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 The club record £3.4 million loss for 2022/23

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Angry

Angry


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Join date : 2021-12-06

The club record £3.4 million loss for 2022/23 Empty
PostSubject: The club record £3.4 million loss for 2022/23   The club record £3.4 million loss for 2022/23 EmptyMon Nov 20, 2023 6:02 pm

The Link

From the link wrote:
Total income in the year was over £15m, the highest the club have ever achieved and 28 per cent greater than the previous campaign

Plymouth Argyle made a £3.4 million loss during their 2022/23 League One title-winning season, largely as a result of non-recurring costs triggered by their promotion to the Championship.

They included contingent payments on player loan transfers, performance bonuses to first team players and management, along with a legacy payment to a bank in accordance with an agreement entered into when the club exited administration in 2011.

Other cost pressures resulted from the high level of inflation across the wider UK economy and scaling up to accommodate the return of major concerts at Home Park in the summer. There was also the launch of Evergreen, the subscription fans fund, and the acquisition of Harper's Football Centre, formerly Goals, off Outland Road.

Argyle head of finance David Ray said: "These all form part of our long-term strategy of diversification and optimising the use of our facilities."
Total income in the year was over £15m, the highest the club have ever achieved and 28 per cent greater than in the 2021/22 season, when Argyle narrowly missed out on a League One play-off place despite securing 80 points.

That allowed the club to increase the amount of money invested in player wages, although their budget was around a third to a half of many of the top teams in League One.

Ray reported that Argyle's cash balance fell by £1.5m to £5.3m as of June 30, 2023 but they remained "in a very healthy financial position." Net assets increased to £15.8m and the club continues to be debt free.

Argyle submitted their annual report and financial statements to Companies House today.
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Greenskin

Greenskin


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The club record £3.4 million loss for 2022/23 Empty
PostSubject: Re: The club record £3.4 million loss for 2022/23   The club record £3.4 million loss for 2022/23 EmptyMon Nov 20, 2023 7:28 pm

Fair old chunk of it a payment to a bank as part of the exit from administration in 2011 or whenever it was. Quite a little skeleton lurking in the cupboard, presumably that would be that as far as fallout from that era is concerned.
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Grovehill




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The club record £3.4 million loss for 2022/23 Empty
PostSubject: Re: The club record £3.4 million loss for 2022/23   The club record £3.4 million loss for 2022/23 EmptyTue Nov 21, 2023 2:03 pm

Having had full houses for most of last season, it's not easy to see how the Club can generate more income. I suspect that a lot of the money the Club get from the League for being in the second tier is eaten up by higher wages etc.

To me, it looks like we will have to be a selling club, signing players like Whittaker and Hardy to flog on when a big offer comes in.

As I've said before, I can't see us making money on developing local (Westcountry) players as ECFC have cornered that market already
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Graiser

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The club record £3.4 million loss for 2022/23 Empty
PostSubject: Re: The club record £3.4 million loss for 2022/23   The club record £3.4 million loss for 2022/23 EmptyTue Nov 21, 2023 6:48 pm

Grovehill wrote:
Having had full houses for most of last season, it's not easy to see how the Club can generate more income. I suspect that a lot of the money the Club get from the League for being in the second tier is eaten up by higher wages etc.

To me, it looks like we will have to be a selling club, signing players like Whittaker and Hardy to flog on when a big offer comes in.

As I've said before, I can't see us making money on developing local (Westcountry) players as ECFC have cornered that market already

I think Exeter’s halo is slipping in that department, the club has already said signing players like Mumba and Whittaker are investments for potential sell ons.
Need to stay in the Championship for next season
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The club record £3.4 million loss for 2022/23 Empty
PostSubject: Re: The club record £3.4 million loss for 2022/23   The club record £3.4 million loss for 2022/23 Empty

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