Partner Article

Brighton & Hove Albion losses surpass £10m

Brighton & Hove Albion have have announced a financial loss of £10.44m in their accounts for the 2014/15 financial year.

The Sussex club, which finished 20th in the Championship, saw turnover fall by £300,000 to £23.7m for the year ended 30 June 2015. The continued cuts in administrative and operational costs, increasing the overall efficiency of the club, helped Albion increase its investment in footballing costs by just under £3m. Club chairman, Tony Bloom, said losses were ‘inevitable’ for any Championship club wishing to compete for promotion:

“In last year’s accounts, published at a time when the team was struggling in the lower reaches of the Championship, I felt it was important that my chairman’s statement went some way to reassure our many stakeholders of the club’s ambitions. We focused on the many positives, and the progress we had made in the previous years, while also attempting to address our lowly league position.

“That was something none of the board, staff or players at the club expected given our level of investment or were satisfied with and I am pleased to be writing this year’s statement having seen a tremendous improvement and progress in the past 12 months.

“With that in mind, this year’s statement will be somewhat briefer than last year’s – but nonetheless will cover those issues important to our directors, shareholders and all stakeholders – including our supporters. “

This was posted in Bdaily's Members' News section by Ellen Forster .