Brighton and Hove Albion club’s financial position is out and the figures show turnover remained fairly similar to the club’s first season in the Premier League, at £143.4m, against £139.4m – but there was a swing from £11.3m profit in 2017/18 to a £21.2m loss in 2018/19.
The change is attributed to three main areas.
- First: an increase in player wages.
- Second: player transfer fees.
- Third: the additional costs of the change in the management team at the end of the season.
Albion chairman Tony Bloom said, “Our continued Premier League status is really important in helping us establish a longer term stronger financial footing. It also boosts our national and international profile. The club’s contribution annually to the local economy is now £212 million, with £54 million going into the exchequer.We are responsible, directly or indirectly, for 2,200 jobs, with more than 90 per cent of those people living locally in the Sussex area. Spending in the local area by home and away fans added more than £8.5 million annually to the local visitor economy. These are truly excellent figures for our city. A busy close season also saw us reach a new long-term agreement with American Express. Our new deal takes their commitment to an entirely new financial level.”
Tony Bloom has been ambitious this season as he laid out new vision for the club – to be a top-ten club in the Premier League, and a top-four club in the Women’s Super League which is higher than just survival in the top leagues. He fired Chris Houghton at the end of 2018/2019 season despite premier league finish not comfortably though. Potter inherited from Hughton a strong defensive base but an ambition to deliver a more attacking style with a squad where recruitment errors were made last summer in the forward areas.