Brighton and Hove Albion in good health despite £21m loss for 2018/19
Brighton & Hove Albion have filed their accounts for the 2018/19 season, the club’s second season in the Premier League.
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.
The accounts also show that the club complied with Premier League's Financial Fair Play regulations for the period.
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."
Bloom also has plans for continued improvement, "The club has also made a significant investment off the pitch," said the chairman. "With work beginning on a £25 million training ground improvement, which includes a separate women and girls’ hub at the American Express Elite Football Performance Centre.
"Our new vision - to be a top-ten club in the Premier League, and a top-four club in the Women’s Super League - is designed to set our sights higher than just survival in the top leagues."