Barnsley FC reports £1.4m loss in relegation year
Barnsley FC saw turnover increase to £14m, despite reporting an overall loss in what has been described as an “ultimately disappointing” season.
The South Yorkshire club was relegated following the 2017/18 season after finishing in 22nd place.
Barnsley’s recently filed financial accounts show that turnover rose to £14m in the year ending 31 May 2018, which is a £1.5m increase on the £12.5m achieved for the 2016/17 season.
However, Barnsley FC also reported a £1.4m loss in operating profits compared to a £400,000 profit the year before. The club said that this loss was due to increased playing squad salaries following “a significant amount of activity” in the summer 2017 transfer window.
This loss occurred in a year which saw the club get taken over by a consortium headed by Chinese businessman Chien Lee of NewCity Capital and Pacific Media Group, which is led by Paul Conway and Grace Hung.
Billy Beane, the former Oakland A’s general manager who became world famous through the book and film Moneyball, is also an investor.
Barnsley FC is currently fighting for promotion to the Championship once again. After playing 35 games, the club is sitting in 2nd place of League One.