Aston Villa Finances 2023/24

Jumping Someone Else's Train

Aston Villa’s 2023/24 accounts covered a highly successful season when the club finished fourth in the Premier League, thus qualifying for the Champions League for the first time in over 40 years.

In addition, they reached the semi-finals of the UEFA Conference League, which marked the first time that European football had returned to Villa Park in over a decade.

All this was achieved under the guidance of manager Unai Emery after the experienced Spaniard replaced Steven Gerrard in October 2022, which resulted in a dramatic improvement in the team’s performance.

League Position

It bears remembering how far Villa have come under owners Nassef Sawiris and Wes Edens, who bought the club completely from Tony Xia in August 2019 following promotion to the Premier League.

They have invested big money in order to compete with the traditional elite, which is reflected in the club’s financials, but it “has made significant progress against their stated focus of consolidation and improvement.”

In stark contrast, Villa were close to going out of business before their victory against Derby County in the play-off final, having spent three seasons in the Championship.

However, they have been on an upwards trend since those dark days. In fact, last season’s fourth place was their best finish in England’s top flight since way back in 1995/96.

13th Month Impact

Before we start delving into the club’s finances, it’s worth noting the technical impact of the change in the year-end from May to June, which means that Villa’s 2023/24 accounts covered 13 months, compared to the normal 12 months in the prior year.

This brought them in line with the vast majority of other clubs, but the extension also gave them an additional month to book player sales.

However, this change also resulted in an additional month of expenses, while there was little impact on revenue, as there were no matches played in June.

This factor should be borne in mind when looking at Villa’s comparatives, both against the previous year and other clubs, as this led to expenses being £33m higher (on a simple pro-rated basis).

Profit/(Loss) 2023/24

Aston Villa reduced their pre-tax loss by £34m (29%) from £120m to £86m, as revenue rose £58m (27%) from £218m to a club record £276m, while profit from player sales virtually tripled from £22m to £65m.

This was partially offset by a steep increase in operating expenses by £69m (19%) from £357m to £426m, while net interest payable was up from £3.3m to £5.3m.

Despite the improvement, Villa still posted a substantial loss, though the club said, “It is important to note that these figures are in line with the strategic business plan.”

All three of the main revenue streams were up, mainly thanks to the success on the pitch, including the return to European competition. Broadcasting was the star of the show, rising £31m (21%) from £153m to £184m, but there was also good growth elsewhere.

Commercial increased by £19m (47%) from £41m to £60m, while gate receipts rose £9m (49%) from £19m to £28m.

However, player loans fell £2.2m from £5.7m to £3.5m, though the club did book £5.1m other operating income.

Due to a combination of investment in the squad, higher performance bonuses and the 13th month effect, Villa’s wage bill increased £58m (30%) from £194m to £252m, while player amortisation also rose £4m (4%) from £93m to £97m. In addition, other expenses were up £5m (7%) from £66m to £71m.

Vila’s £86m loss before tax was the second worst in last season’s Premier League, only surpassed by Manchester United’s awful £131m. Even if we took the 13th month impact into consideration, their loss would still have been one of the highest at more than £50m.