GEELONG CEO Brian Cook is preparing for as few as seven home matches in both 2022 and 2023 at GMHBA Stadium as the venue undergoes its final redevelopment.
Work will start on the $142m stage five upgrade of the northern end of the ground at the end of the 2021 AFL season, with the Ford Stand and Gary Ablett Terrace make way for the new facility and lift capacity to 40,000.
“Our aim is to try and maintain at least seven in that first year following the rebuild (2023), preferably eight,” he said.
“If building starts at the end of this year, it will take 17 months, which takes us well-and-truly in ’23.”
Geelong limited its comprehensive net loss to $2.6m in the COVID-impacted 2020 season, and Cook expects 2021 “to be a challenging year again”.
“We’re more optimistic about ’21 than we were about ’20 because of vaccinations, because of positivity, because we’re expecting crowds to come back – albeit (at) 50 per cent,” he said.
“But it’s still going to be a real challenge for clubs even at 50 per cent. This will go on for some time, I think.
“We’re still in a state of flux. We have to remain very nimble and adaptable, and be ready for any decision that’s made by both the health authorities and the AFL.”
Cook revealed at Thursday’s announcement of an extension of Ford’s sponsorship of Geelong the Cats had four budget scenarios in place for 2021.
It includes scenarios for crowds at 25, 50, 75 and 100 per cent capacity.
“Worst case is zero capacity, which would be a $10m loss,” he said.
“100 per cent, you’re looking at a healthy profit of around $3m.
“50 per cent is getting closer to breakeven – a small loss.”
Twitter: @tom_king79
