Netball Australia has released its 2021 financial results following last night’s Annual General Meeting.
Netball Australia recorded a loss of $4.4 million in the 2021 financial year, reflecting the ongoing impact of coronavirus restrictions nationally.
With continued support from commercial partners, Netball Australia’s revenue increased by $1.4 million to $30 million.
Just under $34.4 million was invested back into netball in 2021, in a commitment to support the growth and development of the game from grassroots right through to the elite level.
Netball Australia removed member contribution fees in 2020, in support of community netball at the start of the coronavirus pandemic. Member fees returned to the pre-pandemic figure of $2.4 million in 2021.
Netball Australia’s bank borrowings currently sit at $4.2 million and with the support of its financiers, these loans are in the process of being extended to 2025 to maintain an investment focus after two pandemic-impacted years.
To view the 2021 Annual Report, click here.
Netball Australia Chair Marina Go said 2021 was another challenging year for the entire industry.
“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.
“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.”
Netball Australia’s 2021 financial results were presented to Member Organisation Presidents and CEOs at the Annual General Meeting.
Netball Australia Director Wendy Archer AM was re-elected to the Board. Archer has served as an elected Director since 2018 and her re-election reflects her dedication to developing the sport at all levels.
A Board meeting was held after the AGM, where Michael Thomson did not seek re-appointment. Thomson will stay on as a casual Director until a First Nations Director is appointed.
