Blackpool FC publish latest financial accounts as club posts £450k profit

The club’s latest financial results cover the 2021/22 campaign, where fans returned to games after Covid.

As a result, turnover soared from £6.86m in 2021 to £17.80m thanks mainly to season ticket sales. Matchday income increased from £864,117 to £4.6m.

The previous year, when Blackpool were promoted via the League One play-offs, the vast majority of games were played behind closed doors as a result of Covid restrictions.

Addressing the group profit of £452,608, which was up from a loss of £5m the previous year, the club said: “To achieve this position, Blackpool Football Club Holdings was supplied with interest free, unsecured loans of £3.3m (down from £5.5m the previous year).

“These funds are supplied by Seaside Holdings Ltd and its director Simon Sadler.

“As of June 30, 2022, Seaside Holdings have provided £4.8m to the BFC group. Its director Simon Sadler has provided £16.16m, including the initial purchase of the group and its assets of £8.4m and a gift of £0.17m, with total tax reimbursements of £0.61m.

“Cumulative total funds received amount to £21.57m. This number is forecast to increase by £4m in the year 2023.”

During the year, £1.8m was spent on infrastructure projects, namely improving the Squires Gate training ground.

Money was also spent on green energy initiatives to reduce “environmental impact and energy consumption” and improvements to fan lounges and fan areas inside Bloomfield Road.

“The directors recognise the importance of continuous improvement across each arm of the organisation,” the club added.

“As a result, 44 new jobs were created during the year with more to be created in 2023. These roles are fundamental for the continued progress of the club and focus on bringing jobs to the local community.”

The total number of employees at the club, a figure that includes first-team and hotel staff, grew from 159 to 203. Wages and salaries rose from £7.297m to £11.180m.

Funds raised from transfer fees increased from £410,918 to £1.957m.

The principal risks facing the club continues to be divisional status, which is under threat this season with Blackpool six points adrift of safety with 11 games remaining.