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Coventry lose around £100k a week

Coventry City publish 2021/22 accounts, reports Kieran Maguire.  Revenue was up £6m due to return from lockdown.  Losses up slightly due to higher wages and overheads.  Wages £87 for every £100 of income, good by Championship standards.    Total income was highest for a long time.

Impact of return from lockdown and Championship level crowds very clear as matchday income was much higher.  Broadcast income over five times higher in Championship than in League One so makes significant impact for Coventry.   Commercial income almost doubled as higher sponsor deals from being in Championship plus greater perimeter and merchandise sales.

Rent bill increased by £1m. Net interest costs same as for most seasons, about £40-50k a week.  As a result of these costs for the third season in a row Coventry have lost about £100k a week.

Total losses for Coventry now exceed £100m.  Borrowings have increased steadily over time under old owners.

Coventry squad at end of 21/22 cost just £7.4m, highest since 2009.   Coventry spent £3m on signings in 21/22 and had sales of £1/2m.   Player sale profits in 21/22 modest and so unable to reduce the losses significantly.

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