Financial report released: Brighton turned profit into £21 million loss in second Premier League season
5 December 2019
Brighton and Hove Albion have released their financial accounts for the 2018/19 season.
During their second season in the Premier League, Albion have turned a profit into a £21.2 million loss.
While the turnover remained stable, the football costs increased significantly.
Chairman Tony Bloom has set a new vision for the club.
Brighton and Hove Albion have released their financial accounts for the 2018/19 season - compared to a profit of £11.3 million the year before, they have now published an operating loss of £21.2 million.
The figures show that the turnover remained similar to that of the club's first season in the Premier League - £143.4 million against £139.4 million. However, the operating expenses increased quite a bit from £129.7 million to £168 million in the new accounts.
This change can be attributed to three main areas. Firstly, the club's wages increased from £77.6 million to £101.6 million.
"The cost base has increased significantly, following the further strengthening of the playing squad and the increased player and staff wages required to be competitive in the Premier League," write the club in the accounts.
Secondly, player amortisations increased by almost £14 million to £33.2 million following the purchases of Neal Maupay, Adam Webster and Leandro Tossard, among others.
And thirdly, the club's costs relating to the change in management at the end of the season, when the club's manager of four and a half years, Chris Hughton, was let go. Instead, the club brought in Graham Potter and his management team from Swansea, compensating the Welsh team with a figure reportedly around £3 million.
Marking the occasion of the accounts' publication, Chairman Tony Bloom also announced a new vision for the club, which is "to be a top-ten club in the Premier League, and a top-four club in the Women's Super League - [the vision] is designed to set our sights higher than just survival in the top leagues (however important this is)."