Melbourne chief executive Cameron Schwab would be buoyed by his club's financial result in 2012 given the team has endured a tough period on the field. Source: Herald Sun
A SMALL annual profit has provided a rare bright spot for AFL club Melbourne in between a horror season and potential looming sanctions.
The Demons on Monday reported an operating profit of $77,618 and a statutory profit of $19,486 for the year ending October 31.
It comes after a season in which the Demons mourned the death of club legend and president Jim Stynes, were forced to dump a major sponsor, Energy Watch, over a racism controversy and won just four games under first-year coach Mark Neeld.
"We believe our result is very creditable, given the extremely competitive environment we work in and the extraordinarily difficult year we have had," Melbourne president Don McLardy said on the club's website.
"Our poor on-field performance was a major negative factor, but this was exacerbated by a series of unfortunate events including the loss of a major sponsor and of course the tragic passing of our president."
It was the Demons' fourth straight profit, with the club having climbed out of a perilous financial position since Stynes took over the presidency in mid-2008.
The latest profit was achieved despite the club increasing their football department spending by $1.674 million this year.
But the Demons could face more pain when the AFL finalises its investigation into claims the club tanked for draft picks in 2009.
Heavy sanctions are expected if the allegations are proved, although McLardy said the club planned a strong defence.
"I can assure you we will use every resource available to us to defend the integrity of the Melbourne Football Club in the strongest possible way," he said.
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