Aston Villa have announced a £119.6million loss in their end of year accounts.
Despite Villa’s seventh-place finish in the Premier League last season and a return to European football after more than a decade, financial figures revealed a deficit for the year ending May 31, 2023.
The club’s revenue witnessed a surge, reaching £217.7m, up from £178.4m in the previous year. However, despite increased revenue streams driven by improved gate receipts, sponsorship deals, and commercial revenues, Villa reported a loss of £119.6m after tax, compared to the marginal profit of £300,000 in the prior year.
Villa said in a statement that they “are in line with the strategic business plan, and we continue to operate within the Premier League’s Profit and Sustainability rules”.
In the current financial year, Villa confirmed they have spent £63.7m on new signings that has included the acquisitions of winger Moussa Diaby from Bayer Leverkusen and defender Pau Torres from Villarreal. The Premier League side say that as a result of this, employee wage costs rose to £194.2m, up from £137m, reflecting a 9 per cent increase in overall employee numbers, coupled with increased central support functions to facilitate the club’s growth.
This season, Villa’s performance on the field has seen a upward trajectory, with the team currently occupying a Champions League qualifying spot in the Premier League and advancing to the knockout stages of the Europa Conference League.
