Clubs share in $12 million windfall

Port Adelaide has stunned Geelong with a 40 point win to go top of the AFL ladder.

BOTH Port Adelaide and the Crows should be back in the black financially with football's successful return to Adelaide Oval.

After both AFL clubs made losses last year, new Stadium Management Authority chairman John Olsen has reaffirmed there will be a shared $12 million uplift for the clubs at the Oval.

This is enough to end a long string of consecutive losses at Port and would turn around Adelaide's extraordinary $1,879,341 loss last year.

"I cannot see how they can't (make a profit) — either of them,'' Olsen said.

The projections arw a sharp difference to the $3 million and $3.9 million uplifts predicted by the Crows and the Power respectively.

But the clubs and SA football are cashing in on massive crowds because of the shift of AFL football to the city and merchandise sales are mushrooming.

Olsen, who has been appointed SMA chairman for three years, said the economic impact had been visible and the ground is now hosting tourists on tours in a similar manner to the Melbourne Cricket Grounds.

Port Adelaide has stunned Geelong with a 40 point win to go top of the AFL ladder.

"I can tell you their merchandising sales are going through the roof,'' Olsen said.

"When you have four deep standing in front of merchandise sales at Adelaide Oval you've got a fair indication that they the clubs (are) reaping the rewards of the shift to Adelaide Oval.

"The Oval is a really outstanding success and we'll hopefully build on what we've already got.''

But Olsen warned not to be too seduced by the early success, and said there was much to do.

Among projects to be completed at the Oval are:

WEATHER proofing of the western stand, which was initially built for cricket

COMPLETING the northern car park with terracing, drainage irrigation and re-grassing

PERMANENT food and beverage facilities on the northern mound

BROADCAST cabling

BALUSTRADE alterations in the western stand to overcome sightline obstructions

FIT-OUT of a retail shop in the eastern stand, and

A SOUTHERN plaza entrance cafe.

"We've have a very good start but five weeks don't make the first five years,'' Olsen said.

"This is about a stable financial model.

"This is arguably one of the best stadiums in Australia and the fan experience has been good, but we can improve it.''

The former Premier yesterday took over the role of SMA chairman from former SACA president Ian McLachlan, who will remain on the SMA board as a director.

He spoke highly of McLachlan.

"The fact that our two sports are now not only co-habitating but are also in business together in a productive and harmonious relationship is due in large part to Ian's drive, determination and stewardship, for which we are grateful,'' Olsen said.

Olsen's confirmation of reports of a windfall comes as the clubs have voiced some concern over higher ground rental.

The price rise has been defended by the SMA as a necessary increase now that the clubs have virtually "clean'' stadiums — where they keep all the profits.

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