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Government loan helps keep Walsall in profit

Walsall have announced a profit of £13,000 in their latest financial accounts – with a £500,000 government loan helping them get through the pandemic.

Bank's Stadium
Bank's Stadium

The Saddlers have released their figures for the year up to May 31, 2021, which was heavily impacted by Covid-19.

Due to fans not being able to attend fixtures for all the 2020/21 season, turnover fell by £1.38million to £4.2m.

But with help from the government in the form of a £500,000 loan and £618,000 through the furlough scheme, Walsall posted a profit of £13,000 – after a profit of £25,000 in 2020.

The Saddlers were also helped by support from sponsors while a whopping 90 per cent of season ticket holders kept their money in the club despite not being able to attend any games last campaign.

The accounts also reveal Walsall paid out £502,000 to former owner Jeff Bonser as part of their ongoing Banks's Stadium lease – up from £479,000 the previous year.

Walsall chairman Leigh Pomlett said: "On behalf of everyone at Walsall Football Club I would like to say a huge thank you to all supporters who continued to back the club at a time when many have faced their own personal struggles throughout this horrific pandemic.

"It has been another tough season, both on and off the pitch, but I would like to assure you all we continue to work extremely hard to give you a team and club to be proud of."

Other key notes from the accounts are that match receipts were down from £915,000 to £374,000 – that figure coming from those season ticket holders who kept their money in the club.

Football and commercial revenue was down from £4.68m to £3.83m.

Walsall's net debt increased from £1.9m to £2.36m.

Wages and salaries were down from £3.1m to £2.8m, while the total number of staff at the club was down from 137 to 120.

Directors' pay increased from £187,000 to £199,000. The highest-paid director's salary went up by £1,000, to £114,000.

No dividend was paid to shareholders for the second year running.

The accounts will be discussed at the club's annual general meeting on Monday, February 21.

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