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In advance of football clubs starting to publish their accounts for the 2021/22 season, I thought it might be helpful to share some 2-page financial overviews for each of the Premier League clubs for 2020/21, including a comparison against prior year and a 5-year graphical trend.
These overviews also include Premier League rankings for each of the main financial categories, e.g. which club had the highest profit, loss, revenue, wages, debt, transfer spend, etc in 2020/21.
One caveat with these figures is that revenue was significantly impacted by COVID in 2020/21 with match day reduced to almost zero, as games were played behind closed doors, while some broadcasting income was deferred from 2019/20 for matches played after the accounting close.
Read 24 tweets
West Bromwich Albion’s 2020/21 accounts covered a season when they finished 19th in the Premier League, leading to relegation to the Championship. Coach Slaven Bilic replaced by Sam Allardyce in December 2020, subsequently succeeded by Valerien Ismael, then Steve Bruce #WBA
#WBA swung from £23m pre-tax loss to a small £0.1m profit, as revenue almost doubled from £54m to £107m following promotion to the Premier League, though profit on player sales fell £25m to £4m and operating expenses rose £4m (4%) in the top flight.
Main driver of #WBA £53m revenue increase was broadcasting, up £56m from £41m to £97m, due to the more lucrative Premier League TV deal, though commercial also grew £2m (21%) to £10m. This offset the COVID driven reduction in gate receipts, down £4.8m (98%) to just £74k.
Read 45 tweets
Crystal Palace’s 2020/21 financial results covered a season where they finished 14th in the Premier League for the second year in a row in a campaign “enormously impacted” by COVID. Manager Roy Hodgson replaced by Patrick Vieira in July 2021. Some thoughts follow #CPFC
#CPFC pre-tax loss narrowed from £58m to £40m, despite revenue falling £8m (6%) from £142m to £134m, due to profit on player sales increasing from £1m to £10m and expenses falling £17m (8%), mainly due to a change in the accounting date (two fewer months).
Main driver of #CPFC revenue fall was COVID, which led to reductions in gate receipts, down £8m (97%) to just £247k, and commercial, down £4m (20%) from £21m to £17m. Partly offset by TV money rising £4m (4%) from £113m to £117m, mainly due to broadcasters’ rebate in prior year.
Read 43 tweets
Newcastle United’s 2020/21 financial results cover a season when they finished 12th in the Premier League under head coach Steve Bruce, since replaced by Eddie Howe in November 2021. Disrupted by the COVID-19 pandemic. Some thoughts in the following thread #NUFC
This was the last set of accounts under Mike Ashley’s ownership, as the club was acquired in October 2021 by Saudi Arabia’s Public Investment Fund (80% stake), as well as PCP Capital Partners (10%) and RB Sports & Media (10%).
#NUFC pre-tax loss reduced from £26m to £14m, despite revenue falling £13m (8%) from £153m to £140m and profit on player sales dropping £24m to £2m, as operating expenses decreased £51m (25%), mainly due to change in accounting date. Loss after tax narrowed from £23m to £12m.
Read 52 tweets
Sheffield United’s 2020/21 accounts covered a season when they finished 20th in the Premier League, leading to relegation after a two-year spell in the top flight. Manager Chris Wilder was replaced by Paul Heckingbottom (interim basis). Some thoughts follow #SUFC #twitterblades
This was the second year under new #SUFC owner Prince Abdullah after the High Court ruled that Kevin McCabe had to sell his 50% share to the Prince. This also triggered an agreement whereby the club had to purchase the stadium, training facility, gym, hotel and offices for £38m.
#SUFC pre-tax profit fell from £19m to £10m, as revenue dropped £28m (20%) from club record £143m to £115m and profit on player sales decreased £3m to £1m, partly offset by operating expenses falling £21m (17%). Net interest payable was up £1.7m to £2.5m.
Read 43 tweets
Fulham’s financial results for 2020/21 cover a season when they were relegated to the Championship after just a single season in the Premier League, after they finished 18th. Head coach Scott Parker replaced by Marco Silva in July 2021. Some thoughts in the following thread #FFC
#FFC pre-tax loss widened from £48m to £93m, despite revenue doubling from £58m to £116m following promotion to the Premier League, as profit on player sales fell £25m to zero, while expenses increased by £78m (60%) in the top flight (including £21m player impairment). Image
Main driver of #FFC £58m revenue increase was broadcasting, up £61m from £44m to £105m, due to the more lucrative Premier League TV deal, though commercial also grew £2m (26%) to £11m. This offset the COVID driven reduction in gate receipts, down £5.3m (96%) to just £231k. Image
Read 39 tweets
#WatfordFC 2020/21 financial results covered a season when they finished 2nd in the Championship, securing immediate promotion back to the Premier League. Head coach Vladimir Ivic was replaced by Xisco, since succeeded by Claudio Ranieri and Roy Hodgson. Some thoughts follow.
Despite impact of relegation and COVID, #WatfordFC pre-tax loss reduced from £36m to £22m, even though revenue fell £63m (52%) from £120m to £57m, as profit on player sales shot up from £18m to £56m and expenses were cut £35m (21%). Other income included £2.5m insurance claim. Image
Main driver of #WatfordFC revenue decrease was broadcasting, down £45m (48%) from £95m to £50m, as TV deal is much more lucrative in the Premier League, though also big falls in commercial, down £13m (76%) from £17m to £4m, and match day, down £5.7m (78%) to £1.6m. Image
Read 43 tweets
