Brisbane Broncos millions revealed by NRL club financial statement

Brisbane’s reputation as the NRL’s financial juggernaut has been reinforced by revelations the club generated revenue of more than $42 million last year – and a profit in excess of $2.8 million.

The Broncos’ financial figures, released late today, leave their Sydney counterparts in the shade, doubling the revenue generated by the vast majority of their southern rivals. While crowds were up only slightly on the previous year, the Broncos’ sponsorship revenue grew seven per cent as the club’s overall revenue increased by nine per cent.

The club has more than $20 million in cash assets and spent more than $15 million on its football expenses last year, highlighting the financial advantage enjoyed by the Broncos as the only team in Brisbane.

Chairman Dennis Watt said the club remained in a strong position to continue enjoying success and retain the bulk of their squad – they have a host of big names coming off contract at the end of the season.

“Whilst falling short of a top four finish in 2016, we have built a solid NRL team and together with strong leadership, commercial and administration teams, the club is again well positioned in 2017 for success and to deliver shareholder value,” Watt said.

“Negotiations continue between the NRL and clubs for funding and licence agreements for 2018 and beyond. While the initial deal was struck in December 2015 and subject to a memorandum of understanding, a further deed of agreement was entered into in December 2016.

“We await conclusion of the new player collective bargaining agreement, the 2018 salary cap and pathways for the post-NYC era.

“It is particularly challenging at this time to manage the long term playing roster. the strength or our brand, our culture and our values gives us confidence that we are in the best position to retain the bulk of our NRL talent.”

After halfback Ben Hunt elected to join St George Illawarra next season, it is understood the Broncos are confident of retaining the vast majority of their squad. Hooker Andrew McCullough, forward Josh McGuire and back Jordan Kahu are close to signing new deals while captain Darius Boyd and five-eighth Anthony Milford are expected to commit their futures to the club.