Hull City publish 23/24 accounts: 🔑figures
⚽️Revenue £21.2m ⬆️17%
⚽️ Wages £29.6m ⬆️25%
⚽️Average weekly wage £13,700
⚽️Underlying losses £26.4m ⬆️28%
⚽️ Player sale profits £8.3m ⬇️45%
⚽️Player purchases £8.5m
⚽️Player sales £10.4m (plus £30m post season)
⚽️Loans from owner in year £27.9m
Revenue fairly evenly split, rise in year mainly due to better commercial sales and slight rises in matchday and new EFL TV deal. Only a handful of clubs have submitted 23/24 accounts, Reading's owner thinks the laws of the land do not apply to him so has not yet submitted 22/23
Main costs for clubs are player related. Substantial increase in wages and amortisation (player signings spread over contract length) as new owner invested heavily in playing talent resulting in Hull being at top end of non parachute payers.
As a result wages now £139 for every £100 of revenue, towards the top of the Championship table
As a result of this Hull lost £500k a week in the running of the club, highest in club's history. Only way to cover losses is via player sales (£8m profit) or owner funding.
Hull had negative net spending in 23/24 but still invested highly by Championship standards
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