Club Accounts 2021/22
The Swans Trust notes the filing of company accounts for Swansea City today with Companies House, which show a pre-tax loss of just under £13m for the year up to July 2022.
We understand that many fans & members will be concerned at the size of the loss, which reflects the financial realities of operating a club such as ours at this level. That said, we are pleased at the level of detail and explanation provided in the club statement, which is available in full HERE. The detail and explanation are an important aspect of building trust and understanding between the club and the Jack Army.
It is fair to say that football finances, particularly noting the current economic climate, are a huge challenge for owners and clubs, and a key concern for supporters across the football pyramid. The accounts reflect just how expensive it is to run a football club, with operating costs for the year coming in at £43m. We know that much work has gone on to reduce the costs of the club, and there is continued work needed to improve our financial sustainability as a club. This will need to be done through a combination of increasing revenue and continuing to sustainably reduce the cost base.
We should also note that whilst the club has shown a loss, the club remains financially secure with investment from the majority owners ensuring that the books are balanced and the debt on the books is minimised to only that can be managed effectively. As per our previous releases, this investment has resulted in the issuance of new shares to the majority ownership group.
Today’s announcement and this statement is one part of our planned engagement and analysis, and the Trust is delighted to announce that we will be releasing an interview in the coming days with Football Finance Expert Kieran Maguire. In the interview, he will provide further commentary and analysis on the accounts and aim to provide digestible insight to our supporters.
Potential New Investors
The Trust is fully aware of the news stories that have circulated in the past 24 hours about potential new investors coming into the club.
We will shortly be issuing a more detailed statement on that to members and supporters.
Finally, we always encourage members to reach out to us with any questions. Please send us an email on communications@swanstrust.co.uk
Swansea City Supporters’ Trust
28th April 2023
