Wolves have released headline financial information for the year ending 31st May 2024, confirming a net loss of £14.3m.
The accounts reflect the 2023/24 season, which marked Wolves’ eighth under the ownership of Fosun and the sixth consecutive campaign in the Premier League.
Revenue for the year reached £177.7m (£168.6m in 2023), driven by an increase in underlying Premier League broadcasting rights. While a lower final league position resulted in a slightly reduced merit payment, this was offset by an increase in live UK television broadcasts (16 matches, up from 12 in 2022/23) and additional home games, including two pre-season friendlies at Molineux. Further matchday revenue was generated through a strong FA Cup run, with Wolves reaching the quarter-finals.
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 a profit of £64.6m (£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, 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 - a significant improvement from the £38.6m loss in 2022/23 - and 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. 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.
Overall, the financial loss for the year, after interest and tax, was £14.3m - a significant reduction from the £67.2m loss in 2022/23.
The full accounts can be accessed by clicking here.
