Wolves have released headline financial information for the year ending 31st May 2023, confirming a net loss of £67.2m.
The accounts reflect the 2022/23 season, which was the seventh under the ownership of Fosun and the fifth consecutive season in the Premier League.
In terms of results on the pitch, the men’s first-team experienced a more challenging campaign compared with previous years and, after a mid-season change in management, finished with a total of 41 points in 13th position.
Revenue for the year reached £168.6m (£165.5m in 2022). This can be attributed to an increase in Premier League broadcasting rights offsetting the impact of lower metrics of both merit payment in 2022/23 (13th placed finish rather than 10th) and live TV facility fee broadcasting revenue streams (Wolves matches were broadcast 12 times on UK television compared to 16 times in 2021/22).
Furthermore, the season also saw a higher number of home games due to the club’s Carabao Cup campaign, which saw the team play three matches at Molineux, increasing matchday driven revenue streams such as ticketing and matchday hospitality, before exiting in the quarter-finals.
All matches in the year were played in front of close to capacity crowds, with an average attendance of 31,346 (30,725 in 2021/22).
Player trading in the year generated profit of £43.9m (£50.1m loss in 2022) through disposal of players’ registrations, driven by the sales of Morgan Gibbs-White, Willy Boly, Leander Dendoncker, Ruben Vinagre, Connor Ronan, Leo Campana, Sangbin Jeong and crystalising contingent fees for Diogo Jota, Rafa Mir and Rui Patricio.
However, this was outweighed by higher amortisation and impairment charges on player registrations, totalling £82.4m, driven by further investments in the first team and Academy, including the acquisitions of Nathan Collins, Hwang Hee-Chan, Matheus Nunes, Goncalo Guedes, Sasa Kalajdzic, Diego Costa, Matheus Cunha, Mario Lemina, Craig Dawson, Pablo Sarabia, Dan Bentley and Joao Gomes. This results in a net player trading loss of £38.6m.
Operating costs also increased in this period, in part due to the departure of head coach Bruno Lage and his support staff in October 2022, and the appointment of Julen Lopetegui in November 2022, and also due to increases in player payroll as part of investment in the first team.
Overall, the financial loss for the year, after interest and tax, was £67.2m (loss of £46.1m in 2022).
The full accounts can be accessed by clicking here.
