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Netball Aust confirm huge financial loss

3 minute read

Netball Australia has revealed a $4.4 million loss for the last financial year.

With its 2021 financial results confirming a multi-million dollar loss, Netball Australia is in the process of extending current loans until 2025.

The sport's governing body released its results following the AGM, revealing a $4.4 million loss for the financial year - up $1.6m from 2020.

Netball's bleak position was revealed last week, with chief executive Kelly Ryan insisting the game wasn't on the brink of financial collapse.

But NA is considering accepting gambling advertising money as it searches for ways to generate more revenue.

As well as the current hit of $4.4m, much of the loss has been blamed on the cost of running Super Netball hubs during the COVID-19 pandemic with NA's bank borrowings sitting at $4.2m.

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

With support from commercial partners, NA's revenue increased to $30 million, with the bulk of that invested back into the game.

They have also slashed their executive wage bill by almost $600,000.

NA chair Marina Go said 2021 was another challenging year for the sport.

"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 said in a statement 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 final will be held on Saturday with the Melbourne Vixens and Giants squaring off for a place in the grand final against West Coast Fever.

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