HOBART, AUSTRALIA - AUGUST 22: Jack Steele of the Saints leads the team out during the 2021 AFL Round 23 match between the St Kilda Saints and the Fremantle Dockers at Blundstone Arena on August 22, 2021 in Hobart, Australia. (Photo by Grant Viney/AFL Photos via Getty Images)

The St Kilda Football Club has announced on Friday morning that they have eliminated $4.3 million from their longstanding debt which now sees the previously astronomical figure fall below the $10 million mark.

With another season of record membership, a series of private and political donations, as well as the commercial growth of the club to thank, the Saints managed to record an operating profit for the 2021 season.

The Moorabbin-based club were also proud to announce that a statutory profit of $12.8 million had been reported due in large to funding revenue, depreciation, write-offs and interest.

Continued redevelopment of their heartland headquarters had also allowed the previously sinning Saints' net assets to grow from $16.2 million in 2020 to $29 million at the cessation of October, 2021 - an increase of 17 per cent in 12-months.

Within an official statement released by the club, St Kilda CEO Matt Finnis was overjoyed to announce these gains in the face of chaos caused by Covid-19.

While the pressures and hardships of COVID-19 continued to be felt in 2021, our focus remained on executing our rebound strategy to emerge in a stronger position than when we first entered it,” Finnis said.

Finnis went on to thank the club's loyal members who remain desperate for on-field success before also extended his gratitude to both forms of Government for their monetary support of the soon-to-be-opened Danny Frawley Centre for Health and Wellbeing.

St Kilda Saints Training Session
MELBOURNE, AUSTRALIA - JUNE 20: Danny Frawley looks on during a St Kilda Saints AFL training session at Trevor Barker Beach Oval on June 20, 2017 in Melbourne, Australia. (Photo by Quinn Rooney/Getty Images)

“The development of the Danny Frawley Centre will be a key driver of the future sustainability of St Kilda and will help connect the community via integrated physical and mental health facilities and programs," he continued.   

“I have full confidence that its impact on the community, St Kilda people and past players will be immediate, and we look forward to opening the doors of the centre in early 2022."

News of this off-field strengthening in the face of viral adversity has come in the wake of the club securing talented teenagers Nasiah Wanganeen-Milera, Mitchito Owens, Marcus Windhager and Oscar Adams at the 2021 AFL Draft.

Each member of this aforementioned quartet are set to join their new teammates when they commence their first pre-season program in the coming days.

However, as the surface at RSEA Park is currently undergoing redevelopment, the Saints will be forced to train on the site of the former Moorabbin Bowls Club which also lies on Linton Street.