League One promotion chasers Barnsley FC post overall loss of £4m in their latest set of financial figures

BARNSLEY recorded an overall loss of £4m in the last financial year, the club's latest set of accounts have revealed.

The financial figures for the year ending May 31, 2023 - covering the 2022-23 season which ended in the Reds reaching the League One play-off final against Sheffield Wednesday at Wembley - showed that the club made an operating loss of £5.9m.

Player sales reduced this figure by £1.9m to £4m, with the period covered seeing the club sell several players following relegation from the Championship in 2021-22, including Cauley Woodrow, Carlton Morris, Callum Brittain and Michal Helik.

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The club's turnover reduced by £5.4m to £9.5m from the previous year's figure of £15m.

Oakwell, home of League One outfit Barnsley FC.Oakwell, home of League One outfit Barnsley FC.
Oakwell, home of League One outfit Barnsley FC.

This was primarily due to a significant reduction in EFL distributions and Premier League solidarity income derived from broadcasting rights, the report stated.

Figures showed that despite relegation from the second tier in 2021-22, matchday income increased by £480,000 - which was due to better attendances and additional revenue generated from reaching the play-off final.

The report also confirmed that the club's shareholders injected equity of £6m to ensure that the club was able to meet its ongoing financial commitments during the last financial year.

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Barnsley are still owed over £2m on instalments from player sales by other clubs, the figures also revealed.

The future outlook section of the report stated that, in the post year end period, the club had received further equity injections of £3.6m.

Revenue streams being affected by Barnsley remaining in League One was cited among the principal risks and uncertainties facing the club going forward alongside cash management within the constraints of available capital and a lack of influence over principal revenue streams relating to central broadcasting contracts.

Meanwhile, Barnsley received a boost in their bid for automatic promotion on Tuesday following defeats for rivals Derby and Bolton.