Wigan Athletic needs to grow revenues after posting record financial loss

Wigan Athletic Football Club has suffered its worst financial loss in its history.

The League One side was rescued from possible collapse by Wigan-born billionaire businessman, Mike Danson, last June when a company backed by the Datamonitor founder agreed to buy the club for an undisclosed sum after the deal to acquire 100% from previous owner Abdulrahman Al Jasmi was cleared by the English Football League (EFL).

Turnover was £15.9m, although staff costs, such as player wages, were £23.2m. The club made a net loss before tax of £13.4m. There was an underlying loss, before write off of owner loans, of £17.5m.

Costs of £2m were incurred in termination costs for two player management teams and executives, much of this payable in the following financial year and being paid by the new ownership group.

The figures cover the 2022/23 season when the team was competing in the EFL Championship which ended in relegation to League One.

Club chairman and Interim chief executive, Ben Goodburn, said: “Our staff, players, loyal supporters and wider stakeholders have endured a turbulent few years and I firstly want to thank everyone for their resilience during such a difficult time.

“The 2022/23 season was disappointing on and off the pitch, with relegation from the Championship, a number of points deductions, non-payment of staff and player wages under a previous ownership and the underlying loss of £17.5m is the largest published loss in the history of the football club.

“During this period, HMRC also issued a winding up order, and the football club sought significant financial help.”

He added: “Mike Danson purchased the club in June 2023 and cleared all amounts owed for wages and to HMRC.”

He said: “We are ambitious for Wigan Athletic, but first, we must be realistic about the challenges we face as we continue to work to bring stability to the football club. Lessons must be learnt from the past if we want to be sustainable for the future.”

Looking ahead, Mr Goodburn said significant owner funding will still be required in the short term to help ensure the debt inherited is manageable.

He aid player wages have been “clearly unsustainable and caused significant financial distress – some of which, we are still trying to manage.”

And he admitted the club needs to grow both matchday and non-matchday revenues.