By David Owen
March 27 – AFC Bournemouth, the Russian-controlled south coast minnows getting used to life in the Premier League under their bright young manager Eddie Howe, more than quadrupled pre-tax profits to £14.6 million in the period to 30 June 2017.
The Cherries changed their year-end from 31 July, which may have resulted in staff costs, up 20% to £71.5 million, climbing by less than would otherwise have been the case. Since player registration cost additions for the 11 months were put at only £9.3 million, it may mean that the financial impact of the arrival of £20 million defender Nathan Aké, whose departure was announced by Chelsea on 30 June, is felt only in the current financial year.
As the new Bournemouth accounts themselves note, “July is historically the month where a large proportion of player transfers occur”. The document also reveals that the registrations of players costing a total £39.8 million were acquired or extended after the year-end.
As arguably the smallest current Premier League club, the Premier League TV deal is massively important to Bournemouth. Premier League income accounted for £124.2 million, or a staggering 91%, of total turnover for the latest period of £136.5 million. By contrast, match and season ticket income dropped from £5.4 million to £5.2 million, while sponsorship and advertising fell from £3.8 million to £3.6 million.
Perhaps not surprisingly, the club has secured a site for a new stadium which it is hoping will be built in time for the start of the 2020-21 season. The accounts disclose that the club paid £3.8 million in August 2017 to secure “a potential site for the future development of the football club’s facilities”. Planning permission was approved in January.
On the same day as the site acquisition, August 24, three directors – Mr N.Ponomarev and Messrs I. and O. Tikhturov – resigned from the board. Directors’ remuneration for the latest 11 months rose from £1.22 million to £1.41 million. The bulk of this – £1.23 million – went to one individual.
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