard.

Perhaps you mean a DIFFERENT monkey and decision dartboard, because evidently we already had one running the place.