Nine important take-homes from latest set of financial accounts posted by Blackpool

Blackpool have released their latest set of accounts for the year ending June 30, 2023 - and there’s a number of take-homes that will be of interest to the Bloomfield Road faithful.

The financial period in question relates to the Seasiders’ most recent season spent in the Championship. It’s a 2022-23 campaign that saw Blackpool relegated back to League One and one that saw the club turn to three different managers - Michael Appleton, Mick McCarthy and Stephen Dobbie (interim boss) - in their unsuccessful attempt to retain their second-tier status.

According to figures sent to Companies House on March 27, 2024, Blackpool posted a turnover of £17,260,938 during the 12-month period, which is an increase of 13 percent on the 2022 total (£15,290,369). That’s been attributed to an increase in match-day income, football earnings and commercial activity.

An operating loss of £3,186,376 was also registered. But with £2,926,636 generated through 'the disposal of manager and player registrations' that allowed the Seasiders to report a £113,522 loss after tax for the period in question.

That contrasts greatly to the £852,211 post-tax profit made during the previous financial year and demonstrates the importance of the £2.3m received for the transfer of Josh Bowler to Nottingham Forest on September 1, 2022.

The likes of Richard Keogh’s departure - one of many exits during that particular transfer window - plus money made on Callum Wright’s move to Plymouth in January 2023 - can’t be underestimated, either. Indeed, with the entire club wage bill taking up 78 percent of turnover (£13,528,599) - up two percent on the previous year - any gains on that front is welcomed.

A sum of £948,233 in the bank on June 30, 2023, shows Blackpool were financially capable to deal with any additional expenses that came their way. This represents slightly less than one month’s salary obligation.

Yet a net liabilities total of £7,655,053 highlights that the club owes more to creditors than what their total assets are worth. Blackpool’s assets (including tangible and intangible) total £12,037,500. But that’s well short of the £19,637,442 the Seasiders owe and would cause an issue if there was a requirement to repay a large amount of this sum straight away. However, it’s worth noting that money is largely owed to companies associated with the club’s directors.

With Blackpool currently operating in League One for the 2023-24 season and a return to the Championship this term looking increasingly unlikely, the club has stated how it aims to continue progressing and developing as a company. This includes enhancing their scouting network to identify and secure talented players within a sustainable financial framework; enhancing the development of young players through exposure to first-team footballer opportunities; and furthering the club’s integration into the community.