Financial Results

  • Financial Results

    Brighton 2019/20: Reel around the Fountain

    Introduction Getting to the Premier League is an expensive business as many clubs in the Championship have found out, with operating losses in that division exceeding £600 million pre-Covid. Remaining in the Premier League can also be costly, as Brighton have proven in announcing their 2019/20 financial results. Income All clubs divide their revenue into three categories, matchday, broadcast and commercial. Having matches taking place behind closed doors at the end of the season meant that Brighton’s matchday revenue fell by over a quarter to £13.5 million. Albion make about £1 million per home match, more so against the big teams, and so this meant that they are likely to…

  • Financial Results

    Crystal Palace 2018/19: Dissidents

    Summary 2018 £’m 2019 £’m Change Revenue 150 155 +3.4% Wages 117 119 +1.7% Operating losses (39) (36) -7.3% Player sale profits 2 46 +1,795% Pre-tax profit/(loss) (38) 5 Squad cost 197 208 +5.3% Borrowings 64 83 +29.4% Introduction Blog updates during a pandemic when we should be doing the day job appear to be the in thing for public sector employees so here’s my look at Crystal Palace’s 2018/19 finances. Only one other club remained to publish their accounts in the Premier League following Palace, and it will come as no surprise that Mike Ashley’s Newcastle are the guilty party here and they hurriedly put theirs out within a…

  • Financial Results

    West Ham 2018/19: Flares’n’Slippers

    In January 2020 David Sullivan, West Ham’s controlling shareholder said “Overall, I believe the club’s in a far better state than 10 years ago” so we thought we’d put that to the test with a look at the club’s finances during that period. Decade of success or standing still? The West Ham that Sullivan and Gold acquired from the former Icelandic Bank owners was certainly in crisis, but have their efforts improved the happiness of fans who now attend the rented London Stadium? Rebelling fans know West Ham have just announced their accounts for the year ended 30 June 2019, and like events on the pitch last season, disappoint more than…

  • Financial Results

    Brighton 2018/19: Switch

    Introduction A lot of money is required to get to the Premier League, but as the 2018/19 Brighton and Hove Albion accounts reveal, it takes a lot to stay there too. Losses of £21 million were announced for the year to 30 June 2019, reversing a profit of £12 million the previous season as the club finished in 17th position in the table. Investment in players was the main reason for the deterioration in the financial results, as well as some one off costs following Chris Hughton’s sacking the day after the season ended. Income Just ten years ago Brighton’s income was £5 million for the whole season, but this…

  • Financial Results

    Manchester United 2018/19: Waterfall

    In May 2018 Ed Woodward, Manchester United’s vice-chairman said, “Playing performance doesn’t really have a meaningful impact on what we can do on the commercial side of the business.” Down at the Stretford End hardcore United fans were unimpressed with the comment at the time and no doubt Woodward is squirming after the club’s moderate start to the 2019/20 season. Reds fans know United have just announced their accounts for the year ended 30 June 2019, and like events on the pitch last season, they are a mixed bag of results. Income A Football club generates income from three main sources, matchday, commercial and broadcasting. The matchday income for Manchester…

  • Financial Results

    Hull City 2018/19: Doppelganger

    Assem Allam, the Hull City owner, is not a popular man with the fans of the East Riding Championship club. Last season the club finished 13th in the Championship which was a reasonable if forgettable position. Losing 8 games out of the first 12 had left Hull at the bottom of the division in October but things improved on the pitch slowly and at one point Hull were in with a chance of making the playoffs. A look at the club’s accounts reveals a mixed bag too, although the club deserve some credit for (again) being the first of the 92 to publish results for the previous season. Many fans…

  • Financial Results

    Scunthorpe United 2018: The Light Pours Out Of Me

    Introduction Peter Swann, the Scunthorpe United owner, recently claimed “we are probably one of the best-run clubs in the Football League” so it’s time to take a look at the finances of the Lincolnshire team, presently sat at the bottom of League Two. EFL chairmen may have to decide soon in terms of Bury’s appeal to be reinstated to the league and if so, there will be two rather than one sides relegated to the National League. The chances of a club in a position similar to that of Scunthorpe voting for reinstatement are remote as it could be the difference between survival or demotion to the National League. Income…

  • Financial Results

    Sheffield Wednesday 2017/18: When the sun goes down

    Championship football may be the most unpredictable and exciting in the country, but it comes at a price, and Sheffield Wednesday’s very delayed 2017/18 accounts are no exception. Huge losses are run up in the division as chairmen leave common sense behind and twist on 18 in the hope of achieving promotion to ‘the promised land’ of 8pm kickoff on a Monday night at home to Watford. Accountants can now be as valuable as strikers if they can come up with schemes that Baldrick from Blackadder would call ‘cunning’ and help clubs avoid the laughably called Profitability and Sustainability (P&S) points deductions of up to 12 points. No club apart…

  • Financial Results

    Leeds 2018: Heartland

    Overview Standing on the brink of promotion to the Premier League, playing exciting football and with a cult hero as a manager, Leeds United are cool to like again. The club’s recently published accounts show that this success hasn’t come free but by the standards of the Championship Leeds have been a model of restraint compared to other owners who have gambled with the existence of their clubs. Elland Road regulars have plenty of experience of improper owners and at present they seem to be operating with a competitive budget without going overboard. Very few clubs get promoted making a profit and whilst Leeds are unlikely to do so themselves…

  • Financial Results

    Newcastle United 2017/18: Apply Some Pressure

    Introduction Mike Ashley, Newcastle United’s unloved owner, has finally submitted the accounts for the year ended 30 June 2018 for public scrutiny as The Toon became the final Premier League one to produce results for 2017/18. In the club’s first season back in the Premier League after winning the Championship Newcastle reversed the big losses and managed to reduce wages from 2016/17, the latter of which is a first for a promoted club. Kind words are in short supply in Tyneside for Ashley, who bought the club in May 2007 and has overseen two relegations since then. Easy to criticise, and hard to love, but is Ashley as bad as…