ADELAIDE has joined its co-Adelaide Oval tenant, Port Adelaide, in declaring a loss despite the Crows’ most successful figures with crowds and membership.

And, like the Power, the Crows are forecasting a return to profit this year by earning more in a new Oval deal — and pushing that money back into new coach Phil Walsh’s football program.

Adelaide on Wednesday night reported a $408,000 loss, despite raising revenue by $5 million to almost $40 million last season. This follows Port Adelaide declaring a $2.5 million loss.

The red ink at the two AFL clubs — after record opening seasons at the new Oval while the SANFL is expected to report a multimillion-dollar profit on March 15 — will bring into question the financial success of leaving Football Park.

Adelaide gained almost $4 million more than at Football Park at the Oval last season when the Crows had record membership (54,249, up 16.9 per cent) and league-best home crowds (48,046, up 43 per cent). This $4 million gain met the club’s non-negotiable goal of making at least $3 million in net revenue from leaving West Lakes.

But while Adelaide banked more money, the Crows also spent more — following the trend in AFL football where clubs are caught in an arms race to fund their premiership chase.

There also were extraordinary one-off costs — such as paying out sacked coach Brenton Sanderson’s contract and some of his staff — and unexpected higher costs ($500,000) in putting on games at the Oval compared to Football Park.

media_camera Crows captain Taylor Walker celebrates a goal in Showdown 37. Picture: Sarah Reed

Adelaide chairman Rob Chapman and new chief executive Andrew Fagan presented a concise financial plan to earn more, to spend more in football so that Walsh’s team has a top-eight budget and to continue carrying the club’s longstanding commitment to underwriting SA football.

Adelaide’s financial sheets also show the Crows have lumped their 15-year commitment to the SANFL — that will demand at least $8 million — into last season’s balance sheet.

Chapman revealed the Crows must earn $3.35 million — to cover commitments to the SANFL, AFL equalisation fund and a government transport levy of $700,000 last year — before “we can bank anything that allows us to invest back in our business”.

“And we will return to profit this year, particularly when we will not have the one-off costs from last year,” Chapman said. “We also will maintain our philosophy of investing in our football department — that is what our fans want to see and what our members want.”

Adelaide’s football spend last season ranked in the 8-12 bracket across an 18-team national league. This will rise to the top-eight this year.

Fagan declared the Crows’ football spend would be to the maximum of the AFL-dictated cap (estimated $20 million) and avoid rising to levels that would incur a “luxury tax”.

Fagan and Chapman both noted the biggest challenge in the AFL is beating the high inflationary pressure on football department spending.

“As a league, we need to curb that spending,” Chapman said.

Adelaide will get $1.5 million more from the new Oval deal this season. Fagan noted there also is an extra $300,000 to gain in selling LED advertising space at the Oval.

Adelaide, the Power, St Kilda and Brisbane are the four AFL clubs to have reported losses from last season.