Cardiff City Finances 2021/22

Don’t Sit Down ‘Cause I’ve Moved Your Chair

Cardiff City’s 2021/22 financial results covered a season when they finished 18th in the Championship, their lowest league position for 19 years. The club described the result as “disappointing”, though said that ultimately “we achieved our immediate aim and secured our Championship status.”

However, it has been a period of upheaval with numerous managerial changes. Mick McCarthy was replaced by Steve Morison in November 2021, but he was succeeded by Mark Hudson a year later, though he only lasted a couple of months before exiting stage left, allowing Sabri Lamouchi to move into the hot seat.

Profit/(Loss) 2021/22

It was not a great season off the pitch either, as Cardiff’s pre-tax loss more than doubled from £11.2m to £26.6m. Revenue fell by nearly two-thirds (£35m) from £55m to £20m, due to the cessation of parachute payments from the Premier League.

This was only partially compensated by cutting operating expenses by £18m (27%) and profit from player sales slightly increasing by £1.4m to £4.2m. In addition, a £0.5m related party loan was written-off, though net interest payable rose £0.5m to £2.4m.

The ending of parachute payments meant that broadcasting revenue dropped £38.0m (79%) from £48.4m to £10.0m, while commercial income also fell £0.7m (12%) to £4.9m. The return of fans to the stadium led to an increase in match day, which rose £3.5m from £1.2m to £4.7m.