Brentford Finances 2023/24

Love To Stay

Brentford’s 2023/24 financial results covered a “challenging” season where they finished 16th in the Premier League, though they did secure their place in the top flight for a fourth consecutive year.

In addition, they went out of both domestic cup competitions at the third round stage, losing to Wolves in the FA Cup and Arsenal in the EFL Cup.

League Position

Although Brentford dropped seven places in the league, as they had finished an impressive ninth the previous season, chairman Cliff Crown argued that this still “marked one of our greatest achievements in the Premier League to date”, given the number of players that suffered long-term injuries.

Despite the setback, Brentford have clearly come a long way, as they were playing in League Two only 15 years ago. Supported by owner Matthew Benham, who fully bought the club in June 2012, both in terms of financial contributions and a smart, data-led recruitment policy, the club has made great progress on and off the pitch.

Profit/(Loss) 2023/24

However, last season Brentford swung from a £9m pre-tax profit to an £8m loss, a decline of £17m, as significant investment in the squad led to a £35m (21%) increase in operating expenses from £166m to £201m, while net interest payable quadrupled from £1m to £4m.

This was partially offset by a significant improvement in profit on player sales from £6m to £25m, though revenue was flat at £167m.

The club said that it had done well to maintain revenue at the same level, despite external economic pressures and a drop of seven positions in the league.

That led to a £7m (6%) reduction in broadcasting income from £135m to £128m, though this was offset by commercial income rising £8m (38%) from £20m to £28m. Match day was unchanged at £11m.

In addition, other operating income was up from £3.6m to £5.4m.

Investment in the playing squad drove sizeable increases in the cost base, as wages rose £15m (16%) from £99m to £114m and player amortisation was up £5m (15%) from £31m to £36m.

There was also steep growth in other expenses, up £11m (36%) from £31m to £42m, and depreciation, up £3.4m (64%) from £5.3m to £8.7m, mainly due to more expenditure on the new stadium.

Only four Premier League clubs have so far published accounts for 2023/24, so comparisons with the other clubs are based on the latest available figures from the 2022/23 season.

We can see that even though Brentford have slipped to an £8m pre-tax loss, this is still one of the better results in the Premier League, as there have been many large losses reported elsewhere, e.g. Manchester United lost a hefty £131m in 2023/24, while half of the league lost more than £50m the previous season.