Brighton: Finance expert on Albion's debts to owner Tony Bloom

Brighton released their annual accounts yesterday for 2021/22, recording a £24 million profit.

It was a major turnaround from a loss of £50.4 million in the previous campaign.

Despite the “amazing figures” – Albion were still lent £70 million from Tony Bloom to allow the club to pay off a bank loan.

Deputy chairman and chief executive Paul Barber in 2020

In a statement yesterday, chief executive and deputy chairman Paul Barber acknowledged Tony’s generosity and said Albion “must continue to work towards improved sustainability”.

Its turnover was up by almost 20 per cent to £174.5 million compared to £145.9 million in the 20/21 season.

Football finance expert Kieran Maguire, who runs the Price of Football podcast, told The Argus: “If the club is reliant on the owner and the owner’s circumstances do change, I think everyone has to be sensible enough to acknowledge that.

"I think Tony has said he wants to move into a position where the club is self-sufficient and I think that’s the appropriate strategy.

“The club has used Tony’s generosity, benevolence and genius in terms of identifying players via StarLizard to get them where they are today.

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“Without him, the club would probably still be at best in League One. His financial generosity combined with knowledge of how to both create and interpret player data via StarLizard means Albion have been able to build the stadium and training facilities, achieve promotion to the Premier League and recruit talent to progress within that division.

“The club has to start to look at the position where it doesn’t have to rely on him.

“Despite the amazing figures, Tony Bloom lent the club £70 million pounds last year. Part of that was to pay off the debt due to the banks and part of it was because although we did sell players, we sold them on credit.

“We are owed an awful lot of money from Arsenal and Newcastle which will help cash flow this season and future seasons.”

Kieran Maguire has been involved in financial education since 1989 and regularly speaks on all things finance in football under his brand The Price of Football

The figures do not include the sales of Yves Bissouma, Marc Cucurella or compensation for Graham Potter’s departure, all of which were concluded after June 30 last year, the end date for these accounts.

Paul Barber said: “These accounts make much better reading than the two previous seasons, in which we sustained overall losses of more than £110m. That took Tony’s investment over the £400m mark but this move to a profit is a small step towards the club becoming more sustainable and less reliant on the chairman’s generous levels of investment.  

“While we know we are very fortunate to have Tony Bloom’s ongoing support, the club must continue to work towards improved sustainability in the longer term. These accounts, and hopefully future accounts, show that we are making solid progress in that direction, and also working towards our vision of becoming an established and regular top-ten finisher in the Premier League.

"I’m pleased to report that our matchday income has increased. We welcomed back full capacity crowds to the Amex, and overall our commercial revenues are much healthier than the previous two seasons. Broadcasting income saw an increase thanks to our ninth-place finish, and additional live broadcast games.

"As ever we are hugely grateful to Tony Bloom for his continued leadership, financial support and a high level of stability. We continue to progress under his chairmanship and ownership. On behalf of everyone connected to the club, but especially the board, our staff and all of our supporters, I would like to thank him for his incredible and ongoing commitment."