Walsall announce small profit

It is always commendable when a football club announces a profit and particularly so when that club is in League 1 where there are not big television revenues, substantial gates or lucrative sponsorships. Walsall face a lot of competition in their catchment areas from Premiership and Championship teams or even another League 1 team with a big support base, nearby Wolves.

It is always commendable when a football club announces a profit and particularly so when that club is in League 1 where there are not big television revenues, substantial gates or lucrative sponsorships. Walsall face a lot of competition in their catchment areas from Premiership and Championship teams or even another League 1 team with a big support base, nearby Wolves.

Walsall have released their annual report on their finances, which shows the club operating at a small profit in the year ending 31st May. The club made a profit of £23,000 over the last year after tax, improving on the £10,000 that they made in 2012. They are one of the few clubs in League One who are turning over a profit.

Club chairman Jeff Bosner said ‘I am delighted once again to be able to announce a trading profit for the year, this time of £23,000. I believe this represents a significant achievement when you consider the findings of the latest Annual Review of Football Finance Report, published by Deloitte in June 2013, which established that the average net loss for a League One club in 2011/12 was £2.4m.’

‘It is also worthy of note that this profit was achieved despite a fall in central television Revenues of 26% as a direct result of a reduction in The Football League’s new TV deal with Sky. Consequently the Club had to adjust and reduce its “Player Budget” by a similar amount to compensate and this was done in a controlled and constructive manner.’

Walsall’s strategy places increasing reliance on developing Academy players which surely has to be the way forward for a club at that level.