Forty years ago Ainslie had a successful season although not winning the 1st grade premiership. The 1st grade team under coach John Davies played in the Grand Final but were beaten by Eastlake. Alan Bongetti kicked 105 goals in the 15 games he played. Three players brought up their 100 games during the season in Kevin Hassett, Brian Read and Ralph Rendell. Brian Read won the Club 1st grade B&F.

The Reserve grade won the Premiership by defeating Manuka in the Grand Final. The team was coached by Peter Johnson and Peter Searle was the Captain. Graham Read won the Club B&F in the Reserve grade and also won the Second Division CANFL B&F Award. Bob Dunkeld played his 100th Reserve game during the season.

In other grades the Monaro team (3rds) and U19s played in the finals both finishing 4th and the U17s played off in the Grand Final but were defeated by Belconnen.

Alan Ray was President of the Club in 1972 and Brian Palmer Vice-President.