Blackpool FC financial results see turnvover up to £4.63m as season ticket sales rise
Blackpool FC saw its losses narrow last year despite much of the season being disrupted by the coronavirus crisis.
The Bloomfield Road club, set to challenge for promotion to the Championship this weekend, saw an increase in the amount of business as its turnover rose from £4.63m in 2019 to £5.51m in the year ending June 2020, driven mainly by increase in commercial revenues in the first full year of business under the leadership of Simon Sadler.
After all its liabilities, its pre-tax losses fell from £2.64m to £2.23m according to the latest financial results.
Gate receipts and season tickets sales were healthy compared to before the ending of the fans’ boycott in March 2019.
Gate receipts fell slightly on last year from £1.5m to £1.1m but season tickets receipts soared from £206,442 in 2019 to £1,041,857 as the fans returned to the stands after the Not a Penny More protest.
The club said: “Season ticket sales are considered to be a key performance indicator, and numbers sold in the season under review more than trebled in comparison to the 2018/19 season.”
Turnover from bar and food sales was £328,976, down from £394,280.
Wages and salaries, meanwhile, went up by £1.56m to £6.0m as the total number of employees rose: football staff went from 71 to 73, while administrative staff went from 43 to 81.
The club made a profit on player transfers of £1,384,921, up from £218,557 the year before. In the financial report, the club states: “In the year under review the club was in League 1, the third tier of English professional football.
“In the FA Cup the club reached the third round, losing to Reading in a replay. The club was knocked out in the first round of the League Cup and the second round of the EFL Trophy.
“The club participated in League 1 for the 2019/2020 season for the third consecutive year. Football League Distributions remained at similar levels to 2018/19. Commercial revenues rose sharply, driven by a significant increase in season ticket holders.
“On June 9 the League 1 season was curtailed following the outbreak of Covid-19. The club had completed 35 games with final league standings being determined by a points-per-game method which left the club in 13th place.
"The directors have assessed the risks the Covid-19 pandemic. The board and senior management regularly meet to ensure risks are identified and appropriate action is taken.”