Barnsley FC accounts for 2023/24

[POGGYWELL]

Barnsley FC accounts for 2023/24 have been submitted this week, with the following headlines featuring in the Executive Summary.


The financial statements cover the 13-month period from 1 June 2023 to 30 June 2024. The extended period ensures that the financial year end is now co-terminus with the standard players contract.

Turnover fell by 0.5m from the previous season. Contributing factors include not progressing to the play-off final, as in the previous season, and moving to an outsourced merchandise retail model.

Sponsorship and advertising have increased by 42% from 555k to 788k.

Catering and events have increased by 26% from 636k to 801k.

Average league match attendances increased by 1,117 (10%) to 12,681 (11,564 in 2022/2023).

7.7m of profit was generated from the sale of players during the season. The cash received from these transfers will be received over multiple instalments and seasons.

An operating loss of ?9.6m was incurred for the 13-month period, mitigated by player trading to give a net loss for the financial period of 2.8m.

During the financial period, 4.2m of cash was injected into the Club by the shareholders as equity not as a loan or debt.

CEO Jon Flatman said, "Despite making a 7.7m profit on player sales during this period, ownership injected 4.2m cash into the Club, which is not a sustainable model. A loss of 2.8m is not uncommon across the EFL and demonstrates the need for the Football Governance Bill to be resolved as soon as possible. Losses for 2024/25 are projected as being in excess of 6m and there have been, to date, cash injections of over 5m from ownership. Commercial revenues have continued to grow in the 2024/25 season and we expect that these will also see those numbers continue to increase. We are working on ensuring the business is more efficient and generates additional revenues with the ultimate aim of improving on-pitch performance. Thank you to all supporters and Club partners for their continued support."