Bournemouth post £44.5m profit after return to Premier League

March 28 – Premier League Bournemouth has reported pre-tax profits of £44.5 million for year ended 30 June 2023 almost £100 million up from 2022’s loss of £55.5m.

The club’s turnover rose by £87.8 million to £141 million, compared to the previous year’s £53.2 million. This increase is primarily a result of the clubs return to the Premier League and its increased revenue distribution.

Additionally, the club achieved an operating profit of £52.1 million, improving upon the previous year’s loss of £48.7 million.

There was also a gain of £71.4 million resulting from the write-off of shareholder loans. In December 2022, the club was bought from previous owner Maxim Demin  by Black Knight Football Club, a partnership led by American businessman Bill Foley.

Throughout the financial year, the club said it prioritised enhancing its performance in the Premier League while maintaining financial stability. In line with this goal, the club implemented a recruitment strategy involving targeted spending on player assets.

It also reaffirmed its commitment to constructing a state-of-the-art training facility at Canford Magna – which received £7.2 million in investment in June 2023.

Bournemouth chief executive Neill Blake said: “This was an important financial year for the football club, with Bill taking ownership and investing immediately into the playing squad. The aim of securing our status as a Premier League club for the 2023/24 season proved to be successful.
“We will now continue to invest in our playing and non-playing staff, and the facilities in which they perform, as we seek to find competitive gains wherever possible. The new training facility will allow us to not only attract exciting new talent, but also give them a greater chance of realising their full potential.
“Given our relatively small stadium size, and as a result our comparatively low revenue streams, it is vital that we nurture such a positive mindset throughout the club…

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Author : Paul Nicholson

Publish date : 2024-03-28 10:48:08

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