Leeds United’s 2020/21 accounts cover their first season back in the Premier League after a 16-year absence, when they finished an impressive 9th under Marcelo Bielsa, recently replaced by Jesse Marsch. Finances impacted by COVID. Some thoughts follow #LUFC
#LUFC swung from a £62m pre-tax loss in the Championship to £26m profit in the Premier League, thanks to revenue more than tripling from £54m to club record £171m, though competing in the top flight increased expenses by a third (£44)m. Bottom line boosted by £21m loan write-off. Image
Main driver of #LUFC £117m revenue increase was broadcasting, up £124m from £9m to £133m, due to much more lucrative Premier League TV deal, though commercial also grew £2m (6%) to £36m. This offset the COVID driven reduction in gate receipts, down £10m (83%) to just £1.9m. Image
Read 42 tweets
Brighton and Hove Albion’s 2020/21 accounts cover an “incredibly challenging” season, when they finished 16th in the Premier League under head coach Graham Potter, but their finances were significantly impacted by the COVID-19 pandemic #BHAFC
#BHAFC reported “another substantial loss” of £53m, though this was better than prior year’s £67m. Revenue rose £19m (14%) from £133m to a club record £152m and profit on player sales increased £7m (£1m loss in previous season), but expenses were £15m (7%) higher. Image
#BHAFC broadcasting revenue increased £33m (37%) from £90m to £123m, mainly due to money deferred from 2019/20 for games played after the accounting close, which offset COVID driven reduction in match day, down £13m (96%) to just £494k, and commercial, down £1m (4%) to £28m. Image
Read 40 tweets
Liverpool’s 2020/21 financial results covered a season when they finished third in the Premier League and reached the quarter-finals of the Champions League. Period also included 2019/20 league title win. Finances adversely impacted by the pandemic. Some thoughts follow #LFC
#LFC reduced pre-tax loss from £46m to £5m, driven by operating expenses falling £37m (6%). Revenue overall was slightly lower at £487m, but profit from player sales increased £12m to £39m. Loss after tax narrowed from £39m to £10m.
#LFC broadcasting revenue rose £64m (32%) from £202m to £266m, mainly due to deferred money from 2019/20, which offset COVID driven reduction in match day, down £67m (95%) to just £4m. Commercial was flat at £218m, as sponsorship growth offset losses caused by the pandemic.
Read 49 tweets
Four Premier League clubs have now published their accounts for the 2020/21 season and it may surprise to many fans that two of them managed to increase their revenue in a season so badly impacted by the pandemic. This thread will explain the reasons, which are mainly technical.
West Ham reported significant (38%) revenue growth from £140m to £193m, while Chelsea also increased revenue by 7% from £407m to £435m. The other clubs saw relatively small revenue falls: Manchester United from £509m to £494m (3%) and Tottenham Hotspur from £392m to £360m (8%).
As almost all games were played behind closed doors without fans in 2020/21, match day income took a real pasting, with substantial reductions across the board: #THFC down from £95m to £2m, #MUFC from £90m to £7m, #CFC from £54m to £8m and #WHUFC from £23m to £1m.
Read 19 tweets
While we wait for clubs to publish their accounts for the 2020/21 season, I thought it might be interesting to look at the trends in the Premier League over the last 10 years from 2011 to 2020, especially with COVID impacting last 3 months of 2019/20. Some thoughts follow #PL
#PL loss before tax widened in 2020 from £155m to £992m,  as the initial effect of the pandemic began to bite. It is true that the division was already loss-making in 2019, but it had reported profits in 4 of the preceding 5 years, amounting to £1.3 bln in this period.
The situation in the #PL was much the same after tax, though the 2020 loss was smaller at £953m, due to £39m tax credits. Tax accounting entries can have a major impact on net profits, e.g. 2018 included a £149m tax charge, while 2103 was boosted by £147m tax credit.
Read 38 tweets
Given the importance of wage bills to the likely success of football clubs, I thought that it would be interesting to look at wages for the Big 5 European leagues in the 2019/20 season (the most recently published accounts). Some thoughts in the following thread.
As a technical note, I have converted wages from Euro denominated leagues to GBP using the 1.14 exchange rate from the Deloitte Money League. To facilitate comparison, I have provided figures for each league in both Euros and GBP, though the overviews are only in GBP.
In England the highest wage bill in 2019/20 was #MCFC £351m, followed by #LFC £326m, #MUFC £284m, #CFC £283m, #AFC £225m and #THFC £181m. It is worth noting that some clubs’ figures were inflated by changing their year-end date, which meant the accounts covered 13 months.
Read 19 tweets
The COVID-19 pandemic has had a significant adverse impact on football clubs, though it is important to distinguish between money that has been completely lost to the game and income that has simply been deferred. This thread will analyse what this means for the Premier League.
Many clubs have listed the revenue impact of COVID-19 in their accounts, while others have not quantified the amounts. In the latter case, I have made assumptions consistent with those clubs who have provided figures in order to estimate the impact.
On the face of it, Premier League revenue held up quite well in 2019/20, though there were only 3 months impacted by the pandemic that season, as 4 clubs reported revenue above £400m (#MUFC £509m, #LFC £490m, #MCFC £478m & #CFC £407m), while all but one club was higher than £100m
Read 34 tweets
THREAD: #Ramsdale to #Arsenal

