Brentford FC lost £350,000 a week from day to day trading in 2017/18 but player sale profits helped reduce losses from £18.5 million to £4.4 million. Total losses over the years are £55m.
Turnover was marginally up at £12.7m. A decrease in matchday income (£3.5m to £3.1m) for the Bees was offset by increase in TV and commercial income. Total income of £12.7m was less than a third of parachute payments received by some other Championship clubs, showing once again how the Championship has the least level playing field of all the divisions.
League and FA payments accounted for 53 per cent of income. Ticketing accounted for just under a quarter of income. Commercial was up from £850k to £1.2m.
The club paid out £135 in wages for every £100 of income in 2017/18. This is well above the level recommended by Uefa, but is far from unusual in the Championship. Employee numbers down but wage cost was up 17%.
The Chairman comments in his statement, 'Perhaps the most remarkable achievement is continuing to challenge in the top half of the table, while operating comfortably within FFP regulations, largely achieved by securing profits from player trading of over £40m in the last three financial years.'
Matthew Benham lent the Bees £12.3 million interest free in 2017/18 to keep club afloat. Total Benham loans £76 million plus shares of £38 million. Progress on the new stadium allowed £19m of Benham loans to be repaid in August 2018.
The move to the new stadium at the start of the 2020/21 season will see the start of a new phase in the club's history.
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