Netball Aust confirm huge financial loss

With its 2021 monetary outcomes confirming a multi-million greenback loss, Netball Australia is within the technique of extending present loans till 2025.

The sport’s governing physique launched its outcomes following the AGM, revealing a $4.4 million loss for the monetary yr – up $1.6m from 2020.

Netball’s bleak place was revealed final week, with chief govt Kelly Ryan insisting the sport wasn’t on the point of monetary collapse.

But NA is contemplating accepting playing promoting cash because it searches for tactics to generate extra income.

As effectively as the present hit of $4.4m, a lot of the loss has been blamed on the price of working Super Netball hubs through the COVID-19 pandemic with NA’s financial institution borrowings sitting at $4.2m.

In releasing the monetary report, NA stated: “These loans are in the process of being extended to 2025 to maintain an investment focus after two pandemic-impacted years”.

With assist from industrial companions, NA’s income elevated to $30 million, with the majority of that invested again into the sport.

They have additionally slashed their govt wage invoice by virtually $600,000.

NA chair Marina Go stated 2021 was one other difficult yr for the game.

“It was another testing year financially, but I want to thank the boards and staff of our member organisations, our players, umpires and our Netball Australia staff, led by Kelly Ryan, for the work they did to ensure netball continued around the country,” Go stated in an announcement on Friday.

“The focus remains on strengthening our balance sheet, which will enable future investment in the growth and development of our game – from grassroots through to the elite level.”

The Super Netball preliminary last will likely be held on Saturday with the Melbourne Vixens and Giants squaring off for a spot within the grand last towards West Coast Fever.

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