It will be interesting to see how #Ramsdale gets on at #AFC & how his game evolves.

One thing #AFC know they are getting is a quality 1v1 stopper!

My model suggests #Ramsdale’s 1v1 prowess saved #SUFC ~3 goals more than an average #PL GK would’ve!
In comparison #Leno was average at stopping 1v1s last year & given the brand of football #Arsenal wish to play maybe this was in their thought process when they scouted #Ramsdale.

My model has #Ramsdale as one of the top 5 1v1 stoppers in the #PL & potentially can still improve!
#Ramsdale’s strength vs close range 1v1s is down to his lightning fast speed of thought & speed off the line in combination with his wonderful bravery & tidy spread technique.

This save vs #Wolves is a good example

Rambo creates a huge barrier & snuffs out an excellent chance!
Read 9 tweets
#WatfordFC 2019/20 financial results covered a season that the club described as “unique and challenging”, as it ended in relegation after they finished 19th in the Premier League and they had 3 managers: Javi Gracia, Quique Sanchez Flores and Nigel Pearson. Some thoughts follow.
#WatfordFC swung from £10m pre-tax profit to £36m loss, as revenue decreased £28m (19%) from club record £148m to £120m and profit on player sales fell £4m to £18m, while expenses increased £9m (6%). Prior year boosted by £4.5m Marco Silva compensation. Loss after tax was £32m. Image
The main driver of #WatfordFC revenue reduction was broadcasting, which fell £24m (20%) from £119m to £95m, while match day dropped £2.0m (21%) to £7.3m, commercial decreased £1.2m (6%) to £17.4m and player loans were down £0.9m to £84k. Image
Read 40 tweets
Queens Park Rangers 2019/20 financial results covered a season when they finished 13th in the Championship, an improvement on the previous year’s 19th place, though the campaign was disrupted by COVID-19. Some thoughts in the following thread #QPR
#QPR loss widened from £10m to £16m, as revenue fell £16m (47%) from £34m to £18m, though expenses were cut £11m (24%) and profit on player sales increased £3m to £6m. Also impacted by £4.5m write-off of previous training ground development.
The main reason for #QPR £16m revenue reduction was broadcasting, which dropped £14m (62%) from £22m to £8m, as parachute payments stopped, though gate receipts were also down £1.4m (25%) from £5.4m to £4.0m, while commercial fell £1.4m (19%) from £7.2m to £5.8m.
Read 45 tweets
Swansea City’s 2019/20 accounts covered a season when they finished 6th in the Championship under head coach Steve Cooper, thus reaching the play-offs, but were eliminated in the semi-final by Brentford. Some thoughts in the following thread #Swans
#Swans swung from a pre-tax loss of £7m to a profit of £2.7m, despite revenue falling £18m (27%) from £68m to £50m and profit from player sales dropping £12m (41%) from £30m to £18m, as total expenses were reduced by £40m (38%). Profit after tax was £1.7m.
The main reason for #Swans £18m revenue reduction was broadcasting, which dropped £13m (25%) from £52m to £39m, mainly due to lower parachute payment, though commercial was also down £2m (26%) to £6m and match day fell £1.7m (26%) to £4.8m. Player loans were down £1.7m to £0.2m.
Read 44 tweets
Liverpool’s 2019/20 financial results covered a season when they won the Premier League, UEFA Super Cup and FIFA Club World Cup, but were eliminated in the last 16 of the Champions League. Finances adversely impacted by the pandemic. Some thoughts in the following thread #LFC
#LFC swung from £42m profit before tax to £46m loss, as impact of COVID-19 resulted in revenue falling £43m (8%) from £533m to £490m, while expenses increased £31m (6%). Profit on player sales fell £18m to £27m, but £4m gain from sale of Melwood. Loss after tax was £39m.
The main driver of the #LFC revenue reduction was broadcasting, which fell £59m (23%) from £261m to £202m, while match day dropped £13m (16%) from £84m to £71m. This was partially offset by commercial rising £29m (16%) from £188m to £217m.
Read 47 tweets
West Bromwich Albion’s 2019/20 accounts covered a season when they finished 2nd in the Championship, thus securing promotion to the Premier League after a 2-year absence. Manager Slaven Bilic was subsequently replaced by Sam Allardyce in December 2020. Some thoughts follow #WBA
#WBA pre-tax loss widened from £7m to £23m, mainly due to promotion bonuses and COVID. Revenue fell £17m (24%) from £71m to £54m, while operating expenses increased £19m (22%), partly offset by profit on player sales rising £19m to £29m. Loss after tax up from £6m to £21m.
The main reason for #WBA £17m revenue reduction was broadcasting, which dropped £12m (23%) from £53m to £41m, mainly due to lower parachute payment, though gate receipts also decreased £2.5m (34%) to £4.8m, while commercial was down £2.4m (22%) to £8.4m.
Read 44 tweets
THREAD:

