Key highlights from Brentford’s financial report, year end 30 June 2023:
Football and operational
Second season in Premier League
Achieved a ninth-place finish in the Premier League, an improvement of four places from the previous campaign and Brentford's highest post-war league finish
In March 2023, Ivan Toney became the first Brentford player to earn a cap for England in 84 years when he appeared against Ukraine at Wembley
Brentford B clinched the Premier League Cup following a 2-1 win over Blackburn Rovers Under-21s in the final of the competition at Gtech Community Stadium
The club’s transfer record was broken three times across the 2022/23 season
Brentford was granted a licence to open and operate an academy under the Elite Player Performance Plan
Season ticket prices were frozen for 2023/24 season
For the second season running, Gtech Community Stadium received top marks in the Premier League’s Matchday Fan Experience survey
Safe standing introduced at the stadium
Financial
Club-record turnover of £166.5m (2022: £140.9m)
Operating profit before player trading was £4.4m (2022: £25.1m)
Profit before taxation was £9.2m (2022: profit of £29.9m), including the profit on disposal of players which was £5.6m (2022: profit of £4.6m)
Cash held at the balance sheet date was £15.0m (2022: £15.7m)
Third-party debt is £0.5m (2022: £0.7m)
Brentford has announced the club’s financial results for the year end June 2023.
The results cover the club’s second season competing in the Premier League. These accounts show a club-record turnover of £166.5m (2022: £140.9m), driven primarily by central income with broadcasting income at Premier League level consistently the highest of any league in the world.
The financial statements for the year under review show a group operating profit before player trading of £4.4m (2022: profit of £25.1m). Profit on player trading is at a similar level to the prior period as the focus was to retain our players and continue to invest. The profit for the year is a mix of player sales and contingent triggers in contracts on sales that were made in prior periods. Costs continued to increase significantly in the current year, with investment in the playing squad driving an increase in salary costs and an increase in player amortisation. This resulted in the group producing a profit before tax in the year of £9.2m (2022: £29.9m).
Gtech Community Stadium was revalued as at 30 June 2023, three years after it was originally opened, resulting in an increase in the asset value of £27.0m.
Matthew Benham's total investment in the group on 30 June 2023, comprised of equity and loans, remained at £104.4m (2022: £104.4m). This sum includes £22.8m (2022: £22.8m) of loans specifically in relation to the stadium project.
Cliff Crown, Brentford chair, said: “The 2022/23 season marked an exceptional period of growth for our club, highlighted by our ninth-placed finish in the Premier League.
"Our journey has been guided by a commitment to teamwork, continuous development and the dedication and unwavering support of our fans, players, staff, directors and our owner Matthew Benham. I want to thank them all for the part that they have played and continue to play every day.
“These financial results are pleasing but represent a significant decrease in profitability from the first season in the Premier League. Continued growth of all revenue streams is essential if the club is to continue to invest in the playing squad and in our facilities.
“As we reflect on the milestones of the past year, we eagerly look forward to building upon our successes in the years ahead.”