AFC Bournemouth
Financial statements for the year ended 30 June 2023 have been released, with the club recording pre-tax profits of £44.5m (2022: loss of £55.5m).
The statements cover a year in which the club was acquired by Bill Foley and in which its men's first team competed in the Premier League for the first time since the 2019/20 season.
During the financial year, the club's focus was on improving its performance in the Premier League, while ensuring that the business was on a stable financial footing.
Alongside a recruitment strategy of targeted expenditure on playing squad assets, the club reaffirmed its commitment to constructing a state-of-the-art training facility at Canford Magna, a project for which £7.2m had been invested at 30 June 2023.
AFC Bournemouth chief executive Neill Blake said: "This was an important financial year for the football club, with Bill taking ownership and investing immediately into the playing squad. The aim of securing our status as a Premier League club for the 2023/24 season proved to be successful.
"We will now continue to invest in our playing and non-playing staff, and the facilities in which they perform, as we seek to find competitive gains wherever possible. The new training facility will allow us to not only attract exciting new talent, but also give them a greater chance of realising their full potential.
"Given our relatively small stadium size, and as a result our comparatively low revenue streams, it is vital that we nurture such a positive mindset throughout the club in order to grow into an established top-flight team."
The accounts reveal turnover was up by £87.8m to £141.0m (2022: £53.2m). This increase is mainly attributable to the increased distributions that flow to the club as a result of its full membership of the Premier League.
The club recorded an operating profit of £52.1m (2022: loss of £48.7m). The club also recognised a gain of £71.4m (2022: £nil) upon the write-off of shareholder loans.
The club's accounts in full can be read here.
