March 14 – Goals Soccer Centres, an operator of outdoor small-sided football centres, has announced year end profits to December 2017 of £6 million on revenue of £33 million.
While revenue for the year was slightly down on the previous year, this reflects closure of the clubhouses at Ruislip, Beckenham, Glasgow South, Leeds and Wembley while a refurbishment and modernisation programme was undertaken.
Goals operates 49 sites, including three in California in the US, and said that it would continue the upgrading of its UK sites.
In the US the company is targeting expansion via its 50-50 joint venture with City Football Group (CFG) which has Manchester City and New York City FC in its club portfolio.
CFG has invested $16 million in cash and granted a licence to use its club brands in North America. This cash will finance the rollout of the Goals brand in North America.
To date there are two Goals centres in Pomona, California, one in Rancho Cucamonga, which opened in January 2018, with a fourth, in Covina, expected to start construction in the second quarter of this year.
The company said that all its expansion will be out of cashflow and that it will not be looking to raise more money.
Michael Bolingbroke, Interim Chairman, said: “During 2017 we made significant progress towards achieving our strategic plan with investments in the UK making an encouraging start and improving sales. There remains work to do to unlock the potential inherent value within the UK estate and this will be the number one priority for the incoming CEO. Together with CFG, our JV partner, we are pleased with the pace of growth in the US and we are already California’s leading 5 and 7-a-side pitch operator.”
Former Manchester United commercial director and England 2018 World Cup bid leader Andy Anson will join the company as CEO in April.
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