April 3 – Premier League Brighton and Hove Albion have reported a record profit after tax for the 2022/23 season of £122.8 million, a jump of almost £100 million on the £24.1 million reported the previous year.
Turnover also grew a record 17.2% to £204.5 million, against £174.5 million.
The club attributed the revenue growth to their best ever sixth-place finish in the Premier League which contributed a higher merit payment, as well as a run to the semi-final of the FA Cup.
Key contributors to the profitability and revenue increases were increased broadcast revenue and profits on player trading
Broadcast income grew from £126.2 million to £155.2 million, partly due to increased merit place with a 6th place finish versus the prior year’s 9th place, alongside additional TV picks for the club.
The big win for the club came in player trading. New players were added to the squad at a discounted value of £61.9 million (2022 – £69.5 million), whole profit on player sales was £121.4 million.
The figures include the fees received for Alexis Mac Allister, Yves Bissouma and Marc Cucurella, as well as compensation for Graham Potter’s move to Chelsea. There is more good news for the accounts for 2023/24 the figures do not include fees received for the sales of Moises Caicedo and Robert Sanchez, both of which were concluded after 30 June 2023.
Matchday income increased to £24.6 million from £20.6 million, while commercial income increased from £15.4 million to £17.9 million which is attributed to a “very good” retail year.
Football costs, which include all costs and wages associated with the first team, development squad and youth academy, increased from £126.4 million to £144.4 million.
Deputy chairman and chief executive Paul Barber said: “These accounts will of course catch the eye, because of the headline number. In a season when we made history on the pitch we took a huge step forward in terms of the club’s long-held aim of becoming more sustainable and less reliant on Tony Bloom’s incredibly generous levels of investment.
“For the first time since Tony made his first interest free loan to the club back in 2007 we have been able to make a substantial repayment to him reducing the loan balance from £406.5 million to £373.3 million.
The club is ploughing some of the profit back into infrastructure with multi-million pound investment in a new external fan zone which, subject to planning, Barber said would be completed in summer 2024.
“We now have a very solid platform to continue to make significant progress on the pitch, by investing in our squad, and off the pitch by making the match day experience even more enjoyable for our supporters, all of which we believe will help us to continue to grow,” said Barber.
“The dream is to be regularly challenging for a European place and for silverware.”
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