Walsall 2023/24 financial accounts analysed as club make £1.783 million loss

Co-chairman Ben Boycott issued a video statement following the release of the latest club accounts, outlining the reasons behind the significant loss. 

Here, we unpick the key talking points, analysing what it will mean for Walsall both in the short-term and long-term future. 

What are the headline figures? 

The most eye-catching figure is of course the reported loss of £1.783 million, compared to a profit of £11,000 in the previous year. 

Revenue has also dropped from £7.615 million to £6.7 million - a decrease of 12 per cent. 

Why is Ben Boycott positive about the future despite the loss? 

Boycott issued an address to the supporters once the accounts had been released and spoke in optimistic tone about the scope for "future growth" at Walsall. 

While the numbers might look large in nature, Trivela have invested in a variety of areas which are likely to benefit Walsall in the long-term future. 

They bought the freehold to the Bescot Stadium in December 2022, allowing the club to own their home again for the first time in 32 years. 

The American investment firm also oversaw the refurbishment of the Saddlers Club, into the The Locker, which was reopened at the start of 2024. 

Both have provided stability first and foremost, especially the acquisition of the Bescot. The Locker, while increasing supporter satisfaction by providing a hub for the fan base to congregate, also has potential to generate revenue on non-match days, which is something the club have been actively marketing.

What does that mean for the short-term? 

Clearly Trivela have been invested significantly in the first full year of their reign. 

In the short-term, that investment coupled, with the strategic plans implemented by Boycott and co have had positive results on the pitch so far. 

Walsall enjoyed a season of progression in Mat Sadler's debut campaign in 2023-24, finishing five points adrift of the play-offs, after back-to-back 16th-place finishes. 

They have built on those solid foundations by powering themselves to the top of League Two in the current campaign. 

Trivela have also backed Sadler on the transfer market. Firstly, in his summer rebuild following his appointment in 2023 and also across his 20 months at the helm so far.

Boycott claimed himself that Walsall have been operating on a much larger transfer budget than previous years and the evidence on the pitch suggests recruitment has been majorly improved.

Getting the job done will be the key for Walsall now, with Trivela eager to see those investments reap their reward on the pitch. 

What does that mean for the long-term? 

Well, it feels as if Trivela have taken a hit with the view for long-term success. 

They have ultimately secured assets, as mentioned with the Bescot and The Locker, which will provide them with healthy revenue going forward. 

Boycott also alluded to the fact that Walsall have expanded from an operational standpoint, with new roles introduced across the club to increase infrastructure.

Another concern which Boycott raised was the reduction in television money and cup prize funds. Walsall pocketed £245,000 from cup competitions in 2022-23, as opposed to just £133,000 last term. 

Those figures have minorly increased in the current campaign courtesy of the Saddlers' run to the League Cup third round and the EFL Trophy round of 16.

Walsall amassed £65,000 in the EFL Trophy and £12,000 in the League Cup (according to last season's prize money with figures yet to be released for this term). 

They also pocketed an extra £65,000 after reaching the second round of the FA Cup, taking their grand total in prize money to £142,000.