#Henderson’s shot prevention has been class in his first 8 #PremierLeague games & its played a big part in #ManchesterUnited’s success!

He is preventing 3.07 chances occurring per game corresponding to ~0.44 ExG per game!

That’s double #DeGea’s ExG prevented per game!
Here I will compare #Henderson’s cross claiming & sweeping (the two branches of shot prevention) so far this year to #DeGea’s & discuss how this has affected #ManchesterUnited’s defence.

I will use my shot prevention model as sadly mainstream models miss many important actions!
Sweeping:

#Henderson’s sweeping has been highlighted after his tidy display vs #THFC & it wasn’t a one off!

So far this year for #ManchesterUnited he has prevented 11 opposition chances occurring by sweeping which corresponds to preventing 0.15 ExG/90 (#PL avg is 0.10 ExG/90)
Read 12 tweets
Burnley’s 2019/20 financial results covered a season when they finished in 10th place, the club’s second highest Premier League finish, securing a fifth consecutive season in the top flight. Some thoughts follow #BurnleyFC #twitterclarets
After these accounts closed in December 2020 ALK capital acquired a majority (84%) shareholding in #BurnleyFC. Long-term local owners Mike Garlick and John Banaszkiewicz remain at Turf Moor as directors, working in partnership with new chairman Alan Pace.
#BurnleyFC profit before tax dropped from £5m to break-even, mainly due to COVID impact, including an additional month of expenses. Revenue fell £4m (3%) from £138m to £134m and expenses increased £9m, though profit on player sales rose £8m to £15m. Profit after tax was £0.5m.
Read 42 tweets
Sheffield United’s 2019/20 financial results covered a season when they finished 9th in the Premier League following promotion and reached the FA Cup quarter-finals, which was described by the club as “a respectable achievement”. Some thoughts follow #SUFC #twitterblades
This is the first year under new #SUFC owner Prince Abdullah after the High Court ruled that Kevin McCabe had to sell his 50% share to the Prince. This also triggered an agreement whereby the club had to purchase the stadium, training facility, gym, hotel and offices for £38m.
Following promotion #SUFC swung from £21m pre-tax loss to £19m profit, a £40m improvement, as revenue shot up £122m from £21m to club record £143m, though profit on player sales fell £10m to £4m and competing in the Premier League increased expenses by £72m. Profit after tax £18m
Read 40 tweets
AFC Bournemouth’s 2019/20 financial results covered a season when they finished 18th, resulting in relegation to the Championship after five years in the Premier League. Finances were significantly impacted by the COVID-19 pandemic. Some thoughts in the following thread  #AFCB
#AFCB loss almost doubled from £32m to a club record £60m, largely due to revenue dropping £36m (27%) from £131m to £95m, partly offset by profit on player sales rising £20m to £23m. Expenses increased £8m, while other operating income (mainly player loans) fell £1m to £7m.
#AFCB revenue decrease was mainly attributable to COVID, which contributed to broadcasting falling £35m (30%) from £116m to £81m, though match day was also down £1.5m (29%) from £5.0m to £3.5m. These reductions were partly compensated by commercial rising £1m (9%) to £11m.
Read 37 tweets

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