Express & Star

West Brom accounts reveal £7m losses

Albion made a loss of £7million during the 2018-19 season as revenues plummeted following relegation from the Premier League.

Published
Last updated
The Hawthorns

Figures released on Wednesday revealed how the club’s turnover fell by £54million, down from £124.8m to £70.8m during their first campaign back in the Championship.

The biggest factor was a drastic drop in broadcasting income, which nearly halved from just under £102m to £52.8m, with a large portion of the latter figure including the Baggies first receipt of parachute payments after relegation.

Those losses were largely offset by contract clauses which saw the club slash its wage bill almost in half, from £92.2m in the top flight down to £46.8m in the second tier.

Total pre-tax operating losses of £17m were, meanwhile, eased by a £10m profit on player sales over the course of the year, the bulk of which came from the sales of Jonny Evans, Nacer Chadli, Ben Foster and James McClean.

Otherwise, the Baggies were able to keep hold of the majority of the squad from the previous season, though it was not enough to earn an immediate return back to the Premier League as they finished fourth in the table before being beaten by rivals Villa in the play-off semi-finals.

In the strategic report attached to the accounts, chairman Li Piyue confirmed the controversial decision to sack Darren Moore in March last year due to fears of missing out on a play-off place altogether.

Albion appointed Slaven Bilic as head coach last summer and sat second in the Championship, on course for promotion, before the current season was suspended due to the coronavirus.

The strategic report explains how Bilic’s appointment was part of a restructure which saw the Baggies “radically reduce” the average age of their playing squad.

Craig Dawson, Jay Rodriguez and Salomon Rondon were among the senior players sold, while the likes of Semi Ajayi and Darnell Furlong were recruited.

Figures included in the accounts reveal Albion made a profit of nearly £18m in playing trading during last summer’s transfer window.