North Melbourne is set to gain another massive boost to its long-term financial stability with the launch of the Arden Fund.
The fund will be set up to provide an ongoing financial pipeline for the club by creating revenue streams or building an asset base for the long-term benefit of the North Melbourne Football Club.
The club is now in the best financial position in its 153-year history and President Dr Sonja Hood said the creation of the Arden Fund was another crucial step in helping the club secure its long-term future at its North Melbourne home.
“The establishment of this fund is a real game changer for us,” Dr Hood said.
“North Melbourne has gone from strength to strength in building a rock-solid foundation over the past decade and a half but now we can really get into club-building mode,” Dr Hood said.
“We’ve eradicated our debt, so we can move confidently towards guaranteeing the club’s long-term financial viability by establishing this future fund.
“We’ve only been able to do that through the vision created by our past leaders – most recently through Ben Amarfio, Carl Dilena and Eugene Arocca, and via the work of past Boards led by Presidents James Brayshaw and Ben Buckley.
“Our members and supporters were the cornerstones in helping us wipe out our debt and now their loyalty and commitment to the Roos can help us build ongoing sustainability like never before.
“We’ve made some tough decisions in the past few years with a view to building long-term success on and off the field for our men’s and women’s programs.
“Now, with Alastair Clarkson coming on board, our AFL players committing their own futures to the club, and our women’s team’s encouraging start to the AFLW season, we’re on the verge of exciting times.
“The Board and management are committed to growing the club on and off the field so we’ll have more on this and other club-building projects – like our plans for the Arden Precinct – in the coming months.”
The Roos will invite members and supporters to contribute towards the fund as part of their membership rollover each year. There will also be a structure for fundraising through bequests and one-off donations.
The club will appoint three custodians to carry out the functions of the Arden Fund, with an investment committee formed to develop an investment plan and strategy. The committee will make recommendations to the fund custodians on the investment and application of the capital fund.
The Arden Fund will be a wholly owned subsidiary of North Melbourne Football Club and the assets will be consolidated onto the club’s balance sheet.
Strict rules will apply as to how the funds will be allowed to be used and donations requiring tax deductibility will need to pass through the Shinboners Foundation and/or the Australian Sports Foundation.
