Brighton chief looking at positives despite recording £53.4m losses
Brighton have released their financial results for the 2020-21 season and have recorded losses of £53.4m.
It’s worth noting the figures do not include the transfer of Ben White to Arsenal, which was worth a reported £50m but concluded after the end date for these accounts. That income would all but wipe out their deficit, but it’s understood the £50m was not all in one initial payment.
The Premier League club played all but three of their competitive home games behind closed doors during the campaign due to the coronavirus pandemic.
Albion’s accounts show a £13.8m reduction in losses from the £67.2m deficit of the previous season.
Turnover increased from £132.9m to £151.6m when compared to 2019-20, a rise of 13.4 per cent.
Brighton chief executive Paul Barber said “roughly half” of the losses could be directly attributed to the global pandemic.
“While we are once again reporting a loss, which is never ideal, we have seen an increase in turnover and reduction in the losses, despite the pandemic impacting the entire season,” he told the club website.
“The figures are testament to the careful, diligent and professional approach of so many across the club, who adapted to the global situation, and to the stability that (chairman) Tony Bloom’s financial investment gives the club.
“Our matchday, commercial and event turnover was all but wiped out for the entire season. And we incurred various additional costs for providing a Covid-secure environment for players, officials, staff and fans.
Bissouma sale could ease Brighton worries
“Inevitably, these factors combined to have a significant bearing on our results. And roughly half of our total loss can be attributed directly to the coronavirus pandemic.
“Thankfully, we have now emerged from that uncertain period, and we hope we can move forward with more certainty.”
White was offloaded last summer to help balance the books and Brighton may look to do similar this summer. Yves Bissouma, who the Seagulls value at £50m, is interesting a number of Premier League teams.
Bissouma’s contract expires in 2023. That means the club could cash in on him this summer rather than lose him for free in 2023.
Brighton, who were promoted in 2017, finished 16th in the top flight last season. They were 13 points clear of the relegation zone.
Graham Potter’s Seagulls are currently 13th this term. But they have seen six successive league defeats ahead of hosting bottom club Norwich on Saturday.
The post Brighton chief looking at positives despite recording £53.4m losses appeared first on TEAMtalk.