West Coast have reinforced their status as a financial powerhouse of the AFL after reaping a $10 million windfall for WA football last year.

The club posted a record $6.04 million operating profit for the 2016 season despite the on-field disappointment of bowing out in the first week of the finals at home to eventual premiers, the Western Bulldogs.

And in an indication of the Eagles’ considerable clout, the landmark financial return does not include the $2.28 million in royalties paid to the WA Football Commission or the $1.8 million generated in development funding.

The operating profit surpassed West Coast’s previous best result of $5.8 million in 2007 — the year after they won their third premiership.

West Coast ended last season boasting $65.1 million in assets, including $14.6 million in cash reserves and $42.9 million in investments, as they enter the final season of matches at Domain Stadium.

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Fremantle recorded an operating profit of $380,889 for the same 12 months to October 31, down from $763,775 the previous season.

Play Video West Coast veteran Sam Mitchell chose to join the Ealges because they are on the cusp of AFL glory The West Australian Video West Coast veteran Sam Mitchell chose to join the Ealges because they are on the cusp of AFL glory

The Dockers’ result remains a significant return in a season when they plummeted to 16th with just four wins and were making final preparations for last month’s move to their new $109 million headquarters at Cockburn Central.

West Coast achieved their profit in a season that failed to live up to expectations after a bold run to the 2015 grand final in coach Adam Simpson’s second season at the helm.

It was the highest surplus by an AFL club last year.

The Bulldogs posted a net profit of $3.64 million after claiming their first premiership in 62 years. Fellow finalists Hawthorn and Geelong recorded profits of $2.57 million and $2.3 million respectively.

The financial achievement comes with West Coast still in negotiations over a deal to play games at the new 60,000-seat Perth Stadium from next year.

In a statement written as outgoing club chairman, Alan Cransberg said reserves would be invested back into the club’s new base at Lathlain Park.

Play Video Eagles preparing to move pre-season game to Leederville Oval after Adele concert. The West Australian Video Eagles preparing to move pre-season game to Leederville Oval after Adele concert.

“The company is proud of achieving this surplus given the current economic environment and the way that our organisation has adhered to our strategic plans and diligent cost control,” Cransberg said. “We are similarly very proud of our financial performance over many years and the funds that we have delivered back to West Australian football to support the WAFL clubs and grassroots football.

“This year we paid to the West Australian Football Commission $6.5 million and since our inception have contributed approximately $131 million.”

West Coast made $21.03 million in membership revenue — up 5.7 per cent on the previous year. Their haul of $2.79 million in merchandise sales for 2016 was second in the league behind Hawthorn.

Fremantle’s merchandise revenue fell from $2.9 million in 2015 to $1.9 million last year.