Review of Sheffield Wednesday's financial results for the 2023/24 season, covering their first season back in the Championship after two years in League One #SWFC
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The good news is that Wednesday's revenue increased £7.0m (36%) from £19.3m to a club record £26.3m following promotion. However, the pre-tax loss widened from £7.2m to £10.0m, due to a corresponding rise in costs. Profit from player sales again really low at just £0.1m #SWFC
Wednesday’s losses in the last three years have been pretty small compared to their recent past and much better than some of the early days of the Chansiri era, e.g. they lost a massive £35m in 2017/18 #SWFC
Wednesday’s wage bill rose £6.0m (38%) from £15.8m to £21.8m following promotion, but has been significantly reduced from the £42m peak in 2017/18 #SWFC
Wednesday only spent £1.6m on new players in 2023/24, which was one of the lowest in the Championship. In fact, their gross spend in the last 6 years is just £6m, in stark contrast to the period after Chansiri’s arrival, when the club splashed out £37m in three years #SWFC
Much more detail in today's blog, including commercial weakness, ticket prices, player trading, debt, owner funding and Wednesday's financial challenges against other teams in the Championship #SWFC
Chansiri's 10 year legacy. A club being run down. Commercial incompetence, no strategic business vision, Little asset investment, Poor leadership skills, zero emotional intelligence. Thanks to DR, coaching staff and players we are 2 points from playoffs. A 2 tier club. #swfc
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https://swissramble.substack.com/p/sheffield-wednesday-finances-202324