Ultimate magazine theme for WordPress.

Brighton announces record win after best Premier League season

  • By Jonathan Jurejko
  • ` Sport

April 2, 2024, 5:05 p.m. BST

Updated 34 minutes ago

image source, Getty Images

image description,

Brighton owner Tony Bloom took over the club in 2009 when it was still playing in League One

Brighton have announced record profits of £122.8 million for the 2022/23 financial year – the most successful season in the Premier League club's history.

Profit after tax rose by almost £100m annually from £24.1m, while sales rose 17.2% to a record £204.5m.

Albion finished sixth in the Premier League in 2022/23, reached the FA Cup semi-finals and also brought in huge transfer fees for several key players.

The numbers could contribute to further “significant progress” on the pitch, Brighton said.

“These accounts will obviously catch your eye because of the headline number,” Brighton chief executive Paul Barber said.

“In a season in which we made history on the pitch, we have taken a big step forward towards the club’s long-standing goal of becoming more sustainable and independent.” [Brighton owner] Tony Bloom’s incredibly generous investments.”

Brighton made a “significant repayment” to Bloom for the first time, Barber added.

It means the club has reduced the balance of Bloom's interest-free loans, the first of which was granted in 2007, from £406.5m to £373.3m.

Everton and Forest have already been hit with points for breaching winning and sustainability rules, while Leicester are facing similar allegations.

How did Brighton make the money?

A significant portion of Brighton's revenue in 2022-23 was generated by their performances on the pitch and the ability to make a profit by selling players who arrived for much lower fees.

Brighton coach Roberto de Zerbi led the club to their highest league result in their 122-year history and to the FA Cup semi-finals for only the third time.

As a result, the club's revenue from prize money and broadcasting revenue increased from £126.2m to £155.2m.

The sale of four key players – Malian midfielder Yves Bissouma, Spanish left-back Marc Cucurella, Belgian striker Leandro Trossard and Argentine midfielder Alexis Mac Allister – resulted in a transfer profit of £121.4 million.

The record figures were also helped by the £23 million severance payment received by De Zerbi's predecessor Graham Potter, who moved to Chelsea with several of his backroom staff.

The end date for the 2022-23 financial statements is June 30 last year.

Therefore, the sales of Ecuadorian midfielder Moises Caicedo and Spanish goalkeeper Robert Sanchez, both of whom joined Chelsea in August 2023, are not included.

Caicedo was sold for £100m, which could rise to a UK record £115m. Sanchez made the same move for £25m.

Brighton fans of a certain age still have to pinch themselves when they think about how far the club has come in the last 30 years.

From struggles in the depths of the Football League to dissolution in 1997, the Seagulls' stunning rise has been remarkable.

Former chairman Dick Knight saved the club when his consortium acquired a majority stake before stepping down in 2009 to take over the reins from sports betting entrepreneur Bloom.

Bloom financed the construction of the Amex Stadium – an integral part of Brighton's renaissance – and also provided a state-of-the-art training ground.

Bloom's interest-free loans enabled investments off the field and led to success on the field.

Brighton reached the Premier League for the first time in 2017, establishing itself as one of the most attractive and progressive teams in the English top flight.

“As always, we are very grateful to Tony Bloom for his clear vision, his first-class stewardship of our club and his ongoing financial support,” Barber added.

“At the same time, we are very fortunate to have a top-class board who provide us with great stability and leadership, as well as first-class staff across all areas of the club.”

What does the future hold?

Former Shakhtar Donetsk coach De Zerbi, 44, built on Potter's work and led the Seagulls into European football for the first time this season.

However, the Italian's future remains unclear.

Despite being contracted until 2026, De Zerbi has been linked with Liverpool and Bayern Munich and appears to have questioned Bloom's ambitions of late.

“Bloom has invested half a billion pounds of his own money to turn Brighton from a second division entry into a Europa League contender,” said Seagulls supporter Scott McCarthy of the fans site We Are Brighton.

“Ask him questions, compete against him and in the eyes of most Albion fans there will only be one winner in this popularity contest.”

Comments are closed.

%d bloggers like this: