Brentford FC Accounts Show Club in Rude Health
New stadium value increased to over £100million as income rises
Ethan Pinnock celebrates a rare goal. Picture: Brentford FC
February 14, 2024
With other clubs in the Premier League facing investigation for losing too much money, Brentford’s latest set of accounts show that the club remains profitable and in rude financial health.
Although there was a drop in net earnings in the results for the year end June 2023, the strength of the balance sheet was boost by a £27million upward revaluation of the GTech Community stadium so that it is now on the books at £106.2million.
With the team securing ninth place in the Premier League last season, revenue continue to increase, even though season ticket prices were frozen, but was achieved at the cost of a big increase in players’ wages which rose from £59,727,000 to £86,152,000. This led to a drop in operating profit before player trading from £25.1million to £4.4million.
Despite breaking the club transfer record three times to buy Aaron Hickey, Keane Lewis-Potter and Kevin Schade, profits on player trading increased over the year. Last season also saw Ivan Toney become the first Brentford player to earn a cap for England in 84 years when he appeared against Ukraine at Wembley. He is widely predicted to be sold by the club for a record breaking fee later this year.
The club has £15million in cash on the balance sheet and minimal third-party debt, with most of its loans due to owner Matthew Benham on which he charges no interest. His total investment in the group comprises of equity and loans, in excess of £100million including £22.8m specifically relating to the stadium project.
Cliff Crown, Brentford FC chairman said, “The 2022/23 season marked an exceptional period of growth for our club, highlighted by our ninth-placed finish in the Premier League. Our journey has been guided by a commitment to teamwork, continuous development and the dedication and unwavering support of our fans, players, staff, directors and our owner, Matthew Benham. I want to thank them all for the part that they have played and continue to play every day.
“These financial results are pleasing but represent a significant decrease in profitability from the first season in the Premier League. Continued growth of all revenue streams is essential if the club is to continue to invest in the playing squad and in our facilities.”
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