Netball Australia has announced a turnaround of $4.7 million in its 2022 financial results at tonight’s Annual General Meeting.
The organisation’s latest figures show Netball Australia has stabilised its financial position through strong fiscal management, helping to ensure the sport is in a better position for long-term success and sustainability.
As part of Netball Australia’s improved financial performance, the organisation was $300,000 above budget in 2022. Netball Australia still holds $4.2 million in debt, with the debt facility extended from May and September 2023 to August 2025.
The 2022 financial results were presented to Member Organisation Presidents and CEOs at the AGM.
Good cost management and growth in commercial revenues, including a new broadcast partner in the Foxtel Group, has strengthened Netball Australia’s position.
Commercial and broadcast sponsorship contributed 49 per cent of Netball Australia’s total revenue during 2022, a strong recovery from 2021 and an incremental improvement on the years prior to that.
Income from events surpassed the $3 million mark, a dramatic improvement from 2021’s result.
The 2022 Suncorp Super Netball Grand Final in Perth attracted a record crowd of 13,908 in attendance, while the Origin Australian Diamonds played in front of sell-out crowds in their Melbourne, Newcastle and Gold Coast games during the Constellation Cup and England Series.
The increasing number of corporates seeking to partner with Netball Australia also reinforces the growing interest in netball and appeal of its offerings.
Recent signings include the renewals of Nissan, Origin Energy and HCF, plus the addition of new partners including Visit Victoria, Westfield, LJ Hooker, Guzman y Gomez, and Flight Centre.
Australian netball at all levels had a strong comeback in 2022, defying participation trends noted in other community sports. According to Ausplay, which is led by the Australian Sports Commission, 1,000,600 people participated in netball in 2022 – making it the third highest team participation sport in Australia.
Netball Australia CEO Kelly Ryan said the organisation’s results show the sport is heading in the right direction.
“Being above budget in 2022 is a great turnaround and shows Netball Australia has been fiscally responsible and is able to grow its revenues,” Ryan said.
“We know there is still more work that needs to be done and we are focused on strengthening our balance sheet so that we can continue to invest in the development of the sport at the grassroots through to the elite level.
“I want to thank the boards and staff of our Member Organisations, our players, umpires and our Netball Australia staff for their commitment to ensuring the sustainability of netball for future generations.”
Also at tonight’s Annual General Meeting, Peter Legg was re-appointed to Netball Australia’s Board.
To view the 2022 Annual Report, click here.
