WEST PERTH FINANCIAL STATEMENT

The West Perth Football Club is today providing a media statement in response to an article in The West Australian. We want to reassure our members, our supporters and all those who contribute to the Club that we are continuing to operate as usual and our focus is on ensuring our long-term financial sustainability.

West Perth has been a crucial part of the WAFL competition for more than 130 years, and we will continue to be so. Our supporters are one of our greatest assets and we encourage you to show that support by coming along to our last five round matches and cheer on our playing group as we head towards the finals series.

Media Statement

At the instigation of the President and CEO a complete, thorough and independent review of the Club’s finances from 2012 through to the end of the 2017 year (31/10/2017) has been undertaken. The result has been the discovery of significant creditors.

As a result, the Club has advised the WAFC and has implemented a suite of corporate governance policies and control procedures designed to prevent a reoccurrence of what has transpired. The WAFC has been fully supportive of the Board in this process.

“The West Perth Football Club is a proud, historic club and we are planning for a long and successful future; but we are currently experiencing financial difficulties.”

“Through the independent review, we now understand that our current financial position has come about over a number of years. To correct the position and stabilise the Club there has been a reduction of the long outstanding debt; however, this is placing a strain on the Club’s finances.”

“The transition to our new facility will provide a positive commercial opportunity for the Club, and we are now seeing growth in the business being generated through the function centre, which we expect will continue to grow, and will be cash positive for the Club’s finances.

“We understand the West Australian Football Commission regards West Perth as an important Club in the WAFL competition and as such, we have been working with the Commission to reach a position whereby they can support the Club to meet its financial obligations. What that support could be is still being explored. We certainly appreciate the advice and support the Commission has shown the Club during this period.

“I am confident that, through the support of the WAFC, the people who are delivering our new revenue growth strategy, and our members and supporters, the Club will be in a sound financial position.”

Scott Ballem

President, West Perth Football Club

Media enquiries to:

Linda Hamersley

Chief Executive Officer, West Perth Football Club

linda@falconsfc.com.au

0413 412 737