Swansea City publish latest financial statements

Swansea City FC has published its financial statements for the eleven month period ended 30 June 2024. The financial statements report a pre-tax loss of £15.2m compared to a pre-tax loss of £17.9m for the previous financial year. The company took the decision to change the year end date to 30 June to align with the Financial Reporting period currently set by the English Football League (EFL).

Turnover for the eleven month period was £21.5m. Player trading produced a profit of £10.5m, and includes the initial profit on the sale of Joel Piroe to Leeds United. These profits helped to ensure that the Club remained compliant with the EFL Profitability and Sustainability regulations for the season.

The Board wishes to place on record its thanks to its supporters, sponsors and other stakeholders for their continued invaluable support during the season. 

The club invested significantly in its playing squad in the financial year under review; acquisition costs of player registrations in the financial period amounted to £6.0m.  The associated costs contributed to an increase in operational expenses to £47.0m for the eleven month period compared to £43.0m for the previous year. 

The Board acknowledges that whilst the magnitude of the operational loss is a product of the highly competitive environment within the EFL Championship in which the Club currently competes; the Club will continue to focus on achieving operational efficiencies in order to maximise the resources which can be invested into the first team squad. The costs of operating a Stadium and two training facilities are significant and are growing. In the absence of any immediate prospect of an redistribution agreement between the EFL and the Premier League then the club will continue to be reliant on the support of its Ownership Group as the main source of funding.

During the period, further shares of £16.5m were issued compared with £41.2m in the prior period. Subsequently to this period end, a further £21.0m of shares have been issued. 

The Board wishes to place on record its thanks to the Ownership Group for their continued support of our Club.