Port Adelaide has turned over a new leaf after CEO Matthew Richardson revealed that the club had finished paying off its historical debt at the end of October.
The Power, like all clubs, suffered financial hardship during the COVID-19 era, with the lingering effects continuing to affect it until the current day.
However, as of October 31st, Richardson revealed in a letter to members, supporters and partners that the Albeton club had cleared that last of the bill, "paying off the final $1 million of historical debt".
The newfound financial freedom has coincided with the upgrades occurring at Port Adelaide's home, which is expected to be completed midway through 2026, and will help fund the football programs.
"From a peak debt of $12.5 million post-COVID, we've rebuilt a strong financial position largely through the wonderful support of our members and commercial partners, allowing us to build the financial base needed to fully fund our football programs," Richardson said.
"At the same time, we've also significantly transformed facilities at Alberton Oval, with the next stage due for completion in June 2026. These projects and the reduction in our debt position have improved the club's net asset position significantly to more than $60 million.
"This milestone represents more than debt reduction. It enables us to accelerate our strategic pillar of building a financially powerful Port Adelaide Football Club: creating a diversified asset base that generates non-core revenue while transforming our financial strength and ultimately maximising football program investment.
"To our members and partners: this achievement is directly attributable to your incredible commitment through the most challenging period in our club's modern history. Your support has enabled us to emerge stronger, more focused, and strategically positioned to now capitalise on an important period of growth and consolidation. We've made excellent gains over the last five years, but the next five should be even more significant. We look forward to sharing more with you in the new year."
Over the past 12 months, the Power has seen a $12 million increase in brand valuation, according to Brand Finance's rankings.
