Brighton and Hove Albion Finances 2023/24

Logical

Brighton and Hove Albion’s 2023/24 accounts cover a season that owner Tony Bloom described as “historic” after the club played in Europe for the first time.

Although Albion’s position in the Premier League dropped from 6th to 11th, this was still the third highest finish ever for the club. Furthermore, they reached the last 16 of the Europa League after winning their group, ahead of European mainstays, Ajax, Marseille and AEK Athens.

Nevertheless, head coach Roberto De Zerbi left at the end of the season “by mutual consent”, though this was attributed to his public discontent about Brighton’s recruitment strategy.

However, the club has continued to do well under former St. Pauli coach Fabian Hürzeler, who became the youngest permanent head coach in Premier League history at just 31 years of age.

Profit/(Loss) 2023/24

Brighton’s pre-tax profit fell from £133m to £75m, though Bloom was fully justified in calling this “another healthy profit”. Revenue increased by £18m (9%) from £204m to £222m, which was a new club record, but profit from player sales dropped from £121m to a still more than decent £110m.

In addition, other operating income fell £21m from £25m to £4m, as the prior year included £23m compensation from Chelsea for taking Graham Potter and his support staff, and operating expenses rose £42m (19%) from £220m to £262m.

The net impact of the Monks Farm development was negligible with a £0.1m loss, based on £38.3m revenue, £1.3m other operating income and £39.7m cost of sales. If this revenue were included, total turnover would be up to £261m.

Profit after tax was down to £43m after considering a £32m tax charge.

All there revenue streams were higher, partly due to playing in Europe, led by broadcasting, which rose £9m (6%) from £155m to £164m. There was also decent growth in commercial, up £6m (25%) from £25m to £31m, and match day, up £3m (13%) from £25m to £28m.

Investment in the squad led to increases in staff costs, as the wage bill rose £18m (15%) from £128m to £146m and player amortisation was up £6m (20%) from £33m to £39m.

In addition, the club booked £3m player impairment, while depreciation was up £1m (13%) to £8m. Other expenses, excluding the Monks Farm costs of sale, shot up £13m (25%) from £52m to £65m.

Despite the reduction, Brighton’s £75m pre-tax profit is the best result in the Premier League to date in 2023/24, just ahead of Manchester City £74m and West Ham £57m.

This is in stark contrast to most of the clubs in the Premier League with half of the division losing more than £50m. For example, Manchester United lost £131m, while Liverpool have just announced a hefty £57m loss.