A commitment to reducing costs in challenging times has resulted in the East Fremantle Football Club easing financial strain prior to its new era at Moss Street.
A commitment to reducing costs in challenging times has resulted in the East Fremantle Football Club easing financial strain prior to its new era at Moss Street.
The Sharks posted a net loss of $17,277 during the 2024 West Australian Football League season, after incurring losses of $322,104 and $139,924 in 2022 and 2023 respectively.
Prior to the start of the 2024 campaign, East Fremantle – the most successful WAFL club in history with 30 premierships – had $15,061 in total equity, an amount which had been impacted by a three-year ground development project at East Fremantle Oval, which was officially completed late last year.
As of October 31 2024, the club’s total equity deficit was $2,196.
Required to play home matches at the WACA and other WAFL club grounds while its spiritual home was being upgraded, the Sharks had limited opportunities to harness traditional income streams – such as bar, event or function-based takings.
The Sharks generated around $2.1 million in revenue last season, down from $2.3 million during 2023.
Not operating out of the WACA ground last season impacted on the club’s bar takings, which fell from $32,731 to $3,459.
In contrast, Swan Districts generated $443,434 in bar sales from 10 home matches at Steel Blue Oval last season, while West Perth yielded $283,570.
East Fremantle’s sponsorship also dipped by $108,334 to $533,842 in 2024, as did its events-based income, from $203,502 to $144,768.
However, with the club adopting cost-effective measures – coupled by $983,834 grant-based revenue and $156,499 of “other” income – the Sharks’ overall deficit was not as sizeable as recent years.
The Sharks reduced salary and wage-based expenses by $180,865 last season, along with its football-based expenses by $61,704 to $511,944.
Within the going concern component of its 2024 financial statement, the Sharks board said it had identified a series of factors which had contributed to the "material uncertainty regarding the club's financial position" and implemented measures to counter them.
These measures included securing $340,000 in government grants and pursuing additional grant opportunities, implementing cost-containment strategies, along with developing prospective medium to long-term income streams - which could include either corporate sponsorship or naming rights-based agreements.
In November last year, Adrian Bromage – who completed a Sandover and Simpson Medal double in his final season as a player with the Sharks in 1998 – was appointed full-time chief executive, following the departure of Addy Wetzler.
The winds of change were constant during the off-season for Sharks, with longstanding president Mark Stewart not seeking re-election.
Mr Stewart spent 10 years as president of the club, as part of his 19 years on the board.
Ennio Tavani was elected club president in December last year, while former premiership coach Tony Micale along with former players Jon Stagg and Darren Gaspar joined the club’s board.
East Fremantle also secured the services of 2000 Brownlow medalist and former player Shane Woewodin as general manager of football operations.
Recently in conversation with Business News, Mr Bromage said the club was excited to be back at its home ground, and was taking steps to ensure its gameday operations and overall experience for football fans would run smoothly prior to its home opener against the West Coast Eagles reserves team on Saturday, April 5.
