Jeff Shi of Fosun International Limited and Wolverhampton Wanderers
Wolverhampton Wanderers have reported a notable financial turnaround, with reduced losses and £177.7 million in revenue.
According to Insider Media, Wolverhampton Wanderers announced reduced losses and higher earnings for the fiscal year that was the team’s sixth consecutive Premier League season.
Wolves confirmed a net loss of £14.3 million for the fiscal year ending May 31, 2024, which is less than the £67.2 million deficit for 2022–2023.
Revenues were “driven by an increase in underlying Premier League broadcasting rights” and increased to £177.7 million from £168.6 million in 2023.
The club claimed that an increase in live UK television broadcasts (16 games, up from 12 in 2022–23) and more home games, including two preseason friendly at Molineux, more than made up for the somewhat lower merit bonus that came with a lower final league place. With Wolves making it to the FA Cup quarterfinals, a strong FA Cup run produced additional matchday revenue.
All matches in the year were played in front of near-capacity crowds, with an average attendance of 31,265 (31,346 in 2022/23).
Player trading in the year generated profits of £64.6m, up from £43.9m in 2023, from the sale of player registrations, including Ruben Neves, Conor Coady, Nathan Collins, Raul Jimenez, Matheus Nunes and a number of others. Additionally, contingent fees were crystallised for players including Diogo Jota, Morgan Gibbs-White, Willy Boly and Patrick Cutrone.
However, Wolves said this was balanced by amortisation and impairment charges on player registrations, which totalled £67.2m (£82.4m in 2023) due to investments in the first-team and academy. New signings included Jean-Ricner Bellegarde, Santiago Bueno, Boubacar Traore, Tawanda Chirewa, Enso Gonzalez and Matt Doherty, while there were various new contracts, and crystallising contingencies for Jose Sa and Mario Lemina, among others.
As a result, the club recorded a net player trading loss of £2.6m – compared with a £38.6m loss in 2022/23. Wolves noted “this was the direct result of proactive management to ensure compliance with the Premier League’s Profit and Sustainability Rules”.
Operating costs decreased slightly, “reflecting efforts to manage the club’s financial sustainability, including reductions in player payroll and the outsourcing of the retail operation”.
The club added that these savings were partially offset by the departure of head coach Julen Lopetegui and his staff in August 2023, with Gary O’Neil taking charge in the same